The SIAM EA Reviews 2024: is worth it?

Forex traders in the market for automated solutions can explore options like the SIAM EA, a system designed for Gold/XAUUSD H1 trading. While not currently available on MQLShop, this review evaluates its potential for inclusion, considering its features and user feedback.

Core Features of The SIAM EA

• Automated Trading on Gold/XAUUSD H1: Targeted for Gold trading, SIAM provides a hands-off approach, allowing traders to focus on strategy over manual operations.
• Risk-Averse Strategies: The EA’s absence of Grid, Martingale, AI, or Neural Network methods suggests a safer trading strategy.
• Profit Tracking and Recovery Model: It offers a fixed SL on each trade and a virtual profit tracking and recovery mechanism.

Technical Specifications of SIAM EA

• Optimized for XAUUSD H1 Raw/ECN: SIAM operates on a single chart, simplifying the trading process.
• Trading Hours: Programmed for peak market hours, it aims to exploit the most volatile trading periods.
• Security Features: Enhanced with hacking protection mechanisms, adding a layer of security.
• Advanced Algorithm: The algorithm focuses on capturing major Gold market movements using a Virtual Channel, ATR, and Recovery Strategy, all customizable for personal optimization.
• Broker and News Adaptability: Automatically adjusts to the broker’s GMT and includes a strong news filter to mitigate market news impact.
• Market Volatility Filter: This feature aims for precise market entry points.
• Virtual Profit Tracking: Helps in hiding trading patterns from brokers.

User Experiences

1. almheiri82: Commends the trading strategy and risk controls, recommends using a VPS for better performance, and suggests improvements in visualization.
2. Philippe Gerard De Paix De Coeur: Highlights its speed, reliability, and profitability, advising a strong VPS connection and a quick-executing broker for optimum results.
3. Adul Tanthuvanit: Notes its profitability in real-market conditions and appreciates the honest and clear description of the EA.

Recommendations and Considerations

• Broker Selection: Advisable to choose a broker with low spreads and swift execution.
• VPS Utilization: For consistent performance, using a VPS is recommended.
• Adaptive Lot Size and Leverage: While the EA adapts lot sizes, accounts with low leverage might face margin challenges.

Conclusion

The SIAM EA, available on the MQL5 market, offers a blend of sophisticated trading strategies and user-friendly features. Its focus on safety, coupled with effective profit tracking, makes it a compelling choice for traders, especially if they’re trading in the Gold market. With positive user feedback, SIAM EA could be a worthy investment for those looking to automate their trading strategies.