๐งฉ What is GoldMatic EA?
GoldMatic EA is an automated trading system for MetaTrader 5 (MT5), mainly designed for Gold (XAUUSD) but adaptable to other instruments.
From the settings shown, GoldMatic follows a recovery / averaging logic with flexible trade timing, no forced stop by default, and manual risk control via trade limits and lot sizing.
This EA is suitable for:
- Intraday & swing trading.
- Volatile markets (especially Gold).
- Traders who prefer manual control over risk limits.
๐งฉ Core Trade & Risk Protection Settings
| Parameter | Value | Explanation |
|---|---|---|
| Hard Stop (Account Currency) | 0.0 | Disabled โ no absolute loss cap |
| Hard Stop Percentage | 0.0 | Disabled โ no equity-based stop |
| Re-enable Trading After Hard Stop | No | EA stays stopped if hard stop is used |
| Max Spread (Points) | 0 | Disabled โ trades regardless of spread |
| Trailing Stop (Points) | 0 | Disabled |
| Min Distance Between Recovery Trades | 0 | Auto distance |
| Trade Direction Mode | Both | Allows Buy & Sell trades |
| Max Open Trades | 0 | Unlimited open positions |
| Stop Trading on Fridays (Hour) | 0 | No Friday cutoff |
โ Risk Warning:
With all hard stops disabled, GoldMatic relies heavily on market recovery. This can result in large drawdowns if the market trends strongly against open positions.
๐งฉ Trading Time Configuration
GoldMatic allows custom multi-session trading schedules, but all fields are left empty, meaning 24-hour trading.
| Day | Trading Time |
|---|---|
| Monday | All day |
| Tuesday | All day |
| Wednesday | All day |
| Thursday | All day |
| Friday | All day |
โ
Advantage:
Maximum opportunity capture, especially during high-volatility sessions (London & New York).
โ Disadvantage:
No protection during low-liquidity or news-heavy periods.
๐งฉ Profit Display & Trade Information
| Parameter | Value | Explanation |
|---|---|---|
| Count Swap Fees in Profit | Yes | Accurate profit calculation |
| Display Profit on Chart | On | Real-time trade statistics |
| Magic Number | 321321 | Unique EA identifier |
| Comment | (Empty) | No custom trade label |
๐ Assessment:
Useful for manual monitoring and performance tracking directly on the chart.
๐งฉ Notifications & Safety Alerts
| Parameter | Value |
|---|---|
| Send Email on Hard Stop | No |
๐ No automatic alert if the EA hits a critical loss level (if enabled later).
๐งฉ Lot Size & Money Management
| Parameter | Value | Explanation |
|---|---|---|
| Fixed Lot Size | 0.0 | Auto lot sizing |
| Minimum Profit (Account Currency) | 0.0 | No minimum profit filter |
| Wait for Better Profit Before Closing | No | Closes as soon as conditions are met |
| Maximum Trade Delay (Seconds) | 0.0 | No execution delay |
| Time Delay Between Trades (Minutes) | 0.0 | No cooldown |
| Recovery Lot Multiplier | 1.0 | No martingale |
๐ก Key Strength:
Recovery multiplier = 1.0 โ No martingale, significantly reducing risk compared to aggressive grid EAs.
๐งฉ Recovery & Risk Behavior Summary
| Feature | Status | Impact |
|---|---|---|
| Hard Stop Protection | Disabled | High risk in strong trends |
| Martingale | Disabled | Safer recovery model |
| Trade Limit | Unlimited | Can increase drawdown |
| Spread Filter | Disabled | Risk during news & rollover |
| Time Filter | Disabled | Trades 24/7 |
โ Final Verdict: Is GoldMatic EA MT5 Safe & Worth Using?
Pros
โ No martingale multiplier
โ Simple, transparent logic
โ Flexible trading hours
โ Suitable for Gold volatility
โ Clear on-chart statistics
Cons
โ No hard stop or equity protection
โ Unlimited open trades
โ No spread or news filter
โ High exposure during strong trends
โญ Best Use Case Recommendation
GoldMatic EA MT5 is best suited for:
- Experienced traders
- Gold (XAUUSD) on M5โM15
- Medium to large accounts
- Manual risk supervision
๐ง Recommended Improvements
To improve safety:
- Set a Hard Stop (currency or %)
- Limit Max Open Trades
- Enable Max Spread
- Avoid trading during high-impact news
