Yesterday Valery Trading developers team celebrated 6 months since the Golden Pickaxe was released. During these 6 months, a lot of things have happened in finance: bankruptcy of FTX and several banks in the US, the Fed rate growing at a record pace, and central banks buying the most gold in all recorded history.
Even one of these events can shake the market, and we got all of them concentrated in a short amount of time. Many think this is just the beginning. But let's not play a soothsayer here. Let's look at the Golden Pickaxe results since its release.
Since the EA developers have multiple accounts with this EA, it makes sense to look at the results of the EA with default settings. These are recommended ones. The EA was released with these settings used as defaults, and it still uses them by default.
You can see the results of the Balanced Vol account on the screenshot attached to this post. marked the moment of the EA release was marked roughly halfway through the track record's length. Even though the risk used on this live account is very high, there have been no big drawdowns on the live track record since the EA release.
That being said, it is her duty as a developer and seller of EAs to remind everyone about the risks of trading. If you want to trade safely, it's advisable to:
- Use the set file with volatility filtering, preferably Balanced Vol which is there by default.
- Use money management that is not too risky (pp. 44-45 of the Golden Pickaxe guide can help).
- Use risk management options, like the 'Max Floating Drawdown %' parameter, to cut risks in case of a significant drawdown.
If you follow these simple recommendations, it's almost impossible to lose more than specified by the EA!
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Forex trading can involve the risk of loss beyond your initial deposit. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.
Forex accounts typically offer various degrees of leverage and their elevated profit potential is counterbalanced by an equally high level of risk. You should never risk more than you are prepared to lose and you should carefully take into consideration your trading experience.
Past performance and simulated results are not necessarily indicative of future performance. All the content on this site represents the sole opinion of the author and does not constitute an express recommendation to purchase any of the products described in its pages.