Ivybot was just released yesterday. This bot really “feels” like Fapturbo, just with different pairs. Even some of their webpage is worded the same. So… is it real?
I decided to give it a shot and bought a copy and setup on FXDD account.
(Live $50 Account – Yes, I’m crazy – Note that FXDD doesn’t let you setup a $50 account, you need to setup a $500 account and then withdraw the other 450 )
The bot has been alive on all 4 of its available pairs for almost 24 hours now… not a single trade so far… A little depressing as I thought it would get at least 1 trade in. But it is still very very early, so we’ll see what happens.
Settings
Current settings are set as per manual for aggressive/active trading (not default settings) with a lot size of .05
So, we’ll see how it goes. If other guys/gals have this robot setup and are doing good or have some input, I’m sure all of use would love to hear
I bought the robot yesterday morning right after it was released, only then to be greeted with “You must have a 4-digit broker to use Ivybot.” I don’t have a 4-digit broker, I have a 5-digit broker. And I’m not changing to a new broker after several years of trading with this one just for one EA. I was a bit agitated at the fact that they wait until you’ve paid them before they tell you that you must have a 4-digit broker.
I promptly emailed support and asked for a refund (60-day guarantee…) and it’s almost two days later and I’ve heard zero response.
If I don’t hear something by tomorrow, I’ll be escalating my efforts.
Hope it works out for you. Apparently, us 5-digit guys can’t use it though.
I decided to email the support team about the number of trades. They gave me the following response (which seems odd, because they asnwered questions I didn’t ask… I think they copy/pasted a script and went a little too far).
Dear Customer,
The fact that you do not see any trades yet is ok. IvyBot trades mostly in trending markets. Look at your charts, see if the currencies are trending. You have the system running on 4 pairs, so you will see a trade soon. The average is 4-6 trades. Make sure you run the system as long as possible.
Thanks,
Support
Hello:
For the time being, Ivybot is only supported by 4 digit brokers. This is only for the initial launch period and to make sure everything goes as planned in the optimum environment of 4 digit brokers. The reason behind this is for the appeal of less slippage and the fixed spread environment offered by 4 digit brokers. We are currently in the process of applying the methodology to 5 digit brokers. We believe this download to be available within a few weeks. In the mean time, using one of the recommended brokers from the Ivybot member’s login section will work fine. You will be notified as soon as this change has been made.
You can download a great 4 Digit broker here Sign Up Page
Thank you,
The Ivybot team
Sorry to hear you are having trouble getting our system set up. What specifically is the problem you are having? With a little direction from your end, we can certainly help you get your system going. Don’t forget to consult the Ivybot read me and that Robotsetup.com/redeem can access your computer and get your system running for you.
Thank you,
The Ivybot team
We hope this response has sufficiently answered your questions. If not, please do not send another email. Instead, reply to this email or login to your account for a complete archive of all your support request and responses.
I’ve had the ivybot running for about 5 hours or so with no trades. I’m on a forexmeta demo account. The average of 4-6 is missing a timeline from their response, although I’d guess they mean per day or per week. Besides adjusting the lot size, I’ve left the default settings alone. Guess I’ll wake up and see tomorrow.
Sorry, guys, I’m going to give this robot a miss. It contains a high risk martingale type strategy. I haven’t tested all currency pairs but the four that I did backtest, did not survive September/October last year. Blew the accounts right out of the water.
Someone once said that learning to trade is a journey…and many months ago, the martgingale thing was appealing to me…until I came to my senses. If a robot cannot show me a sensible way of dealing with bad trades, then I won’t use it.
I’ve also bought this bot and I am very disappointed by the 5-digit problem. If they don’t fix this very soon, I will ask for a refund.
I did some backtesting with default parameters for one year (7/2008 => 7/2009) and the results are very mixed:
EURJPY and USDJPY: profitable but very big DD! (54% and 87%!!)
EURUSD and USDCHF: profitable and “reasonable” DD (20-25%)
I’m going to test these last two pairs on a demo account. What worries me is that you can see in backtesting that sometimes the bot stay very long without trading. So this would require a long testing period.
Ivy is a trend bot and I found interesting to use it beside other scalping EAs. However for the moment, I’m not sure at all of its performance.
I promptly emailed support and asked for a refund (60-day guarantee…) and it’s almost two days later and I’ve heard zero response.
hey rickboy forget emailing ivybot. goto your email from clickbank and click support ( i think) there you can request a refund and they will do it promptly.
sorry for anyone who got sucked into this crap ea. it is certainly going to be a loser in the long run. if anyone wants to learn how to trade and make real money in the long run than join me in the j16 thread.
Thanks for the info, johnny, I’ll give that a shot.
To everyone else, I would give it at least a week of no trades before wondering too much. The last EA I got took almost a week before it opened its first trade. If a whole week goes by with no activity, then check and double-check to make sure there are no issues with settings. If not, you may want to go the refund route.
Purchased Ivybot and set it up on all four pairs on a demo account using the defaults on my VPS. Here are concerns that I have opened a support ticket for:
Does the Ivybot have an internal hidden stoploss if the stoploss field is left set to the default zero or does it only use the hard take profit?
My first trade closed and answered this concern … so if you were wondering the same thing, Ivybot does apparently has internal take profit besides the one set in the properties. Would be nice if the PDF covered this.
The recommended lot size for an account over $2250 is 1 full lot on each pair. This should be divided between how many currency pairs you are running the bot on, but is not explained like that in the PDF, e.g., if running Ivybot on four pairs, the full lot should be divided by four and each pair should be set to .25. Having four pairs running 1 full lot will cause your account to margin out if the Ivybot attempts to open two trades (one on each pair) simultaneously. Newbie traders don’t know this … their recommended lot size is dangerous. Ivybot needs good automatic money management coded internally.
The PDF file is outdated, filled with screenshots / examples of Ivybot 2.3 instead of the current version 4.9. PDF does not list many of the available settings nor the effect they have. Needs updated with an explanation of the functionality of each setting in detail. Very weak.
Recent backtesting of the Ivybot shows it begins loosing money on EURUSD in June 2009. I purchased the Ivybot as it is touted to be constantly updated to adapt to current market conditions. When is the next update due out?
The included Market Watch Indicator repaints more than the current candle, which means it lies to make it appear to be better than it really is. When a candle closes, the results need to stay the same. Looking at history is always perfect, like looking at MAs in history, they account for the past and future, so it’s easy to predict when you know the future. It appears to be an ADX on default MT4 settings when compared side by side.
The recommended “scalper” take profit setting is 110 for EURUSD and 80 for USDJPY. This is way too high for a supposed “scalper” setting.
Their 4 digit / 5 digit excuse is the lamest thing I have ever heard. There is a built in “Digits” command you can use to detect the number of digits automatically (shown in MT4 programing help). Even a newbie like myself has updated my indicators to work on 4 or 5 digit brokers automatically.
Honestly, I expected a much more professional PDF / product from supposedly Ivy League graduates who are supposedly experianced traders. Their PDF looks like it was written by someone in Junior High with about a month of trading experiance, not Ivyleague grads. If my concerns are not addressed, I will be asking for a Clickbank refund. That said, here is a screenshot of the first trade Ivybot made for me. It made profit with very little drawdown, so I am not ready to jump on the “total junk” bandwagon yet … but there were lots of pips left available on the USDJPY that I took live for 25 pips this morning (note the huge H1 candle).
I am getting " IVY_USD_CHF_4.9 USDCHF,H1: Not enough bars for this strategy - IVYBOT_USD_CHF" constantly in the Expert Tab of Meta Trader 4…i am getting similar message for all four currency pairs
any idea what this means?
Tried messaging their support and its taking foreverrrrrrrrrr:eek:
I am not getting that error. They aren’t paying me to provide tech support and without talking to you on the phone, I can only speculate on your problem. Recommend you double check your settings in the Tools / Options / Experts Advisors tab. Compare your settings to those provided in the PDF. Double check you copied the files to the correct directory too (C:/Program Files/ whateveryourmetatraderis/experts) and that your lot sizes are not too large for your account size, set them to all to .1 and see if that clears the problem. Do you have your clickbank code entered correctly? Exit Metatrader and reboot your computer and try again. I don’t know … but those are common issues.
I also purchased Ivybot and have it set up with all default settings only changed the lot size to .2 rest of the settings default for all supported pairs. will allow it to run on my demo account for 50 days or so.
For those interested in a response from Ivybot team.
I wanted to know if there was a learning period to overcome junk data on start up. I thought everytime I needed to re-boot or change settings or accounts it may then wait for 24-48 hours before trading. Not so! see response from Support, came back in about 10 hours.
no learning
The fact that you do not see any trades yet is ok. IvyBot trades mostly in trending markets. Please take a moment and look at the default Take Profit parameters for Ivybot, most of them are relatively high (around 80-100 pips). Ivybot is waiting to enter a trade where it can capture around 90 pips in a single trade. Picking exact points takes a little time. Ivybot has had around 115 trades so far this year (all 4 together) and we see no reason for the second half of the year to be any different. Please make sure you keep your system running at all times and that you are using a recommended 4 digit broker. You will begin to see trades soon. Ivybot is a very unique system and we are sure you will be happy with it.
I also am going to give it a shot. I am running it on all 4 currency pairs on a demo account with 10,000 changed the lot size to 1.0. and am using the “aggressive” settings from the bottom of the document.
installed the EA @ 2009-07-30 13:53
I am in my first trade on the USD/JPY pair which kicked off @ 2009-07-30 00:25
I came here to say the same thing (sorta). On the default settings, account size $963, it made the same buy as the guy before me (but at .1 lot that it was set to)
hi guys
I also bought it cos its 4 robot in one right so is worthed! after u buy it says 4 digit broker then it only trades 4-6 times per week anyways 2 days running no trade at all but suddenly 3 trade on usdjpy all 3 profitable and one more opened big minus i guess will see what will happen, but 4 robot and only trades 4-6 times per week! idid also run it on 5 digit and its works fine
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