RoboMiner Pro Robot Review - LIVE ACCOUNT

[pipdetector]

Here is a Forex Funnel review that I have found interesting:

http://www.macrotactics.com/2008/08/...isor-business/

I'd rather stay with ole good Robominer...

[Killer-B]

Originally Posted by pipdetector

Here is a Forex Funnel review that I have found interesting:

http://www.macrotactics.com/2008/08/...isor-business/

I'd rather stay with ole good Robominer...

I know - I know

I didn't (and don't) believe in it - nor endorse it.... but based on "another site" that forward tests... after 160 days, it's killing FAPS, Steinitz and some others... so I loaded it on a live account - and after reading all the negative reviews - there is ONE single common theme - people are over-leveraging their accounts - so when it does do a reversal (like yesterday) it gets hung out till it can recover (JUST like Robominer is doing for the past 3 months now)... Difference? RB only places a few trades - whereas FF is definitely a VERY risky martingale system - However - it does close all negative trades once a break-even or profit is hit... It rode down a 400 pip drop over the past 3 weeks - cashing in all the way - then hit bottom - Rut Roo Shaggy... but - it surprised me - it whittled its way out of the hole and is back into the mid average trading and taking 20 pip profits several times a day... without fail.... and my equity line is a steady one of growth... I'm also running 500:1 account...

That said, I am the most skeptical, anti-EA person on the planet - but I understand what the ranges are for USD/JPY and I know the bottoms and when to switch from sells to buys (or think I do LOL)... Point being, if your account is underfunded - or if you're trading huge lots - yes, on a sharp reversal (with ANY EA) you'll blow up your account... In doing some rough math here over the past 3 weeks, the largest DD I've had was 16% - Far better than what I'm seeing over there to the left.... and it just banked another 20 pips while writing this...

FWIW - *IF* It had not taken that very very very first "buy" when I first installed it.... I'd have no negative float... Not bad.... Is it Megadroid? No, But I bet you a box of donuts mine "doubles my account" in 1 month before Megadroid does...

Just my 2 cents -

Could BLOW UP today!! (and given my luck and Murphy's Law, most likely will)

And BTW, mine is a live CASH account - not a demo - for as we've seen here, there IS a difference...

Also want to give props to Forex4You brokerage... Great response - No limits on anything ... and no ID's - had me up via Debit Card in 1 hour...

Cheers,

KB

[trendcat]

sounds good killer-b please keep us posted
what was your starting accouint balance and what is it now?
also how many pips is the stops in ff.
and are the profit targets 20 pips?
thanks

[Killer-B]

Originally Posted by trendcat

sounds good killer-b please keep us posted
what was your starting accouint balance and what is it now?
also how many pips is the stops in ff.
and are the profit targets 20 pips?
thanks

What you see here to the left, is my opening and original balance with Forex4You.com brokerage...

I started with 1,000 and ran FAPS for like a week before the DD's about killed me - then decided to try FF.... (you can see the date I changed, as I switched from EUR/USD to USD/JPY) - and all the "cancelled" orders are the martingale orders that it places "just in case" it starts to run... As of me writing this - it's at 1,350.00 in just over 2 weeks....

The T/P settings differ for each lot... and it's "smart" in the sense, that it does calculate how many pips are are needed to reach break-even or profit.... to dig itself out of a negative hole... Most its done thus far, are 5 "doubles" (trades) e.g. 01, 02, 04, 08, 16 - I'd normally trade at .10 - so .16 doesnt bother me too much -

That said, I'm now in "greedy mode" and am TRYING to blow up the account - so I've amped up my starting lots to .03 - and that adds up fast.... both good and bad...

So we'll see?

Just watch my MT4 stats.... it will be FF only... till it blows up

Cheers,

KB

PS: As to stops... it's 500 I think... and that is my biggest concern with FF... for if I get a .24 or .48 "runner" and it just goes and goes and goes... I am sooooo screwed and will definitely blow up the account - BUT - the "smart" thing it does, is it places orders as it takes losses (goes against common sense and is quite nerve wracking) but, outside of a 200 pip STRAIGHT runner.... this pair tends to saw allot... and so it may drop (or rise) 30 pips, but it'll also place a 2X order at 20 pips that offsets that "loss" on one of the dips...

As already said, it's a very very very risky method.. but with 35% now "in the bank" even if I got a 300 pip runner, I'd still be at break even... (plus it would place counter loss trades as it "ran").... But YMMV

[trendcat]

kb thanks for the reply
500 pip stops is insane
one stop out and your done.
but we will see how it goes.
cheers

[trendcat]

well were up 6 pips on the 200 account finally robominer got above water again
cheers

[only20gp]

i see from the statement today 11/06/09 that robominer hasnt closed any trades since the 6th. on my live account it has closed 7 trades since the 6th. could something be wrong with your settings pipcop?

i would also like to know more about how others are trading it. im changing the lot sizes acording to what range the currency is in. i started my live account with 1000 usd on the 5th of june and at the time it was trading at range 56. so it would`nt make sense to trade at 0.01 because there are only 10 ranges to the peak, so i changed the lot size to 0.04 meaning if it did peak and if it even went further than the peak, my $1000 account would be secure enough to coverthe draw down. so im making $10 per trade as apose to $2.50. anybody else trading like this?

[pipdetector]

Indeed, it looks that Robo did not close andy trades since 6th, but also it did not open any -- which also looks strange, because there was quite a lot going on on this AUDNZD pair.

As to your "dynamic" position sizing -- I do something similar, but I use 0.05 position at ca. 7000$ account balance. The "peak" is just a line on sand -- there is never quarantee that the price will not go beyond it.

[moile]

I want to start trading with $500 on Alpari UK with the Robominer
Alpari offer upto 1:500 leverage ..
What is the profit probability? As in if Robominer made 100 pips in a week, what amount of profit would i be lookin at? the "lot factors" have me really confused...
Lookin forward to a reply... thanks

[PipCop]

I'm running it live with $200 and it doesn't make a lot of money, but it is consistent. Take a look at the statement at the start of this thread and you will see I've only made about $20 in 2-3 months. You would have to put more money in it to make more profit, but do NOT over leverage yourself. RM is VERY specific about that, and does carry draw-down, so you can wipe out your account if you don't follow the directions carefully.