SG Forex EA

Specifically built for trading gold (XAUUSD), this SG EA is a fully automated Gold Forex EA. This article delves into the nuances of this EA, looking at its strategies, workings, and possible advantages and disadvantages.

Specialized trading robots like the SG Forex EA are made to profit from flat markets, which occurs 80–90% of the time. Due to its specificity, its performance may differ in times of extreme market volatility. Specifically designed to trade the XAUUSD pair, or gold, this swing expert advisor is ideal for swing trading. Its primary tactic is swing trading, which aims to profit from moves in a stock (or in this case, gold) over the course of a few days or even weeks.

How is the Gold Forex EA Operated?

Fundamentally, the Gold Forex EA uses a trend scalping approach. This indicates that its goal is to profit from slight fluctuations in price, usually following the execution of a trade that turns a profit. Its signal for starting trades is a proprietary indicator. This is the streamlined procedure:

First Trade: Upon receiving a signal from the indicator, the EA places its first order. Where the trade is anticipated to close at a profit is known as the Take Profit (TP) level.
Averaging Down: The EA does not close the trade at a loss if the price reverses and misses the TP. Rather, it opens another order, bringing the total TP level closer to the current price by averaging it.
Risk management: Placing more orders may result in a drawdown, which could cause the account balance to drop until the trade closes at a profit.
Integration of Manual Trading: This Swing EA’s trading panel, which enables traders to manually open orders, is an intriguing feature. As part of its trading series, the EA then oversees these manually opened orders with the goal of achieving a collective TP.

Possible Advantages and Disadvantages

The Gold Forex EA’s automation and use of strategic averaging to reduce losses are its main advantages. Its capacity to incorporate manual trades into its system gives the user additional flexibility and control while skillfully combining automated and manual trading techniques.

The tactic of placing extra orders to average the TP level, however, may result in losses, especially in a market with significant volatility. To make sure that possible drawdowns do not drastically reduce the trading capital, this calls for close risk management and oversight.

Recommendations

A minimum account balance of 2000 dollars, or an account worth one cent.
Made specifically to operate on XAUUSD is EA. Work with any pair of currencies.
On M15, it functions best. (Do any TimeFrame work.)
Because News Filter cannot be backtested, the results of backtesting are erroneous. To reduce drawdown, the News Filter eliminates bad trades.
This free forex EA should be run 24/5 on a VPS (Reliable and Trusted FOREX VPS – FXVM).
low spread ECN account is also advised (Find the Perfect Broker For You Here)