FXProSystems
Back

EA Golden Elephant MT4 - super profit in a short time

Published: 25.05.2022
Reading time: 20 minutes
5
5557

EA Golden Elephant with an aggressive trading algorithm is designed to rid this world of poverty once and for all. But seriously, with proper use, it is really capable of being highly profitable - over 100% profit per month on one pair. As you might guess from the name, the robot will be of interest primarily to supporters of the Gold (XAUUSD).

Сharacteristics of the EA Golden Elephant

  • Platform: Metatrader4
  • EA version: 8.0
  • Currency pairs: Gold (XAUUSD)
  • Trading Time: Around the clock
  • Timeframe: M5, M15
  • Minimum deposit: 1000$ (per trading pair)
  • Recommended broker: Roboforex, XM, IC Markets

Trading algorithm

According to the author, the EA's trading algorithm effectively detects trend reversals on the XAUUSD pair, filters out various market noise, and accurately generates market entry points.

Aggressive trading of the EA and the use of a grid of orders with averaging makes it a highly profitable trading tool, but, as you know, this is directly associated with a high risk of losing all funds.

This short video clearly shows how the EA works in testing mode:

It can be seen from the video that if the trend does not coincide with the direction of the open position, the EA opens a grid of 4 orders (can be changed in the settings) with an increased lot without stop loss. It is clear that this method of trading is very dangerous, and if the price does not return to its original level, the adviser will lose the entire deposit.

Real performance verified by MyFxbook

On MyFXBook you can find several monitorings of this EA, but all of them are less than a year long:

EA Golden Elephant DemoEA Golden Elephant MT4 - super profit in a short time

EA Golden Elephant SN 100 USDEA Golden Elephant MT4 - super profit in a short time

EA Golden Elephant SN 200 USDEA Golden Elephant MT4 - super profit in a short time

Of course, it is difficult to imagine the work of the EA Golden Elephant in the long term based on these short-term monitoring. But, I would not be engaged in reinvestment, but would monthly withdraw the profit earned by the robot.

Backtests

Despite the author's assertions that the EA cannot be backtested due to the complex algorithm of actions for calculating volumes, I still performed backtests. This makes it possible to realistically assess the risks despite the “volume calculation algorithm”.

The author offers two EA settings files for aggressive and conservative trading (Aggressive M5 XAUUSD new.set and Conservative M5 XAUUSD new.set). But with these parameters and a recommended deposit of 1000 USD, the EA does not even pass one month in the strategy tester:

Aggressive M5 XAUUSDbacktest-ea-golden-elephant-aggressive

Conservative M5 XAUUSDbacktest-ea-golden-elephant-conservative

EA Golden Elephant successfully passes 4 months of testing only with the settings contained in the file Golden_Elephant_XAUUSD_M5 - recommended.set:

Secure M5 XAUUSDbacktest-golden-elephant-recommended
But even with these settings, the EA has an impressive drawdown - 62.92%, which makes it extremely unreliable. But this is not surprising, because Golden Elephant is an extremely profitable Expert Advisor, which is necessarily associated with high risk. Therefore, before using this robot on a real account, be sure to test its work on a demo for several weeks to a month.

Please note that backtests are performed with a modeling quality of 99.0% thanks to a wonderful software called Tick Data Suite. Today this is the only possible and fastest way to achieve 99% quality of modeling in MT4.

Tick Data Suite - Powerful, Accurate, Easy to use!

The trading algorithm for this EA should be as follows:

  1. First of all - a test period on a demo account of about 1 month
  2. Live trading with Golden_Elephant_XAUUSD_M5 - recommended.set and initial deposit of 1000 units or more. In no case do not invest money if you are not ready to lose it - the EA can lose it.
  3. Withdraw profit every month, leaving 1000 units of currency on your balance to protect yourself from the possible loss of all money. Do not reinvest earned money in one trading account.

In the archive EA_Golden_Elephant.rar (405.6 KB):

  • EA_Golden_Elephant.ex4
  • Aggressive M5 XAUUSD new.set
  • Conservative M5 XAUUSD new.set
  • Golden_Elephant_XAUUSD_M5 -recommended.set

Free Download EA Golden Elephant v 8.0

Mirror

Author:
Daniel
Share
Related Post
Comments:
  • MacD
    Published: 25.05.2022 Reply to the message

    This ea is good but it uses martingale...one thing I have discovered is don't be greedy use small lots. And if your account doubles withdraw and start afresh. Recommended pair XAUUSD only 5 minute time frame. A friend of mine took $1000 to $40 000 from December last year to March this year. He was using aggressive mode. Don't use aggressive mode use 0.01 lot and you will make a lot of Money with this ea. The good thing you can even start with $100.

  • fan
    Published: 03.06.2022 Reply to the message

    Dear Daniel Allard, the software is very good, the fly in the ointment, the floating loss is too large, if it can be optimized, the effect will be better, and the risk will be lower, if you change the position increase to take advantage of the trend, and change the take profit to conditional liquidation, this is absolutely Holy Grail, would you like to share the source code or indicators? Thanks.

    • Daniel
      Published: 03.06.2022 Reply to the message

      Unfortunately, my friend, just as there is no smoke without fire, there is no high quick profit without huge risk. And I don't have the source code. I'm sorry.

  • Abdul Waseem
    Published: 12.07.2022 Reply to the message

    Golden Elephant Conservative wash my $5000 account within few hours. I think this EA is able to wash $10000 easily. Not good experience.

  • Johannes Kahenze
    Published: 02.08.2022 Reply to the message

    Hi do we have an video on how to install the EA, I am new in indicators installation :-D :-D =) 8)

Name
Please enter your last name and first name
E-mail
No spam, we promise
Message text
By submitting this form, you agree to the political confidentiality and rules of our site.