E-BOT BARS ADVISOR – quiet growth, but low efficiency!
Greetings, dear visitors to the practical section on expert tests. Today, according to the old tradition, we will talk about the result of working on the demo account of the E-BOT BARS expert.
During the review, the advisor showed itself to be good because it worked using a candlestick combination, the essence of which is that the expert opens a buy order if the previous candle closed below the current one.
There are many strategies for this candlestick combination; one of the most popular is the breakdown of the previous day. The author took the principle of breaking through a daily candle and adapted it in the form of an advisor on small time frames.
Therefore, the Expert Advisor very quickly took root among traders and is very popular. I would like to remind you that we previously reviewed the advisor, where we described all the settings in detail, so you can read and download the advisor from the link . You can also familiarize yourself with the preliminary test that we conducted in the strategy tester in the picture below.
Based on flattering reviews and a good result of preliminary testing of the expert in the strategy tester, we decided to carry out the baptism of fire of the adviser on real market conditions. For this purpose, a demo account of $10,000 was opened, which is equivalent to $100 on a cent account.
In order to provide real testing conditions and ensure the expert’s work around the clock, it was decided to install it on a VPS server. Therefore, there is no doubt about the quality of testing of the advisor.
Testing of the advisor began on August 31, 2015 and continued until September 14, 2015. The expert worked on the euro/dollar currency pair on a five-minute chart. All settings were left at default, only the trading lot was changed to 0.1. You can see the result of testing E-BOT BARS in the picture below.
And now about the results of the work. In 17 days of work, the expert closed only 19 transactions and brought in 2.7 percent profit. If we talk about the drawdown, it did not even reach the threshold of half a percent, which is a very good indicator. The profit factor, which is 5.73, also tells us about the profitability of the advisor. E-BOT BARS closed 78 percent of trades in profit and only 22 percent were unprofitable. It’s also encouraging that the advisor closed four orders in a row with profit.
In conclusion, I would like to say that despite the expert’s confident passage of all market conditions, the profitability indicator is too low. As you know, the expert is based on martingale, so 4 percent per month is too small, considering that in a protracted trend you can lose everything. Therefore, I do not recommend taking this expert as your main one and trusting it with large capital.