- 27 May 2021, 14:40
#459
Sorry for the delay in responses. I had lots of RL issues going on. The EA seems to consistently earn money, but the drawdown is getting unaffordable.
I started on May 3rd with $8377.84 (on a demo account)
For the first week or two, it was doing well. Week 1 averaged about $17 per day, with an average drawdown of 1%
Week 2, earned slightly more at $39.00 per day, except the drawdown doubled to 2.2%
At the end of week two, the EA entered into a few Gold/USD sales. If you follow the United States economy, You'd know that you can't pay out trillions of dollars, then tax a nation into prosperity, and I guess the EA didn't know that. It entered the sales as the USD value dropped making gold more valuable and eating away what profit it had made.
Week 3, my drawdown jumped to 25% and anything I had made was being eaten by the drawdown, My equity was now less than my starting balance. This week, I'd be surprised if I don't get a Margin call. I think that if I were not trading XAUUSD, it might be okay as most of the world's economies are struggling with COVID debt. I might open a new demo at 10k and try this EA without XAUUSD, even though the EA boasts that it can handle the currency. I might just move to a different one because I really don't like the way it's set up. A stop loss should have occurred long before this point on the XAUUSD. IDK... I'll see what else is out there.
I'm going to call this EA a lost cause.