Gold Miner is an expert advisor that can operate with Gold on the Forex market. The presentation includes almost no information about the system’s features. So, we decided to check the robot out.
What is Gold Miner?
- The system is a grid-based trading advisor.
- It will help us with being profitable on the market automatically.
- The system trades Gold on the real account.
Official Gold Miner website
The presentation includes just several lines about how the system functions and what we should expect from its performance. The developers had a “Trading account 12” where the system worked. However, it was removed from the listing and no new account was added.
The developer runs an average profile of a 22,990 rate. He’s from Viet Nam and there are over 70 products published and 12 signals available. This looks fake because the backtest report was in Russian.
How can we use Gold Miner?
We have some details about the system and its features explained when the rest we have to guess or predict.
- Gold Miner can provide us with automatic orders execution.
- The system can get out of orders every Friday. This allows us not to keep orders waiting for a rough Monday opening.
- It covers all orders with proper SL and TP levels.
- We may use the robot with other indicators to be sure that the system works well.
- The robot can work well on MT4 and MT5 platforms.
- It requires us to have a Hedge-type of the account.
- It uses a Trailing Stop Loss feature to protect our profits.
- The system can restart a terminal after updating.
Pricing & refund
The current price is $30 after being decreased from $49. We’d like to note that the robot is pretty acceptable. The subscription option was removed. It’s possible to download the system for demo usage.
- The core system works based on the overbought and oversold positions.
- The supporting strategy is a Grid of orders.
- It can recover after losing orders.
- So, this sounds like Martingale. It’s a risky strategy because it requires much margin to be performed.
- We can trade XAU/USD, GBP/USD, USD/CAD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, and NZD/USD pairs.
- The time frame wasn’t mentioned.
Instead of a real report we have this screenshot of the chart. So, we don’t know if the system was tested properly. At the same time, we can see huge drawdown periods and losses at the end.
The current list of the account doesn’t include #12 that included trading results of this advisor.
We had some screenshots of the profile where the advisor traded on PrimusMarkets with 1:200 leverage automatically. The maximum drawdown was 24.2%. It had the maximum deposit load of 16.6%. An average win rate was 60.5%. The absolute growth was negative: -7.28%.
It’s easy to note that the robot did not trade stable at all.
The advisor worked, providing absolutely different losses and profits. This means there’s a trailing feature that should have been applied.
The advisor performed 448 deals only. The best trade was $57.31 when the worst trade was -$15.23. The gross profit was $549.06 when the gross loss was -$585.45. It’s good that these numbers are equal. The system used to work with an average frequency of 37 deals weekly. An average trade length was 13 hours. The recovery factor was -0.26. That could mean that the system wasn’t able to recover after losses. The profit factor was 0.94. An average monthly gain was 0.10% while an expected annual profit was -44.72%.
There were 321 orders executed on EURUSD equally in both directions.
There were many many warnings applied.
What are the real customers saying about Gold Miner?
We don’t have many comments to be sure that the robot is relevant. It looks like traders avoid using it.
Summary: is Gold Miner a trustworthy EA?Gold Miner
Trading Results2/5 Bad
- Trading results were provided
- Affordable pricing
- No risk advice given
- No settings explanations provided
- No backtest reports shared
- The account with trading results were removed
- No rental options available