Gold Miner is a trading solution for making profits on Gold. It was published on December 31, 2020. The current version is 3.0. There was no intel about when it was released.
Is Investing in Gold Miner a Good Decision?
No, it’s not. The first and the main reason is that the EA price usually starts from $199-$350. It’s a common payback for developers’ efforts. Purchasing a system for $49 and relying on its stability is a wrong decision.
Nguyen is a Vietnam developer with a 13325 rate. There are 13 signals and 62 products in the portfolio. The owner has no friends on the friend-list.
The presentation has few features explained:
Gold Miner executes orders on the terminal automatically.
The strategy is based on trading overbought and oversold currency pairs.
The system opens only short-term orders.
It uses Martingale to recover after a losing trade.
It works with the following cross pairs: XAU/USD, GBP/USD, USD/CAD, EUR/USD, USD/JPY, USD/CHF, AUD/USD, and NZD/USD.
The system can close deals automatically on Friday. It allows avoiding sharp market moves on Monday.
It protects open orders with Stop Loss and Take Profit levels.
The developer mentioned about using the system with a manual BUY/SELL indicator. There are no additional explanations about it.
There are both versions: MT4 and MT5 provided
There are positioning and hedging features.
We can use Martingale for Grids of orders.
We can increase the number of open orders.
The Trailing Stop Loss allows making money trading in the trend direction.
The system can restart the terminal if needed.
The robot is available for $49. It’s a weird price because the system can’t cost that few. We can rent the robot for $30 for three months. The demo version is available for free download as well. We can check its settings on our own and perform a backtest.
Verified Trading Results
There’s only a chart of the backtest introduced. The Value showed that there is an aggressive Martingale on the board.
The developer published many signal accounts. As we can see, most of them are scams. We remember that account #5 was under Gold Miner management. It was removed.
The fourteenth account is the only one with XAU/USD (Gold) traded. It’s a demo USD account with 1:500 leverage on the USIGUK broker. The accuracy rate is 67.5%. The maximum deposit load is 0.2%. The maximum drawdown is 2.7% only. The signals are available for free, and their reliability is 4 from 5. The account is live for 13 weeks. The total growth is 0.60%.
The robot provided absolutely mediocre monthly profits.
Now, the drawdowns are low.
The robot has traded 2300 deals with 67.47% of the win rate. The Gross Profit is $4896 when the Gross Loss is -$4293.98. The maximum win streak is 32 wins. An average trade frequency is 84 trades weekly. An average trade length is 13 hours. The Recovery Factor is low – 0.38. The Profit Factor is low as well – 1.14. The maximum loss streak is insanely deep – 33 deals.
The deposit load is low probably because the robot works with a 0.01 Lot Size.
The system continuously receives warning from MQL5.
Gusti007 has written positive feedback about the system’s performance.
The developer provides quick answers.
Strategy – score (2/10)
Functionality & Features – score (3/10)
Trading Results – score (3/10)
Reliability – score (3/10)
Pricing – score (4/10)
Gold Miner doesn’t seem like professional software. First, it costs a few. Second, the trading results are weird. What’s the reason to trade with low Lot Size on the $100,000 demo account? As a result, there’s mediocre profitability that doesn’t show us a real picture of how good the robot is. Third, the developer is afraid of using the robot on his real account. Lastly, there’s no money-back guarantee and people’s testimonials.
Make an informed decision
Check out the selection of the most efficient forex robots here