New promising trading robot Scouts Gold EA. Today we will try to reveal its secrets for you. FREE Download link is at the bottom of the page. The author of this trading bot is selling it for $1500. On our site you get it for free! Also in this article you will find a detailed review of this expert advisor and will be able to decide whether to use it or not.
EA Scouts Gold MyFxbook
The first good news is that we have found EA Scouts Gold MyFxbook monitoring. The author of this Expert Advisor decided to make an open review of the Expert Advisor’s trading results. However, there are not very many points of earned profit on this monitoring. Total +45%:
Earlier we wrote that this is a new trading bot that has been around for less than 1 year. So this Forex software is on its way now. Perhaps this is the main reason for the small percentage of profit on the account.
We see a small trading drawdown of 13% and a good profit factor that reaches a solid value of 2.57:
The excellent ratio of Average Win: 175.21 pips / Average Loss: -340.98 pips indicates that the EA has a very good trading strategy, where profits are much greater than losses.
However, the bad news is that Scouts Gold EA FREE Download does not use Stop Loss orders. And it can be a big problem if the price goes in the wrong direction. If this happens, Forex EA Scouts Gold begins to average the cost of the purchased asset – that is, to open new transactions. Building a grid in most cases helps to significantly increase profits. If the quotes turn in the right direction, then you will get a good profit. However, if the price continues in the wrong direction, then you will simply lose your deposit. That is why, when using trading bots with a dangerous strategy, it is important to withdraw all profits from the trading account. Only profitability reaches 100% – you must immediately withdraw all profits from the account. Only in this way you can save your capital from loss of funds! The main thing is that Scouts Gold EA FREE Download has time to double the capital before it is lost …
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EA Scouts Gold review - trading strategy
As far as the trading strategy that Forex EA Scouts Gold uses is trend trading. The EA analyzes the trend direction and waits for the quotes to roll back against the trend direction. As soon as such a pullback occurs, the Scouts Gold Expert Advisor places an order in the direction of the trend in the hope that the quotes will continue their trend. If the price continues to correct or the trend has reversed, then Scouts Gold EA will place grid orders in order to average the value of the asset and get the total profit on a series of orders. Thus, in 99% of cases, the adviser receives a total profit and closes a series of orders with a profit.
The trading time of this bot is around the clock:
As for the average time of holding open deals in the market, it is about 1-2 hours. This Forex Expert Advisor trades on the M1 timeframe and can be classified as a high-frequency scalper. Lots of quick trades and lots of small profits…
How to Use Scouts Gold EA FREE Download Properly
- Minimum deposit – 1000$
- Required leverage: 1:500
- Asset to trade: XAUUSD (GOLD)
- Timeframe for installing Scouts Gold: M1
- Recommended Broker: Any broker with scalping accounts (narrow spread). For example, RAW Spread accounts from ICMarkets broker.
- Withdraw the net profit from the account, every time the adviser earns +100%.
Our opinion on Forex EA Scouts Gold
This is a dangerous Expert Advisor and sooner or later it will kill your trading account. However, up to this point, you will be able to withdraw profits from your trading account 4-5 times. That is, you still make a profit. So it can be used. Scouts Gold EA FREE Download is capable of making a lot of money, but it will do so at great risk to your funds. If you will protect your capital, then of course you can start using this Expert Advisor. We remind you that you need to start testing the bot on a DEMO account. When it doubles your capital, you can put it on a real account.