Ivybot -- Comments? success? settings?

[Jin597]

Hi Everyone,

Ivybot was just released yesterday. This bot really "feels" like Fapturbo, just with different pairs. Even some of their webpage is worded the same. So... is it real?

I decided to give it a shot and bought a copy and setup on FXDD account.
(Live $50 Account -- Yes, I'm crazy -- Note that FXDD doesn't let you setup a $50 account, you need to setup a $500 account and then withdraw the other 450 )

The bot has been alive on all 4 of its available pairs for almost 24 hours now.... not a single trade so far... A little depressing as I thought it would get at least 1 trade in. But it is still very very early, so we'll see what happens.

Settings
======
Current settings are set as per manual for aggressive/active trading (not default settings) with a lot size of .05

So, we'll see how it goes. If other guys/gals have this robot setup and are doing good or have some input, I'm sure all of use would love to hear

[Rickboy]

Jin,

I bought the robot yesterday morning right after it was released, only then to be greeted with "You must have a 4-digit broker to use Ivybot." I don't have a 4-digit broker, I have a 5-digit broker. And I'm not changing to a new broker after several years of trading with this one just for one EA. I was a bit agitated at the fact that they wait until you've paid them before they tell you that you must have a 4-digit broker.

I promptly emailed support and asked for a refund (60-day guarantee...) and it's almost two days later and I've heard zero response.

If I don't hear something by tomorrow, I'll be escalating my efforts.

Hope it works out for you. Apparently, us 5-digit guys can't use it though.

[beatsforex]

i have set it for 48 hour by now no single trade at all....is this EA scam or what...

BTW i'm using the one v4.9....

[Jin597]

I decided to email the support team about the number of trades. They gave me the following response (which seems odd, because they asnwered questions I didn't ask... I think they copy/pasted a script and went a little too far).

Dear Customer,

The fact that you do not see any trades yet is ok. IvyBot trades mostly in trending markets. Look at your charts, see if the currencies are trending. You have the system running on 4 pairs, so you will see a trade soon. The average is 4-6 trades. Make sure you run the system as long as possible.

Thanks,
Support



Hello:

For the time being, Ivybot is only supported by 4 digit brokers. This is only for the initial launch period and to make sure everything goes as planned in the optimum environment of 4 digit brokers. The reason behind this is for the appeal of less slippage and the fixed spread environment offered by 4 digit brokers. We are currently in the process of applying the methodology to 5 digit brokers. We believe this download to be available within a few weeks. In the mean time, using one of the recommended brokers from the Ivybot member's login section will work fine. You will be notified as soon as this change has been made.

You can download a great 4 Digit broker here Sign Up Page

Thank you,

The Ivybot team



Sorry to hear you are having trouble getting our system set up. What specifically is the problem you are having? With a little direction from your end, we can certainly help you get your system going. Don't forget to consult the Ivybot read me and that Robotsetup.com/redeem can access your computer and get your system running for you.

Thank you,

The Ivybot team

We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email or login to your account for a complete archive of all your support request and responses.

[ajkagy]

I've done 1 trade so far on the USD/JPY pair...both profitable. Running demo on BasicFX (4 digit broker), Alpari (5 digit broker)

Backtests seem good on 4 digit/bad on 5 digit (probably because it wasn't meant for 5 digit yet)

Backtests are also bad if you use 2007/2008 it seems like (maybe because of current optimization?)

[themailinator]

I've had the ivybot running for about 5 hours or so with no trades. I'm on a forexmeta demo account. The average of 4-6 is missing a timeline from their response, although I'd guess they mean per day or per week. Besides adjusting the lot size, I've left the default settings alone. Guess I'll wake up and see tomorrow.

[kennyhubbard]

Sorry, guys, I'm going to give this robot a miss. It contains a high risk martingale type strategy. I haven't tested all currency pairs but the four that I did backtest, did not survive September/October last year. Blew the accounts right out of the water.

Someone once said that learning to trade is a journey.....and many months ago, the martgingale thing was appealing to me......until I came to my senses. If a robot cannot show me a sensible way of dealing with bad trades, then I won't use it.

Anyway, good luck to those that want to use it.

[bgranvea]

Hi,

I've also bought this bot and I am very disappointed by the 5-digit problem. If they don't fix this very soon, I will ask for a refund.

I did some backtesting with default parameters for one year (7/2008 => 7/2009) and the results are very mixed:

- EURJPY and USDJPY: profitable but very big DD! (54% and 87%!!)
- EURUSD and USDCHF: profitable and "reasonable" DD (20-25%)

I'm going to test these last two pairs on a demo account. What worries me is that you can see in backtesting that sometimes the bot stay very long without trading. So this would require a long testing period.

Ivy is a trend bot and I found interesting to use it beside other scalping EAs. However for the moment, I'm not sure at all of its performance.

[johnnykanoo]

I promptly emailed support and asked for a refund (60-day guarantee...) and it's almost two days later and I've heard zero response.

hey rickboy forget emailing ivybot. goto your email from clickbank and click support ( i think) there you can request a refund and they will do it promptly.

sorry for anyone who got sucked into this crap ea. it is certainly going to be a loser in the long run. if anyone wants to learn how to trade and make real money in the long run than join me in the j16 thread.

james16 pin bar analysis

[JonathanF]

Greetings,

On Monday morning I have downloaded and installed IvyBot Forex Robot Software on the FXDD Metatrader site.

I used the Ivybot default settings and changed the lot size to 0.2 on each of the four Expert Advisors according to my user account money totals.

I also loaded the two Indicators Market Watch and Session Profile to all four of the Trading Currency Symbol Pairs.

As of early Thursday morning, I still have no trades.

Should I try the Ivybot aggressive settings that are listed at the end of the IvyBot User Manual.

Is it becaue my lot size is only at 0.2 on all four of the Expert Advisors since my money total is under $ 1,000?

Thank You.

Jonathan[/b]