1. Introduction
Hello, my name is Quoc Khanh 🙋♂️
I am an independent Vietnam developer with a passion for finance.
Trader for years, I started developing trading algorithms a while ago.
I created my own product to stand out from everything else on the market today. I’m always try to optimize and develop it better.
Welcome to my guide for Expert Advisor (Gold Rush Pro).
Gold Rush Pro is an EA designed for specifics pairs, so it is not recommended to use it elsewhere. The timeframe has no real impact on live trading but in order to have better test quality, the recommended timeframe is M1.
This EA requires an Hedge account, leverage 1:500 or more is recommended.
I do not recommend Gold Rush for beginners. Be sure to understand how MT4 and this EA works before going live.
Check out the Metatrader 4 manual here: https://www.metatrader4.com/en/trading-platform/help
Gold Rush uses homemade algorithms to distinguish it from anything else on the market. Its trading style makes it unique.
It is a risk scalper that actively uses martingale and dynamic grids, allowing you to exit withdrawals faster and reduce the number of trades. As each cycle is independent, it is possible to have several at the same time. You can therefore define a maximum number of simultaneous cycles.
What is a cycle? A cycle is strategy with a signal, an entry and an exit.
Each cycle is independent, it has multiple orders, it has its own signal, breakeven and take profit >= [MinProfit].
For small traders, it is even possible to define a number of active cycles depending on their current balance.
In order to manage risk more simply, a one-day TP target can be activated, or a percentage SL based on account equity.
But be careful, for 0.01 initial lot, one cycle SL is equivalent to 100$. If you start with 100$, you might lose everything.
Before continuing, I want to remind you, it is important to understand that backtests are only used to validate the veracity of the strategy. Nobody will ever give you an EA with 100% winrate on mql5. Otherwise they would be billionnaires in a few months and there is no point of selling it. I’m not selling a 100% winrate EA, I’m selling my time of research, my experience and my tool to achieve a good winrate ratio. You should refers to the demo signals, not the backtest, if you want to have a look of the lives performances. Keep in mind that Gold Rush is a high risk robot.
You need to take a step back and consider that the goal of a trading bot is not to return a delirious profit. Remember that the best fund in the world has an annualized return of 66%, and this performance cost millions perr year. Don’t expect to get more than that without some risk on the table.
I also remind you that we live in extremely volatile times. Interest rate changes, shortages, geopolitics. These are factors have a strong impact on the market. Manage your risk carefully.
2. Inputs
- Timeframe: M1 for XAUUSD (Gold).
- Metals: XAUUSD (Gold), but you can try other pairs.
- Minimum balance for normal risks $ 1000. If you need to reduce the risk, use a higher balance.
- Lot: Use 0.01 lot for 2-3 months so you can understand the EA’s strategy. After that, you can increase your lot depending with your account balance.
- Leverage 1:500 or more.
Feature:
- News Filter to stop EA before high impact news (You must add the address https://nfs.faireconomy.media/ in the list of allowed URLs tab “Expert Advisors”).
- News Filter can not back testing. This will cause back testing results to be inaccurate, because News Filter will help EA remove bad trades to limit Drawdown.
- AutoLot to ensure profit for each account according to the balance initial.
Please use a different magic number on each pair in order to avoid any order issues. Also, please put a max spread limit number to avoid entering trades during high spread sessions.
Let’s see the input list:
Gold Rush Pro Settings
- Initial Lot: Set the initial lot for a cycle.
- Max Trades (Cycle) [0 = Off]: Limit the number of trades open. Set to 0 to disable this feature.
- Min Profit [0 = Off]: Profit, minimum breakeven. Set to 0 to disable this feature.
- Distance: Distance to the next opened order.
- Pip Steps: Distance to the next opened order.
- Lot Exponent: The lot number of the next order is exponential.
- Use Average Bar: True is used, False is not.
- How Bar: The number of candlesticks to be counted.
- Exp Bar: Candle bar values are used in the average total number of candlesticks.
Autolot Settings
- Use AutoLot: True is used, False is not.
- Balance Per Initial Lot [0 = Off]: Defines the initial lot of a cycle based on the balance. Set to 0 to disable this feature.
For example, if initial lot = 0.01, Balance per initial lot = 1000, Maximum initial lot = 0.25.
| Initial Lot | Balance Per Initial Lot |
Current Balance | Current Initial Lot |
|---|---|---|---|
| 0.01 | 1000 | 750 | 0.01 |
| 0.01 | 1000 | 1000 | 0.01 |
| 0.01 | 1000 | 1550 | 0.01 |
| 0.01 | 1000 | 2000 | 0.02 |
| 0.01 | 1000 | 2550 | 0.02 |
| 0.01 | 1000 | 3000 | 0.03 |
| 0.01 | 1000 | 7550 | 0.07 |
| 0.01 | 1000 | 25050 | 0.25 |
| 0.01 | 1000 | 32000 | 0.25 |
- Balance Per Cycle [0 = Off]: Set the maximum active cycle based on the balance. Set to 0 to disable this feature. Set to 0 to disable this feature.
For example, if number of cycle per balance = 200, Maximum number of active cycle = 10.
| Balance Per Cycle | Current Balance | Current Active Strategy |
|---|---|---|
| 200 | 195 | 1 |
| 200 | 200 | 1 |
| 200 | 355 | 1 |
| 200 | 400 | 2 |
| 200 | 455 | 2 |
| 200 | 800 | 4 |
| 200 | 1955 | 9 |
| 200 | 2025 | 10 |
| 200 | 4337 | 10 |
- Maximum Lot [0 = Off]: Defines the maximum initial lot of a cycle. Set to 0 to disable this feature.
Money Management Settings
- SetMM Plus (+): True is used, False is not.
- $ Target Day (+): Profit target for the day.
- SetMM Risk Loss (-): True is used, False is not.
- % Risk Loss (-): Percentage of loss by balance.
- Magic Number: Identification number.
- Comments: Trade name EA.
- Max Spread [0 = Off]: Set the maximum spread allowed to open a cycle. Set to 0 to disable this feature.
- Break Time (Minutes) [0 = Off]: Rest period after the end of the cycle. Set to 0 to disable this feature.
News Filter Settings
- News Filter: True is used, False is not.
- Filter News By Currencies: Like its meaning “Filter News By Currencies”.
- Defined Currencies: Like its meaning “Defined Currencies”.
- Filter By Volatility: Like its meaning ” Filter By Volatility”.
- Update Interval: Time to update news.
- (Hours)Stop Trading Before And After The News: You got it right.
- Server Time Offset: Time zone is set by your broker.
- Allow Panel At Chart Right: Location shows news on the chart.
Times Settings
- Use Time: True is used, False is not.
- Start Hour: Transaction start time.
- End Hour: Transaction end time.
- Monday Orders => Sunday Orders: Trading days of the week.
Infomation Settings: True is used, False is not.
3. Updates
Gold Rush Pro will be updated over time. Adding new features but also updating the less efficient patterns.
When a new update is live, you will received a message on MQL5. I recommend to keep Gold Rush Pro updated.
If you have any ideas for features to include, please let me know. I don’t promise to implement them, but I will be listening to you as much as possible.
4. Risks
Risk definition: a situation involving exposure to danger. Always remember that the market is unpredictable.
Past performances do not guarantee future performances.
Based on 1:500 leverage, I recommend at very least $200 per cycle for an initial lot of 0.01.
Remember the rules:
- N°1: Only invest what you can afford to lose.
- N°2: Secure your profits.
- N°3: Always have a stoploss.
Note: For 0.01 initial lot, one cycle SL is equivalent to 100$.
If you start with 100$, you might lose everything.
If you have 10 cycles of 0.01 initial lot, you risk 10x1x100$ = 1000$
If you have 5 cycles of 0.05 initial lot, you risk 5x5x100$ = 2500$
5. Settings
There are many ways to manage your risk. I’ll summarize it all in a table:
Using 1 pair only:
| Very High Risk | High Risk | Medium Risk | Low Risk | |
|---|---|---|---|---|
| Minimum Starting Balance (More Risk) |
100 | 200 | 300 | 500 |
| Recommended Starting Balance | 300 | 1000 | 3000 | 10000 |
| Initial Lot | 0.01 | 0.01 | 0.01 | 0.01 |
| Balance Per Initial Lot | 300 | 1000 | 3000 | 10000 |
| Balance Per Cycle | 100 | 200 | 300 | 500 |
| Maximum Initial Lot | 4 | 2 | 1 | 0.5 |
| Maximum Number Of Active Cycle | 3 | 5 | 10 | 20 |
You can adjust your risk by yourself or download setfiles at the bottom of this blog post.
It is important to take into account the number of orders and the maximum volume allowed by your broker.
6. Bug and errors
If you think you have an error or an issue with Sun, please send me a report on a private message.
I need, at least, a screenshot of your chart and your orders (with comment and magic number displayed)
I also need your journal and your expert log.
With all this informations I might be able to help you fast.
If you don’t have trade, check this step 1 by 1:
- Make sure your MT5 is running 24/7
- Check if you can read auto trading enabled
- Check if you have trade on the strategy tester with the same settings. If you don’t have trade on tester, change the filing type and retry until you find the good one.
- Check the spread filter
- Check the VPS journal log to see if there is an error
- Check, if you are using rent, that your new license is activated on your MT5.
- Wait at least 1 day to let time to have a signal
If you have a question, feel free to send me a private message on MQL5 or join my Telegram: https://t.me/GoldRushVN
Have a good day,
Quoc Khanh.
RISKS ASSOCIATED WITH FOREX TRADING
Trading in foreign exchange (“Forex”) on margins entails high risk and is not suitable for all investors. Past performance is not an indication of future results. In this case, as well, the high degree of leverage can act both against you and for you. Before you decide to invest in foreign exchange, you should carefully assess your investment objectives, experience, financial possibilities and willingness to take risks. There is a possibility that you will lose your initial investment partially or completely. Therefore, you should not invest any funds that you cannot afford to completely lose in a worst-case scenario. You should also be aware of all the risks associated with foreign exchange trading and contact an independent financial advisor in case of doubt.
Leverage enables traders, using a relatively small amount of money, to take a position that is many times the initial investment. This leverage effect can work both in your favour and to your detriment. The Forex market opens up the possibility to utilize this leverage effect to a high degree; at the same time, however, it also opens up the risk of experiencing high losses. Please trade with caution when you use leverage in trading or investing. Your risk is particularly not limited to the initial investment, but can quickly fall into a negative range in the event of strong movements, meaning you may be obligated to pay far more than your initial wager.
