- June 12, 2024
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Introduction to GoldGuardian AI
GoldGuardian AI is a cutting-edge Expert Advisor (EA) designed specifically for forex trading on the Gold (XAUUSD) pair. Developed by leveraging the Price Action Method and Artificial Intelligence technologies, GoldGuardian AI offers a unique approach to trading that eschews traditional indicators. This EA has demonstrated stable performance over a span of more than 10 years, making it a reliable choice for traders. Importantly, GoldGuardian AI avoids high-risk trading strategies such as martingale, and every transaction is safeguarded with take-profit and stop-loss mechanisms.
Technical Specifications
Version: 2.3
Year of issue: 2024
Working pairs: XAUUSD
Recommended timeframe: M5
Minimum Deposit: $100
Average of account: 1:30 To 1:1000
Best Brokers List
GoldGuardian AI works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:
GoldGuardian AI Settings
Key Features and Functionalities
Simple Installation and Use
One of the standout features of GoldGuardian AI is its simplicity. The advisor is fully optimized, requiring minimal setup. Users need only to install it on their trading chart, with very few settings to adjust. However, for those who desire additional functionality, the developer is open to adding new features.
Time Settings
- Start Hour/Minute: Define the exact time for the EA to start operating.
- End Hour/Minute: Specify when the EA should stop its operations.
- Additional Time Period: Enable this to set a secondary operational period, increasing trading intensity.
Risk & Volume Settings
- Risk Percentage: Set the risk per trade as a percentage of your deposit.
- Risk Profile: Choose between Low, Medium, and High risk profiles, which determine trading volume based on your deposit.
- Fixed Volume: Establish a fixed lot size for all trades, overriding the risk percentage and profile settings.
Recovery Settings
- Recovery Mode: Enable this to increase the trading lot after a losing trade, aimed at recovering losses.
- Recovery Coefficient: Define the multiplier for the lot size after a loss.
Take Profit & Stop Loss Settings
- Take Profit: Set the amount of points for taking profit.
- Stop Loss: Specify the number of points for stopping a loss.
Trail Settings
- Trailing Activation: Turn on the trailing function.
- Trailing Trigger: Set the points movement needed to activate the trailing function.
Additional Settings
- Deals: Limit the number of open trades in the market.
- Slippage: Apply a slippage filter.
- Comments: Add custom comments for your trades.
- Magic Number: Use this to identify trades uniquely, without affecting trading.
News Filter Settings
- News Filter: Enable to avoid trading during high-impact news releases.
- Period Before/After News: Set the time intervals to avoid trading around news events.
For the news filter to work correctly, users need to allow web requests to the URL: https://sslecal2.forexprostools.com.
Review GoldGuardian AI Results
- Growth: The account has grown by 741.00 yen, which is equivalent to around $6.88 USD (at the current exchange rate). This is a relatively small profit considering the account balance is over $1,500 USD.
- Profit: The total profit is $1,091.09 USD.
- Profit Trades: The win rate is 93.5%, which is very high. However, it is important to consider the risk/reward ratio of the trades. A high win rate with small wins and large losses could still result in a losing strategy.
- Maximum Drawdown: The maximum drawdown is 26.8%. This is a significant drawdown, and it indicates that the account value dropped by 26.8% at one point.
- Balance: The current account balance is $1,510.09 USD.
- Initial Deposit: The initial deposit was $119.00 USD. This suggests that the account has been profitable overall.
Here are some additional things to consider when evaluating the performance of an EA:
- Sample Size: The data only shows the performance over 13 weeks. This is a relatively short period of time to evaluate the long-term viability of an EA.
- Trading Conditions: The performance of an EA can vary depending on market conditions. The data does not show how the EA would have performed in different market conditions.
- Risk Management: The dashboard does not show any information about the risk management settings of the EA. It is important to use a well-defined risk management strategy with any trading system.
Advantages of GoldGuardian AI
- No Martingale Strategy: Avoids the high risk associated with martingale trading methods.
- Stop-Loss Protection: Every position is protected by a stop-loss, mitigating potential losses.
- Ease of Use: Extremely user-friendly with straightforward installation and minimal settings adjustment.
- Stable Performance: Proven track record of stability over 10+ years.
- Flexible Customization: Options for adjusting risk, volume, and operational timings to suit individual trading styles.
Disadvantages of GoldGuardian AI
- Limited to Gold Pair: The EA is designed specifically for the XAUUSD pair, limiting its use to traders interested in gold.
- Dependent on VPS: For optimal performance, it is recommended to use a Virtual Private Server (VPS) to keep the EA running 24/7.
- GMT Offset Requirement: Users need to adjust the EA’s settings according to the GMT OFFSET +3 for correct operation.
- Initial Setup Required for News Filter: To use the news filter, users must configure web request settings, which may be complex for some.
Final Thoughts
GoldGuardian AI presents a sophisticated yet user-friendly tool for forex traders focusing on gold. Its integration of AI and Price Action Method, coupled with a decade-long track record of stable performance, makes it a compelling choice. However, its specific focus on the XAUUSD pair and the necessity for VPS and GMT offset adjustments might limit its appeal to a broader audience. Nonetheless, for those trading gold, GoldGuardian AI offers robust protection against losses and an opportunity to capitalize on market movements effectively.
Download GoldGuardian AI
Please try for at least a week an ICMarket demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.
Disclaimer: Trading Forex carries a high level of risk and may not be suitable for all investors. Past performance is not indicative of future results. Always conduct thorough research and consult with a financial advisor before making any investment decisions.
Important Note: Before using and testing this EA, ensure that it is set to work with GMT OFFSET +3. Additionally, after purchasing the EA, reach out to the developer privately for a surprise bonus.
