Discuss ForexGrowthBot.com (Eugene Lipinsky)

[f-man]

New update again

For those of you who haven't noticed, a new update is out since yesterday. Here the text of the email:

How are you? I hope you have had success with Forex Growth Bot.
We've had some great trades the past couple of days!

Just a quick update, we uploaded a new version to the website
that has some minor bug fixes.

1) The unknown ticket close in journal tab is resolved.
2) And it fixes a minor backtest bug issue.

Please feel free to download and replace your copy with this one
if you like.

 

[f-man]

Well... a number of things happened.
First - I didn't only configure it for EURUSD, I set it on all the currencies available to me to trade. It executed 14 trades, and 13 were winning trades at the time I went to bed. I let it run overnight to see what would happen by morning, and indeed in the morning I found out that my connection had dropped out about 30 mins after I went offline, so it was all sour.

So far during this London session, I have duplicated my setup from last night except that last session I was running on M15 graphs, now on M5 graphs. It has so far entered 23 trades, and only 4 have been winning trades.

Lesson - M15 seems to be the most efficient graph to work from for this EA.

Further to that, I noted the comments of several users who said this EA is great at picking the trades but doesn't TP very efficiently. In light of that, I will watch the bot for the next 10hrs or so and see exactly how it performs in that respect. I don't particularly mind even if I manually set a TP on each trade at +5pips or so - if it can get the direction right substantially more often than not I'll be well ahead (as long as not too many are JPY trades!).

Will update again soon...

You changed too many things in a very short period of time.
It will be difficult to keep the overview of all the changes and the reaction of the bot to them.

Keep us update with what happens except the EU. That would be interesting.

Always run your EAs on VPS. It is very dangerous to run them on your own computer, because of power failures, internet interruptions, working with many other programs at the same time and so on.

 

[Albert.b]

Keeping this Bot!

I have decided to keep Forex Growth Bot!

It is not perfect, but it consistantly picks trades that go into profit, which is how I like it!

I have decided to live with the T/P problem and hope it gets sorted, the sooner the better!

I know you can have it set with a S/L, but on demo this seems to be a fixed
price.

Maybe they should code it to have a trailing stop, so as not to retract back into losses, as it frequently does.

My strategy is not to let the bot trade, if I am not there to keep an eye on it.

When I go to bed or go out, I close down any winning trades and disable it until I am at my computer again.

 

[DeltaSeven]

You changed too many things in a very short period of time.
It will be difficult to keep the overview of all the changes and the reaction of the bot to them.

Keep us update with what happens except the EU. That would be interesting.

Always run your EAs on VPS. It is very dangerous to run them on your own computer, because of power failures, internet interruptions, working with many other programs at the same time and so on.

My starting point for testing was all currencies on M15. From there, I will eliminate the ones that perform poorly on a regular basis, and try the bot on different times (such as this session, on M5, and quickly discovered it's not a good idea in any way, shape, or form!).

I will indeed share the results of the other currencies - I've already reverted back to M15 and will stick to that as the basis for testing, being that's what Eugene said yields best results on the EU. I will share the results.

 

[DeltaSeven]

I have decided to keep Forex Growth Bot!

It is not perfect, but it consistantly picks trades that go into profit, which is how I like it!

I have decided to live with the T/P problem and hope it gets sorted, the sooner the better!

I know you can have it set with a S/L, but on demo this seems to be a fixed
price.

Maybe they should code it to have a trailing stop, so as not to retract back into losses, as it frequently does.

My strategy is not to let the bot trade, if I am not there to keep an eye on it.

When I go to bed or go out, I close down any winning trades and disable it until I am at my computer again.

+1 for not letting it trade unsupervised.

How long have you been using the bot, and on what pairs?
What percentage of your (it's) trades go into profit?

Also - RE the TP, is it possible to set a default TP in MT4 for all trades, perhaps at +10pips or so? I know you won't maximize profits that way, but you certainly will take them and keep them.

Do you habitually close out the trades manually, or do you let the bot do it's thing?

 

[Jassim]

How long have you been using it Jassim? On what pair/s? On M15, or other?

Its been like a month for me trading live. I trade only EU on 15m.

 

[Albert.b]

+1 for not letting it trade unsupervised.

How long have you been using the bot, and on what pairs?
What percentage of your (it's) trades go into profit?

Also - RE the TP, is it possible to set a default TP in MT4 for all trades, perhaps at +10pips or so? I know you won't maximize profits that way, but you certainly will take them and keep them.

Do you habitually close out the trades manually, or do you let the bot do it's thing?

I have been using it for about six weeks, using EUR/USD!

I don't know about the T/P, but you can always stick in a trailing stop!

I habitually (thats a big word) close out trades as I get a bit jumpy because it often takes winnings into losses if I don't.

%, low, that is why I close out manually!

If it gets on a strong trend, it is great!

Happy trading!

 

[Pipsi Max Australia]

G'day all!

Thank you for your posts and input. Its taken ages for me to find a reliable and good performing bot. I have been researching this bot since looking at FPA's latest Robot testing results showing FGB in the lead. I was wondering if I purchase this bot, which version should I get and should I set bot up to trade M15 chart, EUR/USD only? (which seems to be safe)

I noticed many posts talking about the T/P functionality not being very good, is there any other way of mitigating this other than closing trades manually? (which would be a pain living in OZ' timezone).

Thanks!!

 

[DeltaSeven]

Status update

Well so far, my experience has been the same as reported by other users - this bot is great at picking the trades, but is very poor at closing them out in profit.

Over 60 trades so far across a number of different currencies on different time charts, and of those 60 trades, 47 would have closed out at a +5 stop, and the rest would have closed out at a -5 stop. I'm considering applying the +5TP and -5SL on a live account to see how it goes - in testing so far over the last few days I would have been +170pips.

In addition to the above, I'll setup just the EURUSD on M15 on a live account and let it do what it wants.

 

[Pipsi Max Australia]

Thanks Deltaseven,

Surprising that the developers havent already identified this problem and fixed this issue. Otherwise in the short term,are you able to tell the robot what max T/P to close out on?

I understand that you'll let the robot do what it wants on EURUSD (M15). Do you find the bot trades and profit often on the EURUSD without needing to worry about T/P?