Expert Advisor Go Go Gold is an auto-trading robot exclusively for the Gold market (for XAUUSD). The EA uses intelligent and proprietary algorithms in building this automated trading system to continuously monitor the price movement in combination with volume fluctuations in search of the best trading opportunities. TickChart patterns with Volume confirmation often produce high probability signals, EA adopts scalper strategy with good signals and applies smart position management strategy with floating positions. In addition, there are appropriate risk management customizations.
The EA has built-in risk management tools such as ‘Max Drawdown %’ and ‘Closed all on Friday’ feature that help protect accounts against bad positions. You can customize these parameters according to your risk management plan.
The EA has been optimized for Gold and you only need to use default setting (for Gold XAUUSD with 2 decimal places).
|Max Spread||= 30 to 50 (Must be higher than the average spread of the pair)|
|Fixed Lot||= 0.0 (activated Auto Lot); Fixed Lot > 0 (your manual lot size)|
|Auto Lot||= 0.5 to 2.0 (=1 means auto lot size = 1 lots per $100,000 balance, or 0.01 lots per $1,000 balance…)|
|Trailing||= 9 (points)|
|Max Drawdown %||= 0 or you value (= 0 means not use)|
|Closed all on Friday||= True or False|
|Magic Number||= 9999|
* If you set Fixed Lot > 0, the EA will trade with Lot Size = Fixed Lot (if Fixed Lot is a valid lot size).
* If you set Fixed Lot = 0 and Auto Lot > 0, the EA will calculate the Lot Size according to the value of Auto Lot.
Pair: XAUUSD. Time frame: M1 timeframe. Use VPS with low latency (<10ms).
Use EA with ECN or Raw spread accounts, spread < 25 points. Min Balance: $ 500
Stops Level = 0 (check the Stops Level by: Press Ctrl + U, select currency pair, click Properties and Stops Level on the 3rd line)
Should not use this EA with another EA on the same account. Do not make deposits or withdrawals while the EA has open positions.
Download history before backtest (Press F2, find currency pair, then Download). Backtest with model: Every tick.
+ If you use EA with Gold and the price has 3 decimal places (like 1900.123), then you need to increase 10 times the value of Max Spread, Take Profit, Trailing parameters. For example, set Take Profit = 6000 (instead of the default value = 600). Because Point calculation is different with 2 decimal places.
+ If you want to deposit or withdraw while having floating trading positions, you need to: Disable Auto Trading, press F3 to open the Global Variables panel and delete the information in that table, make a deposit or withdrawal , then Enable Auto Trading.