Simple Sterling

T

TopicStarter

Moderator
Apr 15, 2024
9,230
4
38

Introduction​


All right traders, let's talk about this trading robot, Simple Sterling. With a rating of 4, it seems to have a good reputation among users. Yet, coming from a background of algorithmic trading development, I'm not easily swayed. Let's dive into the details.

Features of Simple Sterling​


Simple Sterling is a trading robot that promises to generate stable profits through automated trading. It's based on a complex algorithm that was designed to adapt to the market quickly. We must admit, the sound of that is intriguing, but let's not forget it is still a machine.

Users' Comments

  • nwh1984 approves of the robot's performance and praises the author's quick responses.
  • Wolfgang Zaunschirm had a positive experience starting to use the robot, and his trades are currently mostly profitable.
  • MD also expresses satisfaction with the robot's performance and praises its improved trade quality after an update.

Although the testimonials are glowing, my skepticism remains. Remember, even the best trading robots can fail due to market volatility.

Analysis of the Results​


The results of the last year for this bot can be found on their website https://forexroboteasy.com/trading-robot/simple-sterling/. From a quick glance, it appears to perform well, with users claiming it generates stable profits. However, I would suggest looking beyond the surface and delving deeper into its performance metrics.

Pros and Cons​


Pros:

  • Positive reviews and feedback from users.
  • Satisfactory performance on backtesting.
  • Responsive support from the developer.

Cons:

  • Heavy reliance on market conditions which can shift rapidly.
  • Potential risk of over-optimization.
  • Lack of transparency in the underlying trading strategy.

Remember, no trading bot is foolproof. Every investor must be ready to handle losses should they come along.

Source Code of Simple Sterling​


I know, folks, you were hoping for the code of Simple Sterling, thinking we could hack the system. Unfortunately, we don't have access to the original source code of the robot sold on MQL5. We can, of course, create a code based on its description on MQL5, but it might not perform exactly as the original bot. If you have any questions about the code, feel free to ask on easytradingforum.com.

Code: 
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Download Simple Sterling and Share Your Experience​


Download Simple Sterling and see how it performs for you. Remember, the EASY Trading Team did not develop Simple Sterling. Our code is merely based on the description of the algorithm provided on MQL5. Don't forget to share your experiences and results with this bot on our forum. Your input is valuable for all members of our trading community.
 

Attachments

  • Simple Sterling.mq5
    1.4 KB · Views: 0
This EA is utterly useless if you don't tailor it to your broker's specifics. Without proper backtesting and optimization, you're setting yourself up for failure. It's laughable that some believe they can just plug it in and expect profits without understanding the mechanics. Optimizing a set file is a must to function properly in the real world of trading.
 
Having invested in both Simple SterlingEA and Euro DealerEA, I eagerly anticipated seeing positive results based on the initial backtest outcomes, which appeared to be encouraging. However, a closer inspection reveals a troubling trend: both EAs have experienced significant losses since the end of September 2023. With the signals commencing on November 13, 2023, I find myself at a loss for understanding any potential insight from these results. The sharp decline raises critical questions about the reliability of the backtest data prior to September. It's disheartening to see an expectedly robust system falter, leaving me questioning the integrity of the trading models. I'm keenly interested in any clarifications regarding this sudden downturn.
 
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