Gold Chaser EA MT5 Settings Review – Complete Trading Strategy Analysis
🧩 Overview of Gold Chaser EA MT5
Gold Chaser EA is an automated trading system designed primarily for Gold (XAUUSD) trading. Based on the provided settings, this Expert advisor (EA) focuses on risk control, capital preservation, and steady profit accumulation, making it suitable for conservative traders and long-term automated trading strategies.
This detailed review analyzes each parameter from the settings panel and explains how they impact performance, risk management, and overall trading behavior.
🧩 Advanced Settings Explained
➡️ Max Trades per Symbol: 2
The EA is limited to opening a maximum of two trades per instrument.
This restriction helps:
- Prevent overtrading
- Control drawdown during high volatility
- Improve account stability when trading Gold
This is especially important for XAUUSD, which is known for sharp price movements.
➡️ Close All Profit (%): 5.0
When total floating profit reaches 5% of account equity, the EA automatically closes all open positions.
Benefits:
- Locks in profits during strong market moves
- Protects gains from sudden reversals
- Ideal for equity-based risk management strategies
➡️ Resume Trading on “Close All”: false
After the “Close All” condition is triggered, the EA stops trading instead of reopening new positions.
This setting:
- Prevents overtrading after profit capture
- Reduces emotional and algorithmic revenge trading
- Improves long-term consistency
➡️ Max Spread: 5.0
The EA only trades when the spread is below or equal to 5 points.
This protects the strategy from:
- Spread spikes
- Low-liquidity market conditions
- News-related execution risks
🧩 Standard Trading Settings
➡️ Magic Number: 20231116
A unique identifier used by MT5 to manage trades opened by Gold Chaser EA.
This ensures:
- No conflict with other Expert Advisors
- Accurate trade management and reporting
➡️ Take Profit: 600
Each trade targets 600 points in profit, allowing:
- Gold price fluctuations to develop naturally
- Capture of medium intraday or short swing moves
➡️ Trailing Stop: 400
The trailing stop activates once the trade moves 400 points in profit.
This feature:
- Secures partial profits
- Allows winning trades to run
- Reduces reliance on fixed take profit levels
➡️ Stop Loss: 5000
A wide stop loss of 5000 points indicates:
- Trend-following or recovery-based logic
- Dependence on trailing stop and equity protection rather than tight SL
This configuration favors market breathing room over aggressive stop placement.
🧩 Lot Size & Risk Management
➡️ Volume: 0.01% of Equity
Each trade risks only 0.01% of account equity, which is extremely conservative.
Ideal for:
- Small accounts
- Long-term automated trading
- High-volatility instruments like Gold
- EA testing or portfolio diversification
🧩 Symbol Configuration
Correct symbol mapping ensures compatibility across brokers.
| Asset | Symbol |
|---|---|
| Gold | XAUUSD |
| Silver | XAGUSD |
| Oil | BRXUSD |
| US500 | US500 |
| Bitcoin | BTCUSD |
| Apple Stock | AAPL |
| US30 | None (Disabled) |
Key Insight:
Gold (XAUUSD) is correctly configured as the primary trading instrument, while US30 is disabled to avoid unnecessary risk.
🧩 Trading Strategy Summary
Based on the settings, Gold Chaser EA MT5 follows a strategy that emphasizes:
- Low risk per trade
- Limited trade frequency
- Wide stop loss with trailing protection
- Global equity-based profit locking
- Spread and execution filtering
This approach is best described as a conservative Gold trading strategy with long-term stability in mind.
🧩 Final Verdict – Is Gold Chaser EA MT5 Good?
✅ Advantages
- Strong risk management
- Extremely low equity exposure
- Effective profit protection
- Suitable for volatile Gold markets
- Beginner-friendly and long-term safe
⚠️ Disadvantages
- Not suitable for fast scalping
- Slower equity growth
- Wide stop loss requires patience and margin
🧩 Overall Rating
⭐ 8.5 / 10 – Excellent Conservative Gold Trading EA.
🧩 Best Use Case
- Gold (XAUUSD) automated trading.
- Low-risk accounts.
- Long-term EA deployment.
- Portfolio diversification.
- Traders prioritizing safety over aggression.
