The Gold Reaper MT5

I got the combo offer for the Gold Reaper and Gold Trade Pro. I started running them both in mid April on barebone stock settings. I set up a demo account with IC markets which is one of the developer's recommended brokers. Demo account with $1000 balance trading 0.01 lots. I did a backtest with $10000 from Jan 2021 to April 2024 also trading 0.01 lots. Backtest showed $1000 in profit over that period. I was underwhelmed by that but I thought in conjunciton with the other algo it will make some real money. On the demo account, the bot made 40% profit (+$400 on the initial $1000 balance) in about 2 weeks. I was impressed but decided to keep running it in demo as 2 weeks is too short of a period obviously. I saw some people leaving a review after running it for that much lol. Next time wait a bit more ;) For a month after the first two weeks nothing happened, the balance was slighly up and down but no major move. Then in month 2 things got hectic - the bot started losing, went down to $1200. Then it kept losing and on month 4 it got down to $800. That's almost a 50% drawdown. I decided to keep running it tho. Month 5 it got to $1200, then $1600. I thought maybe that's how it works so I kept running it. I actually forgot about it for a while. Then mid October which is exactly the 6 month mark I checked it again. It was at $900 from $1600. A bot that makes 30-45% drawdown swings every other month I can only call unreliable. The MyFXBook of the Gold Reaper also shows that same unreliability. True, it's an actual strategy rather than a martingale BUT I'm yet to see it make any consistent profit. Gold's been making all time highs since I started running this EA. If it's not making money now, when will it? I actually stopped it. I'm never giving it any real money. Not worth the risk. If I could, I would get a refund. Also prop firms - if you're thinking of using this EA on one - probably think again. Wim, no hard feelings mate. You give the impression of being a cool dude. Response time was always fast but I actually prefer a bot with 0 customer support that makes money over a fast response time for a bot which doesn't. Cheers.

Wim is a goodguy I have both gold reaper and gold trade pro. In the beginning it work but after my ac dd 40-50% so I decide stop used

It's destroying my earnings for the year, I'm deleting it from my portfolio to protect my account.

Not suitable for prop firms. Blew my propfirm account very fast and I have never used it again. Probably better for live accounts, but I trusted the "suitable for prop firms" advertisement, which shouldn't be there because of the "bad months" you talk about.

This EA is a waste of time and money. Since May this year, he has not managed to make me any profit, in fact, he is losing prop accounts. So stay away.

well good vendor, but the EA is losing money since June. The vendor's signal is accurate.

Solid EA. No fancy advertising, no linear backtest result yet reliable EA

Is the time zone for the Gold Ripper "H1"? I can't find it no matter how much I look for it.

Wim is excellent guy always ready to help. Product is bit slow but steady growth no martingale etc.

Wim is a very kind person, always willing to share with others, for example, he shared with me how he would optimize his own strategies to make them profitable and he is extremely transparent and honest. I was also inspired by one of my own strategies through his TGR strategy. The interaction between his overall strategies gave me some insights as well, so I'm very grateful to him.

Excellent support by Wim, he kept his word regarding the Free EA and also gave me the updated one as soon as possible after I asked for it. The EA is performing well and met my expectations. I highly suggest his EAs and hopefully he will keep supporting them and improving them for as long as possible!

Hello to everyone reading this review. I would like to say that I am very excited about the communication with Mr. Wim. He answers all questions in a friendly and calm manner. As I am new to trading with an EA robot, my questions were probably annoying. I have had the Reaper running for about 20 days now, and despite a bad series, I am up 6.7%. This week I also purchased Gold Trade Pro and received the rest of the EA for free. So now I have the Reaper/Gold Trade Pro/Daytrade Pro combo running for better and more consistent results. After a long examination of various EAs, this one seemed the most transparent and potentially profitable and consistent in the long run. I will update this review every 1-2-3 months and write about the progress of trading. I wish everyone a lot of success.

EA is good, I panicked in the beginning as i had a drawdown of almost -18% (using Reaper + GoldTradePro, medium risk), the recovery was quick and powerful, currently at 3% drawdown, i'm sure soon enough i will be in profits and the drawdown will be over, patience and emotional stability are required for Wim's EAs, don't judge too quickly.

It's worth mentioning that Wim (the author) is a transparent and honest person, he knows what he's doing and always supportive.

Update: i am currently in profit!

the bot is amazing, to be honest i didn't believe the EA in the beginning but i was wrong!!The EA is smart ne really profitable! You should try it guys! Wim is really helpful and really patience with all the customer respect mate and thanks again for the amazing job!

Excellent EA, profitable and very reliable. 5 starts to Wim's support, he always answers promptly and calmly though sometimes I had sooo many questions. :)

Acheter depuis plusieurs mois, Cet algorithme est rentable ! dévellopeur très sérieux et engagé, les risque sont très facilement réglable et dispose d'un Sl suiveur très bien réglé, je donne mes resultat depuis le 29 Mai 2024 dans les commentaire, sur mon compte réel 10 000€, ce robot à d'abord tourné sur compte démo et petit compte réel avant de passé à celui là et travail aussi actuellement sur challenge propfirm, je le conseille fortement, la stratégie est bonne !

The Author is nice don't get me wrong, but after a couple of months using the EA (low risks, 15% max dd with set files provided by the author) it's loosing money. Stay away.

I am using this EA since May 3rd. So far my account losing about 5%. In this same period, strategy tester also earn not so much. Other this EA holders are same result? or only me? Gold price was moved yesterday, but my EA didn't trade. Is this OK?

After a few weeks of running it on a live account, The Gold Reaper does what it is expected to do. The results are in sync with the live signal and with backtests. Running the Reaper with too high of a risk made me experience some losses overall. However, I know that in the long term the accounts will grow. For those who are used to grid and martingale systems, the experience of losses might be too much. Grid systems collect the losses and hide them in DD. However, sooner or later there's going to be a significant loss, and some might lose their accounts. However, this EA is different. It might sound strange, but what I like about the EAs from this developer is that they make you face your losses the minute they occur (every trade is entered with TP and SL). Once the hit is taken, you can move on to the next win or loss, but there's no uncertainty about ever getting back on track. If you like EAs that have solid data to back up their performance, then Wim/Profalgo's EAs are excellent candidates. There's also a lot to learn from the developer's community here on MQL5. The audience and Wim are respectful to one another, and Wim is always there to help and inform fellow members.

Perhaps a bit unfortunate as the gold market ranged and did not break through like February and March '24. This EA works poorly with false breakouts (which happens often) because it fills up and then hits the many SLs. Wim argues that you should look at it in the longer term, but that needs to be proven because gold is mainly driven by Smart money/Big Banks that look for easy liquidity around the resistance levels. So this EA trading behavior will happen a lot more if the EA is not adjusted correctly. People should consider to follow Wim's live account for a while and not buy too quickly...