i bought an expert advisor and ran it
for five days the results surprised me
[Music]
a few days ago i came across an expert
advisor which was specifically designed
for gold trading it costs around 200
and by checking the my fx book page
dedicated to this expert advisor i was a
bit interested as most of the figures
look positive
well i got this expert advisor to give
it a try but as per your request we'll
run this ea 24 7 on a virtual server
this time and share the results with you
regularly
so do you think this ea is profitable
well before we get to that part let's go
over some details about this indicator
we'll first learn some details about
this ea look at the verified performance
of the vendor to understand how it works
then at the end of the video i'll share
with you my results of five days running
this expert advisor for 24 hours
the ea we'll review today is called
promax gold ea
according to the developer it's a robot
that trades automatically based on a
smart news filter which allows it to
rely on both technical and fundamental
analysis
promax gold is a 100 automatic ea that
allows hands-free trading it has
automatic money management settings so
the size of the trading lot is
automatically set by the robot according
to the vendor the default settings are
the best for winning profits but it
comes with different presets that suit
various purposes
you only need to pay for it once and all
future updates are provided for free
usually before purchasing any course
signal or expert advisor it's important
to ask the seller to provide their
myfxbook profile it's a third-party
platform that allows traders to evaluate
analyze share and compare their trading
strategies and trading performance
it gives us a realistic idea about the
indicator or strategy we're about to
purchase
let's look at the vendor's website well
to be honest with you my fx book is not
100 reliable as there are methods that
some vendors use to trick buyers we'll
be revealing some of them as we progress
with this live ea testing series
if we scroll a little bit down we can
see that the ea is designed to generate
8 to 15 percent monthly profit it works
only on gold pairs and should be
accurate 88 of the time the minimum
required balance to run the ca is one
thousand dollars which makes sense as it
trades gold i'll leave a link to this ea
in the video description if you want to
learn more about it
it's built and optimized to trade only
if the accuracy is greater than 88
and if the trades go into a loss it can
use a smart grid to close them and break
even without losing money
the developer doesn't reveal the type of
trading strategy the algorithm utilizes
well all we know is that it runs on the
five minute chart on standard accounts
we can't use many or sent portfolios in
this case the robot has to be online 24
hours and it's recommended not to run
any other robots indicators and manual
trading as it will interfere with the
indicator this ea uses the smart grid to
close orders and break even just in case
the position runs into the negative side
all we need is to install the ea and let
it run automatically the other details
aren't that important except the fact
that the developer is ready to give a
full refund if the buyer isn't
profitable after 14 days of using it i
find this refund period quite short but
it motivated me to give it a try
so what if we grab this expert advisor
and run it 24 7 with the help of a vps
server
are we going to be profitable in 14 days
that's the first thing we'll be trying
we'll continue monitoring the
performance of this ea regularly
make sure to subscribe to the channel so
you won't miss the updates
before i share with you the results of
the first five days running this ea
let's look at the results of the
developer on their official myfxbook
page
we can see that the vendor has two real
accounts where the ea is running for the
past eight months
they are both real accounts one with one
thousand dollars and another one with
one hundred thousand dollars
well if you're familiar with the my fx
book platform you know that real
accounts don't mean much as there are
tricks to create them even without a
single penny what matters are the
results so let's look at them
we can see that this account was created
last march with a one thousand dollar
initial balance
the performance looks positive so far
the account grew by eighty seven point
five four percent in eight months the
highest drawdown recorded was eleven
percent in june
we can see that they have made 874
dollars in eight months
that's pretty good for a one thousand
dollar account
if we scroll down a bit we can see some
important figures
the one that captures my attention is
the success rate which is 81
the best trade made 182.70
and the worst one caused a 132.48
loss
they were both recorded in june which is
the month where we recorded the highest
drawdown of 11
other than that the profit factor is
1.60 which is extremely positive
by looking at the trading history we can
draw some conclusions
as the average trade duration is 5 hours
it's possible to assume that the ea uses
both scalping and day trading strategies
we can see that in some instances the
robot can increase the lot size to
recover the ongoing loss which is
referred to as the martingale or grid
trading approach
here we can see the monthly gain
progress since march 2021 we can tell
that the vendor has made a couple of
changes after may the monthly growth
rate was above 11 percent in the first
two months in the last six months it's
been below four percent which is a safe
rate but overall the ea has successfully
ended the last eight months which is a
good sign
so far this month we're at a one point
nine five percent gain let's see if we
close november with a two percent or
higher growth rate these were the
vendors figures let's look at our
results after five days of running this
ea
the first thing i did was sign up for a
vps server it's a remote computer that
runs 24 7.
we can run expert advisors with no
interruptions
no need to worry about keeping the pc
permanently on and we won't be dependent
on the power supply you can get a
reliable one for only six dollars per
month i'll leave a link to my favorite
forex vps service in the video
description
once the server is up i installed the
expert advisor with the help of the
tutorial video available on the vendor's
website
we then need to contact them to get the
ea activated the process was smooth and
didn't take much time
the vendor provides different presets
that you can choose from depending on
your objective
i imported the one with the lowest risk
level and created a demo account of one
thousand dollars
we'll monitor the performance of this
expert advisor in the coming weeks
i also created a myfxbook account so you
can visualize the performance of this
indicator at any point in time all you
need to do is visit the link in the
video description to monitor the
progress on a real-time basis
let's look at the first five days of us
running the expert advisor
so i installed this expert advisor on
the 21st of november we can see some
balance increase in the four following
days
our account has grown by 0.75 percent
which is great for such a short period
the drawdown won't make much sense at
this stage but it's less than one
percent
we began our journey with a one thousand
dollar account and we're now at one
thousand seven dollars and forty nine
cents
if we scroll down a bit we can see that
our success rate for a total of
seventeen trades is ninety four percent
the only losing trade is this one
all the trades were executed with one
micro lot volume size which means that
we didn't engage in any martingale or
hedging techniques so far
the average trade length is only 25
minutes the ea seems to close the trades
fast
if we analyze the history we can notice
that it uses a trailing hidden stop loss
all the trades were closed using the
trailing stop loss except this one the
longest trade we entered was the only
losing one
the ea seems to close a trade if it
takes a long time on the negative side
the other orders were all closed within
minutes
that will be all for the first video in
this series
if you enjoy the concept let us know in
the comments section what other expert
advisors you want us to test and make
sure to subscribe to the channel so you
can see what will happen in the coming
weeks are we going to be profitable
after 14 days
don't forget to check out the other
videos on this channel and happy trading
you