Forex Gold Trader Ea

[WinnerMan]

Hi There

I'm very tempted to purchase the following EA:

http://forexgoldtrader.com/

The EA basically takes advantage of the current strong up-trends in Gold and Silver - it only places buy orders, and never sell orders.

Since it only places buy orders, I'm wondering if things could turn very nasty with this EA if a correction in Gold and Silver takes place.

I'm wondering if some of the more experienced traders can spot any pitfalls associated with this EA?

Cheers
Winnerman

 

[wackypete2]

It's averaging down.

The EA basically takes advantage of the current strong up-trends in Gold and Silver - it only places buy orders, and never sell orders.

It's only traded for less than 7 months, and thats ONLY during a nice bull run. What happens when the uptrend ends and you have 20 positions open? A major downturn on gold will wipe you out. Website says it's not scalping but many trades are closed within 10 minutes for very small profits.

Ignore the money back guarantee. If it doesn't work and you lose $1000's would getting a refund make you happy??

Peter

 

[WinnerMan]

Good point Pete - thanks for your advice!

It's averaging down.



It's only traded for less than 7 months, and thats ONLY during a nice bull run. What happens when the uptrend ends and you have 20 positions open? A major downturn on gold will wipe you out. Website says it's not scalping but many trades are closed within 10 minutes for very small profits.

Ignore the money back guarantee. If it doesn't work and you lose $1000's would getting a refund make you happy??

Peter

 

[august8]

Been starting at Gold @ 4H chart. If it breaks above the resistent at 1527,..the next target will be the previous peak.. GOOOOD LUCK !

 

[don.manuel]

Hi There

I'm very tempted to purchase the following EA:

Forex Gold & Silver EA 3.0 | Forex Currency Trading | Automated Forex Trading System | Metatrader 4 | Best Forex Robot

The EA basically takes advantage of the current strong up-trends in Gold and Silver - it only places buy orders, and never sell orders.

Since it only places buy orders, I'm wondering if things could turn very nasty with this EA if a correction in Gold and Silver takes place.

I'm wondering if some of the more experienced traders can spot any pitfalls associated with this EA?

Cheers
Winnerman

Hi !, I was reading FAQ and found:

"Why your EA open BUY ONLY?

We have added SELL function, it will triggered when the trend goes down

Do you use Stop Loss?

Yes, we have stop loss feature. You can use it or not depend on your style.

Do you use Martingale system?

NO, we are anti-martingale system (gambling system). Martingale will blow your account soon! Be carefull!

Do you use Scalping system?

NO, we dont use Scalping. Scalper only works with demo account but the result really different with real account.

Can i use Forex Gold & Silver EA on demo account first?

Yes, the version you purchase will work on both a demo or live account, so long as the broker meets the minimum requirements."

I hope it will be true. :innocent:

cheers,

Don.manuel