InvestGrail
  • Top FX EAs
  • Investing 101
    • Crypto
    • Options
    • Forex
    • Stock Market
  • Strategies
    • Day Trading
    • Swing Trading
    • Arbitrage
    • Investing
    • Options
  • Analysis
    • Technical Analysis
    • Fundamental Analysis
  • Reviews
    • Online Brokers
    • Forex Expert Advisors
    • Crypto Robots
    • Investing Apps
  • Top Articles
    • Best Forex Robots – Top 6 FX EAs 2022
    • Best Desktop Crypto Portfolio Trackers
    • Best 6 Forex Brokers That Accepts Crypto Deposit for Trading
    • The Best Copy Trading Platforms List: Pros, Cons and Comparison
    • Top 5 Best Coins to Mine for Beginners
    • Top 5 Best Gaming Crypto Coins to Participate
Forex Expert AdvisorsReviews

Gold Scalper Pro Review: Is This Forex Robot Profitable or Not?

by manager91 02/10/2022
02/10/2022

Gold Scalper Pro is alleged to be a very efficient and lucrative trading algorithm professionally created to trade the XAUUSD currency pair. It doesn’t work with high-risk strategies such as grid and martingale. According to the vendor, the system applies a strong and reliable trading logic that needs a few parameters to generate profits.  

To acquire this robot, you need to pay $159. You can begin trading with the system on your demo or real accounts immediately. The package comes with a 60-day refund policy as well. 

Discover 10 Best FX EAs That Are Worth Investing

Is Gold Scalper Pro good?

As you will see later in our review, the EA is a low-income earner. However, it features several protection systems that help it to minimize trading risks. 

Features of Gold Scalper Pro

Trading TerminalsMT4, MT5
StrategyPosition entry
TimeframeM1, M15
Price$159
Money Refund60 days
Recommended Deposit$1000-$5000
Recommended LeverageN/A
Money managementYes
Customer reviewsN/A

The robot comes with the following additional features:

  • Advanced news filter and money management system
  • Customer support
  • Advanced time management system
  • Email and push notification system
  • Friday exit system
  • High spread, slippage, and broker protection 

What strategy does Gold Scalper Pro use?

According to the vendor, the EA applies a position entry in the direction of a distinctive market impulse and a following correction. It also applies reasonable stop loss levels and an efficient entry and exit trading logic. 

Backtesting vs live trading results

Backtest results

The EA traded on the M15 chart using the XAUUSD currency pair. The trading period data ranged between June 2004 and November 2018. With a deposit of $1000, the robot conducted 1313 trades and attained a decent profit of $924389.48. 

Unfortunately, the average loss trade (-$3393.59) was higher compared to the average profit trade ($1401.57). For the most part, the EA recorded more losses than wins. There was a drawdown of 8.85%. The success rates for short and long positions were 84.65% and 86.29%, respectively. 

Trading results on Myfxbook

The profitability rate of the EA in a live account is much lower compared to the simulation period. In more than 2 years of trading, it has only generated a profit of $659.51 from a deposit of $1000. The trading risks are almost similar to the backtesting period, as the account has recorded a drawdown of 8.87%. This tells us that Gold Scalper Pro is a low-risk trader. The growth rate of the account currently stands at 66.74%. 

Trading performance on Myfxbook

The EA has implemented 260 trades with 7.82 lots. Similar to the testing phase, this system also generates more losses than wins. As you can see, we have a higher average loss (-749.42 pips) than the average win (218.86 pips). The profit factor is 1.77. On average, a trade is held for 5 hours and 5 minutes. 

Risk of ruin on Myfxbook

This account is about to get burned.

Trading history on Myfxbook

Varying lot sizes and small time frames were used. Minute profits were realized.  

Monthly gains

The monthly performance of the EA was inconsistent in 2021. 

The core team

Gold Scalper Pro was developed by the FxAutomater team, which claims to have been trading in this market for 15+ years and developing trading tools for a decade now. The team includes active Forex traders and committed investors. Their main goal is to create, research, test, and unveil trading algorithms and systems for traders’ benefits. Even then, the names of the devs and individual professional backgrounds remain hidden. 

End notes

End notes

The available backtest and live trading data prove that the EA is really a low-risk strategy. On both occasions, it was able to keep the drawdown level small. However, the system grows an account at a low rate, so it may take the user a while before they break even. Also, over time, its trading activities may deteriorate an account’s value.

InvestGrail
  • Yield
    4
  • Reliability
    6
  • Trading approach
    4
  • Consistency
    5
  • Customer support
    3
The Goods
  • Fully automated
  • Several protection systems are available
The Bads
  • Low profitability rate
  • Inconsistent monthly performance
  • Vendor transparency is insufficient
  • High risk of ruin
4.4 2.2 5
Average Score
Discover 10 Best FX EAs That Are Worth Investing
Share
0
FacebookTwitterPinterest
previous post
FX Oxygen Review: Is This Forex Robot Profitable or Not?
next post
Range Trading Crypto Strategy: How to Use and Make Profit

Related Posts

The 5%ers Review

08/18/2023

FundedNext Review

08/16/2023

Topstep Forex Review

08/14/2023

FTMO Review

08/12/2023

SurgeTrader Review

08/10/2023

Tech Trader Review

08/08/2023

Tickeron Review

08/06/2023

BlackBoxStocks Review

08/04/2023

Trend Spider Review

08/02/2023

Trade Ideas Review

07/31/2023

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

46  +    =  56

Recent Posts

  • FioBit’s Ultimate Dogecoin Cloud Mining Guide for 2025: Secure DOGE Investment Without Hardware Using the Most Trusted Crypto Mining Provider to Hedge Against Bitcoin Drops | Business Upturn
  • Analysts see Bitcoin at $100,000 soon
  • Spartan Delta Corp. Announces First Quarter 2025 Results
  • XRP trading volume steady at $3.2B in Q1, but XRPL activity contracts sharply · Cardano Feed
  • Totally free Bucks, Bonus Drops, and Match Also provides from Golden Grimoire Rtp $1 deposit the Wager Big Dollars Casino – América Digital

Top Articles

  • The Best Copy Trading Platforms List: Pros, Cons and Comparison

    06/28/2022
  • Best 5 Silver Backed Cryptocurrency to Buy Right Now

    05/09/2022
  • Desktop Crypto Portfolio Tracker: Best 5 for Investing & Active Learning

    04/23/2022
  • Top 5 Best Coins to Mine for Beginners

    10/04/2021
  • Best Forex Robots – Top 10 FX EAs 2022

    10/04/2021

Categories

  • Analysis (17)
    • Fundamental Analysis (9)
    • Technical Analysis (8)
  • Investing 101 (112)
    • Crypto (66)
    • Forex (8)
    • Options (6)
    • Stock Market (32)
  • News (102)
  • Reviews (183)
    • Brokers (7)
    • Crypto Robots (26)
    • Forex Expert Advisors (138)
    • Forex Signals (2)
    • Investing Apps (9)
  • Strategies (90)
    • Arbitrage (12)
    • Day Trading (25)
    • Investing (18)
    • Options (13)
    • Swing Trading (19)
  • Top (7)
  • Uncategorized (5)
  • Home
  • Contacts

@2023 - All Right Reserved. Investgrail.com

InvestGrail
  • Top FX EAs
  • Investing 101
    • Crypto
    • Options
    • Forex
    • Stock Market
  • Strategies
    • Day Trading
    • Swing Trading
    • Arbitrage
    • Investing
    • Options
  • Analysis
    • Technical Analysis
    • Fundamental Analysis
  • Reviews
    • Online Brokers
    • Forex Expert Advisors
    • Crypto Robots
    • Investing Apps
  • Top Articles
    • Best Forex Robots – Top 6 FX EAs 2022
    • Best Desktop Crypto Portfolio Trackers
    • Best 6 Forex Brokers That Accepts Crypto Deposit for Trading
    • The Best Copy Trading Platforms List: Pros, Cons and Comparison
    • Top 5 Best Coins to Mine for Beginners
    • Top 5 Best Gaming Crypto Coins to Participate