Forex robot trader Anyone used this?

[fishingforpips]

bit of a newbie at EA's. Was reading up about this one and certainly looks like ok results and has lots of options. Anyone had any experience with this? Written by a guy called Don Steinitz. Cheers..

[satsang711]

bit of a newbie at EA's. Was reading up about this one and certainly looks like ok results and has lots of options. Anyone had any experience with this? Written by a guy called Don Steinitz. Cheers..

I know a lady who is very honest, intelligent and a decent intermediate forex trader. She said she bought his EA and traded it on 4 machines with demo accounts. Each one of them went in the hole and never returned to profit. She sent emails asking for help and was told to go to the forums. I emailed him on my own behalf, asking him about a moneyback guarantee and got 4 paragraphs attempting to justify why there could be no guarantee. Recently, he started peddling a "new and improved" EA for only $99 temporarily, regular price much more. I have decided to forget it and look around in babypips.com for someone with a better track record.

[fishingforpips]

Thanks very much for the feedback. I used his demo that only lasted for 1 week. Not nearly long enough to test properly. It closed a lot of good trades but did have open ones that had about the same losses. I emailed but didn't get a very good response. After reading more in the forums here I brought Mattrixnn V4 and have run it this week on a demo for the first time. Currently it has closed 17 trades, total 660 pips for the week up and has 2 trades open with a loss of about 250 pips. Indicators are looking ok for the last open trades so will wait and see. Certainly looks a lot more professional.

[satsang711]

Wow! How exciting! An EA that actually works, right out of the chute. I did a Google search for "Mattrixnn V4" and "Mattrixnn" and came up with nothing, which surprised me. Although past performance is not a guarantee of future profits, yada yada yada, I'm VERY interested in trying Mattrixnn V4 also. Would you post contact info here, please, or email me: Jim at ActionBeatsTalk dot com? Thanks very much for helping me.

[fishingforpips]

Have emailed results as couldn't seem to upload. End result was 695 pips up for the week with a -300 pips open trade. short on GBP/JPY which I am confident will go the right way. This stop loss was only so high because of the demo account size and risk setting. Only worked this out half way through the week. I am going to shrink the stop loss to around 150 pips so I think the only trade that would have stoped for the week is this open one. So 695 -150 -spreads on 19 trades would still be over 400 pips gained for the week so very happy so far. Will keep you posted.

[sam111]

Yesterday the market gave some positive movements and have seen people trading with different brokers making some good profits. Yesterday I came across people who made some good profits trading with Oanda, Iforex, Forex Yard and AVAFX.

[fxelitetrader]

EA's only work for a while then they go haywire like any other machine. Only trade an EA if you developed it yourself, because if it go haywire you can tweak it a bit to get it back on track.

Happy trading!

[mp6140]

while one is not supposed to post other URL's on this site, considering the nature of a site that actually tests and advises like consumer reports, i suggest you look up "pip cop" and see what tests they have done.

i would also strongly suggest leaving a donation of any small amount, as the work they do is super and can only be done by outside funding.

you will find it WELL worth your while !

enjoy and trade well

mp

Within the great hall at Elfinore stands a wondrous coffer, precisely four cubits square and securely latched against the outside world. Inside that repository, shut away from impertinent eyes, abides many an intriquing trading secret garnered from around the world and over the ages !

As a child, i used to watch from the darkness as the secrets were debated and annotated by the elders. No one there held a single thought of my presence -- BUT I KNOW WHERE THEY HID THE KEY !!

[satsang711]

Thanks very much for the feedback. I used his demo that only lasted for 1 week. Not nearly long enough to test properly. It closed a lot of good trades but did have open ones that had about the same losses. I emailed but didn't get a very good response. After reading more in the forums here I brought Mattrixnn V4 and have run it this week on a demo for the first time. Currently it has closed 17 trades, total 660 pips for the week up and has 2 trades open with a loss of about 250 pips. Indicators are looking ok for the last open trades so will wait and see. Certainly looks a lot more professional.

I just got this email back within 12 hours from Matrixnn support. "Hello Mr. James. You can ask for few demo's after purchase. Just send us e-mail with new account number. If you change account and open new one with other broker EA is free for another account. All future updates are free. EA's are full automated expert and does not need for chat or phone support. At this time there is not a single MatrixNN costumer with margin call! "Difference in the operation of V3.0 and V4.0 except that 4.0 handles more pairs".
MatrixNN is tested for over 1 year and we think that our team is able to give you very best of Expert Advisors. MatrixNN V 4.0 is the best EA to our costumers at this time... Please let us know if we can be of further assistance. Best regards and good profits! MatrixNN support team"

I think this is very encouraging and plan to buy it as soon as I have an account open with forex.com and have an account # for Matrixnn. Let us know how it's doing for you, please.

[fishingforpips]

I emailed asking if I can buy now with only a demo number and send live account later. They said no problem so I started on the demo while I setup a live MT4 account. I emailed my live number as soon as I got it and got the new version with live number within a hour I think. After setting up on the demo I had several fairly basic questions that they did take a few days to answer but did give good answers.
They say they don't have a single customer with a margin call, this may be a bit deceptive as they have a setting that doesn't let the system trade below $250 (default I assume you can change) So I guess will never have an actual margin call. I hope this is not the case. I have been running some back test with different account size to see the effect as big demo accounts can bend the results a bit. I suggest starting a demo account with what you intend to start your live account with to get more accurate results.
Last week I only traded 7 pairs but this week are going to 15 as that is the max my live account will take. Have also played with a couple of setting to try and match my live account when I get running. Will post results at the end of the week.
Happy trading...