CLEOPATRA – slowly but surely!

Greetings, dear visitors. Today I'd like to discuss the Cleopatra expert advisor, which we had high hopes for. As a reminder, this advisor is new this year and is based on two capital management principles: martingale and pyramid.

Both modes can be switched, but we chose to test in Martingale mode. The expert advisor operates using an indicator-based trading strategy, specifically a custom indicator installed with the expert advisor.

I previously wrote a very detailed and comprehensive review of the expert advisor in the "Forex Advisors" section, so you can find more detailed information on the settings and their optimization in the corresponding article http://time-forex.com/sovetniki/sov-kleopatra .

The expert advisor was preliminarily tested in the strategy tester, and it turned out to perform well. By the way, you can see the results of the preliminarily test in the strategy tester in the image below:
 

Based on the good testing results and numerous positive reviews on various Forex forums, we decided to test the expert advisor under real trading conditions. According to the author, a $100 deposit on a cent account is required for the expert advisor to function properly, so we opened a demo account with a deposit of $10,000, which met the requirements.

Since we're constantly selecting new products, our team rented a VPS server on which this robot was installed. This allowed the expert advisor to operate 24/7 without any outside intervention. The experiment began on July 15, 2015, and ended on July 31, 2015, meaning the expert advisor spent a full two weeks in the market. You can see the test results in the image below:

Comparing the preliminary report with the current one, you'll notice that the EA performs much better in real-world conditions than in the strategy tester. First, I'd like to highlight the profit, which over two weeks of operation amounted to 3 percent of the deposit, with the drawdown not even reaching half a percent, despite the fact that we were using a martingale with an initial lot size of 0.09. Also significant is the large number of orders, of which the EA closed a whopping 117 over two weeks.

Looking at the number of profitable positions, it turns out they account for only 52 percent, indicating a weakness in the strategy embedded in the expert advisor's algorithm. The profit margin is also not very high, at 2.29, similar to most simple averagers.

In conclusion, I can say that the expert advisor isn't the Holy Grail everyone is so eagerly seeking. However, despite its possibly weak entry system, you can customize the expert advisor as you wish (thankfully, there are many settings). The expert advisor is more suitable for conservative traders, as its monthly profit with default settings won't exceed 10-15 percent per month. Thank you for your attention, and happy trading!