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Forex Growth Bot (By Andrew )

The user has deleted this system.

Forex Growth Bot Discussion

Akinwale (leverconsult)
Feb 05 2012 at 13:24
140 posts
hi friend,
would you mind sharing how your forex growth bot is able to perform better than others

Thanks in advance

Courage is not the absence of fear,but rather the judgement that something else is more important than fear
Andrew (4xlee)
Feb 08 2012 at 07:30
14 posts
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


Akinwale (leverconsult)
Feb 08 2012 at 09:30
140 posts
thanks Andrew,

just an observation- you use close to 4 times the recommended lot size/risk level. Now that the market is trending,it would be fine, but if we get locked in a range such as occurred in August/September 2011(31% DD for FGB live testing),one would not survive the drawdown.

Check it out and happy trading.

Akin

Courage is not the absence of fear,but rather the judgement that something else is more important than fear
Andrew (4xlee)
Feb 08 2012 at 09:50
14 posts
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

Akinwale (leverconsult)
Feb 15 2012 at 19:06
140 posts
do u mind sharing the set-up you use in receiving alerts concerning opened and closed trades?

Courage is not the absence of fear,but rather the judgement that something else is more important than fear
Andrew (4xlee)
Feb 16 2012 at 00:54
14 posts
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.

Attachments:


Akinwale (leverconsult)
Feb 17 2012 at 19:48
140 posts
yes thats what i mean.

i Would like to get sms or email alerts - anyone will do.

But since its a programme you wrote yourself,im sure its only for you right?😄

If thats the case, what other options do i have in having this

Tnx

Courage is not the absence of fear,but rather the judgement that something else is more important than fear
Andrew (4xlee)
Feb 18 2012 at 08:21
14 posts
@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

Akinwale (leverconsult)
Feb 20 2012 at 13:12
140 posts
thanks mate and hope you are enjoying your configuration on FGB

Courage is not the absence of fear,but rather the judgement that something else is more important than fear
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