Forex Advisor Nostradamus
The Nostradamus trading expert is one of the most popular scalpers used to this day. This expert is surrounded
by many myths and misconceptions. Many, seeing the name, indiscriminately place bets on the expert, thinking it possesses the same abilities as Nostradamus himself.
I also encountered a lot of lies and hypocrisy on other Forex websites, where they relentlessly praise it and recommend using it immediately on a real account. Some people even go so far as to compare this expert advisor to Ilan, claiming the latter is much worse, while this one is incredibly profitable. This mountain of facts compelled me to conduct a detailed analysis of this expert advisor, and I'll tell you the inside story right from the start: it's not as good as everyone sings about it.
This expert advisor is a scalper designed for trading the EUR/USD currency pair on a five-minute time frame. The strategy consists of the advisor opening a series of orders (10 by default) at a specified interval when entering a position, thus forming a basket of orders in an attempt to squeeze the market as much as possible.
Before testing the expert advisor, you should install it in the Meta Trader 4 trading terminal. To do this, after reading this article, download the archive with the expert advisor at the end. Next, in the running terminal, go to the File tab and open the data folder. Place the expert advisor in the "expert" folder and restart the trading terminal. After launching, go to the list of advisors and drag the expert advisor named Nostradamus to the EUR/USD currency pair screen.
The expert advisor's developers weren't very forthcoming, so you can't change the entry algorithm in the settings, only adjust some of the capital management nuances.
Setting up the Nostradamus advisor.
In the TakeProfit line, you can set the profit for each order opened by the EA. In the StopLoss line, you can set a stop loss for each order opened by the EA. The MagicNumber function is designed to prevent the EA from losing its own orders and from touching those you've opened manually.
In the PipStep line, you can set the distance between consecutive orders opened by the EA. In the MaxOrders line, you can change the maximum number of orders the EA can open simultaneously. In the TrailingStop line, you can change the trailing stop in points. You can also enable automatic lot calculation in the UseRiskPercent line.
Now let's begin debunking the myths. We'll conduct our first test on the EUR/USD currency pair on a five-minute time frame. The test period was from January 1, 2015, to May 28, 2015. The test result with default settings is shown in the image below:
As you can see, the Nostradamus EA, with its popular settings, is purposefully destroying the deposit. I'll go further, if you were tasked with destroying an account, you'd never have succeeded so beautifully. I decided to optimize the key parameters, optimizing almost all of them. I chose the optimization period from June 1, 2014, to January 1, 2015. Then, I selected acceptable settings and ran a forward test from January 1, 2015, to May 28, 2015. The result of the parameter optimization is shown in the image below:
As you can see in the chart above, even after full optimization, the EA clearly doesn't deliver consistent profits. In my opinion, the EA clearly doesn't deserve the accolades it receives. First and foremost, I see strong instability. Of course, this is a typical scalper that requires monthly parameter optimization. For those who decide to use it, I recommend testing it on a cent account to unlock its true potential. Don't expect astronomical profits from the robot, but overall, the EA has a right to exist. You can use the Nostradamus EA for free on Amarkets broker accounts . Thank you for your attention, and good luck!
Download the Nostradamus EA.
