RoboMiner Pro Robot Review - LIVE ACCOUNT

[raindog]

Maree,

you need to post it in a more readable format for old eyes like mine to pick up the swaps....pdf or somesuch...

Bottom line is you have 65.29 closed profit with current drawdown of minus 70.88. That's not bad for a system like this. The amounts are obviously not what you are relying on to pay rent (are they?) so try to relax and see what happens. With auto systems you have to do your homework (backtesting) and trust that future results will not vary too much from that. Use risk capital you can afford to lose. If you are worried about your losses, you are risking too much, and success in trading is all about risk management , not trading super systems (hate to sound like a know it all)...

rd

[NightFX]

Originally Posted by Maree43

So if the swap amount doesn't have a "-" in front of it it's positive?

Hi Maree,

Thats correct. If the number under the "swap" column has a negative(-) it will be debited from your account once the position is closed, otherwise it is a positive and will be credited to your account once the position is closed. The swap can be either a debit or credit depending on the comparison between the two currencies inter-bank interest rates, what margin your broker places on those rates and whether you are long(buy) or short (sell) in the market.

here is a excert from IBFX's wesite;

What is SWAP ?
Swap is a debit or credit paid or earned as a reflection of the varying interest rates applicable to currency pairs. When trading the USD/JPY for example, swap interest rates will be determined based on the interest rates of the countries being represented by this pair. Depending on whether you are long or short and which country has higher interest rates, you may be charged or credited interest. Essentially, when a trader holds a position over night they are subject to the interest rates applicable to the currency pair they are trading. 'Swap' is also commonly referred to as 'rollover rates'.
When are swap rates calculated?
Swap rates are calculated daily at 4:59 PM/ET. Trades that have been opened before 4:59 PM/ET and held open past this time will be subject to swap rates. Swap rates are tripled on Wednesday at 4:59 PM/ET.
Why are swap rates tripled on Wednesday?
When placing a trade in the spot Forex market, the actual value date is two days forward. A deal done on Thursday is for value Monday. A deal done on Friday is for value Tuesday, and so on. On Wednesday the amount of swap is tripled in order to compensate for the following weekend (during which time swap is not charged because trading is stopped for the weekend).

hope this helps,

cheers,

NightFX

[Jey]

Remember there are the spreads to consider, as well as swap .

Well, looks like my swap amounts are actually a good thing! They are all positive which I gather from the good people of this forum and Jerry that I will eventually come out better off as the open trades close off.


Reply from Jerry:

Normally, you wouldn't do anything about it. The open swap amounts usually will be more than compensated for as profits are taken. If the negative swap gets too large, even larger than the average profit, and if AllowForSpread is set to false, the EA will keep the EA open until the trade is in profit by at least a penny. If you wish to keep AllowForSpread set to true, then remove the TakeProfit for that trade where the negative swap is larger than the profit will be when the trade is closed, and the EA will still monitor the trade to close it in profit beyond the negative swap .

Jerry

[peteronmaui]

Originally Posted by Maree43

Well, looks like my swap amounts are actually a good thing! They are all positive which I gather from the good people of this forum and Jerry that I will eventually come out better off as the open trades close off.

Maree, who's your broker , please?
Those negative swaps with IBFX take the fun out of the game.
Or, for that matter, anybody with an american broker with positive swaps on the audnzd short ?

I'm with GoMarkets, spread is 23 but I'm still making a profit - just be careful when talking to them as they have been known to ban successful ea's eg..fapturbo. Give them as little info as possible if you must talk to them.

[Gloworm]

My swap charge on 204 closed trades is +$0.31 so doesn't seem like an issue. Alpari UK live account.

Is anyone trading live with both pairs? I am considering bumping up my account and going with both.

"ban successful ea's eg..fapturbo"

LOL

You guys really make me laugh. You come on here expecting to make tons of money by buying a cheap little robot that promises the world. No wonder the charlatans that flog them do what they do rather than trade. Get a life guys and understand that what you're after just DOES NOT EXIST. Longterm profitable robots are like GOD - you've heard the stories and they all sound wonderful but the reality is their goodness is simply a figment in the imagination of those that created them.

Are you guys blind ?

Can't you see what exactly is happening with this Robominer EA ? Its just like the Steinitz piles of dung. All the trades are closed at a profit but those that go the wrong way are simply left as a 'floating' loss. Of course it profits each day because it doesnt close trades that go wrong. As you'll see over the coming months, the floating P/L will become a greater and greater negative number.
Its an age old trick...so wise up....