No Loss Robot
Overview
| EA Name | Homepage | Pair | Timeframe | Takeprofit | Stoploss | ECN | 5-Digits | Comments |
|---|---|---|---|---|---|---|---|---|
| No Loss Robot | Click Here! | any | MTF | dynamic | none | yes | automatic |
Forward Test (Demo)
Status: stopped (not profitable)
Last update: 2010 January 20, 20:02 (GMT)
| EA Name | Statement | Weekly Net P/L [Pips] | Weekly Profit | Weekly Trades | Winning Trades | Max/Min [Pips] | Closed P/L [Pips] | Open P/L [Pips] | Total Profit | Max. DD [%] | Weeks in Test |
|---|---|---|---|---|---|---|---|---|---|---|---|
| No Loss Robot | Statement | -296 | -4% | 14 | 100% | 150 / 15 | 1950 | -4378 | -27% | 0% | 8 |
Backtest
| EA Name | Statement | Period | Pair | Closed P/L [Pips] | Open P/L [Pips] | Trades | Winning Trades | Max/Min [Pips] | Max. DD [%] | Comment |
|---|---|---|---|---|---|---|---|---|---|---|
| No Loss Robot | Statement | 2008 | EURCHF | 1078 | -524 | 63 | 98% | 76 / -524 | 5% | |
| No Loss Robot | Statement | 2008 | EURUSD | 1239 | -1894 | 77 | 99% | 36 / -1894 | 17% | |
| No Loss Robot | Statement | 2008 | GBPUSD | 3160 | -20 | 178 | 99% | 76 / -20 | 0% | |
| No Loss Robot | Statement | 2007 | EURUSD | 1369 | -219 | 85 | 99% | 26 / -219 | 2% | |
| No Loss Robot | Statement | 2006 | EURUSD | 20 | -1379 | 2 | 50% | 20 / -1379 | 14% | |
Homepage / Vendor
The No Loss Robot is an enhanced version of Don Steinitz MTF HAS robot. Here some excerpts from the homepage:
You don’t need a small fortune to start trading with our No Loss Robot™! Our robot can trade any account size, from $100 to $30,000 and up.
Our robot is the only one out there that can claim it is a No Loss Robot™. It promises no losing trades on your Forex account, period. How do we do this? It isn’t simple but thankfully we’ve done the hard work for you.
Beside all these big claims they show forward test statements which looks nice.
Delivery
As owner of the No Loss Robot you get:
- the ForexRobotNoLoss EA (automatic installer packagE)
- some bonus material
The delivery is different compared to other products. Instead of a instruction and settings manual they provide video instructions on their homepage. This may be good for new users but very time consuming for experience people and not usable as a kind of reference especially for the settings.
Installation / License
The installation is simple and done quickly as there is an auto-installer. To go through the video instruction takes most of the time and is not very efficient.
The delivered version works on demo-accounts only. Before attaching the No Loss Robot to a live account you need to request a version with hardcoded account number built in through their customer support.
How does it work ?
The No Loss Robot is a multi time frame robot this means it uses information from charts in different timeframes to open trades. It uses a universal trading strategy which can be applied on almost every different currency pair.
The meaning of no loss is that the robot does not set a stoploss for any trade. It only closes positions if they are winners. By trading a very small lotsize and diversification on 10 pairs (as recommended) this may work out but the drawdown on a single position can be hughe. An indication of the drawdown we can see in the drop at the end of the backtest graphs. This is the end of the testing period when all open positions are closed by the strategy tester while in real trading they would have been kept open by the ea.
Settings / Money Management / Broker Requirements
The No Loss Robot has a lot of settings which apply the trading style and the money management. As there is no documentation delivered the settings are not described. In the installation video they talk about they may produce another video for that purpose.
The EA works with all kind of brokers it supports 4- / 5-digit price quotes and ECN style brokers. There are setting to tell the robot what kind of account it is attached to (mini- / micro-account). This setting affects the calculated lotsize for the built in money-management.
As the trades are made without stoploss there can be a big temporary drawdown. For this reason the lotsize to be traded needs to be very small to avoid overtrading / margin problems. For smaller accounts a broker with microlots will be needed and the leverage should be as high as possible to reduce the margin requirements.
Conclusion
The No Loss Robot is a relaunch of the Steinitz HAS MTF EA wich some advanced features which should reduce the drawdown. The concept of closing trades only in profit may work as long as the entry signals are good and th EA don’t get locked in drawdown on most of the pairs it trades.