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Golden Pickaxe EA Review

Past performance is not an indication of future results.

The Golden Pickaxe EA is one of the best gold trading robots with many years of verified results on multiple real trading accounts showing excellent performance.

Golden Pickaxe EA Review


The Golden Pickaxe EA is a fully automated system for trading Gold (XAUUSD) in the MetaTrader 4/5 platforms. This is a proven and powerful gold trading robot from skilled programmer Valeriia Mishchenko who has some of the best trading robots in the industry. She is ranked amongst the top developers in the MQL marketplace, the number one source for expert advisors. Valeriia has been developing algo-trading systems for over 10 years, with some of them reaching +6300% account growth with over +62 consecutive months in profit, all of which live track records are available on my verified Myfxbook profile as well as on the live signals of my MQL market profile. You can download the Golden Pickaxe EA from the Valery Trading website or from the MQL marketplace which is available directly in your MetaTrader platform.

  • Fully automated Gold EA
  • Proven track record of verified results
  • High quality multi-currency back tests
  • Combination of market analysis
  • Includes 5 different set files
  • Fully customisable settings
  • Both MT4/MT5 platforms
  • Runs on any forex broker
  • Free updates and VPS
  • Excellent 24/7 developer support
  • Setup instruction manual and videos
  • Money back guarantee
  • Free trial
  • Grid trading strategy not for everyone
  • Expensive compared to other trading robots

Golden Pickaxe EA Review


The Golden Pickaxe EA has a built-in trading algorithm developed for trading gold (XAUUSD). XAUUSD is the abbreviation for the exchange rate of the US dollar to the gold price. The “XAU” in the symbol denotes “gold,” while the “USD” indicates that the contract’s currency is the US dollar. The contract’s price is quoted in US dollars per troy ounce and it represents 100 troy ounces of gold. XAUUSD is a popular market for investors to trade gold and get exposure to the metal’s price.

Golden Pickaxe EA Real Verified Results
Golden Pickaxe EA Real Verified Results

The Golden Pickaxe expert advisor uses a grid trading system. It applies a similar logic to another very popular and top performing trading robot from the same developer, the Waka Waka EA.  According to the developer, the Golden Pickaxe robot performs even better than Waka Waka which takes some doing when you consider that EA had been in profit for more than +58 consecutive months and achieved an account growth of +6300% on a live account, in 4.5 years.

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Grid trading is a style of algorithmic trading that automates order execution by utilizing grid trading bots. To create a grid of orders that covers a range of potential market movements, this method entails placing numerous orders at incremental price levels above and below the present market price. The principle behind a successful grid trading strategy with the trend is that if the market price consistently moves in one direction, your position to capitalize on it gets larger. As the price rises, the grid triggers more buy orders causing your position to grow.

All automated trading strategies have risks, and even though grid trading is considered by some to be one of the low-risk strategies as trades can cancel each other out, you need to know the potential risk while using a grid trading robot like this one. If the price goes against open orders and never comes back, the drawdowns can be quite significant. If you over leverage your account and use position sizes that are too large, this can create a margin call if you are not careful. However, the Golden Pickaxe EA does have customisable settings and features to try and prevent this from happening.

How Does It Work?

  1. Buy a license for the Golden Pickaxe EA
  2. Download the MetaTrader files and instructions
  3. Install the expert advisor on your MT4/MT5 platform
  4. Place the Golden Pickaxe EA on the XAUUSD chart for auto trading
  5. Check the performance!
Golden Pickaxe EA MetaTrader
Golden Pickaxe EA MetaTrader

Golden Pickaxe EA Review


The Golden Pickaxe EA has a plethora of features designed to exploit market inefficiencies. It uses real market mechanics that have been optimized to achieve stable and consistent profits over the long term. The majority of features can be customised via external EA inputs, or you can simply use the defaults that the developer has already spent countless hours testing and optimising for the XAUUSD. This means that it can be used out of the box which is great for beginners, whereas the more seasoned traders are free to experiment with the various settings as much as they like.

Golden Pickaxe EA Features
Golden Pickaxe EA Features

Key Features

  • Allows you to retrain Neural Network on your broker’s data
  • Advanced News and Stock Market Crash Filter
  • Flexible customization with a lot of filters and options
  • Solid backtest and live performance
  • Statistic Panel with Self Diagnostic System and Neural Network Forecast indicator
  • Very easy to use: just read 2 lines of instructions below

Money management

Golden Pickaxe comes with 5 different built-in risk settings for any risk appetite. This is important because will all have different opinion on risk so you can adjust according to what you feel the most comfortable with. The higher the risk setting, the greater the potential rewards. However, this does of course mean that the risk is also increased.

Profit calculator

There is a handy profit calculator on the Golden Pickaxe expert advisor website. The calculations are based on the ‘Risky Vol’ trading set which is included in the download files of the EA. This can give you a very rough idea of profit potential but you must keep in mind that these results are based on historical data from backtesting, therefore they will not be an accurate indication of what might happen in the future.

Golden Pickaxe EA Profit Calculator
Golden Pickaxe EA Profit Calculator

Frequent updates

The financial markets including gold and the USD, are constantly changing. It is therefore important that EA developers are always working on ways in which they can improve trading software to adapt and stay relevant to the current market conditions. Thankfully, Valery Trading are always working on updating the Golden Pickaxe EA to help make sure it has the best chance of remaining profitable throughout carious market scenarios.

Broker and platforms

The Golden Pickaxe robot is not dependant on using a certain broker like some other trading robots are. You can use any trading broker provided they have the XAUUSD instrument and the MetaTrader platforms. That being said, the lower the broker spreads, fees and slippage, the more you can save on trading costs in the long run. ECN execution can also help ensure you get trades placed at the most favourable prices at all times.

It doesn’t matter whether you choose the MT4 or MT5 platform. Whilst MT4 is still very popular amongst retails traders around the world, MT5 does have better backtesting capabilities if that is something you wish to explore.

Preset files

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The Golden Pickaxe expert advisor comes with several trading sets, with 5 different risk management settings, for different types of trader. The developer has taken a lot of time to fine tune the EA so that you don’t have to. You can simply attach it to your XAUUSD chart in MT4 or MT5 and choose your desired position size.

Dedicated support

Valery Trading are well-known for not just providing some of the best expert advisors that are commercially available, but also for industry leading 24/7 customer support. There is also an exclusive Telegram Group community, filled with thousands of active expert traders and Golden Pickaxe users, sharing ideas and learning from each other.

If you need help getting setup, the personal support goes as far as remote configuration via AnyDesk. There are instructions and easy to follow installation videos provided with the Golden Pickaxe EA download, but this can be very helpful for those of you who are not confident about getting things setup by yourself.

Free bonuses

You will be pleased to hear that the Golden Pickaxe robot comes with some free bonuses. This includes a handy volatility filter indicator and 6 months of the Valery Trading VPS. This can save quite a bit of money given the monthly cost of a forex VPS.

Pass FTMO challenges

You can use the Golden Pickaxe EA to pass the FTMO challenge or other prop firm challenges. Just make sure that you check the trading challenge conditions and see if you need to adjust some of the EA settings to ensure that you stay within the trading rules and can achieve the profit objectives within the allocated timeframe. You will also need to confirm that the prop firm does allow automated trading with expert advisors, although the majority do, including FTMO.

Golden Pickaxe EA Review


The Golden Pickaxe EA come with 5 preset files that have already been optimised by the developer. You just need to choose and load your desired set file from the provided downloads and all of the EA inputs will be updated for you. You can see a comprehensive list of the input settings that can be adjusted below.

Golden Pickaxe EA Live Signal
Golden Pickaxe EA Live Signal

MM & Risk settings

  • Allow Opening a new Grid – on/off opening of new grids. It does not affect the already open grids
  • Lot-sizing Method- select the lot sizing method according to the risk you want to take: Fixed Lots will use fixed lot size from the “Fixed lot” parameter, Dynamic Lots will use ‘Dynamic Lot’ parameter, Deposit load will calculate lots based on deposit load%, and 4 predefined presets will calculate risk automatically for you
  • Fixed Lot- fixed trading lot for the initial trade.
  • Dynamic Lot (Balance/Equity based)- balance/equity to be used per 0.01 lot
  • Deposit Load % – % of the deposit that will be totally used to open the initial trade


  • Percentage Pips Mode – on/off percentage pips mode. 1 per. pip = 0.0001 * Curr. Price
  • Price Channel Period – period of Donchian channels used to calculate the upper/lower levels
  • Price Channel Time Frame – working TF for the Donchian channels
  • Daily EMA Period – period of the daily EMA for calculating the medium-term trend
  • Volatility Filter – allows you to avoid risky trades during periods of high volatility

Machine Learning

  • Enable Neural Network Filter – on/off filtering of trades using ML technology
  • Use Built-in Perceptron Configuration – if true, the EA will use built-in Perceptron config. If false, the EA will load the custom config file Perceptron_Config.txt located in the common directory for all MT4/5 terminals
  • Min Probability of Profit % – min. predicted probability that a trade will result in profit

Perceptron Training

  • Perceptron Training Mode – if true, the EA will try to train Perceptron and save results in the external config file Perceptron_Config.txt
  • Dataset Max Size – maximum dataset size for raw data
  • Neuron in Hidden Layer – number of neurons in the hidden layer. If zero, then no hidden layer will be used
  • Training Algo – training algorithm: Levenberg–Marquardt or L-BFGS
  • Number of Restarts – max. number of restarts to find global optimum

Grid settings

  • Trade Distance – min. step in pips between grid trades
  • 2nd Trade Multiplier- multiplier for the 2nd trade
  • 3rd-5th Trade Multiplier- multiplier for the 3rd-5th trades
  • 6th- Trade Multiplier- multiplier for the 6th-…. trades
  • Maximum Trades- max number of grid trades


  • Trade Comment- comment for orders
  • UID (0…9)- unique EA instance number. Usually no need to change it

Golden Pickaxe EA Review


When choosing a trading robot, one of the most important things to do is to check the latest results and see how it has been performing historically. Whilst this is no guarantee of future performance, it can help to give us a rough idea of the trading system being used.

Golden Pickaxe Myfxbook

There are multiple verified Golden Pickaxe EA Myfxbook accounts showing how this automated gold trading system has been performing over the years. At the moment, things are looking very impressive in terms of the overall gain. The drawdown is perhaps slightly high for some users, but the risk size can always be adjusted to lower it. As mentioned earlier, the EA does come with different set files which you can choose from depending on your risk preference.

Golden Pickaxe Backtesting

The Golden Pickaxe EA has been intensively back-tested over 20 years of Dukascopy real tick data with consistent top-notch results. These are the best possible trading conditions as they use reliable historical data with real variable spreads and include commissions. Whilst backtests can give as a good idea on the trading strategy used by the EA, they are by no means any guarantee of future performance.

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You can see from the above Golden Pickaxe EA backtest that there were 5,503 trades in around 17 years on the XAUUSD. The profit is very impressive whilst the drawdown is acceptable. The history quality is 100% which means these are as accurate as backtesting results can get.

Above you will see the Golden Pickaxe EA backtest this time using the risk set file. It ran over the same data set with 100% quality and for 17 years. The main difference here is that there were almost twice as many trades placed, with 10,112 in total. The overall profit is higher but so is the drawdown which is to be expected when using the riskier settings.

Golden Pickaxe EA Review


Overall, the Golden Pickaxe EA is a top performing automates gold trading robot. It uses an innovative grid trading system with dynamic money management. There are many years of proven results across multiple trading accounts that have been verified by a reputable third-party in Myfxbook. The long-term backtests are also of top quality and show the sustainability of the implemented trading algorithm throughout different market conditions. This is backed by excellent 24/7 personal support from the developer. Valery Trading have other top performing trading robots that you might want to check out including the Waka Waka EA, Perceptrader AI EA, Night Hunter Pro EA and the Evening Scalper Pro EA.

8.3Expert Score
Golden Pickaxe EA Rating

The Golden Pickaxe EA is one of the best gold trading robots with many years of verified results on multiple real trading accounts showing excellent performance.


Golden Pickaxe EA Review


What is the Golden Pickaxe EA price?

Just like Valery Trading’s other expert advisors, the Golden Pickaxe EA is not cheap. It costs $1,850 although you can get it on discount for $1,665. This is more expensive than most EA’s, but sometimes you get what you pay for.

Where can I download the Golden Pickaxe EA?

You can download the Golden Pickaxe EA from the official website here.

What kind of customer support does Golden Pickaxe EA offer?

Valery Trading provide excellent 24/7 support via email and Telegram. They can even connect remotely to your computer to help you get setup or do the setup for you on a VPS.

What are the best brokers to use with the Golden Pickaxe EA?

You can use any MetaTrader broker to run the Golden Pickaxe EA.

What’s the minimum amount required to trade with the Golden Pickaxe EA?

There is no specified minimum amount required to start using this trading software. You should only use what you feel comfortable with and can afford to lose.

What is the Golden Pickaxe EA refund policy?

If you are unhappy with the software for any reason, there is a 30-day refund policy when bought from the official website, compared to a 7-day policy when purchase via MQL.

Is the Golden Pickaxe EA a scam?

No, Golden Pickaxe EA is not a scam but that does not mean it will produce good results. No matter how good any trading robot is, none can predict the future.

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Can I get the Golden Pickaxe EA for free?

You probably could spend countless hours looking for a free version of the Golden Pickaxe EA being shared but it is likely to be out of date, unsupported and potentially dangerous.

What currency pairs does the Golden Pickaxe EA trade?

The Golden Pickaxe EA is a gold trading robot developed to trade XAUUSD.

What are the best Golden Pickaxe EA settings?

The best settings for the Golden Pickaxe EA are those provided by the developer. Nobody will know the robot more than the person who created it. They would have spent countless hours over many years optimising the settings so that you don’t have to.

Can I change the Golden Pickaxe EA settings?

If you have the knowledge and experience, you are free to experiment with your own settings, this includes the lot size, stop loss, take profit, and more. You may wish to test your settings on a demo account to begin with. You could also backtest the robot in the MetaTrader strategy tester with your own combination of settings to get a rough idea of historical performance.

What do I need to run the Golden Pickaxe EA?

You will need either the MetaTrader 4 or MetaTrader 5 desktop platforms and an account with a forex broker. Most forex brokers will let you open an account with a small deposit and download the MetaTrader platforms free of charge.

How much money can I make with the Golden Pickaxe EA?

There are absolutely no guarantees on how good or bad any trading robot will perform. Due to the unpredictable nature of the markets, nobody can predict what will happen in the future. You should make sure that you understand all of the risks involved using any automated trading system such as the Golden Pickaxe EA.

Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.

Golden Pickaxe EA Review
Golden Pickaxe EA Review
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