AutoPip EA Gold is a trading algorithm created to trade Gold (XAUUSD), EURUSD, and Bitcoin (BTCUSD). The system also includes some manual trading features, which enables traders to control it from a simple interface. You can get the robot at a one-time price of $100. A renting offer is also available at a monthly cost of $30.
AutoPip EA Gold trading strategy
The EA conducts trades daily on high performance indicators. An in-built news filter is included to prevent news and eventually decrease the trading risks. Furthermore, safe stop loss options are used to safeguard profits when changes occur on the trend. It would be unfair of us if we failed to inform you that AutoPip also works with dangerous algorithms — martingale and grid. You will get more details in the ‘live trading results’ section.
AutoPip EA Gold features
The robot has the following features:
- It is fully automated.
- The system works on the M15 timeframe.
- You are advised to use an ECN account for best results
- The minimum deposit is $500, while the recommended one is $1000. Cent accounts can also be utilized.
AutoPip EA Gold backtesting results
This is a backtest report for the XAUUSD currency pair. The test was conducted on the 15-minute chart using a deposit of $1000 between September 2016 and September 2021. The robot managed to carry out 9526 trades, and after winning 67.86% of the orders, a profit of $13619.77 was realized. This represented a 1362% gain. The EA traded with minimal risks as it only generated a low drawdown (13.40%). The profit factor was 1.49.
AutoPip EA Gold live trading results
The EA ran this account for about 3 months, from August 2021 to November 2021. During this period, it generated undesirable outcomes. On average, it made a daily and monthly loss of -0.10% and -5.03%, respectively. In the end, it had accumulated a loss of -£1383.35. Also, 30.07% of the capital went down the drain.
A total of 492 trades were implemented, but most of them were unsuccessful. This is illustrated by the average loss (-544.51 pips), which was much higher than the average win (288.06 pips). In addition, long (65%) and short (63%) positions reported poor win rates, further showing the robot’s inefficiency.
The system worked with the grid and martingale approaches. As you can see, a series of losses were recorded as a result. Large lot sizes were used, and this has contributed to series of losses.
The EA increasingly made profits from August to October, but things went south in November as it made a huge loss — 29.38%.
AutoPip EA Gold reputation
Neill Thomas Campbell Forbes is the creator of this Forex robot. He is self-employed and resides in the United Kingdom. Neill discloses that he is a software developer for the automation industry but has been involved in developing EAs for several years now. His other listed developments include Mad Gold Scalper EA and Black Gold EA.
Traders appear to be happy with this robot going by the 5 star rating they have given it on mql5. There’s a client who appreciates the vendor for being helpful and patient. He also reveals that at the beginning, the EA made profits, but they declined as days went by. Fortunately, he obtained almost 350% returns within two and a half months of trading. The other customers confirm that the system is lucrative and avoids unnecessary drawdown.
AutoPip EA Gold review summary
- Strategy – 4/10
- Functionality and features – 6/10
- Trading results – 2/10
- Reliability – 2/10
- Pricing – 7/10
The EA’s manual features give you the chance to regulate how it works for you. Some customers also say that the system is profitable and doesn’t make avoidable drawdowns. However, the live trading results on Myfxbook tell a different story. Since the EA works with martingale and grid approaches, you have to be careful. It can produce devastating outcomes that can eventually lead to a margin call.
