EA Golden Elephant MT4 – super profit in a short time
EA Golden Elephant with an aggressive trading algorithm is designed to rid this world of poverty once and for all. But seriously, with proper use, it is really capable of being highly profitable – over 100% profit per month on one pair. As you might guess from the name, the robot will be of interest primarily to supporters of the Gold (XAUUSD).
Сharacteristics of the EA Golden Elephant
Platform: Metatrader4
EA version: 8.0
Currency pairs: Gold (XAUUSD)
Trading Time: Around the clock
Timeframe: M5, M15
Minimum deposit: 1000$ (per trading pair)
Trading algorithm
According to the author, the EA’s trading algorithm effectively detects trend reversals on the XAUUSD pair, filters out various market noise, and accurately generates market entry points.
Aggressive trading of the EA and the use of a grid of orders with averaging makes it a highly profitable trading tool, but, as you know, this is directly associated with a high risk of losing all funds.
This short video clearly shows how the EA works in testing mode:
It can be seen from the video that if the trend does not coincide with the direction of the open position, the EA opens a grid of 4 orders (can be changed in the settings) with an increased lot without stop loss. It is clear that this method of trading is very dangerous, and if the price does not return to its original level, the adviser will lose the entire deposit.On MyFXBook you can find several monitorings of this EA, but all of them are less than a year long:
EA Golden Elephant DemoEA Golden Elephant MT4 – super profit in a short time
EA Golden Elephant SN 100 USDEA Golden Elephant MT4 – super profit in a short time
EA Golden Elephant SN 200 USDEA Golden Elephant MT4 – super profit in a short time
Of course, it is difficult to imagine the work of the EA Golden Elephant in the long term based on these short-term monitoring. But, I would not be engaged in reinvestment, but would monthly withdraw the profit earned by the robot.
Backtests
Despite the author’s assertions that the EA cannot be backtested due to the complex algorithm of actions for calculating volumes, I still performed backtests. This makes it possible to realistically assess the risks despite the “volume calculation algorithm”.
The author offers two EA settings files for aggressive and conservative trading (Aggressive M5 XAUUSD new.set and Conservative M5 XAUUSD new.set). But with these parameters and a recommended deposit of 1000 USD, the EA does not even pass one month in the strategy tester:
Aggressive M5 XAUUSDbacktest-ea-golden-elephant-aggressive
Conservative M5 XAUUSDbacktest-ea-golden-elephant-conservative
EA Golden Elephant successfully passes 4 months of testing only with the settings contained in the file Golden_Elephant_XAUUSD_M5 – recommended.set:
Secure M5 XAUUSDbacktest-golden-elephant-recommended
But even with these settings, the EA has an impressive drawdown – 62.92%, which makes it extremely unreliable. But this is not surprising, because Golden Elephant is an extremely profitable Expert Advisor, which is necessarily associated with high risk. Therefore, before using this robot on a real account, be sure to test its work on a demo for several weeks to a month.
Please note that backtests are performed with a modeling quality of 99.0% thanks to a wonderful software called Tick Data Suite. Today this is the only possible and fastest way to achieve 99% quality of modeling in MT4.
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The trading algorithm for this EA should be as follows:
First of all – a test period on a demo account of about 1 month
Live trading with Golden_Elephant_XAUUSD_M5 – recommended.set and initial deposit of 1000 units or more. In no case do not invest money if you are not ready to lose it – the EA can lose it.
Withdraw profit every month, leaving 1000 units of currency on your balance to protect yourself from the possible loss of all money. Do not reinvest earned money in one trading account.
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