Honest Gold MT5

Overview of Honest Gold MT5

• Type: Automated trading system for gold
• Platform: MetaTrader 5 (MT5)
• Price: Starts at $850 for early buyers
• Working Pair: XAUUSD (Gold)
• Recommended Timeframe: H1 (Hourly)
• Minimum Recommended Deposit: $500
• Rating: 3.0 out of 5

Key Features

• Utilizes an author's indicator to filter market noise and generate trading signals.
• Modified version of the standard EA Candle Banker, optimized for real account trading.
• Employs a Fibonacci-based take profit and stop loss strategy, ensuring accurate profit determination.
• Equipped with protection against requotes and slippage.
• Includes features like a smart stop loss and independent trailing stop mechanisms.

Trading Logic

• Opens positions in the direction of price movement after pending orders trigger.
• Automatically deletes other pending orders once a successful trade is executed.
• Emphasizes long-term consistency by avoiding common pitfalls associated with martingale systems.
• Designed to exploit movement in the price of gold, thus appealing to traders with a penchant for this precious metal. 💰

Development and Support

• The author promotes an exclusive batch release, limiting copies to 21.
• Buyers gain access to a VIP community on Telegram providing 24/7 support.
• Feedback from users indicates issues with support response times, with many waiting over 24 hours for replies.
• Concerns raised regarding inconsistent performance between MT4 and MT5 versions, with trades in opposite directions noted. ⚠️

User Reviews and Community Feedback

• Mixed reviews highlight both successful trading experiences and frustrations with the system.
• Some users report significant profits with varied settings; others criticize the system's sustainability.
• A notable review describes the EA as "simply a martingale system" suggesting it may not be reliable long-term.
• User communities provide both encouragement and warnings, emphasizing the importance of thorough testing before implementation. 🧐