After few difficult days, FGB made up for the losses during the past 48hrs…and then some
I think this bot just accumulates small individual losses, and then every once in a while spazzes out when it finds a super profitable trade. As an example, in backtest, it seems that the largest consecutive profit run consists of 6 wins ($964) using my settings, while the largest consecutive downswing consists of 19 losses ($624). So even if you lose 19 times in a row, you still lost less than if you won 6 times in a row.
I’m using Oanda, and 5/59/1.9 settings with smart exit set to “true”. Having said that, I close quite a few trades manually. I actually like FGB’s entry points, but its exit strategy isn’t always that great. I think this month would be a negative one if I had let the bot just on his own…but since the beginning of the year those settings seem great in back tests. I’ve only used them a short while though.
By the way, I did some backtests, and it seems you can use the bot for other currencies…although I haven’t tested it for all of them yet.
Here are some settings for other currencies:
AUDUSD markets: 9/28/1.4
EURGBP markets: 5/59/1.9
They seem less profitable though.
I am considering the advanced version of the bot, because I want to see if limiting the amount of simultaneous orders increases profit.
Anyway, here’s the graph of the past few days. The entry points seem broadly fine, but if you aren’t careful and close those last few orders towards the end of a spike manually, you can lose quite a few pips again.
The Bot dilly dallies around accumulating small losses and then hits the big wave and piles in some nice profites. Aug is a hard month for trading but the bot has survived being slightly profitable. I’m really interested how it does next month when the vacationers return to trading and the market picks up volume.
If you can’t handle a string of losers before the profit run happens then I wouldn’t recommend this bot. You also have to watch it and protect profits. Don’t let good trades become bad trades and keep your risk low. No Holy Grail but it does work.
ya its a tricky balance locking in profit without cutting them off. This ea works great when it hits a home run and milks the market for all its worth but how many times has she been in profit only to give it all back and hit a stop loss. I have a love hate thing for this bot. She does make money but she also loses a lot!
I think I’m just gonna do some manual hedging, minimize the bot’s losses, and profit from its awesome profit spazz-outs
By the way, I finally made the move to a VPS. I got the message that the bot initialized ok, but no trades today. Anyone got any trades today? Just wanna be 100% sure it’s working fine…
Letting it run during news day with some new 4/50/3.1 settings that seem to work better given current market conditions. Still netted a -18pips loss during London open though.
Turns out FGB wasn’t running for almost 48hrs because I didn’t active it correctly after moving to the new VPS.
[QUOTE=johnnykanoo;235522]here is the history for forex growth bot so far…
Good result, however, any system that does not use stop loss, is never a good system as a single market move could drain all that such a person has labored for in a minute if not second.
"Letting it run during news day with some new 4/50/3.1 settings that seem to work better given current market conditions. Still netted a -18pips loss during London open though.
Turns out FGB wasn’t running for almost 48hrs because I didn’t active it correctly after moving to the new VPS."
In August i have turned FGB off. This week my Bot is starting working again Hopefully with a better performance than i’ve read in some posts about august
I’m thinking about buying the Forex Growth Bot. Was it profitable this year until now ? I’m asking a little stupid, but i dont trust the vendor’s statement. They will allwas be “optimized” because they want to sell …
Forex Growth Bot System | Myfxbook here are the results which are almost the same as mine as per entries. I was closing trades manually all August so I’m in green the bot is in red for the month of August.
Today, another 5 Positions closed negative. All on the the top of Eur/Usd. May be shut it down, until FGB reaches new highs in it’s equity-curve ? How are you all thinking about this serie of losses ?
@dk, the vendor recommends using it’s settings out of the box. So, if you decide to get different parameters, you should do extensive backtests to be sure the bot keeps profitable :8: So think twice about this
Very interesting thread on a bot that appears to be the one that most people have some confidence in, although JK and Pipparella either aren’t around these days or maybe have fallen out of love with FGB.
I’m trying the standard settings and I’m also trying it with the settings changed to those of the indicator to catch those earlier trades. HOWEVER I’m doing a couple of things differently as follows:
At 50+ pips I’m booking half the trade and moving stop to b/e (actually it isn’t a stop, it’s a hedge order - more info below). This way I hope I’ll get some extra pickup on those days when the really big winners happen.
Because I’m not in the US or using a US broker I can trade both ways on the same pair, so I’m ignoring the 120-pip recommended stop (scary!) and if a trade goes into the red I’m hedging it with an equal and opposite trade to take the sting out. Once the move against is over, I’m releasing the hedge and allowing the original trade to come back somewhat so that even if it’s -100 pips I will have banked 80-85+ on the hedge so even a 20 pip pullback puts me in profit despite the original trade being a heavy loser. This approach needs concentration because you can end up hedging the hedge of the hedge of the trade, if you see what I mean, but overall it’s serving me very well indeed.
Having the Hedging facility also helps when you feel, through your own TA or your “gut” that a move is coming to an end but FGB is still entering trades.
In the end I simply use FGB as a trade entry tool and I’ll then manage them from there. Hedging doesn’t affect the EA and because I get rebates I also double my commissions.
I like many of FGB’s order entries and I’m happy to run with all of them, although as Pippa has said before on this thread sometimes the last few in a “cycle” are the ones that will cause the drawdowns. I am finding the changed settings are giving me more trades and more opportunity to rake in some steady profit, but even on the default settings with the hedging of the losers, I certainly won’t be complaining.
The thread seems to have gone quiet recently. Anyone else still using FGB successfully? Or have the SNB and the FED spanked everyone? Good luck and good trades!
