To use chat, please login.
Back to contacts

Forex Growth Bot

Gain : +2644.71%
Drawdown 94.46%
Pips: 8075.5
Trades 2881
Won:
Lost:
Type: Real
Leverage: 1:200
Trading: Automated

Forex Growth Bot Discussion

DiggerOfTruth
Jan 23 2013 at 19:13
46 posts
@Steve

Thanks for the replies and advices. You have not need to be sorry to tell me the facts. You are obviously experienced and I am not.

Before I forget: to all who are considering using a VPS - do NOT use VPSLand. They are a NIGHTMARE!! The VPS keeps FREEZING so that you can't even access the programs you need to. They only give refunds up to 14 days. After that, tough, they say. (I just checked and they have my VPS on 25% CPU priority. This appears to be the problem that causes the massive freezing.

The long periods of drawdown for FGB: it would seem to be smart to turn it off then and then turn it back on when things look better? Actually, their Indicator which comes with FGB EA appears to be doing better at predictions than the bot itself! Had the FGB EA made the trades its Indicator did, it would have been profitable. Instead, it's making BAD trades these past two days!! Hurting here. Hurtin'!!

Nerves of steel indeed.

I decided to make one trade on my own - the first live one - and it was profitable. Contrary to the trades FGB made this morning! I am liking its Indicator muchly so far. The results are immediately seen and positive.

Also moving to the (free with min. requirements) VPS at ThinkForex and hopefully they are much better than this VPSLand Nightmare. (But it's in the daytime! This shouldn't be happening!!)

You are very right Steve: forex industry is full of crooks, charlatans...etc.

The LORD bless thee and thine.

PS The Trailingator is supposed to help keep your profits in given trades. It does help. Works on any trade opened either by EA or manual.


li21
Jan 24 2013 at 06:30
29 posts
So to use this Trailingator ?

This is what I have noticed with FGB.. if you close a trade manually, the EA will noticed and reopen it .. which could be a big problem if its a losing direction

My guess is
You put it on a separate chart of EURUSD ?

And then turn

Manual Trade control = True
Leave
Internal controls = True

Would that work?

DiggerOfTruth
Jan 24 2013 at 10:27
46 posts
@steve:

Update: FGB over time seems to be a good bot. That's why I purchased it to try it. Strange thing: it came with it's own Indicator. At first I didn't know what such a thing was I was so new at this. I finally added it and put it on the chart. I found it is better at predicting when to buy than the FGB!! VERY weird.

So, tonight I am watching the Indicator whilst having the FGB still running too. I am seeing the Indicator make continually great recommendations. Then the FGB starts doing stupid again. Making trades in all the wrong spots then stopping losses so it loses - I lose. Hmmm.

I say to myself: If I made the trades that the Indicator made I would be winning. Continually. Hmmm. Well, here goes. So I did. And I did again. And then I made more big trades (10 lots at a time) without the Indicator putting up a dot either way. I just went with the flow. I almost doubled my account in a few hours!! HalleluYah!! Glory to God!! (And this was after one of the most Hellish days in my life. I wonder whether the demons knew I was going to find out how to make funds in such an easy way....so they tried to head me off at the pass.)

In any case, I shut off the FGB after trying to close bad orders - at 0.25 lots a piece - only to have it open orders right after I close them!! But I keep the FGB Indicator open. :)

Thought you'd like to hear of my success in such short shrift.

Thanks again for your replies Steve. Means much to this soul. Yah bless you and yours.

PS As a bonus of trading in larger lots, I'll also keep the bonus ThinkForex had for me. (To fulfill the contract for the promotion I have to make 400 full lot trades in 60 days.) I'm thinking of HotForex's 50% bonus now that I've become a trader in my own right!

stevetrade (stevetrade)
Jan 24 2013 at 10:39
1408 posts
Hi,
Thanks for the update and I'm glad you had success with the indicator. The indicator is exactly the same one that FGB uses but out of the box the indicator has different settings, so it will show different trades. Try backtesting FGB over an extended period with the same settings as you have on the indicator and carry out a comparison with the default settings of the EA.

If you read back a few pages in the thread you will find that someone thought he had found some better settings for the EA because they backtested well over a short period. He appears to have since disappeared from the thread and there in lies the key and one of the fundamentals of trading. Plan your trades and trade your plan.

The default settings of the EA have been proven to work over the full available historic data in backtesting and have proved themselves here live trading. Anything else you use ( Trailingator, manual trading etc. ) should be subjected to the same rigorous testing standards or in effect you are gambling as you don't know what your likely outcome is and have no standard to measure your performance against. And that may well be your thing but just be aware that gamblers more often than not end up broke in a trading environment.

Best regards Steve

DiggerOfTruth
Jan 24 2013 at 11:17
46 posts
I'm in the process of quadrupling my account tonight - in a few hours. I'd have done it sooner but I didn't have enough margin. Trading 40-45 lots at a time now. Before I go to sleep.

I never knew making this much money could be so easy once one knows how. It's easy. Don't rely on measly bots...LOL! Even ones that are 'good over the long term'. Trade well in a few hours and you have made it...:) (I am not waiting for or really watching the Indicator now...)

Blessings Steve.

stevetrade (stevetrade)
Jan 24 2013 at 11:33
1408 posts
*sigh*

Best of luck with that.
Steve

duzyfx
Jan 24 2013 at 11:43
257 posts
@DiggerOfTruth:
not to sound too pesimistic but if you won't stop overtrading with overleverage the forex market will teach you a lesson in a not so long future; so stop, enjoy the gambling winnings and do not give it back ...

stevetrade (stevetrade)
Jan 24 2013 at 11:57
1408 posts
If you need to learn a lesson personally then here's what I recommend.

Take half your account out now so that you at least have doubled your initial investment and then carry on trading the same way.

That way once you learn the lesson it won't hurt as much.

Best regards Steve

li21
Jan 24 2013 at 12:34
29 posts
Yep what Duzyfx said..
I've learnt the hard way.. will probably never make back what I lost in my 'gambling days'
But sooner of later leverage will catch up with you..
Reason for my lack of success has always been over exposure by not trading the appropriate lot sizes for my capital.
Also I don't trading large to earn rebates .. sorry if i sound negative.. I've nearly given up many times.
Fx or any other leveraged trading instrument is extremely dangerous

dantel (dantel)
Jan 24 2013 at 12:35
9 posts
It seems that, in the absence of any competing live forward test that beats FGB in the long run (eg any successful FGB+manual exits), one way I am thinking of trading this is as follows:
1) no manual intervention;
2) assume no gains will occur for at least 12 months;
3) hold on for the longer term;
4) trade no higher than lot size recommendations; and
5) try to start after a down move (eg now) and/or add to the investment after a down move.

Please login to comment .