Many traders want to trade gold. If you are one of them, then the Bonnitta Gold MT5 expert advisor has been created for you, which is currently in the first line of the MQL5 community rating and shows high growth percentages on monitoring. However, we will review Bonnitta Gold EA so that you do not make a mistake with the choice and do not waste your money in vain. Indeed, today the cost of this Forex bot is $2500. That’s a lot, don’t you agree? So let’s get started!
EA Bonnitta Gold MT5 - profitability in the strategy tester
We have often seen trading robots that give huge percentages of profits in the MT4/MT5 tester and a modest percentage of (comparatively) profits on a real account. Bonnitta Gold for MetaTtrader 5 is exactly the case.
So, in the strategy tester, this EA shows very, very good deposit growth. According to the published test statistics, this Forex software is able to bring the user about 2000% profit in just 1 year. That is, increase the initial investment amount by 20 times. You start trading with a deposit of $200 and at the end of the year you get $4,000. However, in reality, everything is completely different.
In accordance with the real monitoring of the trading account, Bonnitta Gold EA gives about 300% per year (this is also very worthy, but does not correspond to the declared profitability parameters and suggests that the developer is trying to deceive its customers).
Bonnitta Gold EA MT5 - real account profitability
According to Bonnitta Gold MT5 MyFxbook and MQL5 monitoring, the average monthly profitability of this bot is about 20-25%. This is a good result. The maximum trading drawdown in this case is 28%. On the one hand, this is a lot, but on the other hand, when you read the features of the Bonnitta Gold EA trading strategy (they are described below), you will understand why the trade drawdown is so large. However, let’s return to the analysis of the profitability chart of this Forex bot.
According to monitoring on a real account, EA Bonnitta Gold trades exclusively on the Gold asset (XAUUSD). This is a popular asset, especially among novice traders, who for some reason believe that if you trade on gold, then profitability will be higher (which is not true).
The average time to hold a deal in the market is about 19 hours. The profit factor is higher than “3”. And as we noted above, if you use this Expert Advisor for a year, you will get about 300% profit. Everything looks very tempting. But, let’s move on to the Bonnitta Gold MT5 trading strategy and try to correctly evaluate the effectiveness of this Forex Expert Advisor.
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Bonnitta Gold Forex EA Trading Strategy
Gold (XAUUSD), which is traded by Bonnitta Gold MT4/MT5 Forex software, is a trending asset and the trading strategy is to trade in the direction of the trend. At the same time, if the quotes of this asset go in the wrong direction, then the adviser applies the tactics of cost averaging, that is, it uses a grid of orders. Stop Loss is not used.
Monitoring on a real account has been going on for about 6 months and we cannot correctly analyze the work of EA Bonnitta Gold. We can see that from time to time a trading drawdown occurs on the account equity on the profitability chart of the Expert Advisor (you can see the characteristic “sagging” of the line, which displays the value of the amount of free margin on the account. As we noted above, this line “sagged” by 28% to the maximum. This is not too much, but not too little.The EA uses a grid of orders and if the market moves against open trades for a longer time, then the account will have a much larger trade drawdown and you can lose all your money.After all, the EA does not use Stop Loss.
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Our Opinion on Forex Software Bonnitta Gold
We won’t say that EA Bonnitta Gold is trash or a scam. No, this Expert Advisor trades quite adequately and brings high profits. The test results do not correspond to the results of real trading, but real trading still makes a profit. This is about 300% per year and this is a high good result. But there are several reasons not to buy this trading robot:
-It does not use Stop Loss to protect the trader’s capital
-It uses a grid of orders for averaging, which potentially increases the trade drawdown.
Together, these factors represent a very, very big danger. We can say with confidence that if you buy Bonnitta Gold MT5, sooner or later you will lose your trading account.