This trading robot by Fx4u is designed to run on GBPUSD only and there are only a few parameter settings to configure the system, it works out of the box and is already optimised and ready for you to start trading.
Make sure you use GBPUSD on a 15-minute timeframe.
Price Action Strategy
There are 2 signals to open a buy order (opposite for a sell order):
- In a large uptrend, enter a trade when a small uptrend appears and add some sufficient conditions.
- When the price is fluctuating in an uptrend band, enter an order when the price returns to the old bottom and add some sufficient conditions.
Stop loss
All trades have a stop loss. It relies on the Fractal indicator or the Supertrend indicator or the neighbouring price zone.
Take profit
All transactions have a set take profit. It is based on the Fractal indicator or the neighbouring price zone or an optimal ratio.
Capital management
Each entry signal is only one order. With 1 stop loss, and multiple take profit levels to maximize profits. Also relies on Kelly's capital management method to bet higher amounts on positions that are likely to yield larger returns.
What Do The Backtest Results Say?
We have tested this robot with various brokers and the results are all about the same, there may be small differences, but we have included some example parameter settings to help you get started.
GBPUSD 1 Year v410.3c
IC Markets - Backtest Dates: 04.01.2022 - 04.01.2023
Commission: 30 per million, Fixed bet 15usd/order
Data: Tick Data from the server (accurate) - what is tick data?
94% Net Profit with a Drawdown Risk of 4.96% of equity and 3.70% of the balance.
Low Risk: 9-year Backtest
Starting capital: 1000 from 19.01.2014 to 04.01.2023
Commission: 30 per million, Fixed bet 15usd/order
Data: Tick Data from the server (accurate) - what is tick data?
627% Net Profit with a Drawdown Risk of 4.34% of equity and 7.22% of the balance
Equivalent to about 627% return over 9 years or 69% return each year
As you can see, this robot is not only effective for a short time but it is profitable continuously for many years. If you are a safe person, you can choose the appropriate entry level. If you are a person who likes high-risk high returns then you can bet with the higher amount for better profit.
Medium Risk, High Return: 9-year Backtest
Starting capital: 1000 from 19.01.2014 to 04.01.2023, Total trades over 9 years is 1835
Commission: 30 per million, Risk 2% per order
Data: Tick Data from the server (accurate) - what is tick data?
243,831% Net Profit with a Drawdown Risk of 14.39% of equity and 10.65% of the balance
Equivalent to about 243,831% return over 9 years or 27000% return each year
Different Backtest Results?
If you cannot get the same results as above then this could be because you are using a different broker, please post your query on our backtest support forum and we will do our best to help you.
cBot Adjustable Settings
This cBot has a few settings and they are all explained below, if there is anything that you do not understand please follow the link below.
There's really nothing to set. I have optimized everything in the robot to avoid the risk when you set the parameters.
Money Management
Choose Risk (meaning you are choosing % of account risk for each order you enter). If you choose FixMoney, you will set a fixed amount for each order you enter.
Max Money
The maximum loss amount for each order (if the above you choose is greater than Max Money, the amount will be the amount you put in Max Money).
Important Note
With your chosen loss amount, allow me to risk with a margin of error of +/- 10%. This is the profit optimization method I applied with reference to Kelly's capital management method. Bet a higher amount on big profitable trades and vice versa.
Disclaimer
As with all the trading robots available on the ClickAlgo web store, this robot is not 100% fully automated and the user needs to have trading skills to manage all open trades due to the unpredictable nature of the Forex Market. Also, the backtest results are not an indication of the results you will get when you trade in a live or demo account.
How To Install & Remove
First, make sure you have the cTrader trading platform installed and then unzip the file and double-click on it to automatically install it onto the platform.
Any Questions?
If you have any questions, please first search our product help forum for the answer, if you cannot find it, post a new question.
Join Telegram Community
You can join a Telegram community and chat with other traders to discuss, share and ask for help.
