Gold M Stops is a Forex robot that was first presented to the public on September 18, 2021. It can be found in the “experts” section on mql5. So far, the system has been downloaded 446 times. Traders can use it to trade multiple currency pairs, including gold.
Noorullah Aimaq is the individual responsible for this trading system. He is claimed to be a CEO at Topco Finance, but nothing is known about this company. Aimaq hails from Afghanistan, and his profile features many other products he has designed. We have Fire Power, Star Bot, Gold Auto EA, Big Score, Saitama, Tondar, etc.
Features
The characteristics of this robot are listed here:
- Supports XAUUSD, AUDUSD, USDCAD, EURUSD, GBPUSD, and AUDCAD currency pairs
- It can also be optimized for other currency pairs
- Safeguards all trades by stop-loss and trailing stop-loss
- Easy to setup and use
- A recovery system is included
- Good resistance to unforeseen market events
- Requires a hedging account
- Raw spread accounts and a low latency VPS are recommended
- Mainly works on the M5 timeframe
- It trades on the MT4 or MT5 terminal
Gold M Stops’ trading strategy is based on breaking through price levels and market time. It computes every point of entry utilizing an advanced input filter after it has assessed how prices have moved on the chart. The system also offers protection against high spreads and gives you the opportunity to trade with a fixed or automatic lot size.
How to start trading with Gold M Stops
If you are interested in buying this product, then you need to have $600 at your disposal. But with this money, you can buy 3 or more cheaper robots, considering that the average price range of EAs is $100-$200. That aside, the developer offers several renting options as well. We have the 1-month, 3-months, 6-months, and 1-year plans that cost $75, $180, $320, and $450, respectively. As is the case with other EAs presented on mql5, a refund policy is not offered.
After purchasing one of the packages described above, then the next course of action is to add the software on the mql5 chart and activate auto trading. Now it can begin handling your trading activities based on its in-built features.
Backtests
Backtesting results for this EA are missing. Perhaps the developer tested the system and discovered that it is incapable of producing good outcomes. So, he probably wants to hide this truth to prevent losing potential customers for his product.
Verified trading results of Gold M Stops
According to the data above, Gold M Stops began trading with a balance of $1000, and within 54 days, it had carried out 575 trades, leading to a total profit of $19659.85. Therefore, the account has $28659.85 now. The win rates for long (58.96%) and short trades (41.04%) are really poor.
We can see that the average trading day for orders is 2 days, and to date, a maximum drawdown of 38.5% has been generated. This value tells us that the EA works with numerous risks, which can, in turn, threaten the existence of the account. The best trade has $992, while the worst one has contributed to a loss of -$757.79. There’s a profit factor of 6.54.
Customer reviews
Out of the 6 customer reviews the robot has received on the mql5 platform, 4 are positive and 2 are negative. So, we have clients who are saying that the system is good and profitable. At the same time, there are those who disagree. One such client claims that the EA blew up his account after it opened positions with 0.09 lots and more. The other one suspects that the tool crashed several times, and the dev covers this up with updates.
Is Gold M Stops a viable option?
Advantages
- User friendly
Disadvantages
- Expensive pricing
- Negative feedback from users
- Risky approach present
Summary
Gold M Stop cannot be trusted. We believe that the product’s algorithm has anomalies that can cause you to suffer losses that will eventually blow up your account. The lack of verified trading stats is also a big red flag that shouldn’t be ignored. The developer simply doesn’t want to discover that the EA is inefficient.
