Supreme Trading Bot is a scalping trading robot that trades on M5 and M15 charts with EURGBP as the main currency pair. Supreme Trading Bot has been developed by Simon Beeson! Simon Beeson is a professional software developer who worked for a big company for 15 long years making them rich. One day, he gave up and decided to make himself rich by developing this Supreme Trading Bot. In backtesting, Supreme Trading Bot turned a deposit of $50K into $1.3 million with a very low drawdown of 4.93% in a period of 4 years with a modelling quality of 90%. You can also view the live trading account statement of the Supreme Trading Bot posted by Simon Beeson that shows a deposit of $5.1K turning into $36.425K in around 8 months starting from April 4th, 2011 giving a monthly gain of over 83% which is not bad.
Simon Beeson says that he has conducted many backtests and if you are interested, you can get the backtesting results of the Supreme Trading Bot alongwith a cool FREE mechanical trading system from him via email. So, if you get interested first take a detailed look at the backtesting results. The modelling quality is 90%. Do your own backtest with a modelling quality of 99% as it is much more accurate and reveals a lot more as compared to the 90% modelling quality. Read one of our posts where we show how to do it if you don’t know how to do it. Change the different parameters during the backtest to see which ones give the best return with lowest risk.
Once you are done with the backtesting and you consider the backtests to be showing a good potential, you should do a forward test for a period of one month. Use the parameter settings that you had found in backtesting for the forward test. After one month, check what was the performance of the robot during the month. Doing the forward test on the demo account can give very good results which may not get replicated on the live account. The reason is simple! There is a different between the demo account and the live account. There is no slippage and no re-quotes on the demo account. Trades get executed instantly on the demo account. But when you trade on the live account, there is slippage, the spreads might vary then there can be server problems and the order may not get executed or it might get executed with many re-quotes.
So, as long as you don’t test the robot on a live account, there is no guarantee that it will work. The best method to test a robot on a live account is once you are satisfied with the backtest and the forward test is to open a mini account with a deposit of $250 and use the settings of 0.01 lot. This way, you will be using the lowest possible risk settings. But after a few weeks, you can see how the robot performed on the live account. If you get good results, you can increase the deposit size and if you don’t get good results, go for a refund. Now, if you decide to trade with a bigger deposit once you get good results on the $250 account, don’t use a risk level higher than 2% when trading live with the Supreme Trading Bot.