Gold Dragon MT5 is a trend-based trading software specifically designed for Gold (XAUUSD) H1 trading. The software measures the strength of daily candle trends, making trades only according to the trend direction. This article provides an in-depth review of this unique forex software.
Key Features of Gold Dragon MT5
The software offers fully automated trading, making it suitable for both beginners and experienced traders. Every order placed by the software comes with a Stop Loss and Take Profit, ensuring that your trades are always protected. The software is easy to set up and install, and its functions do not overload the terminal, making it an excellent choice for low-resource Virtual Private Servers (VPS).
Gold Dragon MT5 is compatible with any type of trading accounts and complies with the FIFO rules for brokers in Canada and the USA. This makes it a versatile tool for traders worldwide.
Trading Strategy
Gold Dragon MT5 operates on a trend-based trading strategy. It waits for the right moment to make a trade, which means it may not open transactions for several days. This patient approach can provide a more objective assessment of the market trend, potentially leading to more profitable trades.
Furthermore, if a trade is closed at a loss, the softwareโs next trade can compensate for it. This compensatory mechanism reduces the risk of consecutive losses and can potentially increase overall profitability.
Optimization and Compatibility
The software has been optimized on Roboforex broker ECN since 2017, ensuring it performs optimally under various market conditions. It works best in trend areas, and it can be combined with other strategies based on a grid system of placing orders.
Gold Dragon MT5 is also compatible with brokers that have two digits after the dot (xxxx.xx). This makes it a flexible tool that can adapt to various broker specifications.
Money Management Recommendations
When using Gold Dragon MT5, it is recommended to withdraw profits as soon as the software doubles the capital. From that point onwards, the initial investment is protected, and the trader is essentially trading with profits. This strategy can help manage risk and protect the initial investment.
FAQs
What is the minimum deposit for using Gold Dragon MT5?
The minimum deposit is 3K, but a deposit of 10K dollars or cents is recommended for optimal results.
Can I test the software before purchasing it?
Yes, you can check the EA work on tick data by reverse testing on the forexroboteasy.com website. You can also subscribe to updates on the results of testing this product.
Can I share my experience using this product?
Absolutely! We invite all users to share their experiences using Gold Dragon MT5.
This review provides an independent analysis of the Gold Dragon MT5 software. It is not affiliated with the product or its developers. The softwareโs performance may vary based on individual usage and market conditions.
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