Maximizing Your Profits: How to Determine if the 'AI for Gold' Expert Advisor is the Right Fit for Your Trading Account

Maximizing Your Profits: How to Determine if the 'AI for Gold' Expert Advisor is the Right Fit for Your Trading Account

28 April 2023, 07:49
Eugen Funk
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Dear Valued Reader,

I want to take a moment to express my sincere gratitude for your interest in our "AI for Gold" expert advisor. It is through your continued support and enthusiasm that we are able to bring innovative and reliable solutions to the world of trading.

Our expert advisor is truly one-of-a-kind, offering both unparalleled reliability and profitability. We have dedicated countless hours to perfecting and improving this powerful tool, ensuring that it is optimized to work seamlessly with as many different brokers as possible.

With this in mind, I am pleased to share with you this document, which is designed to help you determine if our expert advisor is the right fit for your trading needs. By following the guidelines outlined in this document, you can assess whether the EA will make profits on your account, just as we expect it to.

Once again, I want to thank you for your interest in our "AI for Gold" expert advisor. We are confident that this innovative tool will help you achieve your trading goals and we look forward to continuing to work with you in the future.


Setup

Get the EA first: https://www.mql5.com/en/market/product/97071

Then, let's start with the setup test. Find the EA file in the Market list:


Then right click on the "AI for Gold EA" and select "Test".




- You can use XAUUSD or Gold as a symbol only,

- Time Frame: 15 Minutes

- Tester with "visualization" enabled

The panel might look like this:


After you click on "Start" the backtest chart will appear and you will see the EA panel indicating if you set all your settings in a correct way.


Checks - How to know that everything works fine?

1. The panel should display "All settings are fine".

2. The logs under the "Experts" tab should look like this:


Log analysis

You can enable the options "Write logs to a file" and "Print Debug Messages"  so the EA will write all the logs into a

AI_FOR_GOLD.log file in your directory MQL5/Files

In case something is strange, you can send the log file to me and I will be able to tell you exactly if everything is fine.

Here is an example for the inputs




Performance

In order to verify the performance of the EA on your account, you can exit the visualization chart (File -> Close).

In the Tester Settings you will need to disable the visualization now so the  backtest speed increases.

Now let's set the start date to "2022.01.01" and end date to "2023.01.02".

Then click on "Start" again and watch the equity curve grow.

It will not be exactly the same but it should be very similar.

Here are two examples for the time range between 2022.01.02 - 2023.01.02 on ICMarkets and XMGlobal:

ICMarkets


XMGlobal

Different brokers have different market makers and thus the dynamics of the price differ. In some cases is a 15m candle green on ICMarkets and red on XMGlobal. The more a broker diverges from ICMarkets, the more work will the integrated risk management have. Eventually this will reduce the success of the EA.

Here you can see the list of brokers, sorted by compatibility to "AI for Gold".

In case your broker is yellow or orange, please run the backtest to find out how it performs with the EA. 


Live Trading

In order to run the EA on in real time, drag and drop it on the chart. Make sure, that you set the time frame to 15 minutes.

Warning: Please try not to change the parameters after you added the EA on the chart or to change the time frame there after. MT5 will partially remove and then add again the EA internally, so some settings might get lost. I invested a fair amount of time to avoid issues in this case.

Anyway, you would be safest if you simply don't change the parameters of the time frame after you added the EA to the chart.


Note on Prop-Firm Trading

If you would like to apply AI for Gold on a prop firm account, you will need to take care of two steps:

1) Make sure that the account size is 10.000 or more

2) Set the input "Multiply all lots" to 0.1. The system has been normalized to a 1000$ account and if you set 0.1 on a 10k account, you will enjoy max stability and safety.



Summary

In any case, if the EA works fine or it makes issues, I would be very glad to receive your feedback! Really, this is what helps everyone to make it better and better.

In order to make the improvement development as smooth as possible, please consider mentioning the information from the table below.

Check
 Result
Used 15 Minutes Timeframe
yes/no
Used "XAUUSD" or "Gold" as a symbol
yes/no
 The Panel shows "All settings are fine"
yes/no 
 I changed the time frame or inputs after adding the EA to the chart
yes/no 


Sincerely,

Eugen Funk