RoboMiner Pro Robot Review - LIVE ACCOUNT

[raindog]

This interests me. I mean, according to Jerry, the robot will never open more than around 33 trades at a time, and only then when the pair moves decidedly in one direction. How can it blow the entire account, with such a safeguard?

[1ka]

Originally Posted by raindog

This interests me. I mean, according to Jerry, the robot will never open more than around 33 trades at a time, and only then when the pair moves decidedly in one direction. How can it blow the entire account, with such a safeguard?

If it continues going in the wrong direction those 33 open trades will be losing. If it reaches the point of a margin call , then your broker will close the trades automatically and you'll have no money.

Very unlikely to happen, but not impossible. You could always add funds to avoid the margin call or close trades manually to stop them losing too much.

[raindog]

Thanks, I also think it's unlikely, but would never trade it completely hands off just in case...

Well, into my 4th day and pretty happy with live account so far!

Starting balance: $500

Current balance: $548.55

Leverage 200:1 otherwise as per instructions

5 open trades for about -$25

This is the result working with GoMarkets on a 23 spread !

Cheers

Maree

[JoeShmoe]

Start Date OCT 8/2008

Balance up 93.32%
Current DD 31%
FXDD with both currency pairs.
Currently using RM 2.12

Numerous manual Magic Number resets and TP changes as per forex-goldmine suggestions.

[PipCop]

Can you point us to those suggestions or post them here? I have not done any changes or resets and would like to see them.

[JoeShmoe]

Originally Posted by trendcat

after oct 10 there are many times if you entered at the wrong times you would have gotten a margin call .
im not trying to be a doomsayer ,because i know we all looking for a system to make steady consistent money
but its a nailbiting system

Anyone who started a RM live account ANY time last year with the recommended setting wouldn't have even come close to a margin call . Large DD's yes - margin call no.


You obviously understand how this EA works!!

[JoeShmoe]

Originally Posted by PipCop

Can you point us to those suggestions or post them here? I have not done any changes or resets and would like to see them.

Lots of info on this Yahoo Group: http://finance.groups.yahoo.com/group/forex_assistant/

It's been posted before on the other RM thread.

Basically, when the price moves away from center of range you can reset the Magic Number to something different. This will effectively double your profit (with the currently open trades) with very little extra risk. To increase the profit even more you can change TP manually for each open "orphaned trade" - still connected to the old magic number - to...say.... 100 pips instead of 40.

Disclaimer: Don't do this until you know what the EA is doing and have tried it on a demo account first.

[Batchboy]

Originally Posted by JoeShmoe

Lots of info on this Yahoo Group: http://finance.groups.yahoo.com/group/forex_assistant/

It's been posted before on the other RM thread.

Basically, when the price moves away from center of range you can reset the Magic Number to something different. This will effectively double your profit (with the currently open trades) with very little extra risk. To increase the profit even more you can change TP manually for each open "orphaned trade" - still connected to the old magic number - to...say.... 100 pips instead of 40.

Disclaimer: Don't do this until you know what the EA is doing and have tried it on a demo account first.

So why won't someone ask "Jerry" of forex-goldmine if they have researched some of these procedures to newly-method-"ize"-program into Robo?

jb

[jeffstar]

Hello. I have a question. In the previous Robominer version 2.10 thread the take profit (TP) is different from the actual closing price on all closed trades. In this thread using Robominer 2.12 the take Profit (TP) is exactly the same as the closing price. Can someone explain the reason for this difference?

Thank you. Jeff