FX Robot Discussion

Didn't realise you could lose all the discussion history from a robot by deleting it and then adding it again.

That's a nice trick to use to remove any comments that you might not want other people to read.

So, here's a brief synopsis of Dominic's robot.

1) He claims the broker is Alpari - however we have seen open trades with four digits. I have screen prints of this. Alpari is a five digit broker.

2) Several people have bought Dominic's robot and cannot get it to work with live accounts.

3) The account belonging to NYDUDE and this one where created with MyFxBook account numbers within one or two digits of each other. Coincidence?

4) NYDudes account was deleted and then reinstated. Again after some rather inflammatory comments within it. Originally NyDude claimed he was using Alpari. I also have screen prints of NyDude with open four digit trades. He now claims it's FXDD and Forex.com.

Anyone else remember anything else that was on the discussion? Can't have an unfair representation of things to the public now can we?

no, he just deleted the other one and created a new system with the same name ...
however here's the old system with all the comments:

http://www.myfxbook.com/community/trading-systems/fx-robot/25681,1

must have been bad for business ...
also this account shows judge withdrawals ... as opposed to the other one ... that the withdrawals magically disappeared ...

Well found!

I have this robot working on real account, makes very few trades though - 10 or 20 trades a day, it is up and down. I have made 30 pips this week while trying different Master combos... I am using an old version of this robot. I would like a new version if anyone has it, otherwise I need to code the new parameters myself...

I have talked to my brokerage about the use of it and they it is fine because they are a "no risk" broker, a few trades are not filled but at least I am not rippping the broker off when using this robot, they make sure the liquidity provider can handle the trade instead of taking the execution and hoping they can get it with the liquidity provider. When I have this working properly I will be setting up a managed account with 3 dedicated servers running master slave combos... it uses a butt load of resources. It will be $300 hundred minimum and 20% Management fee on high water mark, any help would be greatly appreciated.

I have spoke to dominik, when I didn't immediately buy the robot he stopped responding, there is many versions of this bot on the net, he is not the first to rip this code.

Damon

I don't think the trade replication will work for this arbitrage / lag trading strategy ... you need a dedicated server with reserved resources (not a VPS) that's close to the broker + the EA that runs on its own ... if you add replication then it probably won't work anymore ...

What do you mean "replication"?

I think I could have mis-understood you ... I though you meant that one instance of MT4 would give signals to other instances ... that I meant by replication of orders

Original System Discussion:
http://www.myfxbook.com/community/trading-systems/fx-robot/25681,1#?pt=2&p=4&o=25681

How this system works and why the EA "knows" the future price:"Works by using a kind of arbitration between two brokers, there are marked differences in the speed at which prices are updated making it possible that there are several Pips difference between them, thus know very which will certainly be the price in the next seconds (see the price of the broker (fast) and buy or sell in the slow), obviously everything should be as automatic as you have little more than 1 second to act."

Basically this is illegal and won't work on live accounts using reputable Brokers (you will also note their hidden Broker name).

If someone has a system truly making such profits he/she would never sell it 🙄

There is nothing illegal about 'arbitrage' trading. Any hedge fund worth it's salt uses 'small margin guarranteed profit' strategies. These strategies are difficult to implement and only a few can do it profitably. With increasing popularity of high frequency trading, this trend is bound to increase.

These ideas are as old as time, but only implmentations keep changing with time & markets.

Index Arb is the biggest example, though more complicated than just spot trading. Mispricing is common in both spot, future, options market for any commodity .. and if you can use the edge .. it' s your's to keep !

"You just can't arbitrage in the modern Forex market as it's "superliquid" and the prices are always absolutely balanced."

this and more extracted from: http://www.earnforex.com/forum/f9/arbitrage-trading-896/

like2fx posted:
There is nothing illegal about 'arbitrage' trading. Any hedge fund worth it's salt uses 'small margin guarranteed profit' strategies. These strategies are difficult to implement and only a few can do it profitably. With increasing popularity of high frequency trading, this trend is bound to increase.

These ideas are as old as time, but only implmentations keep changing with time & markets.

Index Arb is the biggest example, though more complicated than just spot trading. Mispricing is common in both spot, future, options market for any commodity .. and if you can use the edge .. it' s your's to keep !

I agree -Any STP brokerage will allow this EA. Bucket shops (who take the risk) will not, you are cheating them from the pips they are trying to cheat you out of.

I have an edit... almost 2 weeks in my live account and I cannot get it profitable... with any setting... even reversing the trades it would not work, I have been thinking about buying a super fast market feed to try that... but I am already getting bored with this robot... And totally pissed that there is some douche out there trying profiting from stealing some code and selling a dream. He'll get whats comin :)

primevalea posted:
"You just can't arbitrage in the modern Forex market as it's "superliquid" and the prices are always absolutely balanced."

this and more extracted from: http://www.earnforex.com/forum/f9/arbitrage-trading-896/

Wrong Arbitrage, they are talking about multi pair Arbitrage in that forum, and the guy who posted that reply is thinking one pair price lag Arbitrage. Totally different. There is no such thing as "absolute".

I can agree that most brokers will not allow you to do so. Check the performance of the ea in my profile, it is on demo, the settings are conservative. It works great and can be commercial product, but no one will let it earn on real accounts. The only way you can make it work is to agree with broker certain % of daily income (with account 50 000+) and pay commission fee from each trade. The ea in my profile is for private use only, do not ask me to sell it.

This live account is more than likely with Global Clearing Group. In the past this broker has allowed a few traders to have success with this EA, but they usually manipulate prices against their clients. Hopefully the next version of FX Genius will work this well with more reputable brokers.

If SOME ONE HAVE THIS ROBOT CONTACT ME, Im OWNER TOO
SEND A PTIVATE MENSSAGE ONLY OWNERS

Hi Setrox,

wow, you are the owner too. I don't remember that I was working with anybody else on it or selling the copyrights. Sure, you might be an owner if you bought a copy from me which I don't recall or stole it. Or made a copy later. Anyway, enjoy your ownership. Congratulations.

Hello Dominic, i sent you an email exaclty 2 hours ago, i asked many things, maybe you did not have time to answer me yet. Please, reply me with every answers, i will be great to try to purchase the EA.

Below you can see the email too.

Hello Dear Dominic Millan,

Nice to contact you !
I m trying forex market since long time ago. I know the opportunity of this market, but i do not know how make money consistent with him yet. I tested many Expert Advisors (EA), i lost a little money with some and i tryed others free EAs that have in some foruns and on the internet. I did not test 1 week, but over 2 weeks or till 1 month and never worked and brought profits to my demo and live accounts.

I saw in MyFxBook www.myfxbook.com/members/DominicMillan/fx-robot/33162 your EA and your phase ( This is my own system. I am sharing it with other traders. If interested mail me at [email protected] )

PLEASE, ANSWER ME THE QUESTIONS BELOW, I M INTERESTED TO LEARN AND IF POSSIBLE BUY YOUR SYSTEM !

My questions are, Your account opened in MyFxBook is LIVE ACCOUNT ?

1 - I have a live account with MIG Bank, small, with around $250, can i use your system in this live account ?

2 - What difference use your system to ECN feed or market marker like MIG Bank ?

3 - I tried every account in your website to watch, but did not open every, some is invalid, but ok ! Can you send me some login/pass/server of some live account working daily to i watch ?

4 - Can you send me your EA demo version to test some days ? Or live version to use 1 week for example ?

5 - Your EA works same in DEMO and live accounts ? Live account do not get requotes because its scalp ?

6 - I saw you are selling your fantastic EA by $2000, can you give me disccounts please ?

7 - Can you put your system on $500 in my MIG bank live account, make money and i pay you ?

8 - What much robot do you have ?

9 - Can i refund back my money if your EA does not work in my live account ?

10 - $500 in my live account, MIG bank to $2000 profits, can i make in how long time ?

11 - Can i use the robot to many accounts in my name or family name ?

12 - i m watching your account number 1108068 with $6750.93 now, i m watching it, this is demo, right ? Your system is a big scalp, can its work in live account ? i think will be not allowed ! Tell me how are you using it to live account please !

Sorry ! Many questions, but the market is crazy, maybe i m crazy, etc...have many falses people and products on the internet !

Please, answer me every questions, i will be happy and glad.

I hope can purchase the Robot ASAP !

Regards, sorry many questions, you will help me a lot answering.

Hugs

All I want is just one single person who bought this to vouch for it.