Gold Extractor Review

The Gold Extractor can be used with ECN brokers, and it works well with M15 or M5 charts. According to the vendor, traders may use this panel to manually trade. You can use the traling function to stop trades and recover from martingales. We will review all aspects of expert advisor profitability to determine credibility.

Trading strategy explanation

A scalper, Gold Extractor EA, uses negative correlations and real-time data fundamentals to trade. According to the developer, the country policies affect gold and therefore the changes in bond and stock prices lead to an increase in gold price which then gets capitalized by the system. According to the developer, the minimum deposit is $500 and the charts required are M15/M5. A news filter is also used.

Developer didn’t reveal important information like indicators, magic numbers or EA settings. It raises doubts about the robot’s ability to perform. We can see the usage of grid and martingale strategies in MQL 5’s history.

Backtest data analysis

Backtesting records are not available for the expert advisor. Developer says that EAs use a newsfilter with fundamental online data for trades. This makes it impossible to backtest strategies. These data cannot predict the future but traders use them to determine the robot’s past performance based on historical data.

Live trading data analysis

You can access unverified live trading records from the EA on the MQL5 Website. Trading began on the account at 04.10.2021, and it has been active since then. The system made 84.3% of its initial $500 profit and placed 77 trades per week. A robot can place 77 trades each week. The average hold time is 39 minutes.

This system executed 2231 executions but only lost 350. It does not appear to be a very profitable algorithm. The average profit is $1.28 and the average loss, -$4.53.

Maximum drawdown is at 49.4% with a profit ratio of 1.51. Examining the drawdown graph reveals that the system is vulnerable to instability and fluctuation.

Pricing

For $220, the Gold Extractor can be purchased. There are two rental options available: $45 per month or $99. Three-month rentals for $99. Developer offers free demos but does not provide details about the refund policy or any post-purchase procedure.

Vendor transparency

The expert advisor’s developer is Sara Sabaghi, a Swedish woman. There are seven products from the developer and four signals on MQL5 Platform. We don’t know if the developer is an expert in Forex markets or whereabouts.

Review summary

The key insights that Gold Extractor does not have are backtesting or strategical approach. These can help to understand the robot’s performance and make better investments. High drawdown and martingale are also examples of a risky strategy. The vendor’s moneyback policies and features after purchase are not clearly explained to traders, creating doubts about the EA’s credibility.