SharePosts by rounder8
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Thank you guys for help!
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I have done some analysis of Forex Growth Robot. Check out Babypips.com if you are interested:
http://www.myfxbook.com/community/trading-systems/forex-growth-bot/74554,1#?pt=2&p=257&o=74554
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Results are looking very good but:
Average Win: 4.89 pips / €38.33
Average Loss: -1.83 pips / -€29.51
Thus
Lots: 228.3
Equals: 228.3 x 6€ = 1369.8€ transaction costs
That will wipe out all the profits and more. This is assuming this is traded on ECN broker with tight spreads but commission costs (6€ round-trip per lot).
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If transaction costs were included the results would look completely different. Most likely this system would not even win.
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I recently bought this bot (based on good reviews and consistent and realistic results). I ran backtests on EURUSD 15min with default settings for the last 10 years and it seemed to produce consistent results. I also tried GBPUSD and AUDUSD. The strategy lost with those pairs using default settings.
Now I'm running it on my demo account. I 've been running it since yesterday, no trades yet. Interesting to see how this develops. According to the full report page http://www.myfxbook.com/members/fxgrowthbot/forex-growth-bot/71611 it doesn't have any open trades right now. I'm suprised to see Gia......
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