ForexSuperRobot.com Review

Hi after a month of demo it now has 62 open trades for -2600$ of floating drawdown for +875$ of profit on a 3000$ account using 0.01 lot per trade. It can't handle a falling market like USD/CHF and keeps opening trades in the opposite direction. Stay away or pray for being lucky with it!

It's still early days for me, so I won't leave a * rating just yet. But a few comments.

This looks very much like the old "cable run" system for GBPUSD, the only difference being it runs on 4 pairs, not just one and of course, it runs 24 hours, which CR didn't for the sake of safety.

I have noticed a bug in my early use where it sometimes will leave limit orders behind after closing a group. When this happens, you'll come back to see the thing with no live orders, the single limit order (a buy or a sell) & price moved away from that order. Manually closing the order gets it to set new orders and fixes things, but it means you'll have pairs dropping out unless you keep an eye on it. I've contacted support about this, but no answer yet.

Regarding the notion of keeping the number of orders to a manageable level, that one makes sense. However, you wouldn't want the system to just close a group & eat a huge loss. What makes more sense, is to have the ea monitor for when the ea has a huge number of open orders & when it "sees" this waiting until ALL the open orders taken as a group can be taken down with minimal losses & starting over. It's possible currency pair diversification may be helpful for that purpose, and this could be automated, though it would likely require another ea to provide that integration. Unless it took as inputs the magic numbers used by the other eas, you couldn't run another ea in the account. There's nothing keeping you from doing that manually, of course, and I do, but it's a hassle. Nevertheless, doing that would add substantially to safety & stability of the system.

I'm not sure how much diversification you get from these 4 pairs as they're all US dollar based. I don't know how much protection you get from their position sizing & how valid that is. Still, I would have grave concerns over leaving the thing going with open positions over a weekend. The thing is a pure grid, just like cable run was and this has both positive & negative implications. Waiting for a retrace that may come some day or never with 100 or so positions eating into your capital with trading essentially suspended for the pair can eat into your psyche like cancer.

Will post a further review when I have more experience.

These people seem to have manipulated results. A large number of losing GBPUSD trades from 18-21 July are not in the FPA results.
They do ot show open trades and then manipulate results. Also it is a martingale type of system. Beware

Ok, this is an interesting EA. If you look at the closed numbers for the EA, it is AMAZING. I bought it based on that fact that it's equity curve was very steady and the losses all seemed to be pretty mild. After purchasing the product, they inform you that you must have $40,000 in your account to trade 0.10 lots!!! I thought there must be something wrong with that. I have 200:1 leverage and why would I need $40K just to trade 1/10 of a lot??? Well, after the first week, I was impressed, it had closed out over 1000 pips of profit!!!! Only problem was I was left at the end of the week with 19 open orders with a floating drawdown of over $800!! I contacted the developers and they said it is part of the strategy and orders would be closed on retrace. Well, the market opened against the orders on Sunday and continued to go. At one point I had over 35 orders open!!!! And that quickened what happened next. Obama made the speech on the debt and the market rocketed against the orders and wiped out the account from using all the margin. Now I'm giving it 4 stars because when it was working it banked A LOT of pips AND I didn't use the recommended account size (I used around $3000 account to trade .10 lot instead of the 40k they recommend).

My conclusion is this: Great robot IF it closed out losers before they got out of hand. Adding to losing orders is fine if there is a relatively quick reversal but if the market keeps going, it's better to cut the loss. Their strategy is dangerous. I saw another guy had over 100 orders open at the same time!!!! If I use this robot in the future I will manually close down the trades if more than 5 are opened for the same pair (it trades 4). The trades it makes usually makes are great, very frequent, and rack up a lot of pips. But from my experience with this product, if you don't cut the losers before they get to 10 OR MORE orders on the same pair, then you are going to feel some pain from this EA on a big market run.

I think the developers have made a great system with horrific money management and if they fixed that it would be a really awesome product.

Having a super huge floating drawdown isn't a good way to trade and it's missing out on other trades it could make while waiting for the market to retrace on a string of losing orders. And remember that it trades 4 pairs so 10 losing orders becomes 40+ very quickly.

Something serious may be up with the demo account on this.

At present i have over 130 floating (open) trades. Yet only 1 open trade shows on the FPA demo.

Review Moderation Team Note: The FPA demo is set to only display the total floating P/L from open trades, not the individual trades.

Is the demo robot different to the one FSR are selling? There's no facility in the one sold to set the maximum number of trades. You just have to roll with it.

You might think i accumulated all these open trades over several months. I only started my demo on 12 July.

Well everything is fine and steady... no additional stress on drawdowns... I made about $300 the other week...

good-it's more proper valuation for this product

2011-07-07 Bought it about two weeks ago.
Results are rather stable it seems that robot likes trend markets more. Also noticed that robot some times goes into small floating minuses, but when you are not over margin account and fallow the MM rules everything returns to small profits. Therefore I’m not expecting 100% in a month but on the other hand profits are crawling in the right direction.
You know two weeks is relatively small period, so I’m just sharing my feelings.

Hi Anthony!

We have met several complaints about minimum deposit. So the answer is - Yes, you can use even $40 not $100 to trade Forex Super Robot on Cent accounts.

You can use Cent account, and that means that you will need as much as $40 to trade. Meanwhile this $40 will be displayed as $4000 on your MT4 account and you can use the minimu requirments of 0.01lot.
There are a lot of brokers who offer cent accounts and as I said you wont feel the difference on your MT4 because 1 cent will be displayed as 1 dollar

We hope that cleared the situation.

Best regards,
Forex Super Robot Support

Based on this EA performance I have to give it 5 stars. I started it on 7/6 with $111.88, as of 7/8 it has earned me $81.39, now my balance is 193.27. I now it's too early but so far so good, Regards.

Well...I have nothing good to say about this robot. #1- I can't use it. #2-I can't use it because I don't have enough money to trade it safely.

Why you ask? They don't tell you this anywhere until AFTER you pay for it and download the manual. IF you trade with a 0.01 lot size, you need a MINIMUM account balance of $4000. IF you trade using a 0.1 lot size you need a MINIMUM account balance of $40,000.

So....I will be immediately getting my money back without ever even having tried it.