Viseu Open 001, One Month, Up in Profit !

Many of you may have been following my blog regarding the testing of the Viseu Open 001 expert advisor. As we may have expected from backtesting results, this expert advisor has proven to be profitable for the time being. As I watched the expert trade for the past month, I realized that it trades in a fashion very similar to that of the Shark and Griffin expert advisors. In fact, the experts traded at exactly the same time on a few trades, which means that they have a similar signaling system, although I do consider Shark and Griffin's to be more complex.

I like Viseu's trading style, it has good entries, never has consecutive losses and does accumulate profit in a very sustainable manner. I am now considering a live trading account with this ea's name on it. If I end up a three month trial period with Viseu on the green, I will let it trade live.

I am very happy with this expert advisor, it may prove that we all may share this free alternative as part of our profitable forex portfolios. Just to finish this review I leave you with a picture of Viseu's equity curve for the past month.

-

Viseu Open 001 Likely Profitable Expert Advisor

As always, I have been searching for profitable no cost alternatives to commercial expert advisors. Recently, I came across the Viseu Open 001 expert advisor. I found it on an Asian forum and have grown a serious interest on it's trading methodology. The expert advisor makes trading decisions based on several moving averages and the rsi indicator. The system makes high probability, low profit trades, which I think is a good efficient way in which expert advisors can attain profitability.

The best news, is probably the backtesting I performed on the expert advisor using one minute data (90% modeling quality). I tested the expert advisor for almost nine years, from 1999 to 2008; using a 10 pip take profit and a 35 pip stoploss, the expert managed to grow an account from 10,000 to more than 10 million dollars (2% risk on each trade). The expert got a relative draw down of about 25% with an absolute draw down of 8.31%. Viseu was barely profitable from 1999 to 2001 but after that year it was constantly winning. Overall the expert advisor won a high percentage of trades (almost 84%) over the nine years.

I have now started the forward testing of this expert advisor on my vps to know for sure if there is consistency between back testing and real market performance.

I am sorry not to include the complete backtesting file here but it is too big to upload and share on my vps (would consume all my bandwidth if everyone checked it out) so I will include it on the next edition of my ebook (which I will send to the people who have already purchased and will purchase the preliminary version). Below is the back testing chart for this ea.
-