EA Thomas is a gold trading expert advisor that works on the MT4 or MT5 platform. It is only compatible with Windows operating systems. The developer presents viewers with the system’s detailed setup guide and claims that this product can work with a maximum spread of 30 pips. We will review this bot below to delve deeper into the performance and various features of this item to help traders with their decision-making.
EA Thomas: to trust or not to trust?
EA Thomas is not very clear regarding the operating techniques and strategy. Also, there is no detailed statement available for the backtesting records. This raises some suspicions about the transparency of this developer.
Features
The robot has the following features:
- It can analyze 5 entry points.
- The system requires a minimum balance of 500 USD.
- It comes in two performance modes.
- The robot can handle slippage up to 5 points.
To get the service up and running, you need to follow the following steps:
- Purchase the robot from the MQL5 and download it on your laptop
- Open the MT4 or MT5 on your desktop
- Drag the EA files and attach them to the charting section
- Press the start button. Enable automatic trading
The developer states that the robot analyzes 5 different time frames and then selects an entry depending on the risk appetite. Traders can select the strategies they wish to implement within the settings of the EA.
From the MQL 5 records, we observe the use of martingale with a lot multiplier of 1.5X for every new position. All the trades open at the end of the hourly candle and generally close using the same.
Price
This EA is sold for 199 USD. Payments are accepted through PayPal, Visa, MasterCard, Union Pay, and Web Money. No information is provided about the availability of a money-back guarantee. Moreover, customer care seems shaky, as the vendors fail to write about 24/7 customer care.
Trading results
Backtests are available from 2019.01.02 till 2022.03.18 for the XAUUSD (Gold Spot) currency pair at the 5-minute timeframe. 80530906 ticks were modeled, using a modeling quality of 90%. An initial deposit of $100 was converted into a total net profit of $16565611.08. The spread value stood at 2 points.
The system showed a relative DD of 17.83% within 89682 trades at a profit factor of 1.41.
Live trading results are available from 2022.05.06. It was observed that the robot has a current total growth of 138.24%. Initial deposits of 100 USD were converted into a profit of 140.32 USD. The current equity is reported as 241.91 USD, whereas the balance is 241.91 USD.
These results show that the system has a high drawdown of 31%, which raises some concerns. The service encountered a maximum deposit load of 10.9%. Loss trades were equivalent to 13.3%, out of a total number of 309 trades.
High drawdown
The maximum drawdown from EA Thomas’s live results shows a value of 31%, which is very high and above a certain safety threshold. This points toward subpar performance, thus putting the reliability of this system in question.
Vendor transparency
Vitali Vasilenka is the developer behind EA Thomas. There is minimal information available about this person. The author has 25 products and 24 signals in the market. Their profile shows that they have an experience of 1 year and have held 1 job only with no credentials to verify this. Customers can reach them through a contact number or the live chat option on the MQL5 website.