1. This site uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Forex trading robot (ForexRobotTrader)...

Discussion in 'Has anyone heard of?' started by Isabelle, Apr 12, 2008.

  1. Isabelle

    Isabelle Recruit

    Joined:
    Apr 11, 2008
    Messages:
    3
    Likes Received:
    0
    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
    :D
     
  2. davidpriede

    davidpriede Recruit

    Joined:
    Apr 13, 2008
    Messages:
    5
    Likes Received:
    0
    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.
     
  3. Cyclon

    Cyclon Company Representative

    Joined:
    Oct 3, 2007
    Messages:
    300
    Likes Received:
    4
    Does this look good to you?!!

    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
    ======================================================

    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
     
  4. hUmaN_LiE_DeTECtor

    Joined:
    Nov 8, 2007
    Messages:
    9
    Likes Received:
    0
    Do Not Buy Anything From This Man!

    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.
     
  5. davidpriede

    davidpriede Recruit

    Joined:
    Apr 13, 2008
    Messages:
    5
    Likes Received:
    0
    Tested it and here is my findings

    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.
     
  6. stabillionaire

    stabillionaire Recruit

    Joined:
    Aug 17, 2008
    Messages:
    1
    Likes Received:
    0
    helloo

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

    hytten Recruit

    Joined:
    May 19, 2008
    Messages:
    1
    Likes Received:
    0
    Yes worth the money but practise own Money Management

    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.
     
  8. johncobb

    johncobb Recruit

    Joined:
    Jun 11, 2009
    Messages:
    2
    Likes Received:
    0
    How to set up stoploss on Forex Robot Trader?

    Hi everyone.
    I have Forex Robot Trader version 3.14
    I want to set a stop loss on it but whenever I try it in ATR inputs it returns to previous setting which is 0.
    How can I set a stopploss on this Robot???
    After 4 weeks of testing this Robot makes small profits but has a large drawdowns. My demo account started with $10,000 and now this robot made $3,300 but its unreleased profit/loss is -$4,300 because there are 3 large trades going for 3 weeks with huge losses. You may say that I should let the robot do its work as I read it many times and should wait for the market to change direction on the loosing trades, but I am not a millionaire and can not afford to wait for margin call.
    I think that if I could set a reasonable stoploss then this robot could be profitable because that it makes many successful trades.
    Please could someone let me know how to set the stoploss on this robot???
    I also read a post (I can not find it now) that setting the time settings to 4 hours only will help as the robot will not look on a longer time frame.
    Please comment that also.
    Best wishes to all and waiting for help.
    John
     
  9. 53doc

    53doc Recruit

    Joined:
    Jul 3, 2009
    Messages:
    1
    Likes Received:
    0
    Steinitz HAS MTF HEDGE robot

    I used the HEDGE robot on a live account. However, in a month and a half, the drawdowns wiped out my account.

    I obeyed Don’s advice and used the default settings right out of the box. Don markets his HEDGE robot as a “no-loss” robot. He says to turn it on and walk away. I did and I lost. Therefore, Don has no justification in contrast to the loss of my account because of using his HEDGE robot.

    When I told Don what happened, rather than asking for details, he hastened trading statements to me sent to him from his flourishing consumers, consumers who used his robot and made money a few times. Of course, this bulletin didn’t undo my losses.

    If you dispute his claims of fortune, Don changes into a defensive posture and will not admit that his robot does dissatisfy many who use it. He is charismatic in his webinars, as he wants you to continue buying them at $49.00 a webinar. However, once you buy his robots, you will be on your own and your account will be at risk.

    Be careful.
     
  10. Raimundas

    Raimundas Corporal

    Joined:
    Sep 29, 2009
    Messages:
    87
    Likes Received:
    7
    Stops aren't resort

    Stops aren't resort :mad:...
    It's because a part of potential successful trades will turn into the losing trades.
     

Share This Page