Hello Samshaer,
Is this successful setting to use?
Hello,
Since i am new to forex and bought ForexSteam EA just before 3 days, i want any suggestion of the best settingsā¦ 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 .
What pair was the trade ?
Hello,
still somebody in here?
bought the EA V10 a month ago and tested wit many accounts and different settings.
With āDefaultā Settings, itās just an account drainer. I found out, that youāve 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), Iāve realized that the entries are mostly against a very obvious trend.
Many donāt 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 itās gone.
With luck, you can scramble the 5 Pips TP (10 is a seldom winner!) and when youāre exceptionally hit a move in the right direction, you hit the āscalpingā 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 canāt, or donāt want to explain it, as the āBlogā and the documentation is nothing more than quiet āoverseeableā.
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 Iāve been scammed and moved on, I would suggest you to do the same.
Best,
Luca
Hi,
thanks for your reply. Iām aware of it.
But I donāt want to give up so quickly!
The money is gone anyways. Iām 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 āhedgingā function!
Itās 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?
Sincerly
do you stil use forexsteam ? i just bought itā¦
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 Iām not playing with my real $$$ - BTW Iām 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 Iāve made more. Iām 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
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Hello Jean,
first of all welcome to the Algo Trader community! 
I donāt 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 doesnāt 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 . . . whatās a good/ standard /acceptable stop loss? dumb question ? but when youāre new to this you donāt know what to expect or what can/should be a ānormā - Thanks!
Hi,
See also my other posts!
Forget it! āSteamā is a money eater!
The support is as āoverseeableā , as the whole member area.
No information about the strategy (how the bogus entry points are achieved)
They have version 11 now. The website still talks about version 10.
Version 10 (to compare both) doesnāt work anymore (license error).
Version 11 didnāt make any trade for nearly 2 weeks on two different ICM accounts.
Licensing and configuration are correct (MT4 āĆxpertā smiley).
Donāt waste your money and time!
Yes, because I have installed the new Version 11.
But there is no information about the changes at all.
Theyāre even to lazy, to update the menmber area of their website.
The ānewā Version 11 didnāt trade for 2 weeks on two different accounts (ICM).
Since then, Version 10, which did, at least was doing trades very badly with the default settings, isnāt working at all anymore,
(License Error and the MT4 hangs up).
Iāll contact the support about this, but I donāt expect too much with my former experiences!
About the settings:
You have to work with a higher TP, BE and TS to get any reliable results.
The defaults are BS (TP 10, SL 90). One bad trade eats up 10 positive trades.
The famous āretraceā functions works not all the time.
āMax spreadā is obselete, as long as you donāt trade any exotic pairs, or with a ā ā ā ā -broker
.The entries are mostly redicilous and against the current trend,
and looking very randomly to me.
And forget about the āstupidā sleepy Asian Session āStrategyāā¦
So, nothing really new from my sideā¦
Sorry for my late reply
Yes, basically you got it right. However, I do not know the strategy that the bot follows. Just as you must have at least one strategy in manual trading, a bot also has a strategy.
A programmer must always be able to tell you what the bot is doing at what time and what strategy is behind it. The strategy, your account volume and the risk management of the bot will then determine how big or small the stoploss is. There is no ānormā because there are an infinite number of strategies.
I see you still have some catching up to do in terms of knowledge about bots or how to recognize scam bots.
If you want then go to my site www.rabenesche.de and inform yourself. There I have written down what my previous experiences with robotrading were and what you should pay attention to. Then you save a lot of money and disappointment.
I know, the page is in German, but you can switch to English. The translation is acceptable