Gold Dragon AI EA: An In-Depth Review
The Gold Dragon AI EA is a forex trading Expert Advisor (EA) that specializes in trading gold (XAUUSD). It was developed by Evgenii Aksenov and utilizes artificial intelligence and a unique trading strategy designed to capitalize on gold market volatility.
Some key features of the Gold Dragon AI EA include:
- AI-powered trading strategy optimized for gold trading
- 980%+ return in less than 2 years based on backtests
- Claims no unprofitable months since live trading started in 2021
- Limited availability – only 50 copies to be sold
- Compatible with MetaTrader 4 and 5
Trading Strategy and Performance
According to the product listings and customer reviews, the Gold Dragon AI EA uses an AI-based trading strategy that aims to exploit the high volatility often seen in the gold market. This is unlike most other gold trading EAs that struggle during periods of high volatility.
The EA has been backtested since 2021 and has achieved over 900% in profits during that period with no losing months. If true, this performance is very impressive for a forex trading system.
However, there is limited information disclosed on the exact strategy, parameters, and performance metrics like drawdowns and risk metrics. More transparency on the trading strategy and historical performance would be needed to fully validate the EA’s capabilities.
Live trading results are available through a MQL5 signal and a MyFXBook account provided by the developer. While the returns look promising, there is only 1 year of live trading history available.
The EA would need to prove itself profitable over a longer period of time and across different market conditions to substantiate its performance claims. Ongoing monitoring of live results will be crucial.
Gold Dragon AI EA Usage and Parameters
The Gold Dragon AI EA is compatible with both MetaTrader 4 and MetaTrader 5. It trades on the XAUUSD symbol on the 15 minute timeframe by default.
The EA uses pending orders for entries and has take profit and stop loss levels on all trades. Usage is fully automated once configured – no ongoing manual intervention is required.
Available parameters include take profit, stop loss, max spread, and magic number settings. The simplicity of the input settings makes the EA easy to install and use.
Minimum capital requirements are unclear. The developer recommends a minimum account balance of $500-$1000 but notes higher balances are less risky. More guidance is needed on position sizing and risk management to use the EA safely.
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Availability and Cost
The Gold Dragon AI EA is being marketed as a limited edition product, with only 50 copies to be sold according to the sales page. This scarcity tactic aims to spur urgency among potential buyers.
At the time of writing, the listed price is $650 USD for the first 3 buyers, rising to $999 USD afterward. The final price will supposedly be $5000 once the limited inventory sells out.
The constantly increasing price structure and capped availability suggests the developer is prioritizing exclusivity and profit margins over making the product affordable and accessible for the wider trading community.
Gold Dragon AI EA Verdict
The Gold Dragon AI EA shows promise with its focus on trading gold volatility and use of AI technology. Reported backtest and live trading results are also very impressive at first glance.
However, there are still many unanswered questions regarding the underlying strategy logic, position sizing rules, risk management protocols, and real-world performance over an extended period of time. More transparency and longer track records would help validate the accuracy of the stated performance metrics.
The limited availability marketing tactic and escalating price structure seem more aimed at maximizing profit than serving customers. As such, traders should be wary of taking the advertised performance statistics at face value without further proof.
Overall the EA may warrant further investigation, but traders are advised to apply skepticism when assessing the claimed capabilities until more supporting evidence is provided by the developer. Use of caution is encouraged if proceeding with a purchase.