JBs.Crossing robot review - Busted! -$3059

[PipCop]

Via email from Jerry Batcheler, comes his latest creation. His description of this EA is as follows:

Using an advanced indicator (confidential) and optimizing how the crossings approach each other along with SL & TP . Back-tests done after 2-month optimization periods done weekly along with demo-ing show excellent performance. Stops are usually in range of 120-pips, but the indicator can often close trades out before hitting that. Currently using EURUSD on 15Min periodicities.

UPDATE 12-19-2008 - Jerry has provided a new settings file, attached to this post.

Please also note the MQL4 version of the indicator is one that *I* found, and may NOT be the same as the compiled version which is also attached, and is referenced in the code for this EA.

UPDATE 12-08-2008 - Restarted on IBFX and a new settings file attached.

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

jbs

XP10

[PipCop]

Please note this one is missing an indicator , and I am waiting on Jerry to provide that to me so we can begin the review.

[PipCop]

Thread icon updated as it has gone below the starting balance.

[Killer-B]

Ouch - Not looking very good

[PipCop]

Agreed. He provided an updated settings file yesterday, so perhaps it will turn around.

However, it just goes to show - designing robots is not as easy as we would like to think it is. If it were, we'd all be rich!

[Batchboy]

Yea, bummer, but any time I see an EA running, worse case often comes up faster than not. This over 2 months back-test optimization should do 170% increase in equity in 2 months, varying of course over real time due to market variances. I've even run 2 month back-test before 1-week-out-of-sample just before current dates, and most often the week does quite well. After the fact I noticed that relative DD's when figured against starting balance could be up to 40% worst case, and like I say, here she be!
I'm to understand Pipcop is not too keen on back-tester of MT4 due to no tick data unless one were to invest in such. Well, the stops/TPs on this are mostly "out there" in neighborhood of over a hundred pips, such need of ticks to avoid ambiguity is more for small SL 's like 10-30pips, only slight effect should be seen for larger SLs/TPs, AND the decision points to open a trade (and sometimes close) are at close of 15Min bars, so here again, no need.
So naturally I can't promise hope here due to other possible factors, I did as much testing as possible to see how to do this.
Wish there were magical hope otherwise, but I'm not an EA magician.
Truly,
jerry

[Batchboy]

James,
I just saw something in a manual for a different EA that Alpari charts DO have different times on bars in relation to GMT, therefore my set-up is wrong on pipcop, we might as well tear down this thread and EA operation.
I will continue week by week operation of this EA by myself and if/when its "good to go" for pipcop (as Schwarzenegger says "I'll be back". Watch out for Terminator-EA pipcop!)
(I post this on pipcop)
jerry
PS: I originally requested IBFX.

[PipCop]

One thing I have noticed about this robot is that you have the TP set to 170 pips. That's HUGE. Most of the trades I see it making are right, but then after they sit for a while the trend reverses and you take a huge loss. If I were you, I would change this to have a TP of about 50 pips, maybe 75 tops. 170? Man, that's unbelievable if you could hit 170.

For example, right now there is an open trade:

sell 0.33 eurusd
Price 1.2814
SL 1.2935
TP 1.2645
Price 1.2740
Profit $244.20

If you were to TP right now ... you'd have $240+. I bet this one turns around and is a loser. Why do that? Do you really expect the price to fall another 100 pips?

I'm just sayin' ... that's all....

[PipCop]

See? Now the EUR is up again, so the profits are slipping away ...

sell 0.33 eurusd
Price 1.2814
SL 1.2935
TP 1.2645
Price 1.2758
Swap -2.18
Profit $184.80

[PipCop]

Oh, and as far as restarting it, just let me know. I'm happy to keep this up for a week or so if you think you can turn it around that quickly, otherwise I will give up the VM to another robot to test. At that time you'll have to wait until another VM comes free to start testing again...