GoldEagle

Overview of the Scalp Strategy

The GoldEagle Forex software is an expert advisor (EA) that is primarily optimized for the XAUUSD (GOLD) pair. This software adopts a scalping strategy, perfect for a trending market, which is typically the case 50-90% of the time in the Forex market. GoldEagle leverages an inbuilt indicator and a finely-tuned AI system for its signal inputs.

The EA opens the first order at the signal of these indicators and sets profit at a pre-determined level. The EA does not implement the martingale strategy. Instead, it opens one trade at a time and uses tight stop losses to manage the account effectively.

Unique DrawDown Reduce Function

GoldEagle Forex software comes with a unique function known as the DrawDown Reduce. This function ensures that a series of trade always closes at a profit. It does this by closing both the most unprofitable and the most profitable orders in the series at a common profit point.

Trades opened by the trader are automatically managed by the EA and closed with a profit thanks to the DrawDown Reduce function. This function ensures the most unprofitable and the most profitable orders in the series are closed simultaneously, reducing the drawdown on the account.

Advantages of GoldEagle

The GoldEagle software offers several advantages for traders. For a start, it can work in consonance with other EAs and trading systems. The EA allows the trader to open trades manually, and it manages all trades, opened through the trading EA, and closes them with profit automatically.

Setting Up GoldEagle

Setting up the GoldEagle is straightforward. Traders need to add the EA to the XAUUSD H4 chart and activate the auto-trading function in both the Expert Advisor and the MetaTrader terminal. It’s recommended to ensure a stable VPS and internet connection. The use of low spread brokers is also advised. The minimal amount deposit is $1000 for 0.1 or cents (for cent accounts) or $5000 for 1 lot or $100 USD for 0.01.

Testing GoldEagle

Before testing GoldEagle, traders must ensure that there is a quote history for the XAUUSD symbol. As the EA trades at every tick price, it’s necessary to use the every tick value. The EA also comes with a Higher Time Frame filter to filter strong trend price fluctuations. It allows new trades to be opened only if the signal of the current period coincides with the trend of the older period.

FAQ

What is the recommended leverage for GoldEagle?
The recommended leverage is from 1:500 and more.

What is the DrawDown Reduce function?
The DrawDown Reduce function is a feature of GoldEagle that automatically closes the most unprofitable and the most profitable orders in the series, reducing the drawdown on the account.

Can I test the GoldEagle EA?
Yes, you can test the GoldEagle EA. However, ensure that there is a quote history for the XAUUSD symbol and use the every tick value since the EA trades at every tick price.

For further independent testing of GoldEagle, visit forexroboteasy.com. You can also subscribe to updates on the results of testing this product on the website.

We invite readers to share their experiences of using the GoldEagle Forex software. Remember, this is an independent product review written from a neutral perspective.