RoboMiner Robot Review - LIVE ACCOUNT

[PipCop]

Here is a LIVE review of RoboMiner by Forex Goldmine. Starting on a live IBFX account with $200 real cash (thanks to donating members!) and 200:1 leverage we can follow it's progress here.

PLEASE NOTE: RoboMiner has a warning which indicates this account balance may be too small to trade, due to my leverage and account size.

This is setup on the AUDNZD 1H chart, it is using all default settings. More details are available from the from Forex Goldmine site.

>> Click here for the previous DEMO account thread.

>> IMPORTANT NOTE!
The Quick Stats balance (profits/losses) is multiplied by 25 ($200 x 25 = $5000) to simulate a $5000 account, so you can compare the profits to other demo accounts. The values in the frame below are actual.

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Should I buy/use this EA on a live account? - Government Required disclaimer - Earnings disclaimer

live_robominer

X12D

[GabyZ]

I'll start trading with this EA on live this week with leverage 400:1 and balance at 450$.

I'll wait for updates of this thread, very interested.

[Jey]

Hi Gaby.

I don't know what Broker you are using, but if it's IBFX I don't think you can trade with 400:1 leverage on a Mini account.

Besides, at 400:1 it's much more risky. Good luck though !

[GabyZ]

It's FxPRO, I'm on demo with the robominer and it goes fine. With the FXPro demo I used leverage 500:1 and decimals 1, no loses and the sum of all trades never went under -200

[masterpipper]

It's actually reccommended to trade with the higher 400:1 leverage , however, the amount of margin used on the trades is reduced accordingly.

Caveat: follow the directions and advice with the product explicitly. Due to the volatility and wide spreads that the brokers oftentime thrust upon us( IBFX, you listening?), trades take longer to close and/or take less profit that what we have been seeing lately.
Masterpipper

[GabyZ]

With FxPro the spreads are very small compared to others, even under 1Pip sometimes.

[masterpipper]

not for Robominer pairs. I would not go with published spread prices, but open a demo account or call their chat lines and get the spreads. I just checked on fxpro and the spread here is 27 pips which is a tad higher than the 25 pips I just got from ibfx for that moment and well out of their published 8 - 15 ( max spread ).

[GabyZ]

You mean that Fxpro has 25 pips spread or IBFX?

[masterpipper]

when I wrote that earlier the spread on AUDNZD was 27 on Fxpro and 25 on IBFX.
fxpro advirtises spreads of 8 to 15 pips on that pair. ( cough cough ) ibfx says spreads "as low as" 14. both have disclaimers and the only way to know who has the best spreads is to do a test over time.
Masterpipper.

[GabyZ]

Ok, I'll see. Check this page for FxPro Spreads https://www.fxpro.com/cfdforex, but they have the *** saying they'll change spreads following the Trms and Contitions....