RoboMiner Pro Robot Review - LIVE ACCOUNT

[PipCop]

Hi Raindog, I did get it, thanks, and I sent it along to Forex Goldmine for processing.

[PipCop]

I have to point out that EVERY robot has the ability to margin call your account, so I don't know what we're complaining about... Even if you self-trade, you can get a margin call .

So ... what else is new?

[raindog]

Cool!

[trendcat]

pipcop your right anyone can get margin called
but we want to be in the game as long as we can
a system with no stops is flirting with diaster
if the audnzd keeps rising you are going to get margin called.
its at 40 to 50% drawdown now with the open losing trades
the system is hoping that the audnzd stays within a certain range
all the time
july last year if you had started with robominer you would have made a mint
because all the trades are sells
after oct 10 there are many times if you entered at the wrong times you would have gotten a margin call .
im not trying to be a doomsayer ,because i know we all looking for a system to make steady consistent money
but its a nailbiting system

[PipCop]

I agree on all points. That's why we're doing this long term review. 3 months on demo, and then 1 year live. If it gets to that point , then I would use it for personal investing. Until then ... it's proof of concept only. Hence the purpose of my site.

[raindog]

Well, a problem installing the EA: The ea keeps asking me if my account is set to trade only 1 decimal lots. I searched and only found one thread covering this. that said to ask the broker to decrease the lot size. Tried that by chatting to FXCM who said:

"the smallest lot we have on MT4 is .1 which is a 10K trade
we don't have MT4 micro accounts
only standard MT4 accounts"


I am trading a $5000 account size. Any suggestions, anyone?


thanks,


rd

[PipCop]

Raindog,

I moved your posts into the RoboMiner thread because it makes more sense than in that other thread. I'll ask Jerry what he thinks and get back to you.

[PipCop]

Raindog,

Jerry replied:

FXCM allows a minimum of .1 lots, so that means he would have to have a $20,000 to $35,000 minimum account size to trade that many lots. That is why we recommend only IBFX, FXDD and now Alpari who all allow .01 lots for trading. With that account size, his only option is to switch to a different broker . I will provide an unlock code for a different broker who allows .01 lots if he is a permanent client. If he is a monthly client, it doesn't matter. All we have to do is replace one account number with the other.

[raindog]

Thanks Pipcop, I saw the recommended $20,000 plus for FXCM but didn't realize it was an absolute pre-requesite. I was intending beefing the account up to 20,000 anyway, so will do this today and try again.

[PipCop]

You're welcome. However, as I always say, be safe - start with an account balance which is no more than you can afford to lose until you are absolutely sure the robot performs as expected. If that means you need to open a second account at another brokerage, that may be an option to think about.