ReviewsTrading Robots

AutoPip EA Gold Review

0
AutoPip EA Gold

AutoPip EA Gold trades on Gold (XAUUSD), Bitcoin (BTCUSD), and EURUSD using high-performance indicators. It also has a built-in news filter and a safe stop-loss option used for money management strategy. The expert advisor works on M15 trading charts and is recommended to be used on ECN brokers. In this AutoPip EA review, you will find out about the potential features, drawdown, and profitability of the robot.

Neil Thomas Campbell Forbes is the author of the EA situated in the United Kingdom. They have 3 products in the marketplace including Mad Gold Scalper, Black Gold EA, and Auto Pip EA Gold.

AutoPip EA Gold trades on the Metatrader 4 or the Metatrader 5 platform. It uses trailing stop, RSI, magic numbers, and Pause Before News/Pause After News strategies for better money management. The minimum deposit and recommended deposit amounts are $500 and $1000, respectively. Traders can also use a cent account to trade.

What is behind the AutoPip EA Gold?

The algorithm will perform market analysis based on the coded information in MQL4 or 5 languages. It uses a magic number to identify the positions and has various inbuilt settings such as money management, multiplier, and distance.

Use the following steps to go ahead with the program:

  1. Purchase the robot
  2. Download the robot files on your computer
  3. Open MT4 on your PC and log in to your account
  4. Place the downloaded EA files into the charts section
  5. Enable auto-trading

Key features

The robot has the following key features:

  • The algorithm trades on the MT4/5 platform.
  • Traders can use it on ECN brokers.
  • A magic number is employed to control trades.
  • It’s easy to install and run.
  • Uses unique strategies (money management, trailing stop, news filter, etc.)

Trading strategy

The robot works on XAUUSD, BTCUSD, and EURUSD on the M15 timeframe. We can conclude from the developer statements that it uses trend analysis and multiple indicators to place trades.

From the live history available on Myfxbook records, we observe the use of grid and martingale strategies. The average trade duration of 9 hours and 22 minutes justifies the day trading approach.

Trading history on Myfxbook

Trading history on Myfxbook

The vendor provided backtesting records on the XAUUSD chart at the M15 timeframe. The relative drawdown was counted as 26.71%, and the system participated in 9526 trades, out of which 6464 trades were winning, and 3062 were losing. The data consist of 226343361 ticks with a history quality of 99.90%. The gross profit was 41274.52, and the gross loss was -27654.75.

Backtesting results of the robot

Backtesting results of the robot

Pricing

AutoPip EA Gold comes at $50, and a one-month renting option is also available for $30. Although the price of the expert advisor is low, the vendor doesn’t accommodate any money-back guarantee.

MasterCard, UnionPay, WebMoney, and Visa process the transactions, and a third-party Cardpay payment system verifies the payments.

Pricing of EA

Pricing of EA

Trading performance of AutoPip EA Gold

The live track record of the algorithm is available on Myfxbook from August 24, 2021, till November 11, 2021. The vendor closed the live trading stats for some unknown reasons after three months. The robot shows a higher drawdown percentage of 30.07%, with a total monthly gain of -12.99%. This drawdown value is high, and the account is deficient, with the net profits being seen as -£1,383.35. The monthly gain of the system as of now is at -5.03%.

The winning rate stood at 67%, with a profit factor of 0.74. Out of 492 executions, the best trade was $164.50, while the worst was -$271.71.

Live trading records on Myfxbook

Live trading records on Myfxbook

Customer support

The vendor doesn’t claim any customer support along with the purchase. Traders can only contact them using the comment section available on the MQL5 website.

People feedback

There are seven customer reviews present on the MQL5 platform with a rating of 4.57/5. Most of the comments are satisfactory, but one trader states that the expert advisor is not showing promising results.

Customer review on MQL5

Customer review on MQL5

AutoPip EA Gold: Worth it or not?

6

AutoPip EA Gold backtesting results show that the robot took a low-risk approach, but in the live trading results of the three months, the stats exabit the contrary. The algorithm has a very high drawdown value and implements a risky strategy which results in a poor win rate. Little information about the developer is available for traders making it hard to trust the system's credibility.

  • Reasonable pricing
  • High drawdown value with a poor win rate
  • No refund option is available
  • Lack of information about the vendor

Quantum Computing Stocks: Top 3 to Watch in and Buy

Previous article

What Is the Most Accurate and Best Crypto Portfolio Tracker?

Next article

You may also like

Comments

Leave a reply

Your email address will not be published.

More in Reviews