RoboMiner Pro Robot Review - LIVE ACCOUNT

Originally Posted by GabyZ

I'll start trading with this EA on live this week with leverage 400:1 and balance at 450$.

I'll wait for updates of this thread, very interested.

Hi GabyZ - wondering if you could give us an update please?

[peteronmaui]

Originally Posted by raindog

I actually enjoy input from people who aren't all 'gee whiz' about robots, as I must admit to having reservations. However, I have started trading RM live with a $20000 account to see how I go. Only 2 days so far but going okay. Will post results when they are more meaningful.

cheers,

rd

In my opinion, if $ 20,000 are funds you 'can afford to lose'. well, good for you. You might as well just send them to me for my advice or donate them to a noble cause.
I pretty much reduced three $ 10,000 accounts trading similar systems that depended on trades happening within 'historical ranges', that started around 2000.
It's just wishful thinking that 'friendly nation's' exchange rates always oscillate within a limited range . Look at where the USDCAD went after years of being close to each other.
Look at where the EURCHF went after running very close for a very long time. Look at what the GBPJPY went through in the last year, and imagine another great new trading system that depended on that staying within a range . That's how I went broke.
Peter

[raindog]

In my opinion, if $ 20,000 are funds you 'can afford to lose'. well, good for you.

- yes, good for me. All hard earnt, and i'm ready to chance it.

You might as well just send them to me for my advice

- um, thanks, but I'll pass for advice that is informed by more than failure.

or donate them to a noble cause.

- when I have millions I can afford to lose, I will do so, promise ;-)

That's how I went broke

- Tell me, how have you 'gone rich'? Or are you still working on that?

Look, I know it's a gamble, but I've been trading a few years now and know the risk I take. I wish you better luck in your future trading.

FWIW, this is only a minor part of my trading plan, I rely on fundamentals and another EA based on them, for the bulk of my wages...

rd

[peteronmaui]

rd
no need to get all sarcastic and personal. I have been at it since 1993 and you sounded like a rookie who just wanted to throw all his money into that. I thought of it too at some point , but after one of the developers posted somewhere that he went through a 70% draw down not too long ago, I decided to start small and take out my original funds once I have doubled up.
Peter

[PipCop]

Okay, folks, let's stay on topic and away from addressing each others personal issues. No one is perfect, but let's find the perfect money making tools and then we can all be happier.

[raindog]

My apologies, that was uncalled for, I'd just had a day where I'd been given advice once too oftern. Sorry Peter...

[peteronmaui]

rd
No problem at all
I just wanted you to be careful with your hard earned money.
I did so well with an EA last summer, I put it on three accounts, had my broker statements come in, daily profits for a couple of months, I nearly quit my day job, and suddenly, whoosh, the carpet was pulled from underneath me. I didn't even see it coming.
I just don't want that to happen to anybody, that's why I urge everybody to start small, watch it for a year and imagine how you would react if 20K had a 70% drawdown . So you wait one year longer to retire, that's a lot easier than losing 50% of your retirement investments within weeks.
Good luck trading
Peter

[raindog]

That's an awful bummer, Peter. What EA were you using?

I am thinking I might halve the size of the account.

The other EA I'm trading, of my own design, has shown consistent live profits over the last 12 months (in demo though, until this last week). Trouble is it is only really for order entry at start of day, Asian session. Thereafter you have to monitor the trades every few hours until they limit out or go bust. At any rate , being based on fundamentals around bank trading, it seems to give good results. Time will tell. But I feel more confident with it than any automatic system.

cheers...

rd

[matchett]

I have the RoboMiner EA on forward testing. It does make trades and profits from them but also has open trades it keeps waiting for the Take Profit. I notice from this live testing that the profit is low and the open tardes are very high. Also the open trades are old...up to a month old. Somewhere I read that this robot never loses a trade and that is just not possible. It seems this claim is made beacause it just keeps the trade open until it profits therefore the trades do not need to be listed as losing since they were never closed yet.
Is this the case or is it just me?
My forward test shows profit...but the negative open trades are increasing slowly.
I notice on the live test that many of the trades are almost if not at least 30 days old already. Also the lot size on the trades is .03 and the P/L is -153.00. This is a huge pip loss. The market would have to make a dramatic turn around to recover the loss.
My views remain open but I sure would like for someone (preferably the developer) to explain if I am reading something wrong.
I like the program but rather confused about it.
Can someone help?

[cogs]

Matchett or all,

I must admit I was sceptical at first but after 14 years of trading my experience with paper trading and test accounts are not like the real thing so I used the same assumption with robominer and dived straight in.

Being a little sceptical I started with a minimum account size two weeks ago of $250AUD. That had doubled in the first week with minimal drawdown , tripled in the second week with slightly more drawdown due robominer choosing to go long with EURCHF and the price dropping from a order limit sell of 1.5183. I have no problem with this and have full confidence the EURCHF will hit that mark again soon. The EURCHF has strong support and a strong turn around double spike bottom at 1.4298 in history.

I must admit the AUDNZD is better suited and will produce more profit faster. All other currencies have not been activated mainly due to the wide spreads I am exposed to with the current company I am with.

Robominer appears better suited to trends especially with stacking of trades and not overlapping (unfortinately), if trades were placed overlapping like FAPTurbo it would be much better again.

I have balance factor set to 0.0 (automatic).

I tried to trade the same trades as Robominer physically and human emotion steps in again and I made two losses due to that so decided to just let it run and it just works!

You will always get drawdown just like starting in negative territory due to spread , this can be intimidating for some, so that is when you walk away from your PC for a short break and come back later. This is all just part of trading Physcology.

Not being happy with not being able to trade other currencies I now have three other well known robots.

Another tip is to just use small lots and let time make the profit, if you get greedy and up lot sizes you will come crashing down, that is the nature of the market.