In the previous months, we initiated a friendly wager to determine the top-performing Gold EA on the MQL market. We are thrilled to announce the highly anticipated state as of the 1st July 2023!
The evaluation comprised many EAs from the MQL market. However, only those which present a live signal with a life span of at least 10 weeks have been considered.
The evaluation used only two metrics:
Profitability: Total profit / amount of weeks
Reliability: Profitability / drawdown
After computing the profitability and the reliability metrics in the table, we can plot the EAs on a map where the profitability is represented by the horizontal axis and the reliability by the vertical axis.
In the past weeks BonnittaGold lost its leading position due to a higher drawdown reaching a peak value of -41%. Its nature, holding positions until profit might not feel comfortable for everyone. One of the currently most reliable EAs, "Gold High" seems to have similar logic implemented. Thus, it might be a matter of time until it will run into higher drawdowns similar to "Bonnitta Gold". In contrast to this, "AI for Gold" closes the positions immediately as they reach a Stop Loss (SL) level. This makes the much more reliable.
In case you are interested in how to uncover the "hold until profit" risk from public EAs, please read the blog article The Secret Reliability Information about EAs
Consider using the winner for your portfolio: AI for Gold here.