Discuss ForexGrowthBot.com (Eugene Lipinsky)

[Albert.b]

Profits turning into losses!

As a 'trade picker' this robot has been really good!

There is an issue though of winning trades (some substantial) being closed out as losses!

I have contacted Support twice in the last seven days, about this issue.

So far they have failed to reply, so I am telling it here!

Below are copies of the two e-mails I have sent to Support.

*********************************
Hi support,

Last Thursday I sent you the e-mail below, to which I have not yet received any reply!

****************************

Last week's e-mail

I have been running Forex Growth Bot on a demo account and it has opened a series of trades
which at one time were showing a very large profit.

It seems to close out the trades very quickly when they go the wrong way, which is great!

However, it just does not work as well when a trade is well into profit!

Trades with large profits have not been closed out and have ended with fairly large losses.

It has closed out 6 trades for a profit of $158 and 5 trades for a loss of $148, leaving just $10 profit.

Theses 11 trades were at one time showing profits, into the hundreds of dollars.

There are still 5 trades open with profits of around $470, which at one time just 2 of these trades were showing
well over $400 of profit.

Those 2 particular trades are now showing only $236 of profit and still not closed out!

Any thoughts about this and can it be cured?
************************************************
E-mail 2

Since then it has got much worse!

It has now done a total of 40 trades on the EUR/USD!

It has closed 10 trades which were in profit for a total of + $176.01.

It has closed 32 losing trades for a total loss of - $648.00.

Over 95% of these losing trades were at one time showing a profit!

Quite a few of them at one time had substantial profits, yet they were allowed
by the Forex Growth Bot robot to end up as losers!

The largest single loss is over $53.00!

At this moment there are still 8 EUR/USD open trades, showing a combined profit
of over $1,400.00!

Because it is a demo, I am letting them run to see what happens.

I am sure though the robot should not be letting substantial profits turn into losses, before it closes a trade out.

If this was a live account I would have been manually closing some of the trades.

I think you will agree, traders do not buy robots and then expect to have to sit watching, ready to close the trades, to prevent losses.

So far as I can see, Forex Growth Bot seems to pick winning trades, which is what I want.

I then want it to be able to close trades when they are in a winning position.

I do not want to request a refund, but unles this problem is sorted, I will end up doing just that!

End of e-mails to Support!

***************************
If they can sort this problem, I think they have got a real winner.

PS Yesterday, it did the same thing on my live account, it picked out winning trades and closed them out as losers. The only winning trade in the sequence, I closed manually.

 

[Albert.b]

Update to last post!

Today Forex Growth Bot actually closed out a trade for a $35.00 profit!

At this moment there are still 9 open trades showing a profit of $1,728.94!

All these trades are 0.1 lot size, so really on this demo account run, it is the closing of the trades which are sending it all 'pear shaped'!

 

[ClickbankForexRobots]

Initial Review

Hi there, I'm currently reviewing this EA and so far I've seen a significant performance difference in different accounts. This I understand is not new information.

Today for instance I had 3 shorts open on an Alpari UK DEMO account over a space of an hour or so and close for a loss of over 75 pips. However, at around the same levels I had 3 buys open again within an hour of each other on a LIVE Collective FX account which are currently still open.

All settings were default using the basic version of the bot.

Also, I've had to email them twice now for the license and had no reply over a space of several days. Their support is very lack lustre. It seems they are having troubles supporting some of their customers. I hope this improves.

 

[f-man]

No trades on my demo or live account since the 24th....
I have to ask their support the reason.

 

[ny8wolf]

Identical

I haven't had problems my bot running significantly different to the one on FPA. It's been very similar, almost identical. Only two or three trades were different over a period of two weeks. I'm running with GoMarkets on a live account.

Performance wise so far, it's nudging towards disappointing grounds. It opens trades well and fails to close them with a good profit. They have to do something about this.

 

[Gert v Bruggen]

Today i got an Email from Support that there is a updated version

Hi Forex Growth Bot Members,

We worked diligently to create another update to
resolve a major concern some were having.

This issue did not arise on all brokers, but some have
had trade mismatches. We have just finished an update
that will make Forex Growth Bot much more efficient
with opening trades and closing trades on all types of brokers.

We HIGHLY recommend downloading this update.

We have included a new and improved installer that
works really well. If you have issues we can send you
the files for manual install.

We have improves the close previous trades function,
and we did not fix the restart mt4 issue just yet, BUT
we are working to fix it. We wanted to get this fix out
to you as soon as possible.

i did do some backtesting
before i did use
FastVolitality 8
Slow 60
Votality Factor 2.2
and they did give good results in the backtesting
now when i backtest with those value's it is not good
default settings are a bit better but stil negative results on the long turn

does anyone have some good settings
for the Basic version

or is backtesting not good for this bot

 

[Albert.b]

Just found out about this!

As a 'trade picker' this robot has been really good!

There is an issue though of winning trades (some substantial) being closed out as losses!

I have contacted Support twice in the last seven days, about this issue.

So far they have failed to reply, so I am telling it here!

Below are copies of the two e-mails I have sent to Support.

*********************************
Hi support,

Last Thursday I sent you the e-mail below, to which I have not yet received any reply!

****************************

Last week's e-mail

I have been running Forex Growth Bot on a demo account and it has opened a series of trades
which at one time were showing a very large profit.

It seems to close out the trades very quickly when they go the wrong way, which is great!

However, it just does not work as well when a trade is well into profit!

Trades with large profits have not been closed out and have ended with fairly large losses.

It has closed out 6 trades for a profit of $158 and 5 trades for a loss of $148, leaving just $10 profit.

Theses 11 trades were at one time showing profits, into the hundreds of dollars.

There are still 5 trades open with profits of around $470, which at one time just 2 of these trades were showing
well over $400 of profit.

Those 2 particular trades are now showing only $236 of profit and still not closed out!

Any thoughts about this and can it be cured?
************************************************
E-mail 2

Since then it has got much worse!

It has now done a total of 40 trades on the EUR/USD!

It has closed 10 trades which were in profit for a total of + $176.01.

It has closed 32 losing trades for a total loss of - $648.00.

Over 95% of these losing trades were at one time showing a profit!

Quite a few of them at one time had substantial profits, yet they were allowed
by the Forex Growth Bot robot to end up as losers!

The largest single loss is over $53.00!

At this moment there are still 8 EUR/USD open trades, showing a combined profit
of over $1,400.00!

Because it is a demo, I am letting them run to see what happens.

I am sure though the robot should not be letting substantial profits turn into losses, before it closes a trade out.

If this was a live account I would have been manually closing some of the trades.

I think you will agree, traders do not buy robots and then expect to have to sit watching, ready to close the trades, to prevent losses.

So far as I can see, Forex Growth Bot seems to pick winning trades, which is what I want.

I then want it to be able to close trades when they are in a winning position.

I do not want to request a refund, but unles this problem is sorted, I will end up doing just that!

End of e-mails to Support!

***************************
If they can sort this problem, I think they have got a real winner.

PS Yesterday, it did the same thing on my live account, it picked out winning trades and closed them out as losers. The only winning trade in the sequence, I closed manually.

After installing the latest update, I have just found out that if you close the platform, Forex Growth Bot trades are open on, then these trades are not monitored by the bot when it is reopened!

In the manual near the top of the page, it says that we 'may lose control' if the platorm is closed and reopened, which is a bit ambiguous.

It would be better if explained fully, alongside the 'Close Previous Session Orders' paragraph!

I only found out after the new install with the setting for closing on number 1, which gives me a choice.

When I opened the platform, it told me that the open trades would not be monitored by the bot.

If I had put it on 0 or 2, I would still not know about it, as I assume that they don't give me a choice (not tried it this way though).

 

[latino]

I am poor

Yes, I got both trades:1st one you mentioned was loser on my account too with -28pips.
The 2nd one is still open (opened almost at the same time as 1st one) and it is -52 now.
And there is one trade more open now, buy EU, now at +8 pips

Hi my friends,

could you provide me a copy of this bot, please? Because i dont have money to buy it. I am poor.
matata5000actyahoodotcomdotbr
cheers

 

[Albert.b]

Hi my friends,

could you provide me a copy of this bot, please? Because i dont have money to buy it. I am poor.
matata5000actyahoodotcomdotbr
cheers

Latino,

It won't work like that, it has to have an authentification key for each computer it is installed on!

 

[ClickbankForexRobots]

Getting Nervous

Hi again, I just want to pose a question. Do these guys really know what they are doing? Here is their latest email.

Hi,

If you downloaded the software in the past
12 hours you have the newest version.

We had many requests for a trailing stop!
And here it is. We did an update that will
let you set a trailing. It doesn't go by pips,
it works by a percentage below the take profit.

Next update we will incorporate pip calculaion
and next update will incorporate a fix for the
restart issue!

For those using FIFO we have found that results
can sometimes vary. As a result, we just improved
the FIFO system significantly.

So if you use FIFO, it is imperative you download this
update.

Simply login to members area to download Basic.
If you received a link from us for Advanced or Power
on the last update, please use it again.

Please be sure to delete the old files in MT4 folder.
Some requested that we put a version number on.

Unfortunately we didn't identify this new update, but
next one will be. To identify it, in the inputs tab
you will see the Trail setting.

Please let us know if you need assistance!

Forex Growth Bot Support

It's great that they are managing to update the software quickly but should they really not have thought about all this already. These quick additions make me nervous.

The jury is still out on this EA.