10 Points 3 robot review - BUSTED! -$4,547 - Pip Cop

**PipCop** · 2008-11-07, 02:42 PM

From http://codebase.mql4.com/712 comes the 10 Points 3 EA which I am reviewing. This is running on the EURUSD 15 minute chart with all default settings.

The author says:

The Adviser 10 points 3 uses the histogram of the standard indicator Moving Average Convergence/Divergence, MACD. The Expert Adviser is adjusted on work on M15 tameframe.

Here is the data:

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

10points3

SE5

**PipCop** · 2008-11-07, 02:47 PM

I have attached the EA here.

**geekguy** · 2008-11-09, 11:55 PM

Quote:

Originally Posted by PipCop

I have attached the EA here.

So far so good, its making some consistent trades.

chuck8008 · 2008-11-10, 02:10 AM

Anyone know anything else about this ea?
I did a back test from the start of Sept to now and it went from 10k to 3k
Maybe I am not doing it right so that's why I wanted feedback from others.
I started running it on a demo and it's doing great so that's cool.
Hey Ryan !

Thanks all !
Charles

andylim · 2008-11-10, 03:46 AM

Can it work on micro account? I run it with a micro demo account, with a $500 initial deposit, and the EA busted it out in about 2 hours

Anyway, what's the proper settings to use with this EA to be profitable in mini/micro account?
Thks,
Andy

teamrecon · 2008-11-10, 06:34 AM

Hi all and welcome,

I have set this EA up with a lot size of 0.01 on an IBFx live account to see what happens (Edit : Gives error about ordersize not correct)

I have noticed that forward testing results can vary from demo & live accounts. I set an EA up called piplite on a demo account and my live mini account.

The demo account made dozens of loosing trades, the live account made two trades both over 170 pips on the same GBPUSD pair over the same time period !!

Neil

**PipCop** · 2008-11-10, 09:58 AM

Considering this EA has made so many profitable trades, but also has two losers right now that are set to wipe out nearly half of the profits, I would recommend no one test this on a live account. Let the review run for at LEAST 60-90 days before risking any of your money. That's the point

of PipCop - let's be patient and see what happens.

If you put this EA on a live account, then you're not really benefiting from PipCop doing a review, are you?

teamrecon · 2008-11-10, 10:11 AM

Quote:

Originally Posted by PipCop

Considering this EA has made so many profitable trades, but also has two losers right now that are set to wipe out nearly half of the profits, I would recommend no one test this on a live account. Let the review run for at LEAST 60-90 days before risking any of your money. That's the point

of PipCop - let's be patient and see what happens.

If you put this EA on a live account, then you're not really benefiting from PipCop doing a review, are you?

True words

What I was trying to get across is there seems to be a big difference running the EA's on a demo account & a live account. Perhaps the brokers cause the difference I don't know

I've already turned it off after seeing your running trades, so thanks

neil

**PipCop** · 2008-11-10, 10:31 AM

Yeah, there always seem to be discrepancies between a live and a demo account. If this EA handles itself well for at least 60 days on a demo account, I may put it on a live account. However, at this point

, there's no reason for me to do so as it seems poised to shoot itself in the foot.

I am torn, however, as it seems like some EAs may perform better on a live account instead of a demo account. If after a few months there is enough advertising revenue on the site I'll probably just put all the EAs on live accounts and see what happens.

For now ... well, maybe not.

Also, as far as this EA goes, you have to remember the TP

is 10 pips, and the SL

is 110. Therefore this EA has to make 11 good trades to balance out 1 bad trade. That's not a great money management

strategy... Just 1 bad trade can do some serious damage.

If this EA wipes itself out too quckly, I'll probably restart it with a smaller lot size.