Discuss ForexGrowthBot.com (Eugene Lipinsky)

[RahmanSL]

Take the time to sturdy, learn, and understand trading the forex market. Then do your own trading and not rely and trade on someone's else's idea (EA/Signals/etc) to do your trading for you.
Might as well throw a dice for "Sell" or "Buy" and just follow what the dice shows. At least you got a fifty-fifty chance of success.

 

[Thomas Escovar]

Of course, wouldn't make so much difference, but the starting balance is USD 500.

There was a day in february it reached a USD 730 high, but ever since it started going backwards and is now at USD 600 give or take

Alejandro what broker are you using if you don't mind me asking?

Also, I'm not sure this has been addressed in this thread but I'm running on a fx open demo and getting wildly different results that the fpa test and your account.

What may be the cause? The demo broker or some other reason?

Thanks....

 

[HogDustWillie]

not much discussion here lately .... had three trades go off on friday, all ended negative.

 

[Albert.b]

Hi Albert

I'm new to this forum but have followed your posts with interest. I notice you have stuck with FGB and also, elsewhere, I noted you have traded Forex Overdrive in the past. Essentially, without corrupting this FGB thread, with which one have you had most success and feel most comfortable using?

I have the long evaluation process to go through, whichever I choose, but the way you use, or rather make FGB work for you is how I feel I would use it. Keeping a reign on it and taking profit when I felt comfortable.

Do you mind if I ask what sort of time you have to use FGB? Is it time consuming to trade and watch, manually?

I'd be grateful for you comments on FGB and Forex Overdrive.

Regards and thank you.

PS: I tried to send a private message but the system would not let me.
rm.checker@gmail.com

Hello RobM,

I said I was going to keep Forex Growth Bot, but last week on the last day of the guarantee, I requested a refund!

I am very disappointed to have to do this but I had a couple of trades which were showing nice profits, I had to pop out for an hour and I left them open (I did not follow my own rules)!

Big mistake!

I came back to find that they had been closed out with quite large losses, so I had just had enough.

If at a later date, I find out that this problem has been solved, I will re-purchase this product!

I will post my thoughts to you about Forex Overdrive, on the Overdrive discussion

 

[HogDustWillie]

Trades

Is everyone here closing out the trades manually or letting the EA do it ...

 

[HogDustWillie]

Ea opened three more trades this morning ... i am not 100% confident that it will close them outpositively ... trading negatively at the moment ... tends to buy after a nice run at the top and then you get some retracement and run the risk of getting stopped out.

 

[HogDustWillie]

Ea opened three more trades this morning ... i am not 100% confident that it will close them outpositively ... trading negatively at the moment ... tends to buy after a nice run at the top and then you get some retracement and run the risk of getting stopped out.

as i thought .. all three closed out negative ... this EA has had a bad run this last couple of weeks ... needs more testing.

 

[Alejandro Lopez]

Alejandro what broker are you using if you don't mind me asking?

Also, I'm not sure this has been addressed in this thread but I'm running on a fx open demo and getting wildly different results that the fpa test and your account.

What may be the cause? The demo broker or some other reason?

Thanks....

Hi Thomas. I'm running my account on Thinkforex.com as recommended by Eugene (FGB creator). And yes, maybe it has something to do with the fact that you are running demo, because sometimes demo account places an entry to inmediate price, wich in a real account might no work as fast.

But there are several factors: connecton speed, distance to your broker, this EA is really broker sensitive, that's why I chose the same broker as the creator, so I could keep track of my account thru his, checking we get the same, o aproximately same trades.

So far, great results for me: closing my first month live with 40% return, wich is good enough for me, even if I know it can reach higher profits, but increasing substantially the risk.

as i thought .. all three closed out negative ... this EA has had a bad run this last couple of weeks ... needs more testing.

The fact that an EA takes trades that end up loosing doesn't mean that needs more testing... at leat not necessarily. What you have to check is that in the long run, there are more winners than loosers, or as in this case, that if winners and loosers (trades) are similar, then winning trades should be larger than loosing ones.

If the fact that an EA is taking some losses means to you that it's not ready, then keep on dreaming, as your are looking for the Holy Grail wich doesn't exist: there's no EA that wins every time. I know there are some EA's in the market with backtests indicating over 90% win ratio, but let me see a real live account statement showing that, and I'll probably buy it.

FGB has real account statement showing results, good results, and that's why I bought it.

I have nothing to do with the people from FGB, but really get my nerve when people start putting doubt to what seems a truthful work, with pros and cons, but overall real good work.

Now: lets point the real down side: FGB has a major issue with the restarting of the platform with open trades, since it won't manage them once restarted, having to close manually. FGB doesn't have default SL so in case of connection or VPS shutdown, your account would be to the markets waves, could it make you win like hell, or loose everything, because your open trades wont close untill you log back in and manually do so. And right now, I'm testing a trailing stop EA to complement FGB because another issue is that sometimes it lets large winners, turn into loosers.

Nonetheless, still a good EA, making me some nice pips, probably adding some more funds this week, once I get confortable with the trailing EA to put a lock on my account in case problems come.

 

[Albert.b]

Hi Thomas. I'm running my account on Thinkforex.com as recommended by Eugene (FGB creator). And yes, maybe it has something to do with the fact that you are running demo, because sometimes demo account places an entry to inmediate price, wich in a real account might no work as fast.

But there are several factors: connecton speed, distance to your broker, this EA is really broker sensitive, that's why I chose the same broker as the creator, so I could keep track of my account thru his, checking we get the same, o aproximately same trades.

So far, great results for me: closing my first month live with 40% return, wich is good enough for me, even if I know it can reach higher profits, but increasing substantially the risk.

The fact that an EA takes trades that end up loosing doesn't mean that needs more testing... at leat not necessarily. What you have to check is that in the long run, there are more winners than loosers, or as in this case, that if winners and loosers (trades) are similar, then winning trades should be larger than loosing ones.

If the fact that an EA is taking some losses means to you that it's not ready, then keep on dreaming, as your are looking for the Holy Grail wich doesn't exist: there's no EA that wins every time. I know there are some EA's in the market with backtests indicating over 90% win ratio, but let me see a real live account statement showing that, and I'll probably buy it.

FGB has real account statement showing results, good results, and that's why I bought it.

I have nothing to do with the people from FGB, but really get my nerve when people start putting doubt to what seems a truthful work, with pros and cons, but overall real good work.

Now: lets point the real down side: FGB has a major issue with the restarting of the platform with open trades, since it won't manage them once restarted, having to close manually. FGB doesn't have default SL so in case of connection or VPS shutdown, your account would be to the markets waves, could it make you win like hell, or loose everything, because your open trades wont close untill you log back in and manually do so. And right now, I'm testing a trailing stop EA to complement FGB because another issue is that sometimes it lets large winners, turn into loosers.

Nonetheless, still a good EA, making me some nice pips, probably adding some more funds this week, once I get confortable with the trailing EA to put a lock on my account in case problems come.

It is not the matter that there are losses, we all expect them every so often!

The problem I have had with FGB is, trades which have reached quite a reasonable profit, too many times are not closed before they are in quite high loss positions!

When you have an EA, the idea is not to have to sit waiting to see what it is doing hour after hour.

If this problem is taken care off, it will be a brilliant tool!

 

[Alejandro Lopez]

It is not the matter that there are losses, we all expect them every so often!

The problem I have had with FGB is, trades which have reached quite a reasonable profit, too many times are not closed before they are in quite high loss positions!

When you have an EA, the idea is not to have to sit waiting to see what it is doing hour after hour.

If this problem is taken care off, it will be a brilliant tool!

I understand your position, but how do you determine when a trade is going to retrace all th way back, and when it's going thru a correction to reach higher levels? Since this is a long trend EA, then it's part of its expected nature to hold on to positions longer than others, and even allow taking some losses.

However as I explained before, I'm using myself a Trailing EA on a demo account to compare behaviour, and so far its doing good, and if it continues to work, I would be sharing here my results so people decide wether to use it or not. BTW it's a free trailing EA.

I hope, with the help of that tool, I will complete the circle of reacheng for greater profits.

Just to explain my point, the trailing EA allow you to start trailing as soon as the trade reaches a certain amount of pips in profit, in my case setup to 30 pips, and trails to 70% retracement of the pips gained, to a top wich I setup to 50 pips. That's it, It allows me to lock on some profit, but leaving a nice room for the FGB to let trades grow, but cuts the losses on profitable trades turning negative.