Bamboo Bot

This bot is no get-rich-quick-scam! Most bots on this marketplace seem to be too good to be true. The balance only goes up and profits like 20% per month are promised. If you buy these bots, you might make good profits for a while, but eventually your account will blow up, because these bots use dangerous strategies like martingale, grid or hedging. After a while, these bots disappear from the market, because their strategies have failed. Then new scam bots are published and history repeats itself.

However, BambooBot does not use any dangerous tricks. Instead, it finds solid entry points and always closes trades based on a fixed stop loss or take profit. Both are 80 Pips away from the trade opening price. This is a wide distance, which makes the bot quite resistant to spread and slippage in contrast to scalping strategies, which are heavily impacted by these problems.

Most bot sellers only show you backtest results which are far away from reality. They use ticks that are generated by the Metatrader. The problem is that these generated price movements and spreads are unrealistic and lead to better results than in live trading. Therefore, I tried to make the backtest of BambooBot as authentic as possible by using imported Ducascopy real tick data. You can see at the top of the backtest result that the history quality is 100%. The price movements and spreads are exactly like they were in live trading. Moreover, I used realistic commissions of 6$ per Lot and a slippage of 500ms.

BambooBot trades only a few times per month and it has ups and downs. You should see it as long-term investment. It is totally possible that the balance decreases over several months. However, over the last 10 years(!!!) in the backtest the balance growth was quite consistent. The profit per month is not that high compared to other bots, but in the last 10 years the bot would have been able to outperform the MSCI World or other investments by far according to the backtest. And the important thing you have to consider is that this bot uses classical trading and no dangerous, misleading techniques which can suddenly blow up you account. Big profits always come with big risks.

The 10-year backtest with 2% risk per trade has shown, that the bot made on average 1.22% profit per month with a maximum relative equity drawdown of 24.71%. Of course you can change the risk settings how you prefer. If you had used 4% risk in the same period, you would would have made 2.44% profit per month with a maximum relative equity drawdown of 49.42%. Remember to check if your leverage and free margin are sufficient for the lotsizes/risk you want to trade. 

Specifications

-always fixed Stop Loss and Take Profit of 80 Pips

-high resistance to spread and slippage due to big Stop Loss and Take Profit

-no dangerous strategies like martingale, grid or hedging

-Three options for defining risk:

    -Fixed lotsize

    -The amount of money risked per trade

    -The percentage of current balance risked per trade

Requirements

-Currency pair: GBPCAD

-Timeframe: Any (Bot always trades the same way and is independent of the timeframe)

-Account type: ECN, Raw or Razor with very low spreads and commissions