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Forex Gold Trader 3.0 | FGT Review
So far we are very pleased with the performance of this system and so are the users that are testing it with us. We have to say it is a very unique idea and one that has worked out well for Forex Gold Trader.
Who would have thought incorporating forex and the gold market would be so seamless and work so well!
Again, I have to say, the forex gold trader 3.0 is really making a good case to be in our top robots selection. There are ratings and reviews on many great review websites, and the testimonials for this forex system have been excellent.
Lets take a look at some of the results people are having with the forex gold trader below:
This verified myfxbook account shows that the forex gold trader has really been doing a tremendous job for all of its clients since May. Yes these results actually go all the way back to May, and quite a few trades have been made during this period.
With the forex gold trader the profit since late last May has been nearly 170%, it could even be up since the last time we updated this review. Seems to make 1-5 trades per day and consistent with winnings.
We really like what forex gold trader has to offer, there is only one red flag, this is that in myfxbook the open trades are kept private. So we are unsure of what type of ongoing drawdown is being held, if any.
That being said we have not had this issue with the forex gold trader 3.0 and will continue to use it on our accounts here at forex robot nation.
If you have any comments, questions or concerns please leave them below under this forex gold trader review and feel free to check back from time to time for our updates on using this software.
I am very satisfied with this ea.
I do not use stop loss but have a big account penny account. I am using the default settings, lotsize 1% and making good profit. The only this is that if you do have a take profit of 600 pips it must go down 1200 pips before a buy stop is opened and not 600 as expected.
Reinier
For me this one is a winner, +20% in 2 weeks with normal settings, it trades exactly the way it has with gold.I haven’t try with silver, waiting for my balance to be bigger.
Thanks for the comments DP.
I just love this EA – it is definetly and “acquired taste” – it does NOT work or function like other EA’s because it is based on a commodity. It is NOT meant to be be the only EA you run and make you rich in a month. It is one you put on 0.01 or 0.02 lots and let it run and forget about it. You can manually set your SL’s if you feel the need. We are talking about gold here, not the USD, GBP or EURO.
In regards, to Steam, I got very frustrated with it so far this year and have turned it off my live account. Dec, Jan and most of Feb saw more SL than it could make up……Not sure why. I hear an upgrade or revision may be out soon – will hold off going live till then.
DP – I’ve just purchased this but am now extremely wary after reading the above comments! I’m demo trading anyway and will ask for a refund if necessary. On the subject of Jen’s trading statement, if you right click on a closed trade in account history you can save a detailed report? You mentioned you’re using Forex Steam also. Have you found a SL that works consistently? I’ve been having three or four winners and then a loss which is not building my account. I’m using 30 pips SL.
Thanks, Andrew
DP,
i’d like to know which setting you are applying, there’s very safe, to risky, what kind are you using please?
Thanks
One more thing, if you need a copy of your trading record for FXDD try this instead. Set up a viewing page for your account where FGT is at on MT4Stats.com. Set the dates to show what you want. then go to the URL and you have a screen shot to send them or you have a URL you have them to go to see for themselves that is unquestionable. We have done that before and gotten a refund.
Going from 5000 down to 54 is not good, but during the same drop, I only fell 15%. Your risk was set way too high. Like we said, this should not be your primary EA and you should NOT have the same expectations as other EAs. You should only run 0.01 lots and let it open 5- 10 trades as gold rises. Letting it only open 1-2 trades is a waste of time and you will not make anything on it. One person on another forum makes 10-15% per month and always has 15-20 trades open. remember it only sets buys stops on the way down (not actual buys). You can cancel them if you do not like them. They only get executed when gold goes back up. With the recent volotility in gold, I have never had more than 1-2 open in the past week. While getting in on Dec 13 was bad timing. I got in around mid-Novmeber. For the FGT portion of my account, I am now up about 15% and have entirely made up the big drop in gold – for now it is all the way back up to $1365, it opened buys all the way back up from $1350. WIth the big drop, I only had two open buys at the time that got stopped out. Setting the risk correctly is key on this one and realizing that it is not the same others is the other. Sorry, it did not work out for you, but it has worked above average for me.
I have been runnign with this one for about a month – the drawdown has been excessively high and it takes out many trades at one. when i reduced the trades to only takeout one it held onto a negative trade for weeks.. weeks with a drawdown of over $300 to gain $6??? I put in for a refund and the sellers told me to send them a copy of my records… fxdd do not download so i am unable to do that presently and unable to get a refund..in the mean time my demo account gets smaller and smaller!! I am not imropessed at all…I think this is a system when it works it works grand when it doesnt – you feel it HARD. Trades presently do not seem to suggest this is the right time for trading? – from what i have seen on demo. After about 4-5 weeks i might have got 3 lots of $6 and had a running drawdown of over $400 ?? Money management gone crazy – I htink it was higher than that but i;ll stick at that to be conservative. To make matters worse – this is a product sold via plimlus so refunds arent easy to get – they do not look after the customer like citibank – so good luck people… personally – I wish i hadnt gone down this EA road .. and will think twice if I see Pimlus on any listings in future – a waste of my money and time although i will continue to fight for my refund.
Hello,
I got very bad experience on FGT I start trading Dec 13 2010 with £5000 starting capital with alpariUK. After 1 month of trading my balance goes up to £6,700 but when the gold goes to 1310 all my money lost. My balance now is £54 only.
Thanks,
Nobleto
Thanks for the heads up drake.
We have been using FGT2.0 since it came out and are running live with it. It takes some getting used as it only opens buy orders, never any sell orders and some buy orders can stay open for weeks or months. We had a more thorough review at Network Trader dot com, but will elaborate some here on what we found. For about 4 weeks, we never saw a loss, even with gold going down as it did in mid-January. As gold falls, instead of setting buys on the way down, it set buy stops every $6 on the way down. So when gold bounces back (and it always has), it catches the buy stops on the way up, executes them and makes good $$$ for you. With the $70 point fall, we eventually took two SL’s. However, it readjusted, set some more Buy stops and we hit TP 4 times in one day last week when gold jumped back up about $30. Even with gold down over $50 from where we started, we are ahead on the account.
We only run this with 0.01 lot which equates to $1/ounce. Keep in mind you could have 10 trades open at once if you let it…..Not a bad thing, just takes some getting used to. This is one that you run in the background with something else. We run it on an account at FXDD with Forex Steam and the two do very nicely together.