The Gold Reaper

Gold Reaper trades exclusively XAUUSD (spot gold) on the H1 (1-hour) timeframe, and the manual instructs you to open an XAUUSD H1 chart specifically before attaching the EA. It automatically detects your broker's exact symbol name, whether that's XAUUSD, GOLD, or a variant with a suffix, so you don't need to manually match naming conventions. All 9 internal breakout strategies are calibrated for gold's volatility and typical daily range on this timeframe, and running the EA on other symbols or timeframes isn't supported by the vendor's settings or documentation.

No. The product manual explicitly states Gold Reaper uses no grid, no martingale, and no dangerous averaging methods. Every trade opens with a fixed stop-loss and take-profit, plus dynamic trailing stop-loss and trailing take-profit as the trade moves favorably. Lot sizing is calculated once per trade from your account balance and chosen Max Allowed Total Drawdown percentage rather than increasing after a loss, which keeps maximum theoretical risk per trade bounded and calculable in advance instead of open-ended.

Profalgo lists a $600 minimum account balance in the official manual, with the EA's automatic lot sizing adapting position size to whatever balance and Max Allowed Drawdown percentage you configure. That said, $600 represents a floor rather than an ideal starting point; smaller accounts have less room to absorb the 8.38% maximum drawdown seen in the reviewed live history without meaningfully affecting lot sizing flexibility. Larger balances, particularly for prop-firm challenge accounts, give the Weighted Lotsize and OnlyUp settings more room to operate as intended.

Yes. The manual includes a dedicated Quick Start Setup section listing exactly which settings to enable for most users: TradeFrequency = Auto, Lotsize method = Max Allowed Total Drawdown, Weighted Lotsize = true, UseVariableValues = true, and the NFP filter enabled. Following these defaults gets a working configuration running without needing to understand each of the 9 individual strategies. Beginners should still take time to read the risk management section and test on a demo account, since the manual itself recommends this before going live.

The manual states a VPS is strongly recommended for continuous 24/5 operation, though it isn't strictly mandatory. Since Gold Reaper manages open positions with dynamic HL_TrailingSL and time-sensitive NFP filtering, a dropped connection on your home computer could leave a trade without proper trailing management during a fast XAUUSD move. VPS hosting typically runs $15-30 per month and many brokers offer discounted or free VPS access if you maintain a minimum account balance, which is worth checking before paying separately.

Yes, the EA includes settings built specifically for this. A Set Max Daily Drawdown parameter, a full set of Prop Firm Unique Trade Settings for adjusting entry, SL, TP, and trailing levels independently, and a higher recommended Randomization value are all documented for prop-firm use, along with a dedicated Prop Firm set file from Profalgo. Rules vary significantly between firms, though, so always confirm your specific challenge allows EAs and check any restrictions on lot sizing, news trading, or maximum daily loss before running it on a funded evaluation.

Yes, extensively. Beyond the Auto mode, you can individually enable or disable each of the 9 strategies (grouped as low, medium, and high risk), switch lot sizing methods, adjust the Fake Breakout Filter sensitivity, set a Friday stop hour, and fine-tune NFP filter timing including minutes before and after the release. The manual notes one important restriction: manual strategy selection should not be combined with the Max Allowed Total Drawdown lot sizing method, since the two are designed to work separately.

Most single-strategy gold EAs rely on one entry model working across all market conditions, while Gold Reaper spreads signal generation across up to 9 independent breakout strategies grouped by risk level, so a weak stretch for one strategy type doesn't define the whole account. Compared to manual XAUUSD trading, it removes the need to monitor multiple timeframes for breakout confirmation yourself, though it also can't adapt to discretionary judgment the way an experienced manual trader might during unusual news-driven volatility.

Profalgo LTD states that regular free updates are included with every purchase, delivered through the same channel you originally purchased from. Support is available via email ([email protected]), and a private Discord community, and the vendor also provides custom .set files on request, which is relevant since MetaTrader platform changes and shifting gold volatility periodically require parameter adjustments.

Gold Reaper is priced at $849 as a one-time payment, which includes the EA files, the full product manual, lifetime free updates, and access to Profalgo's support channels. There's no recurring subscription fee. As with any EA purchase, confirm exactly how many account activations are included with your license before buying, since this can vary by purchase channel.

The manual recommends a low-spread ECN broker for gold specifically, since XAUUSD spreads and slippage vary considerably between brokers and directly affect a breakout strategy's results. The Max Allowed Spread parameter (default 500.0 in broker points) lets you set a hard ceiling so the EA skips entries when spread widens beyond your threshold, which is particularly relevant around news events or session transitions when gold spreads can spike.

In the live trading history reviewed for this page, the account recorded a maximum balance drawdown of 8.38% (503.65 in account currency) over roughly eight months of trading, though your own results will depend on the Max Allowed Total Drawdown percentage you configure, which strategies are active, and overall XAUUSD volatility during your trading period. The manual lets you set this ceiling directly, with 10-30% cited as a typical range for standard (non prop-firm) accounts.

The manual doesn't explicitly restrict this, and Gold Reaper uses a configurable Base Magicnumber (default 8000) specifically so its trades can be distinguished from other EAs' positions on the same account. If running alongside other systems, make sure they're trading different symbols or that combined position sizing and margin usage stay within your account's risk tolerance, since MetaTrader itself won't prevent two EAs from both trading XAUUSD simultaneously.

Terms depend on where the purchase happens, since direct sales from the vendor and marketplace transactions operate under different rules. Reseller platforms commonly offer a money-back window measured in days, while direct purchases often carry no return option once the files have been delivered, given that software cannot meaningfully be handed back. Confirm this with your chosen channel before paying, because at this price point the answer materially changes how much demo testing you should complete first.

Activation limits determine whether a single purchase covers your personal account, a demo for testing, and a challenge account simultaneously, or whether each consumes a separate slot. Changing brokers or opening a fresh account number typically uses another activation, so map out your intended setup before installing anywhere. Ask the vendor directly whether demo activations count against the total and whether slots can be reset when you migrate.

Historical testing on gold demands more care than most pairs, because XAUUSD spreads swing widely and tick data quality determines whether results mean anything at all. Run Strategy Tester with real tick data and every tick modeling rather than the faster approximations, then apply realistic spread and commission figures from your own broker. Bear in mind that Variable Values rescales distances against price level, so results from years when gold traded far lower will not translate directly.

Gold carries considerably heavier margin requirements than currency majors, and with up to nine strategies able to hold positions at once, several concurrent trades can consume more free margin than a small balance comfortably supports. Traders under ASIC, FCA or EU supervision face tighter retail caps on gold, meaning identical settings will constrain far sooner than they would offshore. Anyone starting near the $600 floor should verify margin headroom under a realistic multi-position scenario.

MetaTrader 5 accounts come in two configurations, and netting mode merges every position on a symbol into one net exposure. Since several internal strategies can hold gold trades concurrently, each with independent stops and targets, netting would collapse them into a single line and break the management logic entirely. Check your account type inside the terminal before funding, and request the correct configuration from your broker if yours defaults to netting.

Frequency depends on which strategies you activate and on gold's willingness to produce clean breakouts, so quiet stretches followed by clustered activity is normal rather than a fault. The recorded history offers a useful reference point, though your own configuration and the volatility regime during your period will shift the count in either direction. Auto mode adjusts selection according to balance and risk tolerance, which changes frequency alongside it.

One instance per account is the standard arrangement, and the configurable base magic number exists precisely so its trades stay distinguishable from anything else running. Splitting the internal strategies across separate charts is a different question, since lot sizing calculates from account balance and would then be computed independently by each instance, potentially doubling intended exposure. Anyone attempting this should test the combined position sizing carefully on demo first.