First I’d like to make a statement:
I believe that if a robot producer sells a robot it should work in an almost out of the box setup and with any broker.
It should trade (buy and sell) all alone and make your account run into profit.
Otherwise what’s the use of it? You spend a bunch of time discussing tweaks and stops and losses and “what to do” and “what not to do” and the authors of the robots excuse themselves with the “market” and its “very hard conditions”.
You buy a robot, you set it up and it should trade to profit most of the times, and by the end of the month it must be, at least, positive.
What a hell!! It’s a robot and should be programmed to understand and react to the market signs in a way that we humans can’t (fast and emotionless). If it does not understand the signs or don’t know how to read them, then the seller is making money with a product that does not meet the expectations. If it doesn’t… then it’s a bad program that buys random orders based on weak signs and spends our money to the last drop making profits only to the broker and to the author.
It’s impossible to have a profit in all the trades but the robots should use their undivided attention to focus on that purpose. Otherwise they’re worthless… I mean… worthless to the person that buys them expecting some profit, because broker and author have their profit guaranteed.
I’ve been running this test for the last two months and I must tell you that things didn’t run the way I expected and today I STOPPED it because this morning [B]the 7 robots all together managed to make a LOSS of 48.94%[/B].
This is how they managed to reach the above value and what I think about them:
[B]MegaDroid [/B]gain is 6.06% with 23 trades. 22 gains and one single loss. If I had kept the risk of MegaDroid at 70% since the beginning of the test in all the trades my profit would be a bit over 100%.
MegaDroid makes money in any market condition and, when in doubt, it does nothing. Clever!
I’m going to keep MegaDroid running in full throttle, all alone in my account because it’s the only gainer.
Additionally MegaDroid was the cheapest robot. Go figure that.
Investment: $82
All the others that follow are now history for me.
[B]MillionDollarPips [/B]makes HUUUUUGE gains in demo but in real life is a loser. It lost 3.89% in 120 trades with 58 winners and 62 losers. It trades like hell but it’s very inconsistent. “It’s very broker sensitive” they say. Yeah! So am I.
Investment: $99
[B]MasterScalper [/B]is in fact a master of the scalping of the money of your account. In 2 months it made 236 trades where 166 were winners but it managed to lose 15.13%. Small gains, huge losses. I can’t live with that… My broker loves it so much that they offered me a very nice bottle of wine during Xmas.
Lots of discussion around this EA with tweak this, tweak that, stop this, start that… I want to make it run and come back at the end of the month and smile. That’s what I want from a robot but definitively not what I’ve got.
Investment: $145
[B]WallStreetForex [/B]can’t be beatten. It [B]is the PIPest LOOSER[/B] and managed to lose 28.46% with 118 trades with 85 winners. Very consistent during all the test: small gains, huge losses. It’s almost painful see it enter a few moves that clearly should have been open in the opposite direction and not be able to stop them by itself ant hitting a very, very far stop loss. The result is not worst because I’ve manually stopped a few orders avoiding further damage.
Investment: $150 (1/3 of the 3 license order)
[B]IrisFx [/B]managed to lose 5.15% in 106 trades where 93 were profits. Small gains, big losses (where have I seen this ?). When trading in small lots (0.1) it manages to get some profitable orders but when we raise the bet it’s loss after loss.
Investment: $99
[B]Forex Shocker 3.0[/B] didn’t manage to shock the forex but, at least, it shocked me. With all its promises I was expecting a lot but all I’ve got was a 3.3% loss with 53 trades where 41 were winners.
I’m repeating myself but what can I do… Small gains, big losses.
Super expensive. For that price much better and faster results were expected.
Investment: $299
[B]Fast Forex Millions[/B] recently upgraded to version 2.5 hadn’t been able to do much better then version 2.1. It loses less but is still losing in less than 2 weeks the amazing value of 10.04% with 59 trades where only 27 were gains.
I regret very much this investment. I’ve not decided in a cold and calm way as I usually try to do and I got what I deserved.
Investment: $247
Take your own conclusions but never forget that this test was run on a real account, under a fast VSA and following all the directions from the EAs authors.
Any other real account, in a different broker, a different VSA and a different time period would certainly have a different result. But not necessarily better… .
Total investment in the 7 robots: $1.022
And all I needed was MegaDroid… for only $82. Instead of having my account cut by half I would have it multiplied by two.
Lesson learned.
Additional note: I have absolutely nothing to do with MegaDroid and I’m just one of their clients.
