Fly With Gold EA – A Comprehensive Review
Fly With Gold EA is an automated trading Expert Advisor (EA) designed for the MetaTrader 4 (MT4) platform. It specializes in trading the XAUUSD (Gold vs US Dollar) currency pair on the M5 timeframe.
The developer markets Fly With Gold EA as the best automated system for Gold trading currently available. It uses complex algorithms and data-driven logic to scan the markets, identify trading opportunities, and automatically execute trades.
In this comprehensive review, we will analyze the features and purported performance of Fly With Gold EA. We will examine what makes this EA unique, how easy it is to set up and use, and most importantly – how well it performs when put to the test in live market conditions.
Here are some of the standout features of Fly With Gold EA:
- Fully Automated – Once installed on a chart, the EA will automatically scan the markets, open trades, set stop losses and take profits, and manage all aspects of trading the XAUUSD pair without any manual intervention.
- Optimized for Gold Trading – The algorithms powering Fly With Gold EA have been specifically tuned for robust performance when trading Gold. This sets it apart from generic EAs.
- Pre-Configured Settings – Getting up and running only takes a few minutes. Premade set files allow traders to simply attach the EA, load settings, and let automated trading commence.
- No Trading Experience Required – Since all analysis and trade execution is handled automatically, no previous trading skills are needed to use this EA. Complete beginners can benefit.
- Free Product Updates – You get lifetime access to all new versions of Fly With Gold EA at no additional cost. The developers continually work to improve performance.
Installation and Setup
The process of installing Fly With Gold EA is straightforward for even novice traders:
- Download the files from the vendor after purchase. This includes the EA file (Fly With Gold EA.ex4) and set file (M5.set).
- Open your MetaTrader 4 platform and a XAUUSD chart with the M5 timeframe applied.
- Drag the Fly With Gold EA.ex4 file directly onto the chart. This will open the Inputs tab.
- Click the “Load settings from .set file” button and select the included M5.set file.
- Enable the EA and it will immediately start scanning and trading the XAUUSD market completely automatically.
The whole process only takes a few minutes. Since optimized settings are included, no complicated configuration is required to unleash the power of this expert advisor.
Live Performance Results
Most importantly, we must analyze how well Fly With Gold EA performs under live market conditions. Does automated trading of Gold using this EA consistently generate profits?
The vendor provides recent live signals with performance statistics tracked by MyFxbook:
Fly With Gold EA Live Signal
- Start Date: September 2022
- Total Net Profit: +221%
- Max Drawdown: 27.8%
These results across over 5 months of live automated trading are impressive. The chart shows consistent incremental gains, despite some drawdowns being encountered.
Further live trading statistics showing ongoing profitability would strengthen confidence in the EA’s algorithms. But results thus far indicate it can deliver automated profits from Gold trading across long periods.
Using Fly With Gold EA
Trading with Fly With Gold EA is simple. Once installed onto a chart, the included preset file contains optimized settings. Therefore you can enable automated trading right away without needing to configure inputs.
However, traders can still easily adjust settings like lot size, stop loss, take profit, and more to align with their risk tolerance. Input descriptions clearly explain what each variable controls.
While the EA handles scanning and execution autonomously, good practice is to still monitor trades. You can watch buy and sell orders being opened and closed automatically in real-time and ensure the system is behaving as expected.
The vendor recommends using a Virtual Private Server (VPS) for best reliability. Installing the EA on a VPS ensures the automated trading software has a stable internet connection and can run persistently without interruptions.
Pros and Cons
- Fully automated trading specially optimized for Gold
- Preconfigured for quick setup with included files
- Lifetime free updates to latest EA versions
- Detailed user guide explains all functions
- Lucrative performance results shown from live trading
- Requires running constantly on a VPS for best operation
- No extensive independent reviews from users yet
Fly With Gold EA Conclusion
Fly With Gold EA brings a sophisticated automated trading solution specialized for the volatile XAUUSD market. Backtested results and early trading signals show it can deliver consistent profits from Gold trading across months of market ups and downs.
The combination of automation, Gold-tuned algorithms, and active development makes this EA stand out as a powerful option for traders seeking hands-off technology to grow accounts.
For traders willing to connect Fly With Gold EA to a dedicated VPS, this expert advisor offers an intriguing opportunity to potentially profit from the expertise of its creators in trading Gold algorithmically.
The lack of widespread reviews is an understandable shortcoming given its recent release. But ongoing public posting of live trading statistics can provide greater confidence over time if positive performance endures.
Overall, Fly With Gold EA scores very well in critical areas – presenting an innovative and profit-driven automated solution for Gold trading that traders aiming to tap the potential of EAs would be remiss not to try.