Universum TP 105 / SL 100 robot review - BUSTED! -$3,303

[PipCop]

2008-09-16 Update: This EA had a disastrous losing streak, but is still running with a small modification I made - after 3 losing bids it resets to 0 losses, and the starts over with 1 lot (instead of x2 or x4 lots).

Here are the live results for the Universum EA. As of May 12th, 2008, I am more impressed by this EA than any other. It has in one move potentially made far more than all the other EA’s combined, however Martingale has a VERY HIGH RISK design and can potentially wipe out the entire account in just a few bad trades..

The Universum EA can be downloaded from here: http://codebase.mql4.com/en/3343

Universum uses a Martingale system. Please also read this anti-martingale and position sizing article.

This is attached to a 1-hour EURUSD chart. Anyway, on to the data:

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Should I buy/use this EA on a live account? - Government Required disclaimer - Earnings disclaimer

xp4

XP4

[PipCop]

Update: This EA gets a 2-star rating because you could potentially withdraw funds as they were won to prevent passive losses.

I wouldn't count on it though!

[PipCop]

I've modified this EA to see if it can work better with the following settings:

LossLimit: 4

Here's the new code (attached.)

[PipCop]

Here are the results from last month, 2008-09:


<iframe src="http://www.pipcop.com/mt/xp4/2008-09-30-statement.htm" scrolling="auto" width="900" frameborder="1" height="1800"></iframe>

[PipCop]

Even with my changes, this account could not withstand a 3-in-a-row losing streak.

2008.10.03 16:44:42 '37109': order sell 7.90 EURUSD opening at 1.3770 sl : 1.3872 tp : 1.3667 failed [Not enough money]

This EA has run out of money, so it's been BUSTED BY THE PIPCOP!