RoboMiner Pro Robot Review - LIVE ACCOUNT

[only20gp]

just read a post by killerB advising to bust robominer. why would u want to do that. been running it on new live account since august 1st till now, 3 and a half months n im up by 22% and still going strong. draw down of about 16 %. so no, not time yet. its doing exactly what it says it does and im enjoy my profits daily. I even hate weekends now!

mt4 stats is down AGAIN.. so please ignore my mt4 stats and look a http://only21gp.mt4live.com

[Hawk Trader]

Originally Posted by only20gp

just read a post by killerB advising to bust robominer. why would u want to do that. been running it on new live account since august 1st till now, 3 and a half months n im up by 22% and still going strong. draw down of about 16 %. so no, not time yet. its doing exactly what it says it does and im enjoy my profits daily. I even hate weekends now!

mt4 stats is down AGAIN.. so please ignore my mt4 stats and look a http://only21gp.mt4live.com

is this real money or demo??

rgds

[only20gp]

real...

[hemeteer]

I love this robominer robot...but--disappointingly,-- it would seem that-- altho' this robot is very reliable-- the addition of more new trade entries each month. plus the trades that are still waiting to "hit" appear to continuously offset the profits. Therefore, there will never be a time when you are actually showing nice profits for this robot.... not good when the rental fee is a factor, as well...

anyone disagree???????

[PipCop]

Keep in mind that this is a FIFO account. Non US non-FIFO accounts make far more profits as they don't have to wait to close out all trades. I should have switched to a non-FIFO broker a while ago but did not when I had a chance.

There have been several times in the past when all the trades are closed, but yes, you would have to time it. And of course, as the demo account is small, it'll be harder to get out from the drawdown until there is more equity.

With that said, the rental fee is a way for people to test the robot on a live account, and should not be an issue for people trading with larger accounts ($2k or more I am guessing.) If you have a $10k account it's a non-issue, for example. Once you're happy with it working live, it makes far more sense to get the lifetime license and not pay each month.

A few live traders have doubled their money in just a year, so if you have a $10k account then the additional $10k should offset any drawdown and fees.

[hotsawce]

Originally Posted by PipCop

Keep in mind that this is a FIFO account. Non US non-FIFO accounts make far more profits as they don't have to wait to close out all trades. I should have switched to a non-FIFO broker a while ago but did not when I had a chance.

There have been several times in the past when all the trades are closed, but yes, you would have to time it. And of course, as the demo account is small, it'll be harder to get out from the drawdown until there is more equity.

With that said, the rental fee is a way for people to test the robot on a live account, and should not be an issue for people trading with larger accounts ($2k or more I am guessing.) If you have a $10k account it's a non-issue, for example. Once you're happy with it working live, it makes far more sense to get the lifetime license and not pay each month.

A few live traders have doubled their money in just a year, so if you have a $10k account then the additional $10k should offset any drawdown and fees.

Do you prefer this robot to megadroid? I was looking to get a robot a while ago but wanted to sit back and watch and do my research.

Also, can you still get a non-FIFO broker here in the US to use robominer with? That's my main issue right now; I'm looking for the best brokers here in the US, so any recommendations would be appreciated.

[PipCop]

I like RM because of it's purported low risk factor. I honestly have not really looked over MegaDriod, but my review has been sucking for who knows what reasons. The live traders are doing very well on it.

Forex.com offers Mt4 accounts via their UK branch, but you need a minimum of $2300 to trade safely with them as they do not offer micro lots.

[PipCop]

And this is yet ANOTHER reason why I should have switched off IBFX. This is going to screw my RoboMiner account big time.

Dear Valued Customer,

In compliance with the upcoming NFA regulations, we will no longer be offering accounts with more than 100:1 leverage . We are also required to alter the leverage levels on our existing accounts. We want our customers to be aware of these new requirements to determine in advance how this may affect their trading plans and decisions.

We are writing you because this affects your live account with Interbank FX.

As of market open on November 29, 2009, all currency pairs will have a maximum leverage of 100:1, with the exception of the USD/SGD and the USD/ZAR which will have a maximum leverage of 25:1.

Please be aware that this change will impact your margin requirement for any open or future positions. For example, if youre trading in a mini contract worth $10,000 at 100:1, you will need to post a $100 margin to open that mini lot trade. For a nano lot, which is 0.01 of a mini contract , you will be required to post $1.

The margin call and stop levels on your 100:1 account will be: Margin Call - 65%, Stop Out - 50%. As a contrast, if your account was 400:1 your levels would have been: Margin Call - 125%, Stop Out - 100%. Or Margin Call - 100% and Stop Out - 50% for a 200:1 account. We also want you to understand how leverage can work both for and against you.

Please consider your account balance and how the new margin requirements will affect you. If you need to deposit funds, simply click on the link below and remember, we now offer no fee credit card deposits.

Deposit Funds by clicking this link - https://secure.ibfx.com/tradingaccount/deposits.aspx

If you have not already done so, you can also register your account for our 10% deposit match promotion. Simply click on the link below and register your account.

Register for the 10% match by clicking this link - https://secure.ibfx.com/promotions/c...10percent.aspx

If you have any questions regarding this email, please contact us via email, online chat, or on the contact numbers below.

We thank you for your continued support, and best of luck with your trading.

The Interbank FX team.

We are available by telephone 24 hours a day from Sunday at 5:00PM EST to Friday 5:00PM EST.

Toll Free:
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United Kingdom 0.808.120.1966
International: +1.801.930.6800

Interbank FX LLC  Registered FCM, Member NFA  DISCLAIMER: Trading in the off exchange retail foreign currency market is one of the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Leverage disclaimer: The leveraged nature of FX trading means that any market movement will have an equally proportional effect on your deposited funds. This may work against you as well as for you. The possibility exists that you could sustain a total loss of initial margin funds and be required to deposit additional funds to maintain your position. If you fail to meet any margin call within the time prescribed, your position will be liquidated and you will be responsible for any resulting losses.

[only20gp]

guess i should be really happy i switched to forex.com/uk. i think pipcop should really consider moving the live test to a non NFA broker for then one can really appriciate robominer and what it does. someone asked about what broker is recomended in the USA, i think FXDD is one that is still not under NFA. for how long? who knows.

[PipCop]

The problem for me with Forex.com UK and FXDD is that they all require $2000 minimum balances to trade with most robots. Sorry, as much as I'd love to demo robots on live accounts, I can't really afford that!

This sucks!