the bot did some damage to my account today… i’ll keep my eyes on it next time
yea today sucked! the only way to use this bot is to keep your risk low. She has had some nasty losing streaks but when she wins its usually sweet.
yes today is ****ty. But if we tighten the take profit, then we would really miss out on the fantastic runs up and down when the EU is trendy. well unless Eugene can reprogram it to have the best of both worlds. (maybe exit on volatility or exit on a loss of certain % of total profit)
Lastly, we can of course take profit manually but I hate to do that cos I always slap myself if I see price go higher. Also, I prefer not to interefere with the bot
Another Loss again
it goes long and the market goes down, now it went short and the market goes up -.-
i’m not sure whether fgb fits the recent market conditions.
No, it does not fit. The bot is made for lets say early jump in of 4h chart change of trend or some 4h chart big move and it trade it on 15 min chart. As I saw it jumps in a trade when there are at least 2 consecutive 15 min candles with big bodies and very small upper and lower shadows. We are in a consolidation pattern on EU … so the bot doesn’t fit this conditions. I have disabled it.
Break-even today, or up slightly to be exact. I closed two trades manually right before another upwards spike and now feel stupid for doing that. Couldn’t check the stats because during work hours I only have access to Oanda’s Android app. The gain was pretty nice, and I stupidly decided to bank that profit instead of being greedy and letting it run. If I hadn’t done that, I would have probably ended up with a decent gain so far today. The second trade was an epic loss wiping out my first trade’s profit and then some…the third trade I just closed manually after bringing me up to 0.3% for the day. I need to let the bot handle stuff, else I’ll never find out if it works or not :15:
Will spend a lot of time backtesting over the weekend.
By the way, funny enough, if you backtest from Jan 2011 until now, I think the best settings would have been 7/28/1.5 (at work, so I can’t double-check) :13:
Those settings would have resulted in 2 relatively large loss months, but 2-3 killer winning months too.
Running it at 5/60/2.2 right now and up 37.5pips today…but only because I closed some trades manually. No clue where I’d really be if the bot took care of things entirely. The one trade it closed, was a large loss that took 2 trades to make up.
By the way, working with that bot so reminds me of my online poker sessions. I used to live of heads-up poker for 2yrs after quitting my job by analyzing stats on every street. And just like in forex, you’re dealing with uncertainty and tendencies when trying to come up with the best game theory strategy. Sadly, you can’t bluff the markets…at least not at the amount’s I’m investing.
FGB can’t handle the current conditions i’ve disabled it till the market is sane again.
The thing is, I think you might be able to change the settings depending on market conditions. In spring, there were some months ending in disaster if you kept the standard settings (or they were mediocre at best)…however, you could change settings and end up with a better profit.
Of course this requires a lot of back-testing…figuring out what settings to use in which market conditions is a lot of work. Work that’s well worth it though imo.
The problem is, you can’t just test a month, because your sample size will often be too small. So you would need to find 10+ similar months and do a test for every single one of them.
I just realised something. The general belief that you do not need forex experience for trading with an EA is not true. As a good old manual trader needs patience and discipline to let the winnings come to him/her, so does the EA trader. You have to roll with the punches, but in the end if will pay off. The problem is the human mind. We expect to see instant profit, but it does not work like that in forex world.
FGB did really bad for me this week. I should have turned it off in the beginning of the week. I had a loss of about 10% of my account and almost back to where I started a month ago. I think part of this is because of FIFO setting being ‘true’ because I am using a US broker.
Did someone else experience the same?
Horrible day, forgot to switch it off before leaving for work. I normally monitor everything over my phone, but of course today 3G was down for me all day.
Biebel
That lack of experience and missconception that anyone should be able to trade forex with a EA and make some quick money is why there are so many fancy marketers selling EAs. Over 90% of them are pure crap and have been reused in some form so many times. The marketers are good and know exactly how to push Newbs buttons to throw down their money. I hate to tell people that no matter what you do, you are not going to be able to buy your way into a successfull forex. It is unfortunately just like anything else in that it takes years of dedication, learning and practicing to find yourself as a trader and a system or program that works for you. I have said it so many times, you would not just hand all your money to a stranger you don’t know and say go trade my money, have fun, neither should you do it with a bot. HOWEVER, if you are looking for a stranger to give your money to then I would be glad to do so. Call it a learning experience fee. 
Statement_27aug11_.pdf (161 KB)
Hi again (note, this reply is in bot the MDP and the FGB thread. Hope that’s not a violation of forum rules as it concerns both bots.)
Been away on vacation and not been around to post any meaningful comments in quite some while 
But enclosed to this post is a Excel report (in PDF format…) from myfxbook.com that show the current status of my bots trading my micro account.
So far im up 34,4 % or 661,9 pips, that’s some 180 USD and the bots have traded a whooping 26,5 lots - thus generating another 106 USD in profit for me in rebates.
Please note that the account was first funded 7/7 with 350 USD, bonus from HotForex amounts to 175 USD and with 26,5 lots traded I’m able to claim 26,5 USD of that bonus as being ‘mine’ now (1 USD pr each full lot traded).
So total profits amounts to 312,5 USD… actually well above the 34,4 5 gain which Myfxbook shows
Breaking that down on the individual bot;
Forex Growth Bot - 487,3 pips, 50,05 USD profit and traded 2,65 lots.
MDP (version 114 to 116) - 173,2 pips, 129,72 USD profit and traded 23,83 lots.
Ive also got an erroneous trade when I showed MT4 for a friend, I accidentally opened a trade but manage to close it with 1,4 pips profit lol.
Its all in the enclosed report, every single trade - winners and losers as well as deposits and a aggregated pivot table.
I’ve been around the (forex) bloc long enough to say that this is acceptable performance for any account/EA!
Question is will it continue? Will FGB get its act together and recover its losses?
Oh… and no, i dont sell the bots. I dont get commission if you choose to buy any bot or no I dont recommend using EA’s for serious investment choices. Neither do i get commission if you chose to open a HotForex account!
Helltopia what do you mean for MDP, what is that bot?
My profit withing 4 months of FGB is arround 90% almost getting to 100% until this week where I lost arround 10% of the account too. Idk what went wrong with the damn thing 
I seriously thinking about buyni WSF but it is a lot a money for an EA
I am using an Micro account on FXopen.
What account types and wich broker are you guys using?
MDP is short for Million Dollar Pips.
Yeah FGB was doing quite well untill the last couple o days when it totatly went loco. Current marked contition and choppyness is not its strong side. Maybe we’ll see a continuation of the triangle breakout we saw on friday, then I’d guess the bot will put its act together and deliver some more pips to us
Hey guys can you backtest these bots if you want to get comfortable with them? Or are you just demoing them?
Anyone using oanda with it?
I am using it on a micro account with started with 50$, I hate demos and 50$ are not really a lot of money, specially for somebody paying in Euros
So is this bot still kicking? Haven’t heard much about it for the last few weeks. Seems like the hype has died down. Anyone still using it? Anyone if someone still has some good reports, please do share