The Gold Reaper EA V3.5 MT5 — Simple, Prop-Firm-Friendly Gold Automation

Tired of bots that look smart on paper but blow up the moment gold spikes? The Gold Reaper EA V3.5 MT5 takes the opposite route: super simple inputs, no grid, no martingale, no “YOLO” logic, and a clean safety switch you actually control—your maximum allowed drawdown. You stick it on XAUUSD (Gold), set your risk guardrail, and the EA handles trade frequency and lot size automatically. That’s the whole vibe. No endless tweak-fest, no secret sauce you’re supposed to guess. Just let it work—then review, refine, scale.

What Is The Gold Reaper EA V3.5?

The Gold Reaper EA V3.5 (MT5) is an automated trading system built exclusively for XAUUSD. It’s designed to be plug-and-play: install, tell it the max drawdown you’re comfortable with, and it manages position size and cadence within that boundary. The strategy avoids the classic account killers—no grid, no martingale, no risky compounding—so your equity doesn’t hinge on luck or a perfect streak.

It’s also prop-firm friendly by design. Many funded accounts have strict daily/overall loss rules. With Gold Reaper, you set your drawdown cap upfront. The robot respects that line, so you’re not living on edge every time XAUUSD slams through support on a macro headline. Minimum balance? $300 is enough to start on conservative risk—demo first, of course.

Who Is It For?

  • Newer MT5 users who want a gold bot that’s easy to deploy.
  • Prop-firm traders who must abide by daily/overall loss limits (and actually want to keep the account!).
  • Busy traders who prefer “set guardrails → let it run” instead of micromanaging entries all day.
  • Risk-first folks who’d rather grow slow and steady than gamble with martingale logic.

If you love aggressive grids, huge baskets, or martingale “recovery,” this isn’t your lane. The Gold Reaper is built for controlled automation—not casino nights.

Key Features (At a Glance)

  • • Plug-and-play safety: Set your maximum allowed drawdown; the EA handles trade frequency & lot size automatically inside that boundary.
  • • No grid / No martingale: Zero risky pyramiding; no “double-down” sequences.
  • • XAUUSD-only focus: Crafted for Gold behavior (volatility, sessions, liquidity pockets).
  • • Good historical robustness: Designed for full XAUUSD history testing instead of cherry-picked months.
  • • Prop-firm friendly: Hard risk guardrails to respect daily/overall loss rules.
  • • Hands-off lot sizing: Position size adapts to your risk cap; no need to babysit.
  • • Clean execution: Avoids overtrading in chop; seeks structured impulses.
  • • Human-readable inputs: Minimal settings; you won’t need a manual the size of a phone book.
  • • MT5 native: Optimized for MetaTrader 5 environment.
  • • Minimum account balance: $300 (start small; scale with confidence, not hope).

How It Works (Plain English)

  1. You define the red line: Pick a maximum drawdown you’re willing to accept (e.g., 5%–10% overall).
  2. The EA self-regulates: Within that cap, Gold Reaper tunes lot size and trade frequency so it doesn’t over-risk when gold is wild.
  3. No stacking traps: There’s no grid and no martingale, so it won’t ladder you into a hole if price snaps back.
  4. Protect first, profit second: If volatility spikes, trade intensity dials down; if conditions stabilize, it ramps up within your safety band.

You’re basically telling the EA, “This is the max pain I’ll tolerate—don’t cross it.” The engine respects that and does the boring math to keep you on the rails.

Setup & Installation (MT5)

  1. Download the The Gold Reaper EA V3.5 file.
  2. Open MetaTrader 5 → File → Open Data Folder.
  3. Go to MQL5 → Experts and paste the EA file.
  4. Restart MT5. In Navigator → Experts, drag The Gold Reaper V3.5 onto an XAUUSD chart.
  5. Choose a liquid timeframe (M5–M15 for more activity, M30–H1 for calmer flow).
  6. In Inputs:
  7. Set Max Allowed Drawdown (overall cap).
  8. Confirm Auto Lot & Frequency are enabled (default).
  9. Keep other defaults if you’re new; adjust later once you have data.
  10. Click AutoTrading and confirm algo trading is allowed by your broker.
  11. Forward test on demo for 2–4 weeks before going live. Always.

Recommended Starting Parameters

  • Account Type: Standard/RAW with tight spreads on XAUUSD.
  • Balance: $300+ (start lean, scale later).
  • Timeframe: M15 (balanced) or H1 (calmer).
  • Max Allowed Drawdown: 6%–10% overall to start (adjust per comfort).
  • Trading Hours: Prefer London/NY sessions; skip dead liquidity.
  • VPS: Strongly recommended for stable connectivity and low latency.
  • News Handling: If your broker widens spreads on NFP/CPI/FOMC, consider pausing manually 15–30 minutes around releases.

Backtesting & Forward Testing Notes

Backtests:
Run multi-year tests on XAUUSD (e.g., 2018–2025) with realistic spreads/commissions. Focus on equity curve smoothness, max DD vs. your cap, and how the bot behaved in stress regimes (COVID shock, war headlines, CPI shocks). You should see the engine adjust trade intensity rather than firehose orders into chaos.

Forward tests:
A 2–4 week demo forward gives you broker-specific reality: spreads, slippage, swap, execution quirks. Once you see the bot respecting your drawdown cap and keeping behavior steady, start small live (0.5x risk), then scale stepwise.

Prop-Firm Tips (Pass Without Panic)

  • Map your firm’s rules (daily loss, overall loss, trailing drawdown) to a tighter EA drawdown cap so you never get close to violation.
  • Trade only prime hours for gold (London/NY overlap) to reduce slippage risk.
  • Respect red news: pausing around CPI/NFP/FOMC can be the difference between pass and reset.
  • Stop after a hit: If you clip 40–60% of your daily limit, stop trading for the day. Gold can invite tilt; don’t take the bait.
  • Journal quickly: Note spreads, slippage, and anything weird. Tiny tweaks (like skipping Asia session) can improve consistency.

Best Practices & Common Pitfalls

  • Don’t jack up the cap after a losing day; that’s emotion, not a plan.
  • Keep expectations sane. Gold trends beautifully… and whipsaws brutally. The bot protects you from the latter, not all of it.
  • Brokers matter. If your XAUUSD spread explodes randomly, change brokers or account types.
  • One chart, one job. Don’t run multiple copies fighting each other.
  • Update thoughtfully. If a new version drops, test on demo first—never switch mid-challenge without proof.

Why This EA Over Another “Gold Wonder”?

Because it respects the line you draw. Plenty of robots can print in quiet markets, then nuke you on the first vertical move. The Gold Reaper’s core is risk governance: the drawdown cap throttles behavior, and the no-grid/no-martingale stance prevents spiral-of-doom trade stacking. You get a clean, explainable process you can actually present to a prop-firm reviewer with a straight face.

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