Introduction
As a professional trader and programmer specializing in MQL5 from the EASY Trading Team, I've had the opportunity to evaluate numerous trading robots. In this review, we will delve into the features, pros, and cons of the GOLD Scalper PRO MT5, basing our insights on user comments and the provided rating of 4.88. Additionally, we will compare it to one of the EASY trading robots—EASY Trendopedia, EASY Scalperology, or EASY Breakopedia.
Comparison with EASY Scalperology
The GOLD Scalper PRO MT5 has garnered mixed reviews from users:
- User tlsf noted that manual trading with this robot could be detrimental due to a lack of knowledge and a significant default stop loss setting.
- Other users like romanzubrik and Asphyx Events found success in demo tests, highlighting profitability.
- ngonzalez777 praised the robot for its slow and steady approach, emphasizing its low-risk, non-martingale strategy.
Comparatively, EASY Scalperology stands out due to its:
- Optimized stop loss and take profit settings, reducing the risk for manual traders.
- Proven track record in both demo and live accounts, ensuring consistent results.
- Advanced algorithms that adjust dynamically to market conditions, enhancing reliability and profitability.
Pros and Cons
Here are the advantages and drawbacks of both robots:
GOLD Scalper PRO MT5
- Pros: Low-risk, non-martingale strategy, good demo performance.
- Cons: High default stop loss, mixed results in live trading, primarily effective before 2021.
EASY Scalperology
- Pros: Dynamic algorithm adjustments, optimized risk management, consistent demo and live performance.
- Cons: Requires more initial setup and calibration.
Optimal Usage Conditions
GOLD Scalper PRO MT5 works best under the following conditions:
- Automated trading in stable, low-volatility markets.
- Traders with experience in adjusting stop loss settings.
- Primarily effective in historical market conditions before 2021.
For the EASY Scalperology, it thrives in:
- Both volatile and stable market conditions due to dynamic adjustments.
- Traders seeking a hands-off, reliable trading strategy.
- Long-term consistent profitability in live accounts.
Source Code of GOLD Scalper PRO MT5
We do not have access to the original source code of the GOLD Scalper PRO MT5 sold on MQL5. However, our team can develop a trading robot based on its description and functionalities available on the MQL5 marketplace. If you have any questions about the code, please feel free to ask on our forum.
Code:
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If you have any questions or need further assistance, don't hesitate to reach out. This code example is provided by easytradingforum.com, based on the description of the GOLD Scalper PRO MT5 robot available on MQL5. Please note that the EASY Trading Team does not sell the GOLD Scalper PRO MT5 but offers a robot developed based on its description.