Top 10 Expert Advisors in the market - which of them will keep it up in June 2024?

Top 10 Expert Advisors in the market - which of them will keep it up in June 2024?

First and foremost, a number of rules to define a good strategy:

• Diversification. A good strategy should be able to trade many symbols. Trading successfully for 2-3 months on one symbol is pure luck, and it will fail sooner or later.
• There must be a signal, either demo or real, trading for at least 3 months. Never trust a historical chart.
• A historical test should not show a growth which is more than 10 times in any one year. Otherwise, it is curve-fitting. Amateur Forex traders love such strategies, they do not know the truth: the nice historical chart will go the same nice way... only downwards, and it will be shorter because it will be cut by a margin call.
• Analysis, not popularity. A popular strategy may be a scam (it may be a good strategy, too). If you analyze a strategy, and you understand how it works and you can validate its working mechanism, it should be a more solid choice.

Spoiler: Not all is scam. Many strategies are Gold traders. Gold has been on the rise since January, and the strategies just kept making buys again and again. What if Gold starts making its usual large moves in opposite directions?

NB: My evaluation in this blog post may be totally wrong. I will recheck the top 10 after one month.

As of June 1st:

1/ The Gold Reaper MT5 - bad
2/ Quantum Emperor MT5 - bad
3/ Hercules AI - bad
4/ AI TradingVision GPX - bad
5/ SilverPulse AI - good
6/ FT Gold Robot MT5 - bad
7/ Goldtrade Pro ICM - bad
8/ GoldPulse AI MT5 - good
9/ Aura White Edition MT5 - bad
10/ Trade Assistant MT5 - good


1/ The Gold Reaper MT5

166 purchases in the last month
53 reviews (approx. 530 total purchases)
Max revenue of the seller approx. 300K USD

Pros:
- Trading on Gold which is volatile. It may be profitable very quickly, within a few months.

Cons:
- Guys, it is a grid. We can stop right here, but there is more.
- One symbol. It is pure luck. It may be winning for some time, but it will fail, and it will fail grossly.
- The majority of its trades since January 2024 are buys, according to its signal. Gold has been rising since January. It never expected a trend. It just made buys again and again.
- Cannot trade in the flat. Apparently, it trades on intersections of ATR with different periods, which is the one trend indicator which always fails when it is not a trend. Gold has stuck in May, and so has the strategy: -5% according to its signal. Remember: the market is flat 80% of the time.

Conclusion: It will fail in June. Actually, it failed in May, according to its signal, but users keep buying because they are susceptible to popularity.



2/ Quantum Emperor MT5

24 purchases in the last month
284 reviews (approx. 2840 total purchases)
Max revenue of the seller approx. 2.5M USD

Pros:
- Trading on GBPUSD which is volatile. More risk is usually more profit opportunities.

Cons:
- Signal is a manipulation. Whenever a drawdown is looming, the seller adds funds to the balance to dilude it. When it calms down, the seller withdraws the funds to make it look like it was profitable from a small deposit with a low drawdown. Actual drawdown is about 40-50%. The seller added and withdrew the funds 3 times, so this drawdown was possible every month of its history.
- One symbol. Guys, it will fail sooner or later.
- Why this prohibiting price to subscribe to the signal?
- It is not a news strategy, so what is the idea behind setting up opposite buy and sell stops? No description of the strategy.

Conclusion: It will fail in June. Why no description of the strategy? Is it because it is another Martin hoping to be lucky in the flat?



3/ Hercules AI

55 purchases in the last month
8 reviews (approx. 80 total purchases)
Max revenue of the seller approx. 80K USD

Pros:
- Trading on XAUUSD which is volatile.

Cons:
- One symbol.
- Volume 0.03 and increasing to 0.06 for a deposit of 400 USD?? One trade may kill the account. Simply avoid it.
- A prohibiting price to subscribe to the signal.
- It looks like a Martin. It keeps increasing the volume (0.03 to 0.06 according to the signal history). Then the cycle is cut, and it renews a cycle starting again from 0.03.

Conclusion: It may fail any time. The proportion of the volume to the deposit is ridiculously inaccurate. It looks like a Martin.  Remember: A Martin strategy has a 50% chance to lose it all with one trade.



4/ AI TradingVision GPX

26 purchases in the last month
59 reviews (approx. 590 total purchases)
Max revenue of the seller approx. 590K USD

Pros:
- Trading on GBPUSD which is volatile.

Cons:
- One symbol.
- I did a historical test since January 2024, it is only losing. A bizarre thing.
- It looks like a Martin with a neural network. If you explore the description and the links provided by the seller, it turns out there are several signals, both demo and real, some demo signal of this strategy are -21% loss, others are 50% growth. Why is that?
- Why these dumb strings in the panel? Algo Trading: True? Name=Tester? Company=MetaQuotes Ltd.? It looks very much like the seller is only starting to explore the possibilities of the MQL5 language.
- A test on one symbol is very slow. Is it because the seller cannot code properly?

Conclusion: It may fail any time. Several signals, some winning, some losing.



5/ SilverPulse AI

34 purchases in the last month
3 reviews (approx. 30 total purchases)
Max revenue of the seller approx. 75K USD

Pros:
- Trading different symbols.

Cons:
- No signal. Similar strategies from the seller have signals all less than 3 months. Hard to trust.
- It is similar to "The Gold Repear MT5" because it trades everything through Silver, another metal asset like Gold. Metals have been on the rise since January. What if the market starts making larger moves in opposite directions?

Conclusion: It may be good. We can know it for sure if there is a signal going for at least 3 months.



6/ FT Gold Robot MT5

79 purchases in the last month
16 reviews (approx. 160 total purchases)
Max revenue of the seller approx. 80K USD

Pros:
- Trading on XAUUSD which is volatile.

Cons:
- A historical test is curve-fitting. Guys, it is another strategy to seduce the inexperienced amateurs in the Forex trading community.
- 3 weeks of signal, hard to trust.

Conclusion: It will fail because it has a nice historical pic and no description of the strategy, which is always a scam.



7/ Goldtrade Pro ICM

57 purchases in the last month
34 reviews (approx. 340 total purchases)
Max revenue of the seller approx. 200K USD

Pros:
- Trading on XAUUSD which is volatile.

Cons:
- I did not see much difference from "The Gold Repear MT5", another top product from this seller. The signal of this strategy really looks like a Martin increasing volume size and then restarting a cycle. The strategy was seemingly not successful in November-December (both months show a minus in the signal), so the seller started a new strategy based on the same principle.

Conclusion: It will fail in June, same as "The Gold Repear MT5", another strategy from this seller.



8/ GoldPulse AI MT5

57 purchases in the last month
26 reviews (approx. 260 total purchases)
Max revenue of the seller approx. 250K USD

Pros:
- Trading many symbols.

Cons:
- Check the cons for "SilverPulse AI", which is another top product from this seller.

Conclusion: Maybe, and only because we do not have a signal longer than 3 months.



9/ Aura White Edition MT5

20 purchases in the last month
32 reviews (approx. 320 total purchases)
Max revenue of the seller approx. 250K USD

Pros:
- Trading many symbols.

Cons:
- A nice historical chart. It is a scam meant to seduce amateurs in Forex trading. It won't make money in live trading. A neural strategy, which memorized history up to a tick, cannot make new correct decisions in the future.
- A signal of 4 weeks which is nowhere similar to its nice historical chart.

Conclusion: Definitely a scam.



10/ Trade Assistant MT5

232 purchases in the last month
214 reviews (approx. 2140 total purchases)
Max revenue of the seller approx. 214K USD

Pros:
- A nice utility.
- Many options, many useful tools.
- Many trails, many takes, many many many.

Cons:
- It is not an automated strategy. You use it to make your own trading decisions.

Conclusion: Should be good if nice buttons help you trade. Personally, if I have to trade manually, I will not buy a utility because all the buttons are already there in MetaTrader 5 by default.