Forex Growth Bot Discussion

manual intervention is the only thing that will save your ass from catastrophe, i personally use this ea but i manually set take profits (when i am in front of my pc) and every week i adjust the number of maximum orders, i usually set the ea to trade 1 order at time, but if the week was bad i set it to 2, and if the week after is bad too i set it to 3, then, when i recovered enough i scale down to 1 max order.. if the week, or a particular day, was very good i simply turn it off, doing so i fortunately have avoided this catastrophic drop..

I've had enough of FGB...

Please PM me if any1 is interested in purchasing it...for a much lesser price than that of vendor's......

nxk33 posted:
manual intervention is the only thing that will save your ass from catastrophe, i personally use this ea but i manually set take profits (when i am in front of my pc) and every week i adjust the number of maximum orders, i usually set the ea to trade 1 order at time, but if the week was bad i set it to 2, and if the week after is bad too i set it to 3, then, when i recovered enough i scale down to 1 max order.. if the week, or a particular day, was very good i simply turn it off, doing so i fortunately have avoided this catastrophic drop..

Also I am trading with this bot by intervening the trades manually when I notice that the bot takes a bad decision, but such as many times my manual intervention has served for avoiding bigger losses, of the same mode my manual intervention has cutted the gains prematurely while the bot reached bigger profits. In the average , my manual intervention has not gave better results than letting the bot work alone.

Same here, I started out with it by intervening, I lost more than the bot. Often when you decide it's not going to break resistance it does. There are a few things to think about.

1) You haven't backtested 'your version'
2) If you can trade better than the bot why aren't you trading manually?
3) What's your trading plan and how did you test it?

If you don't have a clear trading plan that's been backtested then you're gambling not trading.

stevetrade posted:
Same here, I started out with it by intervening, I lost more than the bot. Often when you decide it's not going to break resistance it does. There are a few things to think about.

1) You haven't backtested 'your version'
2) If you can trade better than the bot why aren't you trading manually?
3) What's your trading plan and how did you test it?

If you don't have a clear trading plan that's been backtested then you're gambling not trading.

don't you think that using an authomated brainless ea to trade is more risky than gambling?

a backtest on previous years data can give you enough confidence?

to be honest i don't think so, you, as everyone who uses an ea to trade, keep an eye on your ea's performance every week (if not every day) because you are not so confident.

i am trading with an ea basically because i can't be all day in front of my pc to catch big spikes.. i know that sometimes if you cut your profits too early in the end you will lose a lot of good opportunities, in fact i am only adjusting the tp, as a rule, i set my tp at least at a minimum of 70-100 pips, because after such a drop a rebound of at least 1/4 (if not a 1/2) should be expected.. btw the greatest result in manual intervention is not to be found in manual tp, but in manual positions reduction, 'statistically' when you gain a lot of pips you are going to lose some of them very soon, if you look at the equity curve of the ea you will notice that this is how it works.. it gains a lot, and then it loses a lot..

nxk33 posted:

don't you think that using an authomated brainless ea to trade is more risky than gambling?

a backtest on previous years data can give you enough confidence?

to be honest i don't think so, you, as everyone who uses an ea to trade, keep an eye on your ea's performance every week (if not every day) because you are not so confident.

 

I hope not or I may as well take my money out and start following the horses.

The only way to trade whether it is manually or automated is by using a proven strategy.
The only way to prove a strategy is to test it.
The only data we have to test it is back testing on historical data or by forward testing on current data.
The best way to back test data is on as large a statistical sample and over as many trades as possible.
The only way to do this, unless you are a masochist, is automatically.

I don't really monitor FGB. I check it every now and then. I close it down for weekends. If I did monitor it I would interfere in it. I ensure that my server is up by having alerts that let me know if it's gone down but other than that I leave it to it. I only really check it to see if I'm making money or not and to compare it to the live account on here to ensure my broker is performing satisfactorily in comparison to Think Forex.

I agree that the equity line looks like a fairly smooth progression, however I think it's not possible to predict which ones will be winners and which losers. Take the recent losing run for example. How does that fit in to your strategy? You could have easily have jumped back in too early and then got freaked and because you don't have a trading plan you are then wondering whether to leave positions open or not. This is what it comes down to, trading is about acceptable risk and creating that sense of certainty ( whether or not it is illusionary ) in your mind that what you are doing will reap rewards. If you aren't trading to a plan that has proved itself historically then where does your certainty come from?

Totally agree with you, Steve.

😄
'The only way to do this, unless you are a masochist, is automatically.'

still up by 30 some% in 2012,pretty good if you consider that hedge funds have a hard time to make 20% yearly

Hi Steve can you show us what settings you use with this? I have FGB on default but it seems to take different trades than yours.

Hello,
Just to clarify this isn't my account. My FGB account is private so I'd be amazed if you're seeing it. FGB does take different trades sometimes, depending on broker but also you could see different trades at the same broker. You will get slightly different ticks even on the same broker due to latency etc. and one tick could make the difference between being in a trade and not being in a trade.

You need to compare your trades with this account over a longer term to consider if the broker/setup you are using is working for you.

If you're getting noticeably worse performance change your broker or your vps, or reduce the overhead on your existing vps if it's overloaded - although for an EA like FGB your vps performance shouldn't matter too much.

Best regards Steve

😀

I want to sell my FGB at a lower price.
if someone is interested in it,
you can send me a message
or you can send me a email gaogaojunfeng [at] qq.com

look like FGB is recovering...

Yep, that was some ride!

Hopefully now it can go on to make greater highs.

Nice market conditions for FGB!!

Lol now for the losses ;-) however if we think we had it good check the lads and lasses at https://www.myfxbook.com/members/WaltcoGroup/new-forex-fxtrader-live-ea/316142 - https://www.forex-fxtrader.com/forex-forum/omars-portfolio-settings/1649-forex-growth-bot-fgb-expert-advisor-settings-live-trade-updates-71.html - hats off to them for playing with fgb on other pairs...

stevetrade posted:
Hello,
Just to worse performance change your broker or your vps, or reduce the overhead on your existing vps if it's overloaded - although for an EA like FGB your vps performance shouldn't matter too much.

Best regards Steve

 Steve, could you tell me or maybe share a link how to mak a vps give one an alert when/if it goes down? Thank you.

You can do it in here for the update of your MyFxbook account.

Go to Portfolio > Add account > Messages Tab.

It should be fairly self explanatory. I generally set MyFxbook to update every five minutes and have a warning for say 7 minutes on messages.
Best regards Steve