GoldExcel V3.0 - Essential Upgrade.
Information contained in this blog is specific for the Trading Product GoldExcel MT4 & MT5
MT5: https://www.mql5.com/en/market/product/111410
MT4: https://www.mql5.com/en/market/product/111974
We release NEW Version 3.0 today for MT5 29th Feb 2024. MT4 will be released tomorrow 1st March 2024.
The 3.0 TWIN CHART SETUP will be added to our 3 live tracking accounts from Monday 4th March, not BEFORE.
This allows users a few days to setup so we can align from Monday. As noted below the system will then place trade orders 2 times a day from then onwards ..
GoldExcel is 3.0 is an essential upgrade for more than 1 reason.
Performance - GoldExcel 3.0 now will run 2 trades per day as opposed to single trade system. This gives multiple benefits to users of goldexcel.
Trade 1 (chart 1) MUST run on the 5 MINUTE chart. If you are backtesting MAKE SURE USE 5 MIN CHART!!! Trade 2 (chart 2) will remain on the 30 MINUTE chart. (OR it will actually run on 5 min or 15 min also, immaterial to the trades)
(1) Diversity - By stepping into a twin chart/trade system, the user is making the system more diverse and not relying all on the single trade to do all the work.
(2) Risk Management - The increase of 5.0 after loss can be an un-nerving jump in lots for most users. **By implementing a twin trade, the extra trade allows us to drop the increase to 3.0 from 5.0 after loss**, making the jump after loss much easier to live with.
(3) No Trade Overlap - Trades are open and closed at seperate times, so in no way can there be any trade overlap, hence there is zero correlation between trade 1 and trade 2.
(4) Stronger performance - The new trade we are introducing is actually stronger in backtesting than the current trade, so we know that it will fulfil itself as a strong partner to the existing trade.
PROP Account Users:
The GoldExcel 3.0 is critical for prop users also. Problems faced with prop trading is trades disallowed to all use same system, etc, on V3.0 has multiple ways to "scramble" some of the settings that allows EA to trade almost identically but marginally different and without any performance decrease.
These small minor changes makes everyones' trade a little different from one another, avoiding prop infringement of terms.
These 5 changeable Factors are:
(i)Upside Gap
(ii)Downside Gap
(iii)Trailing start
(iv)Trailing stop
(v)Breakeven
What they can be adjusted to and from is outlined in the updated manual GoldExcel V3.0
We have also provided sets for prop firms in the comments.
Bugs Addressed.(v3)
(1) Issue with not enough money error fixed when users using prop firms and low leverage brokers, this margin calculation issue is fixed.
Especially prevalent when the recovery trade was in play.
(2) Users now with 7 digit broker quotes (exness/IG/Oanda/Weltrade/Robo) have now the ability to use EA without need for special version.
Set files are provided in the comments section for:
GMT+2 6 digit broker (e.g mostly all prop firms,IC, Tickmill, etc, and 90% of all ASIC/FCA/CYSEC brokers)
GMT+2 7 digit broker (e.g weltrade, robo)
GMT+0 7 digit broker (e.g exness,oanda)
GMT+2 Prop Sets with relevant risk parameters adjusted.,
Overall the upgrade we believe is a positive one, it boosts performance & diversity whilst lowering the hard jump post loss. This will provide a
more balanced equity curve with uncorrelated trades.
***********NOTE: If you do look at the combiner reports there are loss months, for definite is the nature of the game when working with fixed stop loss, always will be tougher periods. What we have is a system than can run for long term with little user management and the ability to trade prop accounts or normal accounts for the long term. If you want no loss months, or straight up equity lines, this is not the place for you.*****************
Backtesting - Use sets provided and make sure to use the chart 5 minute when testing. Backtesting results are in comments of product.
Any questions, contact by PM.
Keep an eye on comments section as I populate with sets and backtests in coming 24 hours.
All current MT5 GoldExcel find attached V3.0 Quickstart guide.
I have attached all set files for:
GMT+2 6 digit broker (e.g mostly all prop firms,IC, Tickmill, etc, and 90% of all ASIC/FCA/CYSEC brokers)
GMT+2 7 digit broker (e.g weltrade, robo)
GMT+0 7 digit broker (e.g exness,oanda)
GMT+2 6 digit PropSettings (start risk 1%, max risk 3%)
attached are backtests for standard running mode (start 5%, max 15%) and prop running mode with both tests combined into a single strategy using quant analyser.
