Forex-Goldmine.com Review

First off all Forex is a F***ing Business. But the Robominer Pro gives me a little chanse to survive. This Bot is the First of 24 well known Forex Bots that makes Money on my Account 22.- Euro the last 3 Days. 650.- Real account at least the Account has a Balance of 1000.- but the Others killed it till the last 4 Month. It is much more Control able than the Most other Systems, Just follow the Rules of Money managment and in Case Clos all Positions before you loose. But that is only the worst Case Scenario. I Like it.

I will not review this as I created the system that this EA uses. I was asked about the setting used on the demo account and will confirm that these setting are way to hot. With a 10,000 account, both the aud/nzd and the eur/chf should be trading .02 lots. A risky setting for this size would be .03 lots. >.1 lots is way outside the money management limits for this EA. This means that the results for this demo is pretty much meaningless and the demo should be restarted. We are recommending that the eur/chf not be used anymore as that market has warped and the trading area has grown too large to effectively trade. The new $10,000 demo should include the aud/nzd only with a balancefactor of at least 2500 or .04 lots if the fixed lots is used. Sorry no one had caught this before now. Bob

The people here who are bashing Robominer must not have read the description of how the EA is designed to work. I have been using it now for well over a year and it is working EXACTLY as stated it would. If you are not comfortable with the numerous open (negative) trades sitting out there, then this EA is not for you. They told you that right up front in their product description. Their recommended Balance Factor settings are crucial to this EA operating successfully. If you try to push the envelope (as FPA must have done) you will most likely blow up your account. They have even recommended that you stop trading the EUR/CHF pair now that the EUR has tanked and the pair has gone far below the EA's trading grid range. I do have numerous outstanding old trades of that pair, but with my Balance Factor having been set as recommended I am weathering the storm, so to speak. Hopefully the pair will recover and come back into trading range. Meanwhile, the AUD/NZD pair is plugging right along making me money each month.

I wanted a place to "park" some funds and get a better return on them than the banks are paying these days, and with the Robominer EA I have found the place.

My advice......if you don't intend to follow their directions on using this EA correctly then do not buy it. It does exactly what they say it will if you follow the rules.

Well....After 8 months of trading with Robominer I can only say that this EA does exactly what the makers say it will do, namely, "Set and forget" (but watch the profits trickle into your account) This robot is a must with it's money management and mathematical grid system that drops small but regular dollars into (in my case) a retirement fund.

I have been using the Robominer on a live account with IBFX for almost 1 full year. With a starting balance 0f $3000 on 02/06/2009 my current balance is at $4347 with a current drawdown at $1509 or 34%. The negative swap rate on the AUD/NZD is making this EA less attractive as well as the extended price points in both the EUR/CHF and AUD/NZD.
This is intended to be a long term strategy so don't expect riches overnight. May run into problems if margin requirements are changed from 100:1 to 10:1.

I demo tested the RoboMoiner and the RoboMiner Pro for over a year. I am an aggressive trader, so I set the lot size way too high for the size of my demo account. Even with that done, the EA worked as stated and had sucessful trade after trade. The problems arose when the draw downs started to get higher and higher. On more than one occasion my demo accounts were margin called, leaving me approx $1,500. from a $5,000 starting amount. At one time I had 54 swinners in a row. Gramted they were small, however they were winners. When I finally started to actually use the settings suggested in the RoboMiner Pro User Manual, I still had draw downs, not very large, yet was still achieving winner after winner. The RoboMiner Pro works on all currency pairs so I was experimenting with 6 t0 8 at any given time. In Nov 2009 I opened a live account and have been live trading since 18 Jan 2010. I am using the same techniques and settings that worked on my demo (after I smartened up and used the proper settings.) I have the EA on AUD/NZD, EUR/CAD, EUR/CHF, EUR/USD, GBP/USD and USD/CAD.
From a starting balance of 500 Euros, my account balance is now 575.90 Euros. I have a draw down of 67.55 Euros (strictly on the EUR/USD) but have had 26 straight winners, 39 overall winners and only 5 losses. I am VERY, VERY pleased and would highly recommens this EA.

RoboMiner
Hello,
I see the unhappy remarks about this product. I have been trading the RoboMiner system, live, for the better part of a year with good results, exactly as stated by the seller.
I do not like to bashing when it is uncalled for. IF you read the information, provided in detail right up front. Then you should have no complaints.This product does what it says it will do. Over and over. Draw downs : You have a no loss robot. Yes you WILL have draw down and some trades can and will stay for a prolonged period of time. You are told to manage your money for this. Like the spike we have now.The robot continues ,however to make money even in this higher draw down period.
There is no mystery. You are told that if you are a person that cannot take draw down : This robot is not for you.It's right up Front.
It's all there on the web site, go look.The ONLY robot you can demo free as long as you want before you purchase. So Lets re read the provided information; there for all to see.
Anyone interested in any robot should read before your purchase. This one you can read everyting up front, demo for as long as you like. If you did run a demo, you should know what to expect.
If you cant wait it out, get another robot, but get off these peoples back. By the way tech support is excellent.
Thank you
Roger Anacortes ,WA

Suggest you don't use RoboMiner Expert Advisor. It's the most horrible EA having down draw up to 60% with AUD/NZD. I have been using it for almost 12 months ago and I am still holding on to many open trades for almost 11 months ago with swap -$24. How can these opening trade close if the AUD/NZD never coming down to $1.17. AUD/NZD having been staying above $1.20 for so many months and I have been holding to these open trades for almost a year by now. I am planning to close all these opening trades with loses and stop trading with RoboMiner. The most horrible EA I have use. Stay away from this EA.

Cheers

Richard

Maybe I ended up getting the bad apple. I've had it for almost a week and all it does is lose money on me.

I appears to always sell the au/nz pair and try to stay in it long enough to catch a reverse trend if it goes bad.

Thing is so far all it has done is open losing pairs from the start and the trades stay open forever.

I tested Robominer on a demo account and have now been running it on a live account for over 2 months. I agree that it's the real thing, and is steadily profitable. Be aware that FPA is running it improperly, so they are showing a much higher profit than it actually makes with the recommended settings. If you look at the statement, you'll see that Eur/Chf has been running the correct lot size, starting with .01 lot and now up to .02 lots. Aud/Nzd has been running at .1 lots since the beginning, which is 10 times the correct lot size. This boosts the profit greatly, but if the pair moves toward the historical edge of range, it will blow up the account. I notified them of the problem, but they just replied back that the settings are correct.
So it's a great EA, I recommend it, but it won't make anywhere the amount of return they show if you use the recommended settings.

Review Moderation Team Note: The guys who do performance testing sent this reply.

Setting: Leave Lots as 0.0 fora auto-calculation from Balance
Lots=0.0