Forex Growth Bot

Trading Systems Expert Advisors and Automated Trading
291

Hello MGBYT,

I have been locked out of the Forum and I suspect Johnnykanou and many of others have been as well.

Thank you for reply I would like to add perhaps some sort of thread rule.

If you give up on this Bot or any system please post your conclusion backed by what you consider to be your factual reasoning. (Demo, Broker, Length of time that you participated in Demo, VPS etc.)

Please present reasoning not based on emotion!

I also have a hard time accepting any Demo testing for less than month as valid when you have a two month money back guarantee.

Yesterday was hell day.

I was closing out FGB long trades as quickly as I could!

I felt that for the BOT to put in long trades at the end of the 1.3829 spike to 1.3965 and then some was absolute suicide.

Thanks to the FGB Indicator Arrows with confirmation from my my use of Bollinger Bands, RSI and MACd I made a nice chunck of pips yesterday on that long spike.

If you look at yesterdays Indicator Arrows, if you had placed Entry within the first three Arrows of the day(confirmed by other indicators) you would have been a happy camper.

Warmest Regards,

Pippa

292

Hello everybody,

On another note, I have been in the middle of some rather extensive emailing with Eugene and FGB Team.

I told them of the Babypips thread and Forum and have also have been sending in my findings and stats regarding the Bot and the Indicator.

They are in the midst of constantly working at improving our Bot and will be trying to get here over the next few days(this being Friday probably, next week) to say hello and have a chat with us.

I had proposed an interesting solution to Eugene regarding Bots in general and the ever changing Forex Market.

Let’s just say its a concept regarding being able to evolve a bot to various market conditions and he is interested.

To clarify a little regarding this idea is that many consumers go through a great deal of trial and error to tweak settings on Bots that they believe have promise and good “neural bones.”

As an example some people hate FabTurbo some people have written entire manuals on changing the settings of that Bot or have gone on to evolve those “Bot bones” into another version. Super Fap, Fab Fap, Count Fapula, what ever.

Well, what if the Consumer with the help of the Bot’s programmer could be assured that such “tweaking” would be directed by the programmer to the Consumer in a direct way?

Lets face it, if you have a Bot that works fantastically under a certain amount of market conditions and not so well in others would you not feel better about the Bot as a Consumer if the programmer of the Bot was assisting you directly with the Bot tweaking process?

Also, wouldn’t it be nice for consumers to stop buying and returning Bots on a constant basis and consistently stick with a Bot that evolves?

I also feel that this approach would bust the EA scammers wide open.

How would they be able to do their sleazy re-selling if they themselves cannot even understand the programming of their product or have the skills to evolve it in depth?

Well, I do not mean to digress from our thread too much but this does have to do with FGB.

Warmest regards,

Pippa

294

Hi Traders,

I, like many traders of all levels, am interested in bots that can perform well. It’s great when folks like pipa and Johny take an interest in a bot, and track it and keep us informed about their results, and offer improvements. Also, I give credit to the producers of the bot for providing a manual trading option based on the bot’s trading style. This FGB was created by the group that created Overdrive, that has a decent following in the FX trading community, and I really do want to hear about traders forward tests with the product.

At the same time, I do think we should all refrain from trying to restrict others thoughts on this or any other thread. Please remember this is a trade’rs forum, and by nature blogs are one of the purest forms of a “marketplace of ideas,” and that is one of the strengths of an online forum on any subject.

Those who support and those who are critical should focus on presenting the best information for their opinion, and the market will decide who is credible and what to filter out. We don’t need poor posts censored or stamped out by others.

Also, I would respectfully suggest to those who are supporting the bot that they remember this first and for most a traders forum, and that we will be very skeptical of a system or bot, and that the burden of proof is on the system to standup to the market and the challenges by the traders on the forum over years of success.

I would really like to continue to see posts from pipa and others who are using the bot and the manual system so we can continue to follow the bot. Also, maybe she could tell us more about how she is using the manual system. It is ok if it loses some days, weeks, even a month now and then, that is trading, just keep the information coming.

295

Hello bisognor!

Thank you for your wonderful post.

You wrote;

"Also, I would respectfully suggest to those who are supporting the bot that they remember this first and for most a traders forum, and that we will be very skeptical of a system or bot, and that the burden of proof is on the system to standup to the market and the challenges by the traders on the forum over years of success. "

I absolutely agree and had no intention of restricting anybodies opinion based on sound Demo testing methadology.

Most of us on this thread have been writing about the good and the bad regarding FGB.

I do feel that negative declarative statements regarding ANY Bot should be backed by some sort of burden of proof and a sound testing system otherwise one is just coming from an emotional stance and is actually not helping themselves or anybody else.

We can learn so much from why something is not working.

If I have made anybody feel as though they cannot speak up critically then I really do apologize.

I will re-state that I think we need to look at an Expert Advisor as an Expert Assistant.

At present (and I could be wrong) there does not seem to be an EA that operates perfectly in all Market conditions and to expect as such is an unrealistic expectation.

I am looking for a Bot with some “good bones” that I can grow with and tweak according to the ever changing Global Economy and the Forex Market which reflects it.

Yes, it would be nice to have a Bot that one does not have to babysit constantly but I also think it would be very foolish to leave one completely unattended.

I know that I will never be able to “control” the Forex Market but I certainly would like to narrow the odds in my favor through studying and implementing manual Trading and assistive artificial intelligence skills.

If your going to “throw the baby out with the bathwater” just tell me how deep was the tub and at what velocity did you toss the water with the baby?!

Warmest regards and WELCOME!

Pippa

296

Hi again,

I promise I will post regarding my +20 Pip TP adjustment with the Bot and Indicator tomorrow.

Regards again,

Pippa

297

Thanks for the reply Piparella,

I do look forward to further posts on your trading with FGB. I was looking for some clarification about your post about yeasrterday’s manual vs. bot trades.

Your comments:
Yesterday was hell day.

I was closing out FGB long trades as quickly as I could!

I felt that for the BOT to put in long trades at the end of the 1.3829 spike to 1.3965 and then some was absolute suicide.

Thanks to the FGB Indicator Arrows with confirmation from my my use of Bollinger Bands, RSI and MACd I made a nice chunck of pips yesterday on that long spike.

If you look at yesterdays Indicator Arrows, if you had placed Entry within the first three Arrows of the day(confirmed by other indicators) you would have been a happy camper.

So, if a trader was watching the market and using the bot’s indicators, he/she would have entered theses profitable trades given the manual indicators of the bot (by themselves)? And, the bot didn’t enter them, despite it’s manual system would have suggested the trades? Or, would you say, if you were trading the bot’s manual signals without your extra indicators, that manual system would have not pulled the trigger on those earlier profitable trades? Also, did the manual system by itself trigger a buy trade into resistance and make the later bad trades too? Is there a difference between the signals you are seeing in the manual system verses the bot’s choices of trades to execute?

Not to sound negative or beat a dead horse, I would disagree with idea of making a rule that limits negative comments to those who have done 30 days of demos before thay make a negative comment. Frst, positive posters of systems and bots don’t hold themselves to that standard. Two, demos are not the only legitimate way to attack a system or bot. Let those who have negative and positive comments choose the form of evidence and proof (or lack there of) for themselves. The market place will sort out who has sound ideas.

Good Luck with the bot, and your improvements, I look forward to your future posts and data on the bot.

bisognor

298

Hello Bisognor,

I am the lucky person who bought FGB and started running it the Thursday before last when it started its losing cycle.

FGB loaded onto VPS was/is my official start date and that was the Thursday before last.

Officially I have had 7 working days with the Bot.

Just wanted to get some perspective on working time frame which is not much.

The first thing that I noticed was that there were quite a few times when winning Trades (around 20+ Pips) were shrinking into or became losing Trades.

I decided to modify the TP of the FGB Trade entries(the Bot not the Indicator) to +20 pips.

This saved my neck more often than not. Many who had Trades that were crawling up to +30 would find those very trades had sunk to -20 or more.

If they had changed the TP to +20 pips they could have cut the impact of other losing Trades, break even or be ahead for the day or suffer a -20 instead of -40(or more) loss.

Now we will discuss the Forex Growth Bot Indicator Arrows and the Trades made with them and NOT the Bot.

I have found that the Forex Growth Bot Indicator Arrows that appear during the first hours of the London Market were pretty dead on as Alert system for entry points.

I also look at the Indicator Arrows cyclically.

Example: 5 green Arrows then 1 Red Arrow means that we just ended a Cycle of 5 etc.

I also would confirm the sentiment of these signals with the Bollinger Bands, RSI and MacD.

For the sake of simplicity lets just discuss the Buy Arrows.

I always set my TP for +20.

At present, Forex Growth Bot was always entering trades toward the end of a trend which was on the 4th-7th Indicator Arrows!

It’s as though it were waiting for confirmation from the indicator but that entry was too late.

(Please note that the FGB team has stated that the Indicator and BOT are two different systems, not diametrically opposed but different!)

Meanwhile I enter Trades at the 1st-3rd BUY Arrows for a +20 pip TP.

My idea at the moment is that I would rather have 3 Trades for a TP of +20 each (+20x3=+60 pips) then 1 Trade for a TP of 60.(putting all my eggs in one basket)

If things go against me I can at least walk away without the frusteration of berating myself over why did I not just take the first 20-40 pips instead of being down at -60.

This system seems to be working for now and I simply don’t know how it will work in future differing Market conditions.

I also started closing orders that the Bot placed at the end of Trends and this softened the loss.

The good part about the orders that came in at a loss with Forex Growth Bot were that the the loss was never something insane like -300 pips!

The first thing I look at with any EA are the loss’s and not the win’s.

How much can I lose?

There have been many EA’s that show 89% (or more) winning rates due to the fact that they have insane stop losses.

Statistically a Chimp could be a winning Trader for a while with a TP of 10-20 and SL at 100-300 pips!

I can hear the helicopters and the Sequel for “Apocalypse Now” on my Trading account with that sort of set up!

Now Bosignor queried as to whether I would place Trades based only on the Indicator Arrows without the assistance of other indicators?

Well for the sake of experimentation I shall do this in the coming week at the beginning of the London Market, within the first 3 Arrows and a TP of +20 pips.

This experiment will be inclusive of Sell as well as Buy Arrows.

Bigognor, quickly a response regarding our “Dead Horse”

you wrote;

"Two, demos are not the only legitimate way to attack a system or bot. I AGREE and I don’t believe that I ever stated as such!

Let those who have negative and positive comments choose the form of evidence and proof (or lack there of) for themselves.

We will just have to agree to disagree. Flaming a system and providing no factual evidence no matter how brief is just negative and not helpful.

The market place will sort out who has sound ideas.

I agree and will add that due to the Market place changing constantly that what can be a sound idea in one context is not necessarily so in another.

Warmest regards,

Pippa

Demo1/+296 pips
Demo2/-252 pips

299

Here are my results from last week (feb 28th - mar 4th)
Demo account on FX Open, no VPS

All trades were left completely up to the bot on default setting, no manual closing

  1. -14 pips => Peak was +16 pips before close
  2. +48 pips => This was the peak
  3. -21 pips => Peak was +7 pips before close
  4. +12 pips => Peak was +30 before close
  5. +9 pips => Peak was +15 pips before close
  6. +26 pips => Peak was +32 pips before close
  7. +16 pips => Peak was +25 before close

Next trades were on Friday

  1. -13 pips => Peak was +5 pips before close
  2. -26 pips => Peak was +6 pips before close
  3. -20 pips => Peak was +16.5 pips before close

Total Wins = 5
Total Losses = 5

Total pips for the week = +17 pips

I’m recording peaks before closes to see when I should manually close them in the future.

I know it’s too early to tell, but so far not very impressed with the robot (by itself). I know I’ll have to manually close them in the future, but for now I’ll continue testing the bot by itself.

300

Hi Danny,

Thank you so much for your post!

The peak information is really helpful.

ForexVPS

Demo1 on ECM/STP Broker AskObid
Demo2 on ECM Broker FinFX

Demo1-FGB, FGB Indicator, Human interaction/manual trades and closing bad bot Trades and changing Bot TP.

-25.30
+38.20
-16.40
-24.00
+17.40
+16.00
+20.70
+20.20
+2.10
+20.00
+15.00
+20.00
+6.90
-28.70
+19.50
+29.70
-20.70
-15.30
+20.00
+20.00
+20.00
+19.40
+19.50
+19.20
-25.00
-28.10
+20.00
cancelled
+20.00
+20.00
+34.30
+25.10
+7.50
+32.70
-8.30
+1.30
-2.80
+0.30
+12.50
+4.10
-3.60
-24.80

Closed P/L +296.37

Now for the sad Floating Trades part.

Two of the Trades listed as Bot and Cat occurred on a Friday when a series of emergencys happened and I was away from my pc and then home.

The other 2 Trades are most likely going to be a failed experiment so I will wait until the Market starts up and hopefully cut the loss’s on them.

Was going for a very high stop/loss and TP Strategy. Really stupid.

-148.20 (Cat and I have let this stay out of sick curiosity and it happened after market closing)
-74.10(neither the FGB or Indicator are responsable for this one, I am)
-56.60(neither the FGB or Indicator are responsable for this one, I am)
-16.70 (FGB)

Demo2/FGB-Solo-Feb.24th-March 4th
-23.40
+40.30
-14.10
-18.80
-45.10
-47.80
-39.00
-23.10
-26.30
cancelled
cancelled
+13.20
-13.20
+12.90
+5.60
-31.60
-22.00
-8.40
Closed P/L= -252.00

Open Trades
-3.80
-4.20
-20.20
-28.20

Regards,

PippaRELLA

301

Hello Everybody,

Well, instead of trading on the arrows I have changed the Forex Growth Bot settings (Standard Version) to reflect the three primary settings on the indicator.

Fast Volatility changed from (5) to (3)
Slow Volatility changed from (60) to (50)
Volatility Factor changed from (2.0) to (1.5)

These changes have been made on Demo1

Demo2 remains untouched, Bot running on original settings.

I have also closed out the floating trades which were mostly non-bot related.

Regards,

Pippa

302

Pipa did you get 3 losing trades in a row this morning with the standard bot?

303

Hi DK,

I sure did!

Demo1-closed them out manually
Demo2-left them as losing trades

Following please find FGB Report for today on Demo1`

+8.00-Manually closed FGB Trade
-0.90- Manually closed FGB Trade
-6.50- Manually closed FGB Trade
+1.20- Manually closed FGB Trade
(then I changed FGB Settings to FGBIndicator Settings)
+27
+40
+35.30

+111.50
-7.40 for today

+104.10 Total for today

I was really pleased that the FGB in now entering Trades during the first of the Indicator Arrows on its own and NOT entering around the 4-7ish Arrows at the end of a Trend.

Following please find the Settings that I have input.

Fast Volatility FGB(5) to FGBI(3)
Slow Volatitility FGB(60) to FGBI(50)
Volatility Factor FGB(2.0) to FGBI(1.5)

For those of you that would like to try this

A. Right click on your MT4 Window
B. Go to Expert Advisors
C. Properties
D. Click on input TAB
E. Scroll down and locate the above settings and change them to what I have listed.

Warmest regards,

Pippa

PS-There are of course no guarantee’s regarding changing the settings and this is an experiment in its infancy.

304

Danny: I’m not Pippa, but thought I’d chime in.

I did get three buy trades initiated by FGB at around 4:30 am, 4:45 am, and 5 am EST. Two of them I let run to a manually set s/l at 1.40221 and 1.40241. The third one entered at 1.4039 and hit my TP point at 1.40273. FGB then had 3 sell orders at 8:45, 9 and 9:15 at around 1.400… The best one was a sell order at 1.40030 and I closed it out with a manual S/L at 1.39880.

Folks, help a newbie out. Is that 15 pips, or 150 pips ? I think it’s 15. pips but have heard differing opinions.

MGBYT

305

Hi MGBYT!

Thanks for your post.

What do you mean is that 15 or 150 pips?

I am tired and probably being overly dense.

Warmest regards,

Pippa

306

That’s all you did to make it enter on the first few arrows? That seems to be my problem as well. It always goes in after like the 4th arrow, when the trend is not that strong anymore.

Thanks for the input MGBYT, I got the same trades, but didn’t manually close cuz i’m testing the bot by itself. And that has to be 15 pips cuz eur/usd didn’t move enough to make 150

307

That’s how I was doing it too, but even though I am using it in a test account, I could not stand to see winning trades turn into losers. So, I am setting stop losses and Take Profits after FGB has intitiated the trade.

I guess that should tell me something about my trading style …

308

I swear that’s all I did.

You can just imagine my joy that the trades were automatic on the 1st-2nd Arrows/Short AND no lame trades on or after the 4th Arrows.

Maybe I was lucky today with that setting change.

Only time will tell and I am hoping that tomorrow will be the same regarding Arrow(s) Entry.

Regards,

Pippa

309

I currently have settings of FV=4, SV=40, Vol=2. Seems like I have gotten into the trades a little earlier with these settings. Also running them on backtesting (for what it’s worth) proved to be some of the most profitable settings for the last year.

Unfortunately my system rebooted this morning after a virus scan so it missed being on durring the losing trade spree. I would like to have seen if these setting changes did their stuff or not.

As for the questions on 15 or 150 pips, it depends on the number of digits your broker uses. On a 5 digit broker, 150 pips is the same as 15 pips on a four digit. I have a five digit broker so looking at the $ calculations it appears that 150 pips is actually a 15 pip move. This is always been confusing to me as well even after a lot of years of trading.

Also, I have ran backtests on many additional pairs changing volatility and trail profit risk. Some of the pairs that bounce all over don’t work with this system very well. Those that make good steady moves when they do, do very well. Once I have more forward test data I will post the settings for these.

310

Hello EJ and WELCOME,

I have just received a pm from a friend on another forum.

Even though I am at least starting my morning with two profitable short Trades (looking that way) he backtested my settings which as you know are the indicator settings.

He found that his settings were more profitable.

Here are Rayongs’s Settings and what he said.

“This is quite close to default but I think it will produce better results in today’s choppy market. 5/64/1.9 This is what I’m using in my live account now.”

EJ, if you could compare your settings with Rayongs in a Backtest I would REALLY appreciate it.

I have decided to change FGB settings on DEMO2 to Rayongs and will be changing DEMO1 settings to yours.

Thank you so much for posting your findings,

Regards,

Pipparella

311

Hello Everbody,

Report for Today.

Demo1 with FGB settings changed to the Indicator settings

+1.20
+27.00
+40.0
+35.30
+20.0
+5.70(FGB opened and closed)
-26.30(FGB opened and closed and I had set TP20)

TOTAL- +129.20 and -26.30= +102.90 for Today

The last two trades were at the end of the trend and I knew it.

It took incredible self control for me to not close those trades but I didn’t due to my wanting to see what FGB would do on its own.

Both of those Trades had a TP of 20 set by me manually after FGB had entered the Trades

-26.30 ( it killed me to let this one run)
+5.70(the good news on this one is FGB went up and down for a while from -10ish to +5ish and then decided to just take what little it could get)

Now as far as settings are concerned.

I am keeping my settings from the indicator for FGB as a sort of hands on scalping strategy.

Meaning letting FGB do the entries and I close the trades or set TP.

EJohnston had so kindly shared his settings and Rayong just got back to me with his backtests and here is what he wrote.

“Just tested 4/40/2 and its not very good. It probably does get in earlier but from June last year to now it performed even worse than default settings. I usually test a short period, 1 year or less because I feel the forex mkt is changing all the time and if you want to capture the most current situation in backtest it shouldn’t be more than 1 year.”

Please bare in mind though that I am keeping my changes due to my liking the idea of having a scalping strategy and a more conservative strategy at the same time.

Also, EJ may be a Trader that wants to get in and out early and Rayong perhaps likes to enter maybe later but wait for a longer time.

Both have their qualities.

Would I leave my settings on the Indicator settings and just walk away from my PC for the day?

No.

I will either be closing down the FGB for the day when I am done Trading OR changing the settings back to the most conservative ones.

I also am investigating an EA mgt. Program that allows you to set SL and TP on the MT4 platform instead of within the EA itself.

Hidden input that the broker also cannot see!

Warmest regards,

PipaRELLA