About the EGCX Gold Bot Pro Expert Advisor
The EGCX Gold Bot PRO expert advisor for Metatrader 4 is a profitable scalper bot designed to trade Gold on the lower time frames.
The EA works best on the 5-minute chart, but other time frames should work too.
The Gold EA made $1169 profit from an initial $1000 deposit during the test phase.
This automated robot should work with any Forex broker of your preference.
As always, please use this EA on a demo account first until you fully understand how it works and how it performs over an extended period of time.
Free Download
Download the “EGCX GOLD BOT PRO.ex4” expert advisor
Key Features
Advanced Scalping Strategy
The EA employs a scalping strategy optimized for the M5 timeframe, aiming to capture small price movements in the gold market efficiently.
Customizable Daily Profit Target
Set your desired daily profit target, with the standard setting being 1%, allowing for disciplined trading and consistent gains.
Comprehensive Risk Management
Features include adjustable stop loss, trailing stop, and maximum spread settings to manage risk effectively and protect your account.
Flexible Trading Hours
Customize trading times and days to avoid high-impact news events or trading sessions that do not align with your strategy.
Account Protection Mechanism
Set a maximum acceptable loss to automatically halt trading when this threshold is reached, safeguarding your account from significant losses.
Strategy Tester Report
Find below the EGCX Gold Bot PRO track record for the Gold 5-minute chart (click on the picture for full size view).
Key Points
- Largest profit trade: $46.41
- Largest loss trade: -$10.5
- Total net profit: $1169
- Average consecutive wins: 1.27
During the test phase, the EGCX Gold Bot Pro achieved a net profit of $1,169 from an initial $1,000 deposit.
The largest profit trade was $46.41, and the largest loss trade was -$10.50.
The average consecutive wins stood at 1.27, demonstrating the EA’s consistent performance.
Trading Chart
The picture below shows the EGCX Gold Bot PRO EA attached to the XAUUSD M5 chart.
How the EA Works
- Monitors the XAU/USD market for short-term price movements.
- Executes multiple trades daily based on predefined algorithms.
- Utilizes adjustable risk management settings to control exposure.
- Closes trades promptly to secure profits and minimize losses.
Download Now
Download the “EGCX GOLD BOT PRO.ex4” EA
Parameters & Settings
- Currency Pair: XAU/USD (Gold)
- Timeframe: M5 (optimized), other timeframes can be tested
- Lot Size: Adjustable based on account balance
- Take Profit: Customizable per user preferences
- Stop Loss: Configurable per user preferences
- Maximum Spread: Adjustable tolerance
- Trailing Stop: Optional feature to lock in profits
- Maximum Loss: Set a threshold to halt trading if exceeded
- Trading Times: Customize to avoid undesirable sessions
- Magic Number: Unique identifier for trades
Recommended Trading Setup
- Broker: Any MT4-compatible broker
- Account Type: Standard or ECN
- Minimum Account Balance: $200
- Leverage: 1:500 or higher
- VPS: Recommended for 24/5 operation
- Timeframe: M5 (optimized), other timeframes can be tested
FAQ
What is the minimum account balance required?
The recommended minimum account balance is $200 to ensure sufficient margin for trades.
Which currency pair does the EA trade?
The EGCX Gold Bot Pro is designed to trade XAU/USD (Gold).
Can I use this EA on a real account immediately?
It’s advisable to test the EA on a demo account first to understand its performance and settings before using it on a real account.
Is the EA compatible with all brokers?
Yes, the EGCX Gold Bot Pro is designed to work with any Forex broker that supports MetaTrader 4.
Summary
The EGCX Gold Bot Pro offers a robust solution for traders seeking to automate their scalping strategies in the gold market.
With its advanced risk management features and customizable settings, this EA provides flexibility to suit different trading styles.
