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Gold Miner Review: Things to Consider Before Investing

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Gold Miner

Gold Miner uses a grid strategy and works on currency pairs such as XAUUSD, GBPUSD, USDCAD, EURUSD, USDJPY, USDCHF, AUDUSD, NZDUSD, etc. It also allows using hedging techniques. Both MT4  and MT5 versions of the product were launched in December 2020.

The author is NGUYEN NGHIEM DUY and has experience of 1 year in the trading market. The developer has 70 products available, 11 signals, and 4 subscribers on his portfolio. The vendor provides no information on the foundation year and where they reside.

We will give feedback to our expert advisor and shed some light on its characteristics and working mechanism. Multiple settings present within the bot’s code can be configured according to the traders’ liking.

Features

The key elements of the robot are:

  • It uses grid strategy.
  • It comes with both renting and purchasing options.
  • The robot trades in multiple currency pairs.
  • Parameters like timeframe, initial lot, max order, etc. are available on the website.

How does it work?

Use the following steps to get the system ready:

  1. Get to the MQL5 platform and buy the plan
  2. Obtain the algorithm files on your computer by clicking on the download
  3. After installing the EA files, go to the Meta Trader platform (MT4) and position the robot in the expert’s section
  4. Drag the robot onto the chart section
  5. Turn on auto-trading.

Trading strategies and currency pairs

The robot looks for the area where short-term trends are usually generated. As stated by the developer, the algorithm performs better when combined with buy-sell signals. It trades on volatile currency pairs such as XAUUSD, GBPUSD, USDCAD, EURUSD, USDJPY, USDCHF, AUDUSD, and NZDUSD.

From the history on Myfxbook, we can observe that it implements an averaging strategy with a day trading approach. The trades do not come with a fixed stop loss or take profit.

Trading history of Gold Miner

Trading history of Gold Miner

Gold Miner trading statistics

The EA live records are available from December 2020 to February 2021. A total of 74 traders were made with a profitability of 62% and a loss rate of 38%. The initial deposit was $833.17, and the withdrawal was $763.25. From Myfxbook records, the gain percentage was -13.72%, with a monthly gain percentage of -6.62. The best trade was $36.02, while the worst was$25.97.

Trading records of Gold Miner on Myfxbook

Trading records of Gold Miner on Myfxbook

Pricing and refund

The robot can be purchased via the MQL5.com website or directly from MetaTrader 4 or 5 platform. The EA has the option of both renting and purchasing. The renting package comes with 1-month validity for $30, whereas users can buy the algorithm for $49. There is no information available regarding a refund on their website.

Pricing of the Gold Miner

Pricing of the Gold Miner

What else you should know about Gold Miner

We could not find any reviews on platforms like Trustpilot and Forex Peace Army for Gold Miner. The developer is not fully transparent on its strategy and does not provide any link to live records.

Gold Miner Conclusion

3.8

The EA has no backtesting records, and there are no reviews on platforms like Trustpilot and Forex Peace Army. The author is unclear on his portfolio as he provides no certificate, and there is no clue of his profile on platforms like Linkedin, Facebook, etc.

  • Price - 6/10
  • Strategy - 5/10
  • Trading Results - 3/10
  • Vendor Transparency - 3/10
  • Customer Reviews - 2/10
  • Support - 4/10

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