Forex Robots (live EA results)

[Wysiwyg]

Yes, here you go

Hi, do you know if the trend direction changed significantly at the 196 mark on the graph?What is it with the downward steps?

 

[Stormin_Norman]

my guess is that's when the fed went and printed money.

 

[electronicmaster]

Hi, do you know if the trend direction changed significantly at the 196 mark on the graph?What is it with the downward steps?

Yes correct. The USD index droped and that put the EUR/USD in a stronger position, twice. Even if you had used Fap long term (unmodified) you might of been stoped out 500 pips up from the bottom. Talk about bad luck. I lost around $200 (first bull) to $300 dollars (just before the biggest bull move).

If I just used the scalpers, that would never of happened.

I'm just looking at this 4 hour chart now. EDIT 9th and the 16th of march.

 

[pilbara]

Hi, do you know if the trend direction changed significantly at the 196 mark on the graph?What is it with the downward steps?

as discussed earlie the thread, the "long term" fapturbo (which has no stop loss) took a bunch of short positions against the euro, predicting it would break down through the 1.25 level. This is probably a central bank level at 1.25 but I guess fapturbo didn't know better. So EM had to manually close the trades as they were caught out by a 100 pip move upwards. This appeared to happen a couple of days later, again caught out by another 100 pip move, having to manually close the trades. So the "long term" fapturbo without stop losses bit the dust, luckily before the 400 pip move a few days later ...

 

[Wysiwyg]

as discussed earlie the thread, the "long term" fapturbo (which has no stop loss)

Thanks for the explanation e.m. & pilbara & stormin.

 

[Stormin_Norman]

it made the bunjip very angry too.

i didnt wait for it to calm down. i just locked it down and shot it with a tranquilliser dart.

 

[electronicmaster]

I just got an email from the Fapturbo team. They have a contract with a ECN broker that uses the Metatrder 4 platform, FXCBS.

This is what was written in the email I got from the Fapturbo guys:-

We called out and one of the first broker that listened was FXCBS. This brokerage welcomes fapturbo clients with open arms and offers:

- Anonymous ECN trading via MT4 (means awesome conditions for fapturbo users)
- No Dealing Desk (they do not profit when you loose)
- inter-bank prices & liquidity (no more small profits only but fapturbo can run as fapturbo was meant to run!)
- Spreads as low as 0.1 pips
- Competitive spreads on FapTurbo`s trading pairs (EURGBP & EURCHF)
- Mini lots trading (10,000 of Base Currency)
- Scalping is welcome (hallelujah)
- No Re-quotes (orders WILL be executed)
- 24/5 Customer support


I might open up a demo account. I have never used a ECN before.

 

[Stormin_Norman]

i cant find them here : http://www.brokerontop.com/overall_futures_commission_merchant.htm

plus US$8 ( about 0.8 pip) commission.

wonder how close to their real account their demo is.

reviews:

forexpeace army:

Claims to be a Delaware corporation with a Chicago address, but is NOT registered with the NFA.

The FPA advises against placing any funds with this company until this can be clarified.

apparently theyre actually out of dubai.

forex justice:

Since it is very difficult to find a true ECN that uses MT4 with a low deposit requirement, I found this broker very attractive. I was also impressed by their mission and vision statements.

However, after multiple inquiries to the company to several of their e-mail addresses ( support@fxcbs.comThis e-mail address is being protected from spam bots, you need JavaScript enabled to view it , info@fxcbs.comThis e-mail address is being protected from spam bots, you need JavaScript enabled to view it , sales@fxcbs.comThis e-mail address is being protected from spam bots, you need JavaScript enabled to view it ), I found them not responsive at all. The ratio of response to my inquires where 1 response to my 3 inquiries. Response time was a minimum of a week.

The second and final response I received from FXCBS was to inform me this Delaware based ECN does not accept US/Canada based clients.

 

[pilbara]

FapTurbo`s trading pairs (EURGBP & EURCHF)

they are still recommending these European cross rates, I assume during Asian trading hours, because this offers a stable ranging market where a mean-reversion strategy will make consistent money. But zillions of robots doing the same thing during these "quiet" times will create volatility and make the strategy unprofitable. Also if fapturbo only works between relatively stable pairs, then it should not be used on EUR/USD which regularly has vicious 100 pip moves, and anything involving JPY would be even more risky!

 

[electronicmaster]

I'm just playing around with the FXCBS demo account.
Commission for 0.10 lots is $0.80 and 1.0 lots is $8.00.

That might be better than paying for spreads alone since I wont be using any more than Lot size of 0.1 for a while. I mean I will almost have instant profits I think anyway.

 

[pilbara]

I will almost have instant profits I think anyway.

instead of instant profits from trading, why not set up your own brokerage business in eight easy steps??

Step 1. Go to Instacorp.com and for $25 you can have a Delaware Limited Liability Company.

Fienex LLC is "located at 2711 Centerville RD Wilmington, Delaware", the address of Corporate Agents Inc. (trading as Instacorp.com)

Step 2. Go to The Mail Center of Chicago to set up a mailing address at "28 East Jackson Blvd Level 10" for your company. The mail centre will forward this mail to your location anywhere in the world.

Step 3. Open a bank account in Cyprus, eg Barclays Bank

Step 4. Licence the full package of Choice FX brokerage software from CTN Systems. They will host all the systems for you. According to their website "a firm of any size can offer online currency trading to their customers within hours of signing the licensing agreement with CTN Systems".

Step 5. Display legal disclaimers with the software, "This Agreement shall be subject to and construed in accordance with the laws of the Country of Barbados".

Step 6. Register domain name using a funny name like a film star. WhoIs registration for fxcbs.com
see that the registrant details are the same as mentioned in this internet scam investigation.

Step 7. Set up cheesy website.

Step 8. Contact fapturbo and tell them they can use the robot if the users set up an account with minimum $10000 USD.

 

[Stormin_Norman]

criteria #1 with a broker is always 'will i get my money back'.

no good getting great spreads, if your money never returns to you.

 

[electronicmaster]

Only time will tell. I'm planing to go live with FXCBS in 2 or 3 months. But that assumes the USD won't collapse by then.

I have noticed that FXCBS allows you to set up your own broker shop with their FX data feed. That looks like a nice deal. I suspect support won't be cheap to run.

Scalping is doing well still. Yesterday I had three scalps open when MT4 crashed (due to memory (RAM) restriction/limitation). So I had to manly exit the three trades, but I made my money back on the same day.

My Asus EeePC 701 only has 512MB and I have over 20 trading charts open at the same time. I'm going to install Fluxbox window manager to reduce the desktop foot print size so I have more available RAM for MT4 and the EA.

Today the EA scalpers made around $15.00 USD. I'll post all the charts later today.

 

[BentRod]

Yes, here you go

Thanks for the update EM.

Could be worse....Sounds like you are learning quite a bit anyway mate.

I'm planing to go live with FXCBS in 2 or 3 months.

I would be very cautious about the size of your deposit. I haven't checked them out but if Fap are plugging them it sounds dubious.

 

[electronicmaster]

I would be very cautious about the size of your deposit. I haven't checked them out but if Fap are plugging them it sounds dubious.

I hope to see what the others say on the Fapturbo forums before I do put the money down. Most Fapturbo users were wanting a ECN broker due to the MM Broker issues they had. I hope to find good feedback.

 

[BentRod]

I hope to see what the others say on the Fapturbo forums before I do put the money down. Most Fapturbo users were wanting a ECN broker due to the MM Broker issues they had. I hope to find good feedback.

Forget what they say on the FT forums

From what I have heard they are heavily moderated and all negative comments removed.

Head over to FF and ask some traders there if you want a real opinion.

 

[electronicmaster]

This is an update for Thursday and Fridays trades.

The first three trades with the -0.12 swap cost was the trades I had to exit myself (due to out of system RAM failure). I have installed the Fluxbox Window Manager to help reduce the RAM usage today.

Here is a screenshot of Fluxbox if your not sure what it is.

Total RAM use is now 189MB out of 512MB total, and that is with over twenty chart windows opened in MT4, each accompanied with the EA. The Asus EeePC 701 CPU speed is only clocked at 600MHz.

I use the EeePC because it has battery backup and it is very cheap. You can get a EeePC 701 for around $50.00 AUD from Ebay with Windows XP pre installed. I installed Ubuntu on mine so I don't have to worry to much about the Virus or other security issues.

 

[electronicmaster]

From what I have heard they are heavily moderated and all negative comments removed.

That is true.

 

[Wysiwyg]

This is an update for Thursday and Fridays trades.

I myself don`t see the reasoning behind taking a trade (let alone hundreds) for a few cents to a few dollars.

If you wish, could you give some reasoning why you prefer the multiple trades with a profit/loss of a few cents up to a couple of bucks?

 

[BentRod]

I myself don`t see the reasoning behind taking a trade (let alone hundreds) for a few cents to a few dollars.

Now you know why they are starting their own brokerage.

This EA is a brokers wet dream!