Gold Scalper Pro is an automated trading tool, which was developed especially for trading GOLD (XAUUSD). According to the info, we see on the website, even an inexperienced trader with zero or very little trading experience can easily use this robot.
This software was developed by the FXAutomater team that has already developed other trading systems such as OMEGA TREND EA, BF SMART SCALPER EA, and more. Shortly, the main idea of the team that stands for this EA looks like:
This EA price is very low, only $97 (now it is being offered with a 20% discount and costs only $77). This package includes 4 accounts (1 Real and 3 Demo), 24/7 customer support, and 60- days money-back guarantee.
In this Gold Scalper Pro review, we will take a closer look at this EA and decide whether it is a good robot to be trusted or it is better to search for another one.
Gold Scalper Pro Trading Strategy
The vendors of Gold Scalper fail to provide a detailed trading strategy insight. They only say that their trading system does not use any risky trading approach. The trading strategy of this EA aims:
The system also uses Stop Loss and has a built-in entry and exit trading logic.
Long story short, the info provided on their website about the trading approach and methodology of this EA is not the holy grail, so if you decide to trade with this EA, do not expect miracles.
Gold Scalper Pro Features
The devs of GOLD Scalper PRO point out the main features of their product:
This EA comes with an in-built money management system where traders can easily choose the most suitable risk set in percentage and the software will calculate the required lot size according to the risk set and trader’s account free margin.
The time management system allows traders to adjust the software so that it will trade during specific timeframes.
Friday Exit System allows traders to configure the robot to close all the open trades on Friday evenings at the desired time.
Email and Push Notification system informs traders of all the trades.
Gold Scalper Pro Backtesting Results
The average backtest looks like this.
The backtesting has lasted for14 years. They started on June 11, 2004, and ended on November 30, 2018. The deposit was $1000. The total net profit equaled approximately 924K. For over 14 years, the robot has traded 1313 trades with an average profit trade of $1401 and a higher average loss of $-3393. The profit factor was high and equaled 2,43. The max drawdown has been 8, 85%. The average win-rate across trades has been between 84% (it has won 1122 out of 1313 trades).
Unfortunately, it is impossible to see if the devs have taken into account commissions, slippage, or swaps in backtesting. The above-mentioned factors may have a significant influence on the results of a trading strategy, especially the one that relies on scalping small price movements, like GOLD SCALPER PRO.
Gold Scalper Pro Live Trading Results
The FXAutomater team provides us with 1 myfxbook account n their sales page:
It is a DEMO USD account that works on the MT4 platform with IC Markets brokerage with 1:500 leverage. The account was launched on August 29, 2019. The initial deposit was $1000. For over 1 year of trading, the robot has obtained a 20.12% gain with a peak drawdown of 9.62%.
The robot has been placed 106 trades with 7537 pips. The average win is $6, 83, while the average loss is 4 times higher and equals -$23, 92. The longs won rate is 92% on 39 deals the shorts is 78%. The average trade length is 3 hours and 46 minutes. The profit factor is small and equals 1, 49.
The robot trades every day, from Monday to Friday.
As we can see from the screenshot below, the robot is trading with minimal trading risks:
It trades last longer than 12 + hours, there are higher chances that they’ll be closed with loss.
Gold Scalper Pro Reputation
FXAutomater team is a well-known company in the Forex market. They have developed many different EAs, including Gold Scalper Pro. This EA is characterized by many positive features, including its low price that could make this robot a good choice to invest money. However, because of a lack of transparency (the devs represent a Demo trading account on their sales pages), we cannot be 100% certain of the effectiveness of this robot. Moreover, we have decided to conduct additional research and find customers’ feedback to get a quantitative analysis of the trading performance of this EA. Unfortunately, we couldn’t find any customer review neither on the Forex Peace Army nor on the other forum. It does not increase confidence in this product or its reputation.
Gold Scalper Pro Review Summary
- Strategy – score (7/10)
- Functionality & Features – score (6/10)
- Trading Results – score (5/10)
- Reliability – score (4/10)
- Pricing – score (7/10)
Conclusion
The robot has many positive features, including its low price, backtesting results, and news filter. However, there are many minor flaws to invest in this software. There is no reason why traders have to buy the software even for such a low price. We do not like that the devs are not 100% transparent with us. If they have decided not to run the EA on a real trading account, you should not trust it with yours.
