Forex trading robot...

Isabelle · (#1 (**permalink**))

Has anyone used the “Steinitz HAS MTF Robot” ?The owner has a website: Forex Robot Trader

If you have used this EA, may I have the benefit of your opinion and experience with it?

I'm thinking about buying it.

Thank you!

Isabelle

davidpriede · (#2 (**permalink**))

I just got it yesterday. I will be back-testing this week and set up a demo as well. If the posted results are true and accurate, they are quite good, but only forward testing will give the right answer to your question.

Cyclon · (#3 (**permalink**))

Does this look good to you?!!

This is their strategy tester from 1999-2007 on gbp/jpy - quite a while to make 13 grand and look at the drawdown! Those are DOLLARS!(drawdown is amount trade goes against you once opened).

Initial deposit10000.00Total net profit10818.44Gross profit13613.16Gross loss-2794.71Profit factor4.87Expected payoff52.01Absolute drawdown2113.32Maximal drawdown5426.92 (22.97%)Relative drawdown30.50% (3460.47)Total trades208Short positions (won %)0 (0.00%)Long positions (won %)208 (98.56%)Profit trades (% of total)205 (98.56%)Loss trades (% of total)3 (1.44%)Largestprofit trade4826.13loss trade-2775.75
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Also this has an Affilliate Sign up button on site. This means internet marketing armies will hawk this for the developer. Watch out for reviewers with agendas cuz they're not makin it in Forex Trading, they're makin it their chosen proffession of internet marketing. Nothing wrong with that but sometimes their tactics are less than honest and forthright.

Very NICE looking website though.

Good luck with your robots! And please keep your Eyes Wide Open.

Remember If there really WAS a software solution...
...everyone would have already retired.

Indicators and oscillators are all that the software and Expert Advisors (software) work on. An indicator is no more than a very simple robot. No match for complexities of markets. In too late and Out too early. You retired yet?

Cheers,
Cyclon

hUmaN_LiE_DeTECtor · (#4 (**permalink**))

DO NOT BUY ANYTHING FROM THIS MAN!
His HAS EA lost everyone money.He then came out with another ea which also lost everyones money.Now this sick twisted scammer don steinitz is trying to resell his original HAS ea with optimized settings!Can you beleive this?He is trying to make people buy it AGAIN by sending them spam emails.Please do not buy anything from this man.You will lose more than just the cost of the EA.

davidpriede · (#5 (**permalink**))

Thanks for the tip. You see it advertised here and you think that there is some quality to the expert advisor. Don lSteinitz lives in Vegas and he is a gambler (for real).

The EA is very intricate and full of variables to use and modify. It comes with a very technical manual. He does answer emails promply, but I doubt that he makes money from trading, but most likely from selling his software and referals to an FX broker.

I bought it becasue I design EA's with an ex-programmer of InterbankFX and it caught my attention. It is a very interesting EA, but I doubt that it makes any real big money. It keeps opening trades to later close the winners, but the problem is that he never closes the loosers. There is no stop loss right out of the box, but you can turn it on if you wish.

So, I would not buy unless you are very technical and have experience with EA's and have the time to backtest - a lot - with optimization settings. It is really a very impresive EA, and he has spent many hours of coding and testing. I have it sitting in my hard drive and I doubt I will ever use it for ve accounts. Since you do have to register it with a hard coded account number from your broker, you can have a copy of it if you wish to test it.

stabillionaire · (#6 (**permalink**))

i am a newbie.i read abt the robot but need to know more from those that have used it.just hollering

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hytten · (#7 (**permalink**))

Today marked 1 month since I tried Steinitz HAS MTF Robot. All settings was by default with 2k deposit, lot size 0.02.

By the 3rd week of trading, robot already made 50% and the max draw down was $700. Today the total profit is $1,282.48 and the drawdown is $600. So even if I closed all the trades losing trades today I still make $682. That's ROI of 34% for 1 month so to me it is still a very good system.

Now the reason why I say practise own money management is this: The robot went LONG for EUR/JPY first day of trading on Jul 28. Unfortunately the trend changed and if you check you would know that EUR/JPY has fell by 800 pip since Jul 28. I honestly doubt it will recover in the near future although I am still holding on to it, simply because I wanted to see if it will ever turn. To me it would be best to review the trades weekly to close some trades that has gone way off off the trend, the robot is unable to open new trades and the profit will slow down. So don't be greedy, take some loss and you will profit more.

For the sake of testing, I traded on another demo account with 2K deposit but at higher risk of 0.1 lot size. I managed to make 50% in one week but the drawdown was of coz greater. In my opinion it is not worth the risk because eventhough I was able to make 50% in 1 week, the subsequent drawdown lowered the ROI to 20%.

My verdict, I would not say it is 100% profit as per Steinitz but 34% return in 1 month by just reviewing my trade weekly.. I can definately live with that.