RoboMiner Robot Review - LIVE ACCOUNT

[Stormin_Norman]

Originally Posted by marlintrdg

Who's banning for using EA's?

the FAP turbo is becoming a victim of its own success (see posts in its thread).

[GabyZ]

A lot of brokers do this, they hate succesful traders as most of them enter the opposite direction you trade to have a net profit of 0 plus the spread ...it's kinda difficult to explain...however they do want you to have trades of a duration of more than 3 minutes, brokers are in msot of cases our enemies, they'll ask you to move to variable spreads and if you don't you'll be lucky to get your first deposit back....those are the brokers with risk management .their acting this way because they're asked to do this by their liquidity provider.

We can trust ECN brokers however.

What they do to fight against succesful traders with EA.

1. Spread Size.
2. Disconnection errors.
3. OffQuotes/Requotes Errors. Especially exit offquote errors.

On ODL more than 240 traders have been banned, be carefull and ask their support if EAs are fully allowed.

[marlintrdg]

Originally Posted by GabyZ

A lot of brokers do this, they hate succesful traders as most of them enter the opposite direction you trade to have a net profit of 0 plus the spread ...it's kinda difficult to explain...however they do want you to have trades of a duration of more than 3 minutes, brokers are in msot of cases our enemies, they'll ask you to move to variable spreads and if you don't you'll be lucky to get your first deposit back....those are the brokers with risk management .their acting this way because they're asked to do this by their liquidity provider.

We can trust ECN brokers however.

What they do to fight against succesful traders with EA.

1. Spread Size.
2. Disconnection errors.
3. OffQuotes/Requotes Errors. Especially exit offquote errors.

On ODL more than 240 traders have been banned, be carefull and ask their support if EAs are fully allowed.

That sounds Sooo illegal to me, any good lawyer would have a field day with this..

Anyways it's good to know, maybe we can start a thread to track the good from the bad.

[GabyZ]

Guys you should all read this http://forums.babypips.com/forextown...o-more-39.html

Happy to share.

[PipCop]

Originally Posted by angelian

I'm not sure I fully appreciate the "thumbs up" on this robot. Although it has had an impressive November, fair December, it's January shows it carries big losses compared to closed P&L. I know the concept of Grid trading, but seems like your equity could take quite an unrealized P&L hit while you're waiting for the market to come back in line....IF it comes back in line in a reasonable time.

I have in no way given a "thumbs up" to this robot. Please read the Robot Review Criteria thread and you will see this robot is far from being approved. It has only managed to get past 90 days of being on a demo account and has been switched to a live account. It has another YEAR to go before I would consider it "safe" to use.

[PipCop]

Originally Posted by GabyZ

Guys you should all read this http://forums.babypips.com/forextown...o-more-39.html

Happy to share.

To expand upon that, here is the most pertinent post from their site:

Fapturbo is first real money making robot. I am on forex personally from 2001 and never saw anything like that.

However You should always remember that when you win someone loses on the other side and money does not come from nowhere. And other side will try their best to prevent you from making money. And in our case broker is our "enemy". Here are the weapons of your broker :

1. Spread Size.

By increasing the spread size from normal 3-4 to ridiculous 11-15 during night time without any normal reasons (such as news events) will cause fapturbo to miss opening some trades (fapturbo filters automatically miss trades with invalid spread size) – that’s not a big problem if you miss few trades. However if the spread is increased when the trade is already open that could cause some real troubles to you and prevent from closing the trade correctly.

2. Disconnection errors.

By disconnecting your terminal during the time when fapturbo tries to close the trade broker can easily turn your winning trade into loser. That is obvious and we cant do anything about it. And when you ask broker they always have easy excuse “your internet connections sucks, sorry man”.. However keep reading…

2. OffQuotes/Requotes Errors. Especially exit offquote errors.

Exit [offquotes] problem is a real way how brokers fight against fapturbo and all profitable systems. I have such problem in different brokers, for example 2 days ago my trade with 15 lot could not close in FXCM for over 1.5 hours (!!) in the profit zone getting ridiculous offquotes errors and finally closed only when it came out from the profit zone to zero profit. Also I heard one guy on fapwinner failed to close his trade and hit stop loss.

WHAT WE CAN DO HERE

We cant do much about it as the decision to open and close the trade is made on the BROKER SIDE and fapturbo or any other trader is justsending REQUEST to do that but such request can be easily declined if the broker does not like it..

However few things were added in last version 23. Fapturbo is monitoring offquotes erros and if it gets such exit error it tries again with larger slippage . Also one new parameter was added for scalper slippage . Scalper exit slippage equaled to spread size by default however now you can increase it with this parameter.

That's why trading on real money differs a lot from trading on demo and I never trade any EAs on demo accounts personally as it gives me unrealistic profits that never happen on real money trading.

WHAT YOU CAN DO HERE

If you trade HUGE money you should consider that as a real problem and always be ready to call broker and close such problematic trade manually asap. Do not leave huge money trading unattended carelessly as broker will do his best to prevent you making money throwing away stupid offquotes, disconnection and other "weird" errors. That is a reality of life.

If you trade small deposit offquotes errors are very rare and your possible losses are small and limited by stop loss anyway...

ONE MORE ADVICE

Do not be greedy. Follow safe lot trading so even hitting a stop loss caused by broker dirty tricks will not result your account to be blown away in one trade. Fapturbo Scalper has fixed stop loss as 55-110 depending on pair.

[marlintrdg]

Originally Posted by GabyZ

Guys you should all read this http://forums.babypips.com/forextown...o-more-39.html

Happy to share.

Thanks a very informative link.
I see lots of Perp walks in some of these CEO's futures , reminds me of the 80's with commodities futures trading.

[Stormin_Norman]

there is a lot of misinformation about retail forex brokers.

most DONT take the opposite side of the trade. they match up trades (and take the spread profit) and pass the balance onto a bigger counter party.

the problem they have with FAP is that thousands of trades, all in the same direction, all at the same time come through there systems. they can't match them up and it costs them more then the spread to pass on because of the rush from all retail brokers as 25,000 FAP positions all at once attempt to get passed onto counter parties.

brokers are not out to get you if you are with a reputable firm.

ECN's for retail trading are far more expensive then MT4 or OandA. their marketing ploy of claiming to pass through your trades is silly.

there is no central market to 'pass through' to. every player from the smallest to the biggest in FX is a 'market maker'. there are thousands and thousands of markets in FX. matching trades and passing on the remainder is clearly the best method for a broker to operate, especially in the retail sector.

but get over the idea broker 's are out to get you. theyre not. they want more trades; not less.

the problem they have with FAP is not its profitability, its that there are too many copies of it trading causing them to lose money because they get swamped with orders they cant pass on.

which is part of my point why a truely successful EA will not (and can not) be sold for a couple of hundred. if it does work, then it will become a victim of its own success.

[GabyZ]

This is in your idea I guess, check the topic I linked, there's a transcript of a chat with the support talking about why they do not allow a lot of trades under 3 min....just check it.

You should stop to argue as in the last discussion, PipCop warned you and Jey....we are sharing facts and infos we found, not our ideas.

[Stormin_Norman]

Originally Posted by GabyZ

This is in your idea I guess, check the topic I linked, tehre's a transcript of a chat with the support talkinga bout why they do not allow a lot of trades under 3 min....just check it.

can you please quote the section. i dont feel like reading through 40 pages of conspiracy theories.

i have EAs which at times enter and exit a trade in just a few seconds (under 1 minute). i ask the broker if this is ok; and every time they have said it is.

they are out to stop FAP sending thousands of orders in at the same time. theyre not out to generally 'get you' though.

remember, if u cost them money with your trading methods, they will not stand for that. 25,000 FAP programs do that to the retail brokers. hence they mess with it or outright ban it.