I bought the bot…How to know is it working? It’s writting “ForexGrowthBot Basic 1.3 license status: ACTIVE”. I think it’s working, but I’m not sure…It didn’t make any trades for 5 hours. I know that bot makes about 3~10 trades per week and it’s possible that it won’t make any trade in one day. I just want to make sure that I’m not waiting with turned off bot… 
I think I found the answer in the FGB Manual…The Expert Advisors button must be green… 
then it’s working…
When I press Insert>Indicators>Custom>ForexGrowthBot nothink happens (or I don’t see what happened)? In “Indicators list” I can see FGB indicator, but I can’t see the arrows… :o maybe someone know why I may not see those arrows?
Hi FX;
Would you have more details, what’s the rationale for this statement?
Thanks
I was reading recently that the creator of this EA actually explains you should be prepared for some serious drawdown.
Read more: 301 Moved Permanently
would you mind posting a link to where you read that. I do agree there is drawdown. I don’t know what serious means but I see the potential for drawdown periods.
Hubis I don’t know anything about the indicator. FGB can go for days without trading. I currently have 1 short open from yesterday
well lipinsky’s account shows a max drawdown of 12.6% with a daily gain of 4.64% so in terms of drawdown I find this to be exceptionally low. for the sake of arguements lets do a break down
2% profit would have a drawdown of aprox. 6%
1% profit would have a drawdown of aprox. 3%
.5% profit would have a drawdown of aprox 1.5% (this is around the amount of gain I think is reasonable from very very conservative settings)
btw these are daily numbers I will translate so people can get an idea of the true picture
[B]monthly gains[/B]
40% gain 6% drawdown
20% gain 3% drawdown
10% gain 1.5% drawdown
[B]overall gain on lipinsky’s account 816.24% drawdown 12.63%[/B]
I pressed 1minute chart and then I saw the arrows…It seems that FGB indicator don’t make any other window. It is in the same window which is EURUSD window…also this indicator don’t give an arrow all the time. It shows an arrow only if the chart is going to rise/go down strongly…
here is a link to lipinsky’s account. I wanted to post the widget but I don’t know how to do that yet.
It seems that FGB closing trades to late when winners become losers (but perhaps it’s my fault, because I changed settings…I want to try somethink different, because standart settings have been tested many times by other people)…is there any way to set the bot when to close trades (without manual closing)?
hello johnny,
I am going to Buy this EA this week, wondering which broker is better for it? I am currently with FXCM but i would like to change it to other when I am using this broker. What would you suggest?
Im using fxopen with good results. I think hotforex would be good too.
Ehh…is it possible to make a reverse (Buy instead of selling and sell instead of buying)? I think this bot would work perfectly on M1 or M5 EURUSD if it was reversed…
Yesterday, I took the plunge and opened a live account with this bot after watching it for several weeks on a demo account.
First day trading with it, there were only two trades for me yesterday and I made 226 pips.
However, the first trade it opened, I didn’t let it close on its own. It opened this trade at 1:45pm eastern time. I was watching it all day and then at 4:00pm eastern time it opened up the second trade. They both were buys and I was happy watching them. Later that evening, at 11:00pm, it closed the second trade but not the first. I continued to watch for a bit and at 11:35, I manually closed the trade at 149 pips. Good think I did too because shortly after, EURUSD started to drop. I don’t know if it would have closed it automatically or it lost control of the trade.
I was happy with the results but I’m not crazy about it not closing that one trade automatically.
I decided to subscribe to the trade copier last week as well just to see the difference. Surprisingly, it was opening and closing trades exactly like the bot was. Makes me wonder if there is a live person actually doing it or perhaps it is just a live person watching the bot do the work? Who knows. Not sure if it is worth it but they claim they will close the trade for you even if your computer is down or disconnected. I’ll guess we’ll see.
great results! I had one long close n profit +86
Hi Mowatt:
Congrat!
Would u mind explaining what the trade copier is?
Thanks
I finally figured out how to post a widget. Also I found out myfxbook has the ability to analyze trading by magic number. That would have been so useful when putting together all the stats I did by hand. Ow well live and learn you know.
[
](Forex's Profile | Myfxbook Growth Bot/71611)
okay i only half figured out the widget, when you click it you are supposed to be directed to that account’s page. I emailed myfxbook to get an answer as to what I did wrong and then I will update it. Sorry for any confusion. In many ways I am technically challenged, but I learn everyday
It is a new product that they released just to their current members. They are supposed to be releasing it to everyone, I just don’t know when.
From their email:
[I]What is the trade copier?
- It copies trades directly from our account to yours.
- This means the EA is controlled by us and monitored by a person.
- We will add more pairs, adjust settings, and close trades as needed.
- If you restart mt4 the trades will still be controlled. [/I]
The best advice.
JohnyK has the best advice for using this bot. It opens 4 trades at short intervals when it detects a possible trend break out. Markets may range or trend 50% of the time so this bot is going to be right 50% of the time at best. Close 2 trades manually when you get to +50 each and then let the other two home runs soar or possibly stop out at BE if they fail. With a bot that is only right 50% of the time you have to keep your profit factor at or above about 1.4x-1.5x for it to sustain itself over the long haul and be profitable. The bot is designed to ride breakout waves so if you clip your winners short you will have a much harder time keeping your account safe. There are some traders that are very successful with only 30% win rates but they have to have nerves of steel to sit through 70% losers and ride the winning waves for every cent they can.
With any trading program there WILL be losers. The problem is most people jump from holy grail to holy grail the minute they get a few losers and as a result never reallly get good at any method or ever really understand a bots system. If you are going to trade a system or bot, you had better know what it’s win rate is, risk/reward ratio and when it trades the best (ranging, trending, scalping etc.) or more than likely your account will not be long for this world. If you know these facts and they are accurate, you will be able to set your risk per trade correclty so you can sit through losers and drawdowns knowing that your account will be there tomorrow to catch the next big winner. Let anything get out of balance or over leveraged and someone else will have all your money.
This bot has had a positive impact on my account. I bot 
it, tested it, optimized it, tortured it, busted it, and now use it as a tool because I know what it can do and why. Thanks to all those who have contributed to this thread.
Hi all,
I have deposited 100$ to my account in thinkforex, and started FGB on this account.
The bot left alone and trades by himself. We’ll see if it profitable or not in 2-4 month period.
Nice thread, read it all, good job johnny, keep us updating and sharing the strategies you’re using with FGB.
Cheers!
My FBG live account statistics: h t t p : / / w w w myfxbook.com/members/sierikas/sierikas/104886
Great thanks Mowatt, well i’ll just wait then…