Forex trading robot (ForexRobotTrader)...

[Doug Reo-Cocker]

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.

Can you recommend Steinitz to put his robot on the Real Money accounts competition between EAs at Forex Robots Competition Trading Real Money That way we will know if the EA is worth something or not.

 

[Delphi]

Forex Robot trader

Strongly do not recommend this robot. Extreme caution. It does not do what it says, namely buy low and sell high. It bought at all time highs and never sells. It misses great opportunities and drawdown is very large. Winning trades are small and losses are great. Stay away.

 

[samantha16]

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

its a very good robot

 

[Pharaoh]

It did poorly in FPA Performance Testing.