Gold Bull Pro EA – In-Depth Review and Performance Analysis
The Gold Bull Pro EA is an automated trading robot for the MetaTrader 4 platform that specializes in trading gold (XAUUSD). It was created by a team of professional traders and programmers and promises over 60% monthly returns through its advanced algorithms. In this comprehensive review, we will analyze its features, performance statistics, pros and cons to determine if it delivers on its promises.
Overview and Features
Gold Bull Pro is marketed as an “innovative FX Expert Advisor” that automates gold trading through pre-programmed algorithms. It uses no dangerous methods like martingale or grid trading but rather an intelligent breakout system with integrated money management.
Some key features include:
- Fully automated trading, only requires setting parameters once
- Trades 3 major currency pairs: EURUSD, GBPUSD, USDJPY
- Specializes in gold trading, optimized algorithms for XAUUSD
- Uses stop loss on every trade to control risk
- Integrated money management system
- No martingale, arbitrage or other risky strategies
- 65%+ claimed success rate from live trading
The EA is easy to set up and use even for beginners, with the ability to adjust inputs like trade size and risk management. It is compatible with all Metatrader brokers and account types, though ECN accounts with low spreads are recommended.
Performance Statistics and Backtests
Extensive backtesting from 2010-2015 is provided on the Gold Bull Pro website showing consistent profits on all pairs. The average trades exceed 3000 with a max 8% drawdown across EURUSD, GBPUSD and USDJPY.
Live performance tracking on Myfxbook reveals a 600%+ gain in 2 months of trading with low 12% drawdown. It executes an average of 10 trades per day using a short-term scalping strategy targeting small quick profits.
Independent backtests also demonstrate steady profits across different time periods with sub-20% drawdowns, verifying the viability of its trading strategy. However, live results can still vary with different market conditions.
Table 1. Summary of Reported Gold Bull Pro Performance
|Total backtest trades
|Average backtest gain
|Max backtest drawdown
|Live gain in 2 months
|Live drawdown in 2 months
|Independent backtest gain
|Independent backtest drawdown
These statistics indicate good performance if sustainable, though guarantees of continued profitability are still impossible for any EA. Past results do not guarantee future performance.
Pros of Gold Bull Pro EA
- Specialized for gold trading, optimized for XAUUSD
- 65%+ claimed accuracy from live trading
- Low drawdowns in both backtests and live
- Integrated money management for risk control
- Easy to set up and use for all traders
- Good for newbies yet flexible for experienced
Cons of Gold Bull Pro EA
- Still new to market, long-term reliability unknown
- Requires ECN account for best spreads
- High frequency trading increases spread costs
- Live results not independently verified
- Requires monitoring like any automated system
So in summary, Gold Bull Pro is an intriguing new automated trading system with stellar reported results so far. However its long-term sustainability is still unproven. Traders who try it should use proper risk management and monitor performance closely, as with any EA. But its features and backtest results also give reason for optimism about its profit potential.
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Conclusion and Recommendation
The Gold Bull Pro EA shows promise as an automated gold trading solution for disciplined traders. Though still new, its backtests and early live gains provide reason to be optimistic. We recommend trying the EA in a demo account first and ensuring favorable conditions like an ECN broker account with tight spreads. Use stop losses on all positions and appropriate trade sizing based on account size.
If live results remain consistently profitable after an initial trial period, then the Gold Bull Pro EA could prove to be a viable automated trading system for gold and major forex pairs. However traders should employ good risk management principles and monitor it closely. No EA can replace human oversight and discretion. Within these parameters, Gold Bull Pro provides an accessible option for traders to leverage algorithms for automated profits.