Those results aren’t too bad actually.
btw, jonny, u running this bot on fxopen?
Hello everbody,
With the Pending U.S Homesales coming in at 10:00 (projected -2.2%) I am hoping that this will send our Euro up.
Contemplating manual close outs around 40.
4 trades-3 open-1 closed
3 long trades entered by FGB which are open +
1 long trade entered manually with FGB Indicator-Closed this trade at +20 pips.
Regards,
pippaRELLA
Hi there,
today I bought FGB too and actually I’m backtesting to find the best settings to trade my live account.
Does anybody have experience with other settings instead of the default ones?
With some changes I had a great growth but with large drawdowns and many big swings in the equity curve.
Hi Bruck,
I did some backtest too and finally the standard settings were the best regarding R/R ratio.
regards
Thats true, with standard settings it seems to be less risky, but for example, with standard settings it makes ~5k profit in 9 years. With my optimized settings, it would be ~40k profit in the same time but with bigger swings.
Well, I am in a strange situation,
3 Long Trades and 1 short.
FGB Indicator(not the Bot) had a Sell Arrow.
My other indicators RSI,MacD, and Bollinger bands confirmed that move so there you are.
Hedge.
Regards,
PipaRELLA
Hey guys, thanks to your help I decided to purchase the bot and give it a try, I’ll be posting weekly results.
I have a question about the indicator though. I see the arrows to go long/short, but is there anything else to it? Usually indicators have something else you have to compare to. Or do you guys just compare with other stuff like IMACD?
There’s nothing on the indicator in the Member’s Area, so is it just go in at the arrows?
Hi Pip,
Once FGB gets in buy sequences for ex it will not take into account sell signals that’s all. On my side I closed manually all 3 buy trades and consequently FGB was free to take the sell signals. There is one weird thing that happened to me on the sell signals it has opened 2 trades (1st with 0.02 lots and 2nd with 0.01 lots). Normally it should not open more thna 0.01 lot so I am gonna send an email to the support for that…
regards
Hi Danny,
There is an excellent article that you should read by this Russian Mathematician Igor Belitsky. (just google him)
Thanks to him I use MACD(13,26,9) BOB(10,1) on RSI(7,simple,close)
You need to drag the Bollinger Bands onto your RSI Chart, not the Candlestick.
“2. Composition of RSI and Bollinger Bands
We apply Bollinger Bands study to RSI indicator. Buy signal is triggered when RSI falls below Lower Bollinger Band. Sell signal is generated when RSI rises above Upper Bollinger Band. There are many signals against the trend so we need to use some trend filter. We add MACD indicator as trend filter. If MACD>0 the trend is upward, if MACD<0 the trend is down.
The main advantage of using RSI with Bollinger Bands is that it helps to catch trading signals inside trend phase while standard overbought/oversold levels are useless inside trend. We believe that RSI(Bollinger Bands) composition study is working good both in range and trend phase while 80% & 20% RSI levels are only suited for ranges.
3. Trading System example
Below is USD/CHF 240 minute chart with sample automatic trading system. Sell signal is generated every time RSI rises above Upper Bollinger Band while MACD<0.
Buy signal is generated when RSI falls below Lowe Bollinger Band while MACD>0.
If we used RSI overbought/oversold levels on the chart above we would have missed sell signals inside down-trend as well as buy signals inside up-trend phase while composition of BOB(RSI) works fine”
I have been running two experiments with Forex Growth Bot Indicator.
One just to buy when 1st-2nd Arrow show up.
I have noticed that many times if you buy on the 3rd or after Arrows the trend is weakening.
Experiment number two is using the Igor Belitsky method to confirm the Arrow signal.
I have found that the FGB Indicator is not as Elliot Wave theory based as the FG Bot and tends to “agree” more with my other indicators.
Today the Bot Indicators pointed to perfect entry levels and the Bot did not enter trades until the 5th, 6th and 7th Buy Arrows!
If the Bot had gone long on the Arrows, 1,2, and 3(instead of 5,6,7) I could have been in and out the trade by now.
Today and last Thursday the Bot went long toward the END of a trend and then the Market went sideways.
So far I am +20 pips but have 3 long open and 1 short.
Please remember that I too am studying this Bot so please understand that I do not consider myself some sort of expert.
Now I will vouch for the Belitsky method as I ended last month trading +11%
Yet only time will tell.
Regards,
Pippa
Hey Dreuf,
Thank you for your feedback!
Please keep me posted on that strange lot size change.
Today is a weird day.
Two of my trades that are open are manual with Indicator.
Two from Bot.
One closed by Bot.
Regards,
Pippa
Hey Dreuf,
Another question.
If I manually put in a take profit at 30 pips in the FGB BOT will it still function correctly or should I just wait and do it manually?
can I do this?
Regards,
pippa
You can do all manual operations without any issue except restart MT4 which stops trade’s management by FGB. Johnny has already linked a good ea developped by a guy on FF -> MTPM. This ea is aimed at trade management with a lots of nice features (BE, jumping SL, hidden SL and TP etc…)
I used it since the beginning together with FGB. For ex I used to put an automatic SL set at -200 pips in case of major failure or crisis of the market and additionnally a BE stop set at 20 pips in order to avoid winning trades turn into loosers. Today it would have avoided the 3 buy trades to become looser.
My issue is that I can only perform forward tests and it is hard to tell you what would be the optimal additional parmeters. Trades need some breathing space to take place and with the BE set at +20 pips it happens to stop trades at 0 which at the end become big winner.
At this time FGB is really a black box to me I really cant find exactly what sort of indicators, data, parameters whatever are used to take buy or sell trades. Consequently I play it safely and if If am at home i close trades manually on S/R and when I am at work I let MPTM do its work (sometimes I am still able to control trades with my iphone and remote computer control. Dont tell it to my boss^^).
My feedback on FGB is pretty good with such additional control. I am around 70% winning rates since 15 of january.
The way I use FGB is for entries mainly but for TP I prefer to use some discretionnary by watching at R/S.
For example today if i was at home I would have clearly manually stopped all 3 buy trades at 1.3850. Why? Have a look to the top of 2nd of february 
This area was also a big support from 7th October to 1st november 2010.
Watch higher Tfs and check out in the past this area. You will lsee what I mean.
Regards
Here is FGB support team answers about the lot size issue I got yesterday.
“Actually, It was suppose to open multiple trades, but occasionally it opens it all in 1 trade, we are working on a fix. We will inform you about it when its ready.”
So wait and see. Anyway I have to say they are really ptompt to answer questions that is a good point.
Regards
Hello Dreuf,
Yes the Customer Service for FGB is excellent and they are always working on improvements.
Thank you for your previous advice. (would you send me link for that Trade mgt. application that JK gave you?)
I changed yesterdays Bot and Indicator Trades to close at +20 before I went to bed and have wins today.
There is 1 trade long by Bot(today) open at the moment and that (hedge) short still open that I did manually from the Bot Indicator.
Demo2 is the FinFx Demo with NO Trades going on at all and is down -150 while Demo 2 is up +78.
FinFX and AskObid both have very tight spreads and execute(also reccomended by FGB Team) quickly so I wrote FGB team regarding this.
Regards,
Pippa
Correction, Demo 1-Manuel trading with Indicator AND Bot is +130.
Early morning brain damage.
Pippa
2/28-3/1 due to carryover from yesterday
I changed the BOT trades of 2/28 to TP at much lower setting due to resistance and the fact that I agree with Dreuf and JK regarding closing out Bot trades so they stay winning.
Unfortunately I missed doing that yesterday so hence the carryover at least at some profit yesterday to today. My attempt at rectifying the situation.
At the moment I am setting the Bot to take 20.0 pip profit [U]if I have missed the manual close and its at the end of a Trend[/U].
My system with Bot Indicator and my indicators is an in out TP 20 pips.
I ONLY use Bot indicator if my other Indicators support such a decision.
1.3825-1.3840 +15 (2/28)
1.3830-1.3837 +6.90 (2/28)
1.3818-1.3837+19.50 (2/28)
1.3807-1.3837 +29.70 (2/28)
1.3830-Bot Closed -15.30 (2/28)
1.3818-1.3838 +20.0
1.3801-1.3821 +20.0
1.3820-1.3840 +20.0
1.3804-1.3824 +19.40
1.3790-1.3811 -20.70(2/28)
Total since last Thursday +173.21 pips on Demo 1 (Bot, Bot Indicator, Me, My Indicators)-Broker AskObid
Total since last Thursday –152.80 on Demo 2(Just Bot)-Broker FinFX
ForexVPS used
dumb newbie question…I am red-green colorblind. I can’t see the difference between the red and green arrows in the indicators. I can’t find a spot to change it. I have an email into FGB, but was wondering if anyone else knew off-hand. Thanks!
So, if I read this I ask myself… can anybody say he makes good winnings with just the bot without managing any trades by self?
I ask because I maybe setup a live account with 10k and let FGB trade it, but I want to be sure that it makes winnings instead of loose all my money!