it’s not necessary, if you got a good connection, it’s fine. main problem is the consistency of find a good EA. I have to say though, this one is better than I expected it to be. Jury is still out though.
Hi guys,
I am new to Forex and all the trading.
After studying and reading all the posts from this topic I believe I am going to buy FGB next monday (Im on vacation now).
I have some newbie questions:
Can I start with a FXopen Micro Account? Having 1$ on a Micro is the same as having what amount on a Regular Account?
I am thinking about testing shortly on a demo and then with 50$ on a Micro. Is it too less?
Where do I define the lot size, on the Bot on on the MT4? I should difine it to 0.01 right?
Can I log in on the same account at the same time in two different computers? Because I have one to keep 24/5 on and another for use where I wanted to manually close.
Does the MT4 still need to be rebooted when you manually close? Does the bot still looses track of its trades if the connection is lost?
Sorry for all the questions but I really wanted to start kicking it Sunday/Monday 
Kbento welcome to this crazy world of forex.
I will try to answer your questions…
fxopen is a good broker with fgb. As far as a micro account I believe what they do is add 2 decimal places. another words if you open a $50 account it will look like $5,000
In reality I think 1.0 lots equals 10cents per lot but it will look like $10.00 because of the decimal thingy they do.
My best advice would be to take your time and learn mt4 and how it operates. If you trade a real account go small at first.
If you are running fgb from home that is fine. You can use a different computer that has mt4 and log into your account to manually close trades or to monitor them.
As far as fgb losing track of her trades. The fact is I still don’t trust her so I never close mt4 when a trade is open and I watch diligently for any sign of a rogue trade.
Good luck with your trading. While you are here do take some time and go through the school. It is a great place to learn the basics.
What would you say is the best broker for this EA? i’m with fxopen, would they suffice?
I have been using MT4 on demo accounts, it looks really confusing at the beggining but when you get to know how to work with it, it is 100 times better than that “user friendly” platforms. Althought I only know the basics.
I think I going to star with a Micro account with 50$, it is money I can spend. I am really excited about beggining with FGB and demo accounts kill me, trading “beans” is not for me.
I don’t think I need a VPS because I have a really really fast internet connection and Im avaiable to have a 24/7 computer on, if its needed.
What size lot would you recommend 0.01 or 1?
Can you guys please send me the FGB official website? Because is more than one website selling it. Also I can not see any versions on forexgrowthbot…com, it is just an 78 euros payment.
I will keep you guys posted about my FGB trades
mt4 isn’t the most powerful platform, but it’s easy to use, and the charting is cool.
Lbento here you go.
If you risk 1.0 (10 cents) on a $50 account assuming an average stop loss of 30 you would be risking 6% It is not too high but it is high. Also realize fgb tends to open 4 trades at once so now your risk would look more like 24% Which is definitely to high.
Maybe start out with .5 lots to start that would be around 3% risk and when fgb opens 4 trades you are still only risking 12%
Lbento I forgot …\
I think it is great you are learning mt4. Most professional traders don’t like it as much as other platforms. Myself I have tried dealbook360 and I have looked at ninja trader. I don’t know I just love mt4
there is so much you can do with mt4 that can’t be done on other platforms. You can have custom scripts, custom indicators, expert advisors. The charts are totally customizable. you can expand or shirnk charts. you can create line studies and then move them around. Just keep playing around. There is so much hidden functionality that you will discover.
Anyway I’ll talk to you guys later
Hi Johnny:
Are you using the basic version of FGB, or any of the “advanced” version?
I just have bough it and installed it, now one quick question: with the 2 other EAs that I have installed the timezone is an important settings, but I could not find anything related to GMT settings in FGB, is this normal and did I miss something here ?
Thanks
Thanks
i use the basic version with default settings. Because fgb trades whenever conditions are met I don’t think gmt is important. Good luck with trading.
I’m very interested in this bot. I read all this thread. I’m going to buy it on Monday and give a try. I hope my brains will figure out how this bot works…at the moment I’m only a school-boy, but I’m going to be a programmer. Also I’m good at math. So I think it will help me to understand this bot… 
Thanks Johnny
Hubis welcome to babypips. wow I wish I started when I was in school. The great news is you are young enough and if you apply yourself you won’t have to go through this life as a slave like most of us. We are forced to to work everyday and we remain at break even for most of us this is the best we can hope for.
Forex Growth Bot is a great place to start but don’t stop there. go through the babypips school. Learn what you can. Think about this. If you work hard and apply yourself you could be trading for a living full-time anywhere on earth with basically unlimited resources by the time you are 30.
I wish you the best of luck
Happy Easter to those who celebrate it. On the east coast we are enjoying some of the most beutiful weather. Spring is in the air
I wanted to remind you guys that Monday is a UK bank holiday (if I’m not mistaking) Trading should be thin so for anyone thinking of going live next week I would suggest wait till Tuesday. If you are demoing than there is no harm running on Monday. Then you can see if anything happens in a thinner market.
Also I think there is a lot of interest in this bot. I think it is fantastic. It has definitely payed me dividends so far. Having said that there are a few things that I notice and if I posted this before than it bears repeating, FGB trades using a trend following model. I notice it tends to open buys at the tops of ranges and tends to sell at the bottom. [B]If the market is range bound the result is a losing trade[/B] This happens about 50% of the time. Hence a win rate of about 50%
When fgb makes a trade and she is right, than that means price pushes past a significant high or low and tends to run. I have a tendancy to close my positions when they hit +50 but I can say with honesty this is not the right way to trade this robot. It is and it isn’t. It is because +50 is a nice winner and nearly double of what the average stop loss of 30 is. BUT by closing them at +50 I am losing the opportunity to get some of them +100 moves that happen.
So there are several points I’m trying to make and I hope I don’t sound to convoluted. First off the 50% win rate is psychologically difficult to put up with. Maybe some of you can’t handle it and will ask for a refund. However when she wins 50% of the time her average winners are almost twice the value of her losers so she is yielding in the neighborhood of 1:2 risk reward. That with the 50% win rate still makes a beutiful profit!
Now onto my other point. I have been closing at +50 For the most part this has served me very well and I have been very profitable. But when I see price continue than I start to feel regret from leaving so much on the table. This is a very negative psychological condition that can sabotage my trading! Regret leads to greed and greed leads to failure. My solution will be to close 2 positions at +50 and let the other 2 run. So in a way locking in the +50 x 2 allows for what amounts to a greatly reduced risk trade. I would not say no risk because I will not move or set a stop to break even. If I did that it would be totally risk free with locked in profit. But if the trade does move into - territory and both ultimately get closed out at -30 than I am still up +20 on the overall trade. I think it is a solid Idea and that is going to be my new trading plan and we will see how it goes. Now if a ton of trades start going from + territory to stop loss (and this happens greater than 50% of the time) than I will go to closing 3 positions at +50 and let only one position ride. If that sucks I will go back to closing all at +50
So quick recap… FGB tends to open 4 trades at a time. The first 2 that hit +50 close to lock in profit. Let the last 2 trades ride and allow fgb to manage them completely. Also keep in mind fgb is quirky. Do not close the instance of mt4 that has fgb running. She may lose track of her trades and result in losses. In fact I would not even change any settings if fgb has any open trades.
Well sorry for the long post, Just wanted to share with you guys how I am planning to trade fgb.
JK thanks for the post. It will help a lot.
That was my trading plan after reading the entire thread, most of it I learned with you
I am up and running for tonight. I will risk the UK holiday, I just want do see a trade to make sure everything is allright.
I will keep you guys posted
Hi all:
Is it possible to install FGB on several demo accounts (I am not sure coz I have installed it on FinFx, HotForex & Alpari UK, and I only have one “active” message on HotForex, on FinFx it says “verifying” and on Alapari UK, it says “not active”…?
Tx
Hi traders, i have been using FGB in the past and now removed it from live account. I find the EA annoying as it takes on trades at fib extensions that are at exhausted levels. The FGB EA will open a trade after a break of 60 pips in the same direction which is suicide especially at fib 461.8 levels like i have seen it do. At these levels it should be taking an opposite trade to catch the reversal. The developers should look at this and include a trailing stop of say 8 pips and 1 to catch the profits and lock them in. How many times the EA was 20 up and then out for -27??? Ridiculous trades! I will stick to manual trading , harmonic methods.
Hi all:
Is it possible to install FGB on several demo accounts (I am not sure coz I have installed it on FinFx, HotForex & Alpari UK, and I only have one “active” message on HotForex, on FinFx it says “verifying” and on Alapari UK, it says “not active”…?
Tx
Read more: 301 Moved Permanently
license is only good for one demo and one live account
Hi traders, i have been using FGB in the past and now removed it from live account. I find the EA annoying as it takes on trades at fib extensions that are at exhausted levels. The FGB EA will open a trade after a break of 60 pips in the same direction which is suicide especially at fib 461.8 levels like i have seen it do. At these levels it should be taking an opposite trade to catch the reversal. The developers should look at this and include a trailing stop of say 8 pips and 1 to catch the profits and lock them in. How many times the EA was 20 up and then out for -27??? Ridiculous trades! I will stick to manual trading , harmonic methods.
Read more: 301 Moved Permanently
I hear ya. Many times I have been annoyed by fgb buying at the top of a range or selling at the bottom. I’m sure there was confluence with fibs and other factors as well. Also yes it does sell after the move has been well established.
here are some things about fgb you should know. First off it is a trend trader and it is looking for range break outs to new levels. It does lose about 50% of the time. The other thing is it trades eur/usd and for those not aware the reason ea developers tend to like eu is low spread and the fact that eu is very trendy. fgb tries to take advantage of this trendyness. When eu does break new levels it tends to move in that direction.
Like I tell people this robot is not for everyone. Last month my account is up 60% total. It is due to my total portfolio, not just fgb but fgb did contribute nicely.
I will most likey buy wallstreet forex robot next. I will start a new thread for that. It looks very promising and has great reviews.
Thanks Johnny. When you say “… due to my total portfolio”, do u mean you have several EAs, if yes, would you mind sharing the list? (I personnally have FGB, Forex Morning Trade and Forex Megadroid) - Thanks