Live performance (forward test results) of GoldUxe EA

Although there are periods when profits are stagnant, this is a good result.

Trading strategy of GoldUxe EA

Entry point

GoldUxe Expert Advisor trades with a breakout strategy.

From the MT4 trading history chart below, you can see how a buy trade is executed when the price breaks out above the most recent high. This trade made a very small profit.

■XAUUSD　5 minutes　Chart　White=Buy entry　Red=Sell entry

The MT4 trading history chart below is an example of this EA’s breakout entry resulting in a loss.

■XAUUSD　1 minute　Chart　White=Buy entry　Red=Sell entry

Enter during periods of high volatility

GoldUxe Expert Advisor is filtering the entry time.
This EA trades in a highly volatile market during a specific time period, around 14:30 to 16:30 on GMT+2/3.

Since this is an EA that takes advantage of market momentum, it makes sense to enter during periods of high volatility.

Very tight scalping

This EA trades aiming for a very small pips range.

The MT4 chart below is displayed on a 30 minute timeframe. This shows the trading history of this EA over a long period of time.

■XAUUSD　30 minutes　Chart　White=Buy entry　Red=Sell entry

This EA does not hold positions for long periods of time, and immediately executes stop losses and take profits.

Take profit is executed in the range of 50 pips to 200 pips.
Take profit is not a fixed value and changes depending on the situation. The average is about 120 pips.

Most stop losses are set at 500 pips.

For pairs such as EURUSD and USDJPY, 50 pips is a relatively large value.
However, 50 pips for the XAUUSD pair is a very small value.

In other words, this EA is a very tight scalping EA.

Also, please note that the stop loss value is about 4 times larger than the take profit value. Wipe out three winning trades with one losing trade.

Lot size management using martingale

The table below is an excerpt of the trading history of this EA.

No	Open Date	Close Date	Symbol	Action	Units/Lots	Open Price	Close Price	Pips	Profit
1	04/03/2024 17:00	04/03/2024 17:00	XAUUSD	Buy	1.6	2280.69	2281.32	63	100.8
2	04/04/2024 17:01	04/04/2024 17:01	XAUUSD	Buy	1.53	2291.34	2292.78	144	220.32
3	04/05/2024 16:47	04/05/2024 16:50	XAUUSD	Buy	1.58	2299.47	2299.91	44	69.52
4	04/08/2024 16:34	04/08/2024 16:36	XAUUSD	Buy	1.59	2335.27	2330.22	-505	-802.95
5	04/09/2024 16:30	04/09/2024 16:31	XAUUSD	Buy	4.53	2353.94	2354.67	73	330.69
								total profit	-81.62

After losing 505 pips on trade No. 4, No. 5 is trading with 3x lot size. This EA uses the martingale method.

A typical martingale EA is designed to completely recover the loss of the previous trade.
However, this EA does not completely recover the previous loss.

In the table above, trade No. 4 made a loss of $802, while trade No. 5 with 3x lot size made a profit of only $303.
When offset, the loss is approximately $499, which means that the previous losing trade is not completely recovered.

This is because the value of take profit is extremely small compared to stop loss.
Even if the lot size is tripled, the pips width of the take profit is extremely small, so the loss of the previous trade will not be completely recovered.

No grid

GoldUxe Expert Advisor does not use grid trading.
That is, additional positions will not be opened even if the price moves in an unfavorable direction.
All trades execute take profit and stop loss individually. Therefore, the risk per trade is limited.

Risks of GoldUxe Expert Advisor

it is a very tight scalping EA, and the other is that it uses the martingale method.

Notes on scalping EA

The results will vary greatly depending on the environment in which the scalping EA is run.
Reference article: Scalping EA – Must read to decide whether Risky or profitable

First, results will vary depending on the broker you use. If the broker has high trading costs such as spreads and commissions, the trading costs may offset the profits earned by GoldUxe Expert Advisor.

Also, the execution speed and slippage that occur differs depending on the broker.
The broker’s execution speed and slippage have a huge impact on GoldUxe Expert Advisor accumulating small pips of profit.

Also, the location of the terminal running the EA and the physical distance from the broker trade server are important.
If the distance from the broker’s trade server is far, the communication time will be approximately 100ms to 300ms.
It’s a small amount of time, but it makes a big difference in the results of that scalping EA.

The results obtained with scalping EAs vary greatly depending on the operating environment, so it is not guaranteed that you will get the same results as the vendor.

However, this vendor has published forward tests using real accounts for two brokers. This is good.
The brokers they use are Global Markets Group and IC Markets.
Although there are differences in the trading results of both brokers, both are profitable.

Martingale method

As already explained, this EA uses the martingale method.
Reference article:Martingale EA Risks and Benefits | Is it profitable?

The weakness of the Martingale method is that if consecutive losses occur, the account will collapse.

Although this EA has relatively low risk compared to other martingale EAs, it also has disadvantages.
This EA’s take profit is very small compared to the stop loss, so the possibility of continuous losses is low.
On the other hand, this will not completely recover the losses from the previous trade, which will lead to a stagnant account balance.

Backtest results of GoldUxe EA

The backtest provided by the vendor is for 3 years.
This is not enough backtesting period.
Long-term backtesting may not have yielded good results.

Conclusion of GoldUxe EA

This EA performs very tight scalping, so there is concern that the results may vary depending on the operating environment.
The vendor performs forward testing with two brokers, so it may be profitable with multiple brokers.

This EA uses the martingale method.
The winning rate is high because the stop loss is set to a much larger value than the take profit. This avoids consecutive losses, which is the weakness of martingale.
However, this has the disadvantage of not being able to recover the previous loss, resulting in a stagnation of the account’s earnings.

Since the backtest period is very short, we should pay attention to the results of future forward tests.

Users should fully understand the features and risks of this EA before purchasing and using it.

An EA similar to GoldUxe Expert Advisor is Happy Gold EA. Please check this out if you are interested.