Promax Gold EA – with Smart News Filter

What is Promax Gold EA ?

Promax Gold EA: Proud to announce the first fully automatic Gold trading robot with smart news filter which allows this EA to analyze both technical and fundamental news.

Features

FE – Promax Gold EA – with Smart News Filter – $198

1. Can analyse technical and fundamental news
2. 20% to 48% Monthly profit
3. Fully Automatic – Hands free trading
4. Auto money management and lot selecting
5. Only for XAUUSD pair on Metatrader4
6. Best setting is given as default
7. Full set up guide
8. 1 Demo 1 Live account
9. Open and Close trade in profit automatically
10. One time payment with Free updates

Strategy

• As the name rightly suggests, this automated trading software uses a gold trading strategy. It has implemented settings which are programmed to analyse the market, fundamental news and collect all the market information to place the trade. The software uses a grid trading system so it can open trades when there is a loss to try and recover.
• In a grid trading strategy, buy stop entry orders are placed above the current market price. These orders will automatically enter you into a long position if a bullish breakout occurs. Sell stop entry orders are then placed below the current market price to trigger a short position in the event of a bearish breakout. Grid strategies can be used in both trending and choppy markets, but they are usually considered to be more effective in the former.
• There is a big problem with grid trading systems. If price continues to move in one direction and there are multiple positions opened against it, things can get messy. This can cause huge drawdowns and even a margin call or blown trading account. It is therefore extremely important that anyone considering this expert advisor has a clear understanding of how grid trading works and the significant risks involved.
• You will need MT4 up and running on your laptop or computer in order for the strategy to analyse the XAU/USD chart. If you cannot always have the MT4 terminal open on your machine, you may consider a virtual private server (VPS) which can remotely run MT4 24/7 around the clock without you needing your computer switched on.

The best Features

The Promax Gold EA has some unique features including the following:

• Smart News Filter

The Promax Gold expert advisor has a built-in smart news filter which enables the robot to analyse both technical and fundamental news releases. It is important to be aware of economic news releases regardless if you are trading manually or with an automated robot. The reason being is that news releases can have an impact on market volatility.

Auto Capital Management

• The EA uses an automatic money management feature where you can set it to trade using fixed lots or a fixed risk percentage. If you opt for the risk option, the software can automatically calculate the lot size according to the risk percentage that you choose. When using fixed risk, the lot size will decrease if the account goes lower and increase if it increases in value, commonly known as compounding.

Optimised Settings

• The Promax Gold EA developers provide default settings based on the optimisations they have done on the software. You will need to adjust the lot and risk size to a level that you feel comfortable with and as with any trading robot, you are free to experiment with the input settings if you wish. Just make sure that you do on a demo trading account to begin with.