Autopip EA Gold Review: A Comprehensive Analysis

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Autopip EA Gold is an automated trading system designed to trade Gold (XAUUSD), Bitcoin (BTCUSD), and EURUSD currency pairs. Developed by Neill Thomas Campbell Forbes and released in late 2021, this expert advisor (EA) promises high returns with intelligent risk management. But does it deliver on its claims? Let’s analyze its features, strategies, and real-world performance to find out.

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Overview of Autopip EA Gold

Autopip EA Gold markets itself as a “fully automated strategy with daily trading using high performance indicators.” Key features include:

Compatibility with MetaTrader 4 and MetaTrader 5
Default settings optimized for XAUUSD, XAUAUD, and EURUSD pairs on 15-minute timeframe
Built-in news filter to avoid trading during high-impact events
Risk management features like drawdown protection and money management
Manual trading tools to control trades

The developer provides backtests suggesting high profitability with low drawdown. However, we know backtests don’t always translate to live results. So let’s examine real account statistics next.

Live Performance Results

Autopip EA Gold has been running on a live MetaTrader 5 account since August 2021. With an initial deposit of $1000, it has achieved:

Profit: $1760 (176% gain)
Drawdown: 40.6%
Monthly Gain: 25.33%
Profit Factor: 1.79

These metrics indicate decent profitability, especially the over 170% account growth. However, a drawdown above 40% shows the EA tends to take substantial losses during unfavorable market swings.

Analyzing the detailed trading report reveals further insights. Out of 390 trades, 67.86% were profitable with an average profit of $20 per trade. Losing trades averaged -$56 loss. This implies a risky approach favoring big wins while tolerating even bigger losses when stops hit.

So while Autopip EA Gold can accumulate profits during normal conditions, its high-risk methods open it to margin calls during large drawdowns. Let’s investigate its strategies next.

Autopip EA Gold Trading Strategies

The developer discloses limited details about the actual trading techniques. From the descriptions and live results, we can deduce:

1. Grid and Martingale Money Management

Autopip EA Gold likely utilizes grid and martingale strategies judging by its tendency to scale positions after losses. By doubling trade size after stop outs, it attempts to recover losses quickly. However, this is an extremely high-risk approach that can wipe accounts during strong trends.

2. Overoptimized Parameters

The EA seems overfit to produce stellar backtests that fail to translate to live trading. For instance, default settings are hardcoded to specific assets and timeframes. Such static parameters rarely adapt well to evolving markets.

3. Insufficient Risk Controls

Despite claims of “intelligent drawdown reduction,” Autopip EA Gold takes on excessive risk relative to potential rewards. Its lack of robust hedging and risk protocols explains the huge 40%+ drawdown seen on the live account.

So in summary, while Autopip EA Gold can accumulate some profits by aggressively averaging losing trades, its flawed high-risk strategies expose investor capital to potentially catastrophic losses.

Using Autopip EA Gold

If you still wish to experiment with this expert advisor, here are some usage tips:

Run it on a demo account first to gauge performance
Start with small position sizes of 0.01 lots
Use an ECN broker with fast execution and tight spreads
Customize risk settings to suit your risk tolerance
Monitor trades regularly and intervene when equity drawdown exceeds 20%

However, given its significant flaws, most traders would be better served by more reliable automated systems or manual discretionary trading.

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Pricing and Purchase Options

Autopip EA Gold is sold directly on the MetaQuotes Marketplace and available under two payment options:

1. One Time Fee: $100

This allows full ownership and unlimited usage of the EA for one MetaTrader license.

2. Monthly Rental: $30/month

For short-term access without a long-term commitment. However, rented copies cannot be transferred across devices.

Besides the base EA, supplemental tools like Autopip EA Silver carry additional fees starting from $50 per license.

Considering the risks involved, paying $100 for permanent access to Autopip EA Gold seems reasonable. Just ensure you thoroughly test it before using on a live account.

The Verdict? Proceed With Caution

In conclusion, while Autopip EA Gold can accumulate some profits thanks to aggressive averaging of losing trades, its overall approach is extremely high risk. Key points:

Pros

Decent profitability in normal market conditions
Regular updates from active developer

Cons

Excessive risk from martingale money management
Overoptimized backtests don’t match live results
Vulnerable to margin calls from severe drawdowns

So I only recommend this expert advisor if you have strong risk management skills and can monitor it closely. Otherwise, safer automated systems exist for long-term hands-off trading.

Give Autopip EA Gold a try if you wish after extensive demo testing. But adjust position sizes down and use tight stop losses to limit its inherent risks. As with any EA, proceed with realistic expectations rather than blindly trusting promotional claims or backtests.