Gold High MT4 EA Review: A Reliable Automated Trading Robot

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The Gold High MT4 Expert Advisor (EA) is an automated trading robot designed specifically for trading Gold (XAUUSD) on the popular MetaTrader 4 (MT4) platform. With over 43 weeks of successful backtesting and live trading, it has established itself as a stable and reliable trading solution.

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Overview and Key Features

The Gold High EA incorporates nine different trading strategies to identify high-probability entries. It is able to operate effectively even with a $200 account balance. All trades are protected using stop loss orders to limit downside risk. Users also have the flexibility to choose either a fixed trading lot size or enable the automatic lot size calculation feature.

Some of the standout features of this expert advisor include:

Smart entry signals calculated from 9 profitable strategies
Special drawdown control mechanism to reduce losing streaks
News filter to avoid volatile market conditions
Options for fixed and variable position sizing
Detailed backtesting statistics and live trading results

How the Gold High EA Works

The Gold High EA is optimized for the XAUUSD symbol on the 15-minute timeframe. It does not execute a large number of trades, rather it focuses on high-probability setups with a good risk to reward ratio.

The entry logic relies on a confluence of factors like overbought/oversold levels, momentum, and other proprietary criteria. Although the exact entry techniques are not revealed, it seems to effectively capture trend continuations and momentum bursts.

All positions include a stop loss order, set at a default distance of 200 pips from the entry price. There is also an option to trail the stop loss at a defined offset. Profit targets are based on a risk-reward ratio of 1:2.6. So for a 200 pip stop loss, the take profit would be set at 520 pips.

The EA can also pyramid positions in the direction of the trade, with the stop loss orders of all positions adjusted to breakeven. This boosts the profit potential while also protecting capital.

Performance Statistics and Testing

Extensive backtesting reports are available, spanning over 850 days of historical data. The Gold High MT4 EA achieved a profit of around 180% on the backtest, with a max drawdown of 17%. These are stellar metrics that highlight the EA’s consistency and effectiveness.

It has also amassed an impressive track record in live trading, as evidenced by the public MyFXBook results. In 10 months of live trading, it has produced a 27% return on a live account with tight drawdown control.

The combination of stellar backtests together with a long period of positive live results establishes the EA as a well-tested and reliable solution.

Using the Gold High MT4 EA

The Gold High EA works seamlessly on the MT4 platform. It comes with a detailed user guide that covers the installation process, optimization steps, and usage instructions.

Some key settings that users can configure include:

Position sizing – Fixed lot or automatic calculation
Stop loss – Default is 200 pips, adjust as desired
Take profit – Set based on risk-reward ratio
Maximum spread – Avoid excessive spread levels

Monitoring the live trades and performance metrics can be done directly through the MT4 terminal. The EA also has a magic number that enables users to track trades taken by this specific expert advisor.

Is the Gold High EA Worth the Investment?

With an original listing price of $400, the Gold High EA is admittedly at the higher end of commercial EAs. However, given its reliable historical results and longevity, it offers good value for money.

It is specially optimized for trading Gold, which is known for trends and volatility. This focused approach gives it an edge compared to more generic EAs. The multiple inbuilt trading strategies also provide an element of diversity while retaining overall profitability.

For traders looking for a set-and-forget Gold trading solution, the Gold High EA is definitely worth considering. Of course, conducting proper due diligence with demo testing is always advisable before risking real capital.

Conclusion

The Gold High MT4 Expert Advisor is an impressive automated trading system specifically designed for Gold. Its blend of strategies, risk management protocols, and customization options allow for a personalized yet profitable trading experience.

With a stellar backtest and live trading track record spanning nearly a year, it has demonstrated its ability to consistently generate profits. For traders willing to invest the time to understand and optimize it for their needs, the Gold High EA offers a reliable path to long-term automated trading success.