RoboMiner Pro Robot Review - LIVE ACCOUNT - Page 66 - Pip Cop

blank_jack · 2010-06-11, 05:01 AM

I see. Still accumulating 10k in losing position does not seem a good thing at all to me I see that they offer

their robot on demo accounts for free, so testing it won't hurt.

Lets se..

**pipdetector** · 2010-06-11, 05:39 AM

Yes, grid systems are not particularly good at the drawdown

section... Their risk to profit ratio is completely counter standard risk managing practices. In cases of such systems the best idea would be to switch them on at the extremes of range

. The most risky is setting them on in exact middle of the range

as you never know when the trades will come back to it. Assuming that start at the middle your possible risk may be 33+ times higher than profilt (40 pips). The newer versions seem better because they do not need to keep the trades open all the time, they can cash the trades at predetermined EquityPercentTakeProfit...

**rsmereka** · 2010-06-11, 12:56 PM

Quote:

Originally Posted by PipCop

those trades would have all closed profitably

Not necessarily,

If the trades were positioned against the swap

, they would have been incurring swap

/rollover fees and at some point

(if the trade lasts long enough) any profit seen by the close of the trade could be eaten by the accumulated swap

/rollover fees.

The only way around this is to adjust the TP

to account for the swap

/rollover fees. This is why I created the EA AvoidSwap. It is the only automated way I know of adjusting the TP

based on the swap

/rollover fees. The other way of doing this is manually which is very tedious and error prone.

Rick

**PipCop** · 2010-06-11, 01:03 PM

That used to be true on the older versions of RoboMiner (not the newer ones) or if you change the default settings on current versions of RoboMiner. However, if you don't, then you will be assured all trades will automatically adjust the TP

to be profitable.

How? StealthMode must be set to true and AllowInternalClose must also be true so that there is no TakeProfit showing for the order, and of course the robot has to be on the chart with the right MagicNumber.

I screwed up a while back and lost some money by not doing this. I had 4 instances running, and shut down 3 of them. Then I changed computers and forgot to add the other 3 instances back to the charts with their magic numbers. As a result, the trades they had opened were orphaned, and when it came time to closing there was no robot managing them. I took a small hit in swap

fees, and learned a good lesson in paying attention. Otherwise, all other trades have closed profitably.

angelajill · 2010-06-15, 12:39 AM

Quote:

Originally Posted by PipCop

The statement has been updated, so you'll see real data on a real cash account now. It's much better, with the exception of a problem where a different robot opened trades on the live account and screwed it up. That was not related to RoboMiner, and you can tell because the trades were on the AUD/CAD and not the AUD/NZD.

Thanks admin...I bought this Robominer seeing that you are HAPPY with this EA...

Will monitor this thread for your wise knowledge and experience ...

sdsarmad · 2011-01-01, 10:03 AM

I dont belive in this bot. i have tested it on several account and all lost at the end.

be careful guys

**PipCop** · 2011-01-01, 04:44 PM

I've been using it on a live account for years and have not had a single loss, up until the point

where Forex.com pulled my account back to the US, screwed the leverage

, and then locked me out so I could not update the settings, and then the market moved and I got hosed due to FIFO

settings. Fucking CFTC ruined that for me. Unless you are overseas and have a 200:1 leverage

, it's not very usable any more.

PersonalInvestorPlan · 2011-01-05, 07:22 AM

It's more difficult now for US citizens to trade with the change of regulations. Overseas brokers are needed that accept US clients.
Bob, the creator of the Golden Grid and Robominer has posted some recent updates on his technical forum for RM users at forum.forex-assistant.com and now has a new site with ebooks etc at personalinvetsorplan.com

PersonalInvestorPlan · 2011-01-05, 07:25 AM

I forgot to say that his latest update includes details and advice re resetting the centre and limits.

PersonalInvestorPlan · 2011-01-14, 10:16 AM

Bob Has posted a limited time offer

on his technical forum for fully licenced Robominer users who are intersted in moving over to this second generation version, PIPen. I don't think it will be up beyond January.