I have finally managed to write the No Loss Robot review. I left the last update where the profit of over £8,000 was being rapidly eaten into by the gaining losses. Well the situation is that the three currencies that were being traded that had averaged down a number of times are still open and still averaging down. The open trades now account for a deficit that touched £12,000 this morning. So the bank now stands just above £46,000 down from the starting value of £50,000.
The bot comes as a simple to download file that is best run on a virtual server so it can trade 24/7. The video instructions are easy to follow and set up takes no more than 30 minutes in any Meta Trader 4 platform.
The first three weeks of the trial were a runaway success, the bank just built and built and with the effect of compounding had gained over 16% from the paper trading value of £50,000. However, because I was paper trading with the bot I was able to contently allow the bot to go about its business just checking on it daily to insure it was still running correctly. Only once in more than eight weeks have I had to reset the trading platform and this was due to the loss of internet connectivity on the server and nothing to do with the stability of the programme. The problems began from around three weeks onwards as losses started to gain momentum. This is the route of all problems with trading strategies like this. The moment you trade with real money at what point, as you see your profit disappear, do you step in and close trades manually or do you have confidence that the situation will turn around. Remember there is never any guarantee that any single currency at any single moment in time could not lose 50% of its value, although completely unheard off you cannot say it is not possible. As we have seen in the markets recently high volatility has been the norm rather than a rare occurrence. Moves like this would completely wipe out your bank, you would have to be very trusting to allow a bot to continue to trade like this with your own money.
The bot was always likely to fail as everything about the way it works just screams of a trip to the poor house. There are no stop losses and the bot averages up or down on open trades to try and improve the exit position. Even if you have limited knowledge of trading you will have heard the saying “Cut your losses short and let your profits run”. The bot uses the complete opposite as a trading philosophy by trying to scalp 50 – 100 points a trade and letting the losses grow to something quite ridiculous.
Obviously the bot gets a negative rating but I am going to allow the bot to continue to trade out of interest to see if these open trades are ever closed for a profit. I will keep everyone informed if there are any developments. Something I will struggle with is if the open trades are closed out for a profit does the bot have a place as a high risk strategy in a portfolio of investments. Obviously you would have to be prepared to quite easily lose all your money but I do realise that a 16% gain in three weeks over the long term if losses can be regained could add a high risk strategy to a more moderate investment portfolio.
You can get the No Loss Robot here: