Robots, Expert Advisors, FAP Turbo, more?

[JonnyFX]

Originally Posted by lazymaritimer

Here is what I got, hope it works. I made some adjustments on the parameters this afternoon (can't leave well enough alone) that should improve the scalping performance, although it is set not to trade on Friday, so I won't really know til next week. I will probably buy and try the Steinitz HAS MTF hedge robot as well, but one thing at a time. Forex-Robots website will start live testing FAPTurbo Dec 1, but I think it is only for premium members... whatever that means.

Although I am not an EA fan, I do buy those things
to test them out... or break them however you
choose to see it and most of them have been
pure crap. FAP and FAP Turbo seem to be decent
but again, default settings just don't cut it.
This proves that you need trading experience
to use these EAs effectively. Having said that,
I can also honestly say that FAP is fairly decent
if you set the parameters correctly which clearly
either the FAP Winners Charles or the "Marcus Leary"
fictional character know anything about. They
just mass sell it with the help of affiliate marketing
but they know nothing about it.

Now FAP aside, I can also definitely state that
Steinitz EA sucks pure crap!!! It may be one
of the worst crap out there with a crappy
money back policy and a really sesitive EA
that resets and ceases to function correctly
whenever there is a hiccup in your computer,
internet, or the price movement itself.
FAP is infinitely better than the overprice
Steinitz that most people won't be able to
get a refund on. Steinitz sucks unless you
want to throw away $199 just to see
how much it sucks for yourself. So, I
do not recommend Steinitz in any shape
or form. If you do have the funds, I
do recommend GoMegaFX people. But it
is way out of price range for most people.

I see again and again that people do not
understand the trading world itself. What
makes some people think that "scalper"
mode is safer when you are trading
in the same environment as others?
Stop thinking like that all you newbies.
Please. Couple of posts below I read
someone saying with scalp mode
the drawdown would be lot lower?
How so? Drawdown occurs when the
price moves against your position
multiplied by the number of lots you
have open in the trade. That's the
drawdown. Scalp only comes into
play at take profit, not at the onset
of trading or during or anytime within
trading itself. Why would a scalp mode
be immune to what every trade and
every trader would have to face?
Seemingly and often rough price
swings? It doesn't. Scalp tactics
take place at take profit points only;
meaning generally take profit won't
be more than 5-10 PIPs. Also,
all platforms can be run off of a
dedicated server or VPS, not just
metatrader platform or just FAP
turbo EA. And there is no such
thing as "safe trading" with "minimal
drawdowns." That is dangerous
thinking to trash ASAP. And don't
get all riled up because I tell it
like it is. It won't be an exaggeration
to say that in the years to come;
a ton of people will be financially ruined
by willy nilly delving into the forex trading
arena. Don't be one of those people with
your heads in the clouds.

[hazelj80]

i am user of FAP turbo on a real account so here is what i have to say:

I had demoed the original FAP turbo after a month and it did pretty good but most people couldn't /can't deal with it's unknown/end of month stop-loss feature. that's while i like turbo, it has it fixed and on a micro account, i would definitely leave that m1 long term strategy at 1% risk so if it did hit a 500 pip stop, you loose only 50 bucks. big deal. the scalper, however, is very good so far. all winning trades. just make sure that GMT offset is correct because it doesn't trade every day in the EUR/USD. if it feel it's too risky, it may not trade for days or weeks even! so your bread an butter would be the scalper and the long term feature would be icing on the cake. I've made 92 bucks on a 1500 dollar micro account so far in the 1st 24 hrs

[lazymaritimer]

It appears to use a set TP, which is adjustable in the EA parameters. There is a parameter to set a trailing stop, by default it is set to zero. Default for TP is 140 pips, and SL is 500 pips for the long term. On the scalp, it shows a different TP due to a function called stealth mode (can be toggled on or off) that is supposed to prevent "broker cheating". It appears that on the scalp strategy the displayed SL and TP numbers are generated at random. In reality it takes 4-8 pips based on "internal indicators".
It also uses a "hedge" function on the long term strategy (also can be toggled) and I'm not sure what to expect with these off trend trades that are going to start piling up. There is passing mention of setting the EA to close out every month, which would close them at a loss, which is fine, but I'm not sure if they are useful enough to bother with in the first place.

Steinitz uses a similar system where he recommends closing out at the end of the month. This can be a bit misleading in claims when you look at closed profits without considering all the losing open hedge positions. Pipforia on the other hand closes out all positions at a net profit, which is nice, as you don't have these lost positions eating up your margin. What I don't like about piforia is that is seems to be hypersensitive to shutdowns etc. Whenever I have restarted the program with positions open it seems to have "forgotten" about the open positions, leading to disaster. I was interested to hear the comments on Steinitz, I had heard some good things about it. It doesn't matter how good a robot is though if it is too sensitive to different types of interruptions. I will be posting my updated statements at the end of the day.

I am basically looking for a good robot to reliably make a few pips when I am not able to trade manually.
Thanks for the interest

[johnnykanoo]

Johnnyfx what I meant was that in scalper mode there is a stop loss compared to a never ending sl on faps

also everybody knows that when you limit your exposure in the market ie.. limit your trading term for example scalping short term verses longer swing trading like the long term strat, then you are also limiting your potential loss.

personally im in profit and i can tell you from experience that short term goals of 5-10 pips are easier and less risky than larger profti goals like 150 pips. you yourself said this in an earlier post. so if my wording is different than that i apologize.

bottom line less exposure= less risk greater exposure= greater risk

to me i would rather bankroll smaller moves and let them add up versus holding positions for days with greater possible drawdown overall.

my trading style at present has a mental sl of 20-30 this is very short term trading.

when i do swing trade which i do about once every couple of weeks i am exposing my self to a mental s/l of 200-250

20-30 loss versus 10-30 gain
200-250 loss versus 200-400 gain
its all relevent i suppose

[johnnykanoo]

lazy you should check out pipforia. stella is excellent and her robot kicks @ss
it is a hedgegrid system and requires a vps definatly coz you will ruin yourself if you let the platform to shutdown while you are sleeping.

trading 1 pair is conservative you can trade 1 pair aggresivly by doubling your lots which is what i do.

trading 2 pairs is aggressive

I have that one on a 10k account and i trade 6 lots 60 dollars on 1 pair and it usualy wins 2 trades a day but like i said earlier the drawdown is 25% sometimes and that is to earn a $60 move.

So you have to ask yourself are you willing to deal with that if so you will definatly earn decent with this ea.

it is earning aporx $2500 a month and that is with very aggressive settings for 1 pair.

Again I want to mention Stella is excellent and will definatly respond to any and all of your questions in a very expeditious manner.

if you use conservative recomended settings you will earn around 12- 15%
if you go aggresive than double that 24-30%
what more can you ask for in a robot?

[jado911]

Originally Posted by lazymaritimer

It appears to use a set TWP, which is adjustable in the EA parameters. There is a parameter to set a trailing stop, by default it is set to zero. Default for TP is 140 pips, and SL is 500 pips for the long term. On the scalp, it shows a different TP due to a function called stealth mode (can be toggled on or off) that is supposed to prevent "broker cheating". It appears that on the scalp strategy the displayed SL and TP numbers are generated at random. In reality it takes 4-8 pips based on "internal indicators".
It also uses a "hedge" function on the long term strategy (also can be toggled) and I'm not sure what to expect with these off trend trades that are going to start piling up. There is passing mention of setting the EA to close out every month, which would close them at a loss, which is fine, but I'm not sure if they are useful enough to bother with in the first place.

Steinitz uses a similar system where he recommends closing out at the end of the month. This can be a bit misleading in claims when you look at closed profits without considering all the losing open hedge positions. Pipforia on the other hand closes out all positions at a net profit, which is nice, as you don't have these lost positions eating up your margin. What I don't like about piforia is that is seems to be hypersensitive to shutdowns etc. Whenever I have restarted the program with positions open it seems to have "forgotten" about the open positions, leading to disaster. I was interested to hear the comments on Steinitz, I had heard some good things about it. It doesn't matter how good a robot is though if it is too sensitive to different types of interruptions. I will be posting my updated statements at the end of the day.

I am basically looking for a good robot to reliably make a few pips when I am not able to trade manually.
Thanks for the interest

Lazy,
what are the best settings for fapturbo for the EURUSD 1M,
if you can share it with everyone.
For the scalping mode, i did lot risk reductor @ 20% that gave me the best result on the back testing.
Did you try forex auto pilot(the older version)?

[lazymaritimer]

johnnykanoo, I am just wrapping up my demo with pipforia. While I was satisfied with the results, it was a bit unstable for my liking. I agree that Stella offers very good support. I'm not sure it is the right robot for my use, but there is no doubt it is a good performer.
jado, I have left the settings on automatic money management with 1.5% and 5% for the long term and scalp strategies respectively, which on my $5000 demo has been producing 0.1 lot sizes across the board. I am running both strategies on one account as well. At 0.1 lots, this is about as conservative as you can run it. Obviously a more aggressive sizing on the scalp would be the way to go. Here are my end of week results:

[danny]

I hope somebody would try pipzu, or if there is somebody who has already tried it i hope its results would be posted here.

[johnnykanoo]

Hey Danny welcome to babypips.com were glad you joined the discussion.

I checked out the pipzu website and it looks good. The thing I liked is that it doesn't promise overnight riches and it isn't the same cheesy marketing that faps, faps turbo ets ets fall into. The buy now before we stop selling campaign or buy now coz soon the price is going up campaign. I didnt see any of that from pipzu.

I went through the site rather quickly and I didn't notice any foward testing. I may be wrong though.

Be careful of the expert advisors that show you great backtest results but no foward test results. Back testing might be ok for optimizing settings but nothing can replace a foward test to show real results. Also even a foward test is no guarentee that the market won't change but pipzu seems to have that covered with there advaced algorithm.

If you try it let us know how it goes

thanks, john

[hafizam]

Hi All,

I opened a demo account in fxdd ,the automated trading.In there we dont have to take positions ourselves but just find systems provided by vendors and choose the system provider
and build portfolio and wait for the system selected execute buy or sell for you.

It may took longer to see any trade were taken but out of 48 transactions 39 wins since I opened 14/Nov/08.There are restrictions on Demo account as we cant open or close positions executed by the Signal provider you have selected.

Do try up & let everybody knows the result.

Rgds
hafizam