Discuss ForexRobotTrader.com

[walter lea emslie]

SteinitZ HAS

DO NOT BUY ANYTHING FROM THIS MAN!
His HAS EA lost everyone money.He then came out with another ea which also lost everyones money.Now this sick twisted scammer don steinitz is trying to resell his original HAS ea with optimized settings!Can you beleive this?He is trying to make people buy it AGAIN by sending them spam emails.Please do not buy anything from this man.You will lose more than just the cost of the EA.Both of his EA's lost money.He doesnt even trade himself HE LIES!

Look guys, the system works! If you run about 10 currencies at once, and you run proper money management, you win 7 out of 10 and might lose the battle but you win the war! Thats how it works! If you run it on 1 or 2 currencies, then you will lose! I personally use the system, yes I also lost money because I did not set it up properly!

Go look at the currencies he runs on his results page, and run all of them!

If You want to trade the opposite direction, you can set it to hedge and set your take profit to trade the drawdown and make money both directions!

Learn to adjust the settings, its like driving a car! If you in the wrong gear on a hill you will stall! Stop complaining and get with the program!

This Robot does everything and has power steering if you learn to drive it properly!!!

 

[Ken Long]

Look guys, the system works! If you run about 10 currencies at once, and you run proper money management, you win 7 out of 10 and might lose the battle but you win the war! Thats how it works! If you run it on 1 or 2 currencies, then you will lose! I personally use the system, yes I also lost money because I did not set it up properly!

Go look at the currencies he runs on his results page, and run all of them!

If You want to trade the opposite direction, you can set it to hedge and set your take profit to trade the drawdown and make money both directions!

Learn to adjust the settings, its like driving a car! If you in the wrong gear on a hill you will stall! Stop complaining and get with the program!

This Robot does everything and has power steering if you learn to drive it properly!!!

How long have you been running this EA? Have you run it through any major trend changes?

I remember testing the original HAS MTF EA at the begining of 09, and not only did encounter massive drawdowns which wiped out several peoples demo accounts, but it was also a CPU hog, and caused my computer, and the servers at several testing sites, to freeze up several times. The CPU problem was mostly fixable, simply removing all the HAS MTF indicators cured most of the problem, but the program still requires major CPU power, more than some VPS systems offer without significant upgrades.

Lots of people have claimed enormous success with this system over the short term. But I have never heard of anyone who did not have enormous problems with drawdown and losses over the longer term.

How do you intend to handle it when the long term trend changes. The EA will continue to open trades in the original direction untill the HAS indicator registers the trend change. That could be hundreds of pips right there. If the pullback corrects you could potentialy pull out of the losses, if the system doesnt close the trades automaticaly at the end of the month. If the pullback doesnt correct, and instead breaks out to a new and different trend, you could end with thousands of pips in unrealized losses (there really is no such thing as unrealized losses in Forex, just unclosed losses). It can be a lot of fun riding a trend for thousands of pips, but not when your desperately trying to dig yourself out of a hole!

 

[Walter Emslie]

Set The time frames & Also hedge

Hi

Set the settings so you trade the 1 hour time frame and not the 5 minute for entries so if there is a change in direction, you wont get pulled into the trade wrong and set it to hedge and set your take profit to trade the drawdown so you make money both ways!

Play with it!

I set the hedge to take profit 650 pips on the pound, so I make money on the drawdown and when it comes back, you already made the money!

If your broker wont let you hedge, go to : 100brokers.com and find a new broker!

Many Brokers allow you to Hedge!

instead of a stop loss, make money both ways so while you banking profits on a drawdown, others are being taken out on stop losses!

Or if you dont know how to set it to hedge, go to your online libraries in the MT4 platform, and go to Expert Advisors and download the EES Hedger and use it as an Advocate EA to the Stienitz! Very easy to set up!

 

[Walter Emslie]

Hi

Set the settings so you trade the 1 hour time frame and not the 5 minute for entries so if there is a change in direction, you wont get pulled into the trade wrong and set it to hedge and set your take profit to trade the drawdown so you make money both ways!

Play with it!

I set the hedge to take profit 650 pips on the pound, so I make money on the drawdown and when it comes back, you already made the money!

If your broker wont let you hedge, go to : 100brokers.com and find a new broker!

Many Brokers allow you to Hedge!

instead of a stop loss, make money both ways so while you banking profits on a drawdown, others are being taken out on stop losses!

Or if you dont know how to set it to hedge, go to your online libraries in the MT4 platform, and go to Expert Advisors and download the EES Hedger and use it as an Advocate EA to the Stienitz! Very easy to set up!

 

[Ken Long]

Hi

Set the settings so you trade the 1 hour time frame and not the 5 minute for entries so if there is a change in direction, you wont get pulled into the trade wrong and set it to hedge and set your take profit to trade the drawdown so you make money both ways!

Play with it!

I set the hedge to take profit 650 pips on the pound, so I make money on the drawdown and when it comes back, you already made the money!

Walter, I've read your posts and am going back through Don's EA manual trying to make sense of what you've said. I've always been very interested in this EA, and sure there was a way to get good profits out of it, but never really succeeded.

When you say you trade the 1 hour time frame, not the 5 minute for entries, do you use this as your Lower TF for both sets of trading conditions? If so, what do you use as the Switch TF, and the Upper and Higher TF's on Set 2?

Are you sure you set the Hedging feature to Take Profit at 650 pips, or 65 pips? This seems quite high either way. I never did activate the hedging feature, I was concerned it would try to enter counter trend trades and not be able to get out with a profit.

My biggest complaint with this EA was the constant and massive drawdowns it seemed to always get caught in. Hedging would help in these situations, but not if it came on with every counter trend move. As far as hedging goes, if we are going to try to hedge a position using the same position, we might as well just close the position, it has the same effect and lower costs.

If you have opinions on any of the other varaibles I would be interested. I'm setting up a new demo account to restart the testing and I dont want to simply follow Don's set file like last time. I'm interested if I can filter out any of the late trades that go into automatic drawdown, even if it means missing some profitable trades.

 

[mago]

your quote ea

This is a message I wrote to Mr. Steinitz after my drawdowns approached nearly 50 percent (and still going). Here it is:


Unfortunately, I am one of those people who fall under the category of "easily sold on hype." Last week and the week before, I used mechanical systems and a different very excellent robot to earn 350 and 500 pips respectively both of those weeks.




could you please send me info on your 2 systems you mentionned..thanks...mago2210@live.ca

 

[Ken Long]

This is a message I wrote to Mr. Steinitz after my drawdowns approached nearly 50 percent (and still going). Here it is:


Unfortunately, I am one of those people who fall under the category of "easily sold on hype." Last week and the week before, I used mechanical systems and a different very excellent robot to earn 350 and 500 pips respectively both of those weeks.




could you please send me info on your 2 systems you mentionned..thanks...mago2210@live.ca

And what were these mechanical systems, and this very excellent robot? ?

I have yet to find a practical way around the huge drawdowns this EA collects. It has plenty of filters that might help in certain circumstances, the problem is knowing which ones to run, and when. The only real way to avoid these drawdowns is with a lot of manual intervention. Such as only attaching the EA when there is a trend that you can see and manage, and removing it before the trend ends, and reattaching it once a new trend confirms.

 

[EricBubb]

Steinitz Fractial Breakout Indicator and Robot EA

I understand from Steinitz that both the Steinitz Fractal Breakout Indicator and Robot EA share the same logic for entering a trade. This I can agree with.

I have been trading the Steinitz Fractal Breakout Robot EA on a test account for 8 weeks it's never been in profit. After the first month I sent my trading results to Steinitz requesting he publish them along with the rest needless to say my trading results have never been published has never happened.

when I purchased the Steinitz EA I negotiated a copy of the Steinitz Fractal Breakout Indicator for MT4 included in the price. After a reminder 6 weeks later I received it.

Based on what I have seen for the last few days it's prity useless. It miss the big moves.

It gives signal to buy long right into strong areas of resistance and when the price does head negative fails to highlight the likely move.

I feel ripped off on the purchase of the Steinitz EA and I am glad I did not buy the indicator.

Over hyped and over sold

 

[Ken Long]

I understand from Steinitz that both the Steinitz Fractal Breakout Indicator and Robot EA share the same logic for entering a trade. This I can agree with.

I have been trading the Steinitz Fractal Breakout Robot EA on a test account for 8 weeks it's never been in profit. After the first month I sent my trading results to Steinitz requesting he publish them along with the rest needless to say my trading results have never been published has never happened.

when I purchased the Steinitz EA I negotiated a copy of the Steinitz Fractal Breakout Indicator for MT4 included in the price. After a reminder 6 weeks later I received it.

Based on what I have seen for the last few days it's prity useless. It miss the big moves.

It gives signal to buy long right into strong areas of resistance and when the price does head negative fails to highlight the likely move.

I feel ripped off on the purchase of the Steinitz EA and I am glad I did not buy the indicator.

Over hyped and over sold

Eric,

I dont own Don's fractal breakout system, but I've been interested in it for a while, and have studied it from his free videos and other sources. Its very similar to many swing trading systems that try to capture short term reversals. If your interested, Craig Harris's mentoring program, very expensive, has some good free videos on exactly this sytem of trading, Craig Harris' Amazing Forex Discovery!. You will need to opt in to get the videos, but its worth it and he doesnt affiliate spam you. He has a couple of unique and very good tips on using the Tokyo channel as a opening range, and the value of using whole numbers for support resistance targets. He's a little different than Don in how he determines his profit targets, but again, its very worthwhile info.

As far as capturing the big moves. I dont think this system is intended to capture the big moves on a small time frame. Its a form of range trading coming off of a fractal reversal. To capture bigger moves you would need to run it on a higher time frame for the signals and scale down to a lower time frame to manage the trades as a trend.

 

[fooshingyew]

Be careful of forex robot trader - Hidden terms & conditions

The owner of forexrobottrader "Don Steinitz" is not a steady guy, as he is running his client's robot in authentication, means he will hardcode your account number & that particular EA only be able to run on its account, as i was watching in his video, according to him, we would just need to provide him the account number, regardless which broker, just the number will do, ok fine, )then i had purchased robot from him & gave him my real account number, he had hardcoded to me the EA as well (means one EA only can run in one account}

Guess what, after few months, i changed my account, then i was asking him for help to hardcode my new account number as my old account was not trading anymore, then he started to give trouble on me in fussy way, came out all the hidden terms & conditions that he never stated clearly in his web policy by asking me to show him the report from broker to proof this and that, i was wondering as all his EAs are running authentication, means if your account is not under his authenticate check list, even you run the EA in your live account will show forbidden, infact he simply just need to remove my old account from his check list & update the new account will do, after all the EA that i purchased from him only will be running in a one single account at the end of the day, moreover, the account was not my personal account, that was my client's account that i was using his EA, it is not friendly to ask my client to do this kind of admin work and request from broker's report after all i traded on his account was not profitable, at the end, Don Steinitz reluctant to help & the product that i purchased from him just gone like that...

Secondly, i would not urge my friends to buy any robot from him, the reasons are:

1. The customer service is very bad, if we have urgent matter & email to him, he may revert to you in a week time or even no respond.
2. There is a restriction ,not friendly at all, he will ask you lots of question if you changed your account, make sure you are not trading on other people account or the account holder will need to submit the documents & etc and yet everything subject to forexrobottrader approval.
3. Essentially, i tested his robot non of one is profitable, he always like to show people the result in short term of period,like 1-2 week, hey guys, 1-2 weeks my kids also can perform it, perhaps better than him, infact long run results all losing, Guys, make your mind clear, you can see his results here, thanks for FPA to make it transference, you think you will buy this kind of unstable portfolio?

Go to forexpeacearmy web, click EA & select steinitz_has_mtf , or below is the direct link

Steinitz HAS MTF Metatrader Expert Adviser Test by Forex Peace Army. , if his EA really good, he should publish all in FPA, and he should email to people the longer of period like at least 12 months results, and importantly, not backtest results, why don't ? think about it...all are business gimmick, keep launching new products and at the end, they all pretty similar..:-( BAD results

Regards,
Foo Shing Shau
Forex trader