Promax Gold EA is an expert advisor that was designed for trading XAUUSD (Gold). The developer is a well-known company called Sinry Advice. It’s a quite known producer among other Forex related developers.
The presentation looks common for the Sinry Advice’s robot. Usually, there are no backtest reports published, a few details about how the system works. Anyway, it’s time to figure out if it’s a good system or not.
What is behind Promax Gold EA?
The system has some information about it explained:
- Therobot can work automatically for us. We don’t need to do anything in addition after applying it on the terminal.
- The system uses a News Filter to avoid trading during determined hours.
- We can expect to receive from 20% to up to 40% of the monthly profit.
- The system can calculate Lot Sizes fully automatically.
- The only terminal the robot can work on is MT4.
- It works well with default settings.
- We can trade on demo or real accounts.
- There are no extra fees, only one-time payments.
- The robot is delivered with updates and upgrades.
- Setting the system up takes several minutes.
- ECN account trading is crucial for the robot.
- The robot trades with huge drawdown periods.
- The system has some restrictions. We aren’t allowed to open trades when the system works.
- There’s no additional trading from other advisors allowed.
- The system can’t work on the Mini or Cent accounts.
- The advisor trades Gold on the M5 time frame.
- A VPS service is the requirement.
- We’re offered to use an Opoforex broker.
- The leverage should be not less than 1:500.
- The minimal deposit requirements are $1000.
- The system executes a Grid of orders with Martingale.
- We can work with XAU/USD.
- The company doesn’t publish backtest reports on the site. It’s typical behavior. So, for us, it’s bad because we have no idea how well the system was tested.
- The robot costs $198 for a digital copy. The price without discount is $390.
- We have a common refund policy for Sinry Advice – 14 days.
- Others offer 30 days.
Trading Performance of Promax Gold EA
There’s a real USD account on Opoforex (it’s an extreme rate choice for big deposit trading). The advisor trades automatically. The leverage is 1:500. The account has a verified track record. It was created on April 25, 2021, and funded at $100,000. Since then, the absolute gain has become 29.04%. An average monthly gain is 16.00%. The maximum drawdown is high – 53.02%.
he advisor has executed 198 orders with 8573 pips. An average win is 178.97 pips when an average loss is -547.05 pips. It opens orders only in the Long direction. The win rate is 81%. An average trade length is three hours and twenty minutes. The Profit Factor is 1.89.
The advisor ignores trading in the Short direction.
There are four hours of high-impact news when the orders are placed.
The robot avoids trading much during Monday and Wednesday.
The system works with the medium risk to the account balance.
The advisor is profitable only because it uses insanely high Martingale in Grids of orders. This “game” can simply be ended with reaching Stop Out levels. You have to be a professional trader to calculate margin well.
The robot is profitable so far.
Sinry Advice usually provides good support and answers quickly. A con is that their English is bad.
The presentation includes testimonials that form a positive rate for the product.
Sinry Advice runs a Telegram channel with 2222 subscribers.
The developers are going to update the system after 54% drawdowns.