Hi,

Thanks for your message. I think it may come down to the broker. I use Pepperstone which is an Australian broker. I also hear that ThinkForex is good. I use the default settings and only very rarely close a position that the FGB robot has made. I've made my comment visible to the public, and I always make a comment if I manually intervened, so you can review these if you like - there's only about 4 in total that I've manually stopped, or put a stop on.

I get very similar results to the owners FGB results, so I'd say if you're not getting good results, change your broker. It's not a scalping robot, so I wouldn't have thought there'd be much difference from broker to broker, but it appears there may be.

Good luck with your trading!

Andrew

Hi Akin,

I pulled all the live data from the owners FGB site and analysed it thoroughly in Excel - lucky I'm good with spreadsheets :)

Totally aware my risk is quite high at the moment, and I could make substantial losses, but the way I'm set up now, I am prepared to lose around 80% worse case scenario - and that's worse case. I'm planning on increasing or decreasing my lot size each week depending on my balance.

My formula at the moment is that for each $1000 in my account, I'll invest 0.1 lots per trade. If I have $7,500 at the beginning of next week, I'll put my lot size up to 0.75 - on the flip side, if it goes down to $2,500, I'll put my lot size down to 0.25 and so on. I have a plan to decrease this risk over the coming year and I've outlined this in the analysis and plan I've drawn up. May sound like a crazy method, but we'll see how it goes.

Just to note, I do keep a very close eye on the robot given my risk is so high and I have set-up SMS alerts to my cell phone when the robot enters and exits a trade. If I think the market is choppy and trading in a range (as it did in August last year), I'll reduce max trades down to 1 or 2. I currently have the max trades option set to 5 (sorry, I said I was using default settings but this is the only one I have changed - forgot about that). It's a great robot, but do keep an eye on it especially with real money, and larger lot sizes.

All the best,
Andrew

do you mean the SMS alerts? If so, this is a program I wrote myself. It's an EA that sits in MT4 and sends an email to my SMS gateway with the trade details - it alerts me within seconds of a trade opening or closing. See attached pic...

Let me know if you meant something else.

@leverconsult - I've tested a new SMS alert system which is free (but you do have to set up an account with Clickatell to provide the SMS gateway - it's very reasonable - about 5 cents per text. Once your account is set up, just follow the instructions included with the program and you're away. It's the best free SMS product I've seen - I actually can't believe it's free considering how full featured it is. It also lets you do email and twitter alerts in the same EA - very cool.

Here's the link:

mt4i.com/tradetalk.aspx