SpaceX Gold Pro EA Review: A Detailed Analysis of This Automated Trading System
SpaceX Gold Pro EA is an automated trading system that promises high returns with low drawdowns by using advanced algorithms. In this comprehensive review, we will analyze the features, performance statistics, pros and cons, and legitimacy of this expert advisor (EA) to determine if it delivers on its promises.
Overview of SpaceX Gold Pro EA
SpaceX Gold Pro EA is developed by Galaxy Profit, a company that specializes in creating automated trading systems for the MetaTrader 4 and 5 platforms.
Key Features
- Uses advanced algorithms and no martingale or grid strategies
- Maximum 2% historical drawdown in backtests
- Monthly profit potential between 15% and 40%
- Automatic take profit and stop loss levels
- Suitable for all brokers and account types
On their website, Galaxy Profit claims that SpaceX Gold Pro EA is the “safest EA in the world” and even offers a 99 year guarantee that the maximum drawdown will stay below 2%. These are bold claims that need scrutiny.
The developers state that the EA is specifically designed to pass prop firm challenges like those from FTMO, SurgeTrader, TopstepTrader etc. It supposedly uses intelligent algorithms to maximize profitability while minimizing risk and drawdown.
Performance Statistics and Backtest Results
According to the vendor, SpaceX Gold Pro EA was backtested from 2010 to 2022 across multiple currency pairs. The results showed an average monthly profit between 15% and 40% with a maximum historical drawdown of 2%.
These backtest results are impressive on paper but lack important details that can validate them:
- No screenshots of full backtest reports: Only a chart showing equity curve but no detailed statistics about number of trades, win rate, risk metrics etc.
- No information on backtest settings: Data like account leverage, spread, slippage, commission, and lot sizes are not provided.
- No live account results available: Without seeing how the EA performs on a real account, the backtests cannot be relied upon.
- Potential curve fitting: 12 years is a long backtest period which raises the risk of over-optimization and curve fitting.
Without proper verification, traders should take these backtest results with a grain of salt. Past performance does not guarantee future results.
Trading Strategy and Logic
The developers do not reveal the exact trading strategy and logic behind SpaceX Gold Pro EA. They only state that it does not use grid or martingale techniques and instead relies on proprietary algorithms.
By analyzing the behavior of the EA, we can deduce the following about its trading strategy:
- It appears to use a trend following approach and opens positions in the direction of the overall trend.
- The entries seem to be based on breakouts of support and resistance levels identified through technical analysis.
- It likely uses trailing stops that automatically follow the price action and lock in profits during trends.
- The take profit and stop loss levels seem static and are not dynamically adjusted for each trade.
Without insight into the code and algorithms, it is impossible to fully understand the strategy logic and whether it is truly innovative or just a rehash of common technical analysis techniques. Lack of transparency is a red flag when assessing the legitimacy of an EA.
Pros of SpaceX Gold Pro EA
Low Historical Drawdown
The main advantage highlighted by the vendor is the low historical drawdown of just 2% in 12 years of backtests. This is an impressive achievement if true, but backtests cannot be fully relied on.
Automated Trading & Hands-free Approach
The EA trades automatically by placing orders, managing risks, and closing trades without any manual intervention. This allows a hands-off approach for traders.
Potential for Passive Income
If the stated profits of 15-40% per month can be consistently achieved, SpaceX Gold Pro EA could generate a healthy passive income stream. But the absence of live results raises doubts.
Customizable Settings
The EA allows users to tweak some basic settings like lot sizes and risk percentages. This allows some flexibility to adjust it for individual trading accounts.
Good for Beginners
The automated nature and ease of use of SpaceX Gold Pro EA makes it suitable for beginners who lack trading experience and skills.
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Cons of SpaceX Gold Pro EA
No Verified Live Results
The biggest concern is that SpaceX Gold Pro EA does not have any publicly available results from a live trading account. Without this proof, the promised profitability cannot be trusted.
Potential for Overoptimization
With a 12 year backtest period, the EA seems heavily optimized for past market conditions. This leads to curve fitting and potential breakdown when markets change.
Lack of Transparency
The developers do not reveal any concrete details about their algorithms, strategy logic, or development process. Lack of transparency increases the risk.
Markets Have Evolved
The markets in 2022 are very different from 2010. An EA optimized for past market conditions is unlikely to be profitable in current trading environments.
Hidden Costs
To run the EA 24X7, traders need to rent a VPS service which adds to the recurring costs. The EA license itself is also expensive.
No Trial Before Purchase
The company does not offer any free trial, money back guarantee, or refund policy. Traders have to purchase it blindly without testing it first.
Potential Over-reliance
Fully automated EAs can lead to complacency and over-reliance. Traders still need to actively monitor and manage trades.
Verdict on SpaceX Gold Pro EA
SpaceX Gold Pro EA makes big promises of high profits with low risk based on backtest results, but lacks transparency about its algorithms and live trading track record. The lack of verifiable results makes it difficult to recommend this EA blindly.
The backtests may have been overfitted and the markets have evolved considerably over 12 years, putting the viability of its strategy into question. While the technology behind SpaceX Gold Pro EA seems innovative, traders should proceed with caution given the lack of information and potential red flags.
The best advice is to paper trade the EA extensively in demo mode and verify actual results before considering investing real money. Never trust marketing claims at face value when it comes to EAs. Approach with skepticism until actual trading results validate the advertised performance over a reasonable period of time.
Conclusion
SpaceX Gold Pro EA offers some innovative features and seems technically sound based on the vendors’ marketing material. However, the lack of transparency, unverified backtests, and absence of real account results makes it a high risk EA. Proceed with caution, use proper money management, paper trade first, and do not rely solely on this EA for income generation. With the right diligence, it may have potential but needs rigorous vetting before committing capital.