Gold Extractor is a Forex robot that works with the XAUUSD pair only. The vendor indicates that you need the EA because you just cannot trade gold with technical analysis. According to her, gold is like a live character that responds quickly to economic news, a change to the country’s policies, and the inflation expectations of the USA. So, the EA will gather all the basic data needed to help you make informed trading decisions.

Product offering

These are the features the robot offers:

  • Lists all the economic news/calendar on the user’s chart, on their panel + session market time
  • Includes a trail function, martingale recovery, auto-close function, and auto close with the user’s customized profit 
  • Has  a complex panel containing all functions that traders require to have for manual trading
  • Users are allowed to trade manually using a negative correlation between gold and US10Y with a panel technical data and let the robot manage it and close trades in profit
  • Users are required to use a minimum balance of $500
  • The timeframe used is M5 or M15
  • An ECN account is recommended
  • No set file is needed, so you can trade with default settings
  • If a broker utilizes a prefix or suffix (such as XAUUSD.a), you are supposed to update it in the EA’s inputs
  • The minimum deposit is $500

Sarah Sabaghi is the person behind this EA. She is a professional developer at Ziwo, a company that focuses on creating financial market tools by engaging artificial intelligence (AI), NLP in Sentiment Analysis, and Quantitative Finance. Sarah resides in Sweden and has also created tools like Fundamental Trader, Trend Scalp Pro, Night Theft, Super Trend Pro, etc.

You can buy a lifetime license for $220. For rental options, the cost is $50, renewable monthly or $99 if paid every three months. A money-back guarantee is unavailable. 

The robot’s price. 

Trading strategy 

The vendor discloses that this EA utilizes online basic data and US10Y and Inflation Expectations to lock in the movement of gold utilizing the scalping strategy. The martingale approach is also employed to recover losses. 

Trading results

We could not find the backtest results of this EA. So, we cannot determine the profitability potential of the robot in the long term. The good news is that you can find the live trading stats of the robot on Myfxbook. See our analysis of the data below:

Live trading stats on Myfxbook. 

The Gold Extractor has used a deposit of $1000 to make a $65.08 profit, which has, in turn grown the account by 6.51%. On average, the system makes a daily and monthly profit of 0.27% and 6.51%, respectively. The drawdown rate currently stands at 1.32%, a safe value indicating that trading risks are minimal. 

Performance of trades. 

The EA has carried out 248 trades in less than a month of live trading. The resulting profits are equivalent to 2164 pips. In general, a position remains open for 47 minutes. So far, the attained success rates for the long positions are 82% and 85% for short ones. From the profit factor of 1.64, it is apparent that the trades are relatively profitable. Sadly, the EA has a higher losing streak. As you can see on the screenshot, the average loss value (-192.10 pips) is four times higher than the average win (47.35 pips). 

History of trading. 

The scalping strategy is apparent. Fixed lot sizes are used, but no SL or TP is attached to orders. A majority of the trades have been profitable. 

account’s risk of ruin. 

The stats on the table above prove that the account’s activities are safe.

Customer reviews

There are a total of 38 reviews for this EA on MQL5, and the overall rating is 4.59. This means that many traders are pleased with the system. One user admits that you can make good profits with the Gold Extractor if you follow the developer’s instructions and manage risks. Another one says that it can grow your account and maintain a low drawdown. 

Among the dissatisfied clients, the claim is that the EA doesn’t work and the gift offered for giving the platform a positive review shows bad performance during backtesting.

Positive user reviews. 

Negative user reviews. 

Pros
Good customer rating
Low drawdown
Live trading results are present
Cons
Short trading history
Lack of a backtest report
No refund policy
High losing streak
5
Verdict
The Gold Extractor has a good customer rating, and seems to be a safe trader going by the small drawdown it has made in a live account. Unfortunately, the losses generated from trades are substantially higher than the profits. If this doesn’t improve over time, then the future of this EA is bleak.

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