The Magic Wand gold trading robot
The magic wand is a whole series of EAs specifically designed to trade Gold (or Silver), although they can also trade EURUSD or AUDUSD using slightly different input parameters.
The magic wand EA works on the 15minute chart, and also up to the hourly chart. using the defaults parameters for now. Further updates and strategies will follow.
WARNING: Always check the US calendar! - Do not trade on the days leading up to 3 day weekneds, and on the days leading up to Christmas/Easter holidays, such as from mid December onwards. All our EAs and even the best EAs out there do not work during such times, because trading volume is too small, and markets tend to trade in nonsensical ways! By Following this simple tip, you can outperfom the curves you will see on the strategy tester and avoid losing weeks. Since the biggest losing days are caused by such false trend moves, during such days. This will result in more stable curve, and much more profit.
Please note that in our test platform, lot size must be no greater than 0.5, or the EA will not trade, this may be because of the risk management function or other reasons. If you set it at greater lot size, and the EA won't trade, even though it trades on the strategy tester, try starting out with smaller lot size, possibly from 0.1 lot and then moving higher if you so wish.
In gold, each cent movement in price is a pip, so if gold price moves by $1 on tha chart, that is 100pips, if you use a stop loss of 5 dollars, that is a stop loss of 500 pips.
Under the default inputs this EA can make few $100 per month, even at 0.1 lot size. And few thousand, if lot size is set to 0.5.
A more detailed presentation will follow.