RoboMiner Pro Robot Review - LIVE ACCOUNT

[Gloworm]

Originally Posted by Killer-B

Just got this from IBFX... No more hedging!

Dear Customers:
Interbank FX, along with all FCM's, has received information from the NFA that we wanted to pass along to our customers. All registered FCM's have received a new Compliance Rule 2-43 regarding forex trading. On May 15, 2009, forex customers will no longer be allowed open "hedged" positions in their accounts. Please see an excerpt from the new NFA rule below. If you are currently using Hedging as a trading strategy, we would encourage you to use the Interbank FX Demo accounts over the next month to help modify your trading strategy. Also, for those of you who utilize hedging strategy with your "Expert Advisors", we would encourage you modify your code and test your advisor on the Interbank FX Demo servers as well. In order to assure a smooth transition for our customers to the new NFA Compliance Rule, Interbank FX has set May 8, 2009 as the last date that customers will be able to Hedge open positions.
Interbank FX is committed to providing our customers with superb tools, real time news and analytics to help you to be a successful trader. Please do not hesitate to contact one of our customer service professionals if you have any questions.
Best regards,
Todd B. Crosland
Chairman and President



Notice to Members I-09-10
April 13, 2009
Effective Date of NFA Requirements Regarding Forex Orders
NFA has received notice that the Commodity Futures Trading Commission has approved new NFA Compliance Rule 2-43 regarding forex orders. The prohibition on carrying offsetting transactions will be effective for any positions established after May 15, 2009.
Click here for more information.

My version of Robominer has never hedged, what settings are you using ?

[PipCop]

Yeah, we've been discussing that here:

http://www.pipcop.com/forums/site-in...th-2009-a.html

[Killer-B]

No, that was an earlier point I had made about RM.... that if it DID hedge , it may fair a little better when it gets "stuck" like it is now.. Not sure about GT-S (settings/features) but any decent grid or martingale EA has to be able to cover its ass when a series of trades go south... so thought it might be a good feature to add to RM... but seems that doesn't matter anymore... Wonder if the few that allow scalping will be next? Can't have us making any money by doing something smart now can they....

[Killer-B]

Whoops sorry... I saw it was dated the 13th... sure took their sweet time getting the news out!

[peteronmaui]

PipCop, I would not know how to post my live stats, but they certainly are nothing to write home about.
I started my life account on 12-15-2008. My Equity is down presently about 7.7% and I don't really care about the fact that my Balance is up 37%. I say that I don't care because this profit can only be realized IF the market moves as it is supposed to move as it did in the last few years, which is just some mild form of Russian Roulette. As for broker choice for RM I would certainly advise against IBFX , due to the high negative swap on both pairs. Some of my audnzd pairs still held from 12-18 last year will have to close with >200 pips profit just to make up for the swap . Coming to think of it, that would mean, if those positions are still connected to the EA, they will by design not close until they are profitable, which means, that opposing positions could be opened in the same pair, getting us in trouble with the hedging rule. Those positions can be recognized, because their T/P automatically reverts to 0.0000. I guess if audnzd ever returns to somewhere around 1.1600, those positions will have to be closed manually.
Peter

[Killer-B]

Originally Posted by peteronmaui

Killer-B, we have been there before. RM does not use hedging. All entries are in the same direction.

Peter

Peter - Pls re-read my post(s) - I said, *IF* RM had hedging, it might be a way to dig itself out of a hole faster... Then someone asked if it did - which I just replied that it did not... so please don't misquote me...

I know nothing of GT-S and had made comments regarding/asking about that grid trader too - so maybe that's where our wires got crossed...

Cheers,

KB

[peteronmaui]

KB, never mind, I actually had edited my post and deleted the part directed at you after I had read the previous posts. I traded a similar system called Gap Trader last year, and one of the early strategies with a runaway price was to hedge . The problem with that was where to put on the hedge and where to take it off. I remember I stopped that kind of hedging after the price crossed up and down through my hedge level a couple times in one night, costing me over 10% of my account.
Peter

[trendcat]

boy those open trades are wiping robominer out

[peteronmaui]

Originally Posted by trendcat

boy those open trades are wiping robominer out

Yep, I am just waiting to get back to break even, and I am outta here.
Peter

[PipCop]

Of course, the thing to remember is that right now is the ideal time to start trading with RoboMiner. As the currencies fluctuate and head down, all those open trades will turn into profit. It's done this time and time again, so one just needs to be properly capitalized and ... patient!