Discuss ForexGrowthBot.com (Eugene Lipinsky)

[Albert.b]

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.

If you go back a few posts, you will see that I suggested incorperating a trailing stop into FGB!

It is much better to be a part of the EA and at the same time have a dynamic T/P where it moves with the market, rather than use extra software programs!

 

[GMTrading]

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.

Alejandro,

Could you tell me where I can find the trailing stop EA. I know there are lots on the market but I would be interested in the one you are testing. Also, when you say "to a top which I setup to 50 pips" does that mean that you are testing an ultimate take profit of 50 pips?

Thanks.

 

[Alejandro Lopez]

If you go back a few posts, you will see that I suggested incorperating a trailing stop into FGB!

It is much better to be a part of the EA and at the same time have a dynamic T/P where it moves with the market, rather than use extra software programs!

I totally agree: would be great if it incorporated the trailing and other stuff, but it would be going against his tactics in the EA, that's probably why we have to look for it ourselves. The creator expects his EA to get out of trades not by mechanical trailing but by his own algorithm.

Alejandro,

Could you tell me where I can find the trailing stop EA. I know there are lots on the market but I would be interested in the one you are testing. Also, when you say "to a top which I setup to 50 pips" does that mean that you are testing an ultimate take profit of 50 pips?

Thanks.

You can get the Trailing EA I'm using from this site:
Advanced Trailing Stop EA

And by the top limit, I mean that the Trailing EA is setup so when the trades goes into winning that the 70% retracement (wich I setup) reaches the 50 pip SL, it wont increase the SL farther than those 50 pips, so it becomes a fixed 50 pip SL.

The EA let you set an initial dinamic SL, and then take it to a fixed one, and even, let you setup a decay, so at some point the SL starts closing in trying to catch as much winnings as posible, but I don't like the decay in my EA since it wont leave space for the FGB to breathe an reach higher wins

 

[RASH]

Hellow

is it work on Bforex. i am in middle east.is this ea is profitable for us?

 

[Albert.b]

I totally agree: would be great if it incorporated the trailing and other stuff, but it would be going against his tactics in the EA, that's probably why we have to look for it ourselves. The creator expects his EA to get out of trades not by mechanical trailing but by his own algorithm.

Obviously the algorithm is not quite there and needs a bit of help as it is now!

Therefore it must need a bit more work doing on it and it could then become a great tool!

 

[Ben-jammin]

headed in the right direction

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.

I think this is a great step to an overall solution that we have been having with this ea. My ea is actually running quite well with my broker but I have also been having some vps issues. This week I have had only winning trades from the ea and it did not enter any of the losing trades as shown on fpa's statement. I will continue to run as is for now.

Also, I did notice there is a trailing profit risk setting under inputs. I haven't messed with it yet but I wonder how well it may help the ea out as far as letting winning trades turn into losing trades. Maybe I could try starting with a 20-25 pip trailing stop, if thats what the setting even is....??

I now have it running on another demo, same broker with 21 as the "trailing profit risk".... We will see what happens..

 

[HogDustWillie]

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.

Sorry i meant , I need to do more testing ..

 

[ejohnston5]

Trailing Profit Risk

I believe the Trailing Profit risk is a percentage of the profit you are willing to risk to get more profit.

If you set the TPR at 20 you mean you are willing to risk 20% of the profit as a stop. Lets say profit goes up 50 pips. The bot will trail a stop behind that profit at 20% or 10 pips. If the market flinches against you by 12 pips you're out. From what I can see, the smaller this number is, the fast you get stopped out with profit but it is much smaller. The larger the number, the more you are willing to let your profit go up and down in order to potentially make a bigger gain on an extended move. Using a zero here makes the bot follow the wave theory for setting and moving your SL on HH/HL or LH/LL depending on if you are buying or selling.

 

[James Niemann]

this EA requires optimization

HI everyone,
My first post, please don't flame me too bad. I have owned the upgraded version of this EA since the middle of January. I have tried it on demo accounts with eight different Brokers. All with vastly different results, and this was after strategy optimization for each particular broker. The Best results I had were on AskOBid, the broker recommended by the bot's maker. However, as a US investor this broker leaves some to be desired. So I have had it running on Alpari now for some time. AFTER optimization settings, I am getting around 7 percent a week positive trades. Not as good as the FPA live trade account, but for the minimal risk this EA trades with. It is perfect for me. You will notice in my post, several references to OPTIMIZE this EA. IF you dont, then it will never give you the best results. Also, please note that all the settings are explained in the notes included with the EA file. If you learn to set this EA correctly for your investing style and the brokerage you are using, I have no doubt it will be worth your while.
The author of the EA clearly explains, this EA is only written to work on EURUSD pair on the 15 min chart. I have tried extensively to get results on other pairs, charts with strategy testing and never had success. This is probably due to the proprietary coding that the author has done. Even being able to read the scripting in MT4 does not reveal all the complexity of this bot.
LET THE FLAMES BEGIN!!!

 

[ejohnston5]

Little to no flames

James,

As with any bot, you speak very clearly and factual. You have to optimize it for your broker and trading style. There really is no one size fits all.

James, can you share with us what settings you are finding that work for you and the Alpari broker you are using.

It is through many individual testing efforts and sharing those efforts that will bring the most success.