The Gold Reaper EA V1.90: A Non-Martingale Gold Trading Robot
The Gold Reaper EA V1.90 is an expert advisor (EA) designed specifically for trading the XAUUSD (Gold) currency pair. Developed by Profalgo Limited, this EA builds upon the success of the Goldtrade Pro strategy. Here are the key features of this powerful trading robot:
- Multiple Timeframes and Trade Frequency:
- The Gold Reaper can operate on multiple timeframes simultaneously.
- You have the flexibility to set the trade frequency from conservative to extremely volatile, adapting to your risk tolerance.
- Confirmation Algorithms and Risk Management:
- The EA uses multiple confirmation algorithms to identify optimal entry points.
- All trades have predefined stop loss and take profit levels.
- Additionally, a trailing stop loss and trailing take profit are employed to minimize risk and maximize potential gains.
- Strategy Based on Breakouts:
- The Gold Reaper follows a proven strategy: trading breakouts of significant support and resistance levels.
- Gold’s high volatility makes it well-suited for this approach.
- Adaptive Trade Sizing:
- The system adjusts trade frequency and lot size based on your account balance and maximum allowed drawdown.
- Backtests demonstrate stable growth with controlled drawdowns and swift recoveries.
- Honest and Transparent Approach:
- Unlike some systems that rely on buzzwords like “neural networks” or “machine learning,” the Gold Reaper EA is based on real methodology.
- The developer has over 15 years of experience in creating automated trading systems.
- Compatibility with Goldtrade Pro:
- Surprisingly, the correlation between the Gold Reaper EA and Goldtrade Pro is low.
- Running both EAs together can lead to stronger growth while maintaining similar drawdown levels.
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How to Use the Gold Reaper EA:
- Installation:
- Simply install the EA on your MetaTrader 4 chart.
- Set your preferred maximum allowed drawdown.
- Minimum Account Balance:
- The recommended minimum account balance is $300.
- Backtesting:
- Run backtests using the default settings or adjust the maximum allowed drawdown and trade frequency manually.
Remember, the Gold Reaper EA V1.90 is designed for traders seeking a reliable, non-martingale approach to trading gold. It combines robust risk management with a proven breakout strategy.
