Yes, it is possible to back test Steam - you can’t back test using the news filter, as that doesn’t work historically, but Steam itself can be back tested.
I never mentioned anything about moving the SL - I never do that anyway, so I’m not sure what your second point is.
I’ve run a two year back test using your strategy and, yes, there are periods where it works very well (at one point it quadrupled the account), but then it slowly loses over time until you’re back to your starting capital (or less). Over the two years it took just over 900 trades but ended 9% down on the starting capital. Max drawdown was a whopping 87%.
If you’re confident of your strategy, then by all means, carry on, but it’s not one that I will be using.
Hi Jake
I wanted to email you but couldn’t find an email to take off the forum .
I been using it for a while , it goes really well one week (make 500-800) and then I lose it all the following week .
I wanted to get some pointers from you .
Iam not using VPS ( running off pc ) ? Does that matter if it’s on all the time ?
Does the broker matter ? Their recommend one does not give U.S residents accounts .
Also , which pairs are you using ? All the same parameters?
Hulo traders. Am rashida I would like u to help mi on how to run the steam before I put in my money. I have ever lost money before. So I would like to try anEA that’s friendly. What do u sujjest. Please I need ur help dear ones. How profitable can it be.
Hi jake ,
What pairs have you used this setup for .
I have been in the cycle of doom , I make money and then few trades take all the profits back .
I did
Mm=true
Risk=5
Sl= 50
Tp =5
Max trades =5
Tradespar=5
Time restricted
Also does the broker matter ?
I don’t use vps, I just keep my pc on . Does it make difference ?
Listen guys, you have to understand that it’s just a robot. You kinda have to tell it whats going on and where to look. When to trade and when not to trade, etc. The same way that oscillators and indicators give false signals, this thing can also get tripped up on a false signal and lose BIG. You have to constantly look out and guide the robot to take high-probability trades. This goes for all robots, not just Steam. If you can do this, Steam will definately work for you. I dont have any evidence to show because I dont care to prove anything, but try it out for yourself and see. Good luck.
Broker def matters. You have to find a broker that keeps the spreads low. This is a scalping robot so spreads must be tight. I would go with Traders Way
Since i am new to forex and bought ForexSteam EA just before 3 days, i want any suggestion of the best settings… Do i leave the defaults or anyone can tell me a better strategy setting. Thanks
Hello ,
I stopped using it , my account drained from it . I have tried many setups for the last year and overall it did not work for me .
I recommend you run it on demo with time restrictions to test . Do not leave on default .
Check with your broker for offset time.
Lower your profit pips .
Hopefully you get better results than me .
Hello,
still somebody in here?
bought the EA V10 a month ago and tested wit many accounts and different settings.
With “Default” Settings, it’s just an account drainer. I found out, that you’ve to work with
thight SL and the Break Even function, to get rid of those big losses 90, or 20 Pip retrace losses.
With the break function (2+1), I’ve realized that the entries are mostly against a very obvious trend.
Many don’t even reach the 2 Pips BE (or very late) and going underwater directly, going more down (against the current trend) hitting the SL or retrace, or dwelling for ages when the trend stops and later might turn around. Also, the EA opens no more additional trades in such a situation. Here the hedging function would come into play, but it’s gone.
With luck, you can scramble the 5 Pips TP (10 is a seldom winner!) and when you’re exceptionally hit a move in the right direction, you hit the “scalping” TP and leaving the money on the table. Here works a high TP with the Trailing Stop function.
So the entries are the problem, and what strategy, or indicators is the EA using for a trade?
The support can’t, or don’t want to explain it, as the “Blog” and the documentation is nothing more than quiet “overseeable”.
Hello @Mischel12,
unfortunately that EA is a scam. I fell into their trap last year, I spent 2 months changing the input parameters but the thing just kept losing money.
The results they publish on their website are fake, as well as the reviews on Forex Robot Nation.
I accepted I’ve been scammed and moved on, I would suggest you to do the same.
Hi,
thanks for your reply. I’m aware of it.
But I don’t want to give up so quickly!
The money is gone anyways. I’m to lazy,
to discuss about a refund with them.
With my changes in Version 10, its not soooo bad.
But Version 10 is downgraded in the setting features!
As far as I am with my settings, I need the “hedging” function!
It’s gone in V 10!
When you bougt and tried it out 1 year ago, you might have Version 9?
Or older? If yes, could you senf me the zip-file per e-mail?
I considering buy Forex Steam EA as well. Instead I downloaded 3 of their free bots and am demo testing them. Installed them, let them run overnight may 10th 11th and 12th. Lost $4k and then tried different pairs and ended up $6k down. Started again yesterday, with Fireball this week and made back over $4k overnight. Then throughout the day let it run and made back another $1100. Used KickASS on AudUsd and made money, then it took another position and its been up a bit and then down a max to $1500 or so. My plan is to make money on a real acct to buy a better bot. That way I’m not playing with my real $$$ - BTW I’m a complete newbie.
Me again, during the day I watch it and when its decently profitable I close it out at a profit. Within 1/2 hr to hr it opens another trade and I’ve made more. I’m now $1k in the green - again all on demo. Now I gotta figure out what the trades are doing (lot size / pips etc) in terms of funds required to do them to get the results its been getting and figure out how much $ I need for a live account. Learning kind of backwards LOL
first of all welcome to the Algo Trader community!
I don’t know the bots you are testing, but normally you run all bots 24 hours 5 days a week. And without disturbing the bots
The way you do it, following signals would be better for you than bots.
If you turn bots on/off manually only at certain times, then in most cases it doesn’t match the strategy of the bots and you get a wrong picture of the bot. There are of course bots that only run at certain times, but you also run these bots 24/5.
The principle of the bots is that you do not have to intervene manually.
Otherwise you might as well trade manually
Hi, thanks for the feedback, are you saying when the bot takes a trade and it goes into the red severely it will get itself out? and if I intervened I interrupted what its plan was? That would explain why when I manually got out of a good position minutes later it took that position again LOL! I have to ask . . . what’s a good/ standard /acceptable stop loss? dumb question ? but when you’re new to this you don’t know what to expect or what can/should be a “norm” - Thanks!
