SelectFX.com - AMCL robot review - TECHNICAL PROBLEMS

[PipCop]

From http://www.selectfx.net/a_mcl_eurjpy_100.htm comes our latest parolee, the AMCL. It is running on Mig Trading Station on the EURJPY 5 minute chart, with all default settings.

The author describes it as:

System:
Unconventional indicator based trend -following Expert Advisor
Uses many signals & filters to confirm a trade
Is moderately ambitious so some attention needed to setting trading hours to match the European session
Trades signals on the M5 chart and uses techniques to get in early (but not too early) on the moves
Lot size boosting when going with underlying trend increases Profit
Profit maximised by three groups of orders, to enable you to trade like you are there 24/7:-
- Short range - in and out fast for a small gain
- Medium range - to be set based on current volatility
- Longer range - to capture as much of the move as possible
Simple & fast to back-test & optimize


Strengths:

Extremely effective in volatile markets - goes after sudden trend starts & grabs reversals
Profit factor medium (1.3 – 1.75) depending on prevailing market conditions & TradeMode selected
Profit potential high, due to high win %
True entry & exit points are concealed from broker , while always having a SL , TS & TP in case of lost connection
Will follow sudden reversals
Has many options to cater for changing market patterns & risk appetite of the user


All TradeModes can simply be tuned by the user to be more or less ambitious


Weaknesses:

Relatively small numbers of losing trades but short -term losses in extremely pitchy ranging markets (aka 'whipsaw' conditions) can be expected

And here is our data:

FireFox users warning:
Statements are sometimes cached by your browser!
Click the blue statement link (above this window) to update it!

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

amcl

[PipCop]

Well, it's active, that's for sure ... it just needs to reverse all of it's trades and it would be really profitable!

[ElectricSavant]

Yeah his other system was better...This one is going to get busted real fast, if these lotsizes continue...

Originally Posted by PipCop

Well, it's active, that's for sure ... it just needs to reverse all of it's trades and it would be really profitable!

[PipCop]

He emailed me and let me know it's not set up right for a $5k account, so we're going to redo this one.

[ElectricSavant]

you will need an IBFX mini account with this volatility ...or more start capital...

ES

[PipCop]

We're going to restart this one as the settings were incorrect for the account size.

[PipCop]

The status for this one has been updated as it has gone below the $5000 starting balance. Once it comes back up over $5000 for 60 days the status will be updated.

[PipCop]

Due to some reported issues with the brokerage, I am pulling this test. The author is having far better results on a live account. Once live accounts are setup here at PipCop I'll put this EA on one and we can test it there.