The Gold Reaper MT4 Review

Build on the very succesfull Goldtrade Pro, this EA has been designed to run on multiple timeframes at the same time, and has the option to set the trade frequency from very conservative to extreme volatile. The EA uses multiple confirmation algorithms to find the best entry price and runs multiple strategies internally to spread the risk of the trades. All trades have a stoploss and takeprofit, but also use a trailing stoploss and trailing takeprofit to minimize the risk, and maximize the potential of each trade. The system is build on the very popular and proven strategy: trading breakouts of important support and resistance levels. Gold is very suitable for this strategy, as it is a highly volatile pair.

Features

  • Very easy to use: install on chart, and set your prefered maximum allowed drawdown.  The EA will determine trade frequency and lotsize fully automatic 
  • No grid/No Martingale/No risky risk management
  • good results over the full historical data for XAUUSD
  • Easy to use for Prop Firms
  • Minimum account balance: 300$

Expert Advisor backtest

Simply run on XAUUSD using default settings, or change the max allowed drawdown to your preference.  You can also change the trade frequency manually to see the different results

Timeframe of the chart doesn’t matter.

The Gold Reaper MT4 test

The Gold Reaper MT4 Review

The Gold Reaper MT4 reviews

Conclusion for this robot

The Gold Reaper MT4 is an interesting forex robot. Mainly because it trades one of the most popular pairs…GOLD. Who doesn’t want to beat the Gold market and once using a good strategy you can make massive results! Clearly this robot is very suitable for trading Gold and it has many positive reviews. 

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Risk warning: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results. Currency trading involves high risk and you can lose a lot of money.

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