Golden Oscar EA Review: A Comprehensive Analysis
The Golden Oscar EA is an automated trading robot designed specifically for trading Gold (XAUUSD) on the MetaTrader 4 platform. It was developed by Sergej Sergienko and released in May 2022.
- Trades only XAUUSD
- Uses no risky strategies like martingale or grid trading
- Stable performance over the past 10 years
- Simple and easy to use – no optimization needed
- Recommended deposit of $100+
How the Golden Oscar EA Works
According to the developer, the Golden Oscar EA is based on recognizing patterns in price movement and using certain indicators. The specific algorithms used for pattern recognition leverage machine learning and statistical methods.
Once the software detects an opportunity based on its analysis, it will automatically place trades accordingly. The EA places take profit and stop loss levels for each trade to manage risk.
The settings are simple enough for even beginner traders to understand. You just need to attach it to a XAUUSD chart in MT4, set the inputs, and let it trade automatically.
Golden Oscar EA Backtesting Performance
Backtests posted by the developer over a 10 year period (2011-2022) on XAUUSD show stable results.
There were no losing months, with most months yielding solid profits in the 10-25% range. The best months exceeded +100%. Maximum drawdown remained below 30%.
Of course, it’s important to note that past performance does not guarantee future results. But these backtests do indicate the potential of the system.
Golden Oscar EA Live Performance
A live signal posted on MQL5 shows a moderate gain of 2% over the first 15 trades. However, it’s still early days for this live account and more data is required to properly evaluate real-world performance.
User reviews also provide some insight into the EA’s live trading results…
User Reviews and Testimonials
Here is a summary of user reviews and testimonials for the Golden Oscar EA:
- Reviews on the MQL5 Marketplace are overwhelmingly positive, with 12 five-star ratings out of 14 total reviews. Users mention consistent profits and quality support from the vendor.
- An early review video shows installation, setup, backtests, and some forward testing. The presenter seems satisfied with the results.
- Discussion threads on trading forums like Forex Factory also show traders achieving profits in their forward testing of the EA.
- The Golden Oscar EA is also sold through various vendors like Trading Kernel, who provide some buyer protection in case it does not perform as expected.
So while there will always be some risk in using any automated trading system, the positive feedback so far indicates good potential with the Golden Oscar EA.
Golden Oscar EA Pricing and Availability
The developer sells the Golden Oscar EA for $899 on the MQL5 Marketplace, with discounts sometimes offered by resellers.
There is also an option to rent the EA for $399 for 3 months. This allows traders to test it out before committing to a purchase.
Update: As per user comments, it appears the EA is currently unavailable for purchase from the developer’s store. Some resellers do still offer it for sale.
Verdict: Worth Trying with Caution
In summary, the Golden Oscar EA shows promise as a robust automated trading system for gold trading, with a long backtested history and mainly positive reviews. However, there is still limited public data available on real-world performance.
So traders are advised to demo test it extensively first and proceed with caution if using real capital. Be sure to use proper risk management as well.
For traders specifically looking to automate XAUUSD trades, the Golden Oscar EA seems to be a good option worth exploring. But more proof of live results would further validate the system.