ProForexRobot - Pip Cop

**pipdetector** · 2010-05-27, 08:09 PM

I have just purchased ProForexRobot.

The backtests show nice slowly growing line of profits. Money management

shows 7 level of martingale position size increases, however the backtests show that usually up to 5 levels are reached. The maximum drawdown

does not exceed 10%.

I am a bit unsure about the 4 strategies that are supposed to be selectable ranging from conservative to superaggresive. Backtests show only marginal difference between them that shows only over years.

**rsmereka** · 2010-05-28, 08:56 AM

Quote:

Originally Posted by pipdetector

I have just purchased ProForexRobot.

The backtests show nice slowly growing line of profits. Money management

shows 7 level of martingale position size increases, however the backtests show that usually up to 5 levels are reached. The maximum drawdown

does not exceed 10%.

I am a bit unsure about the 4 strategies that are supposed to be selectable ranging from conservative to superaggresive. Backtests show only marginal difference between them that shows only over years.

I am very glad you posted this review,

I have had my eye on this for a while now. It is one of my candidates.

How about a link to one of the hosted stat sites so we can watch the progress? If you don't want to do that, I can help hosting it using my account on MyFXBook.

Check this review on forexpeacearmy which just started May 27th.

Rick

**pipdetector** · 2010-05-28, 09:22 AM

Rick,

I have put the EA on my demo account that host a whole bunch of EAs (FM, DelphiScalper and etc.). I am afraid that this would be too confusing to provide any insight.

So far PFR has made 5 trades, of which only one was a winner. It does not trade on Friday, so we'll see how it fares on Monday...

**rsmereka** · 2010-05-28, 12:14 PM

Quote:

Originally Posted by pipdetector

Rick,

I have put the EA on my demo account that host a whole bunch of EAs (FM, DelphiScalper and etc.). I am afraid that this would be too confusing to provide any insight.

So far PFR has made 5 trades, of which only one was a winner. It does not trade on Friday, so we'll see how it fares on Monday...

Ok then,

In that case, you'll have to update us on PFR's progress. The demo on FPA is not doing well at all.

I have also been looking at Forex Photon and PipsMiner SE. There are long-term demo results for PipsMiner. It supposedly rakes in about 2% per week. Photon is much newer. It trades a lot of pairs and the FPA demo (FXPro) is just over 5 weeks old. It's also supposedly a 2%/week earner.

Rick

**rsmereka** · 2010-06-01, 12:48 PM

Interesting discussion on this EA http://www.donnaforex.com/forum/inde...e;topic=2270.0.

Rick

**pipdetector** · 2010-06-01, 04:33 PM

Well, as far as hiring actors for the marketing pitch is concerned this seems a rule now. I believe most of the guys on the videos are fake. It's enough to observe the way the talk, every single word is spelled out, this is too professional and I can hardly imagine an EA developer provide such a show :0)

What I do not like is the idea that the EA may have hardcoded some variables that may cover for any large losses in backtesting -- this would be outrageous.

BTW, it seems that GT-Shadow/Robominers authors have published a martingale EA too. I must admit that I like the backtest results and I trust these guys more than all those anonymous EA pushers.

The biggest drawback for Pipstrider is that it is sold only by subscription. So it will cost quite a bit. The good thing is that you can trust the EA source.

**PipCop** · 2010-06-01, 05:08 PM

I'm actually running a live demo of PipStrider right now, which I will try to get up to the site shortly. So far it's pretty good.

I am not a fan of the monthly subscription model at all. It's fine if you have a $5k account, but that means you have a smaller account then you may spend more than your profits each month, which I worry will scare away smaller traders. Not everyone has $5k (I sure don't) to start with.

However, you can download a free demo copy at www.GTShadow.com.

**rsmereka** · 2010-06-02, 08:34 AM

Quote:

Originally Posted by PipCop

I'm actually running a live demo of PipStrider right now, which I will try to get up to the site shortly. So far it's pretty good.

I am not a fan of the monthly subscription model at all. It's fine if you have a $5k account, but that means you have a smaller account then you may spend more than your profits each month, which I worry will scare away smaller traders. Not everyone has $5k (I sure don't) to start with.

However, you can download a free demo copy at www.GTShadow.com.

Thanks a bunch Pipcop,

I am also very interested in this newest Goldmine EA. I also do not like monthly subscription based EA's but I'll have to see the performance of this one to figure out how large the account would have to be to justify the expense.

Rick

**PipCop** · 2010-06-02, 08:55 AM

So far my demo on a $2k account has made $32 in a few days. It's been super slow for the past 2 days, though, and has made nothing. So it seems like it could make the $60 fee in a week or so, and then make profits after that. Jerry said that on a $5k account people could expect to make $300 to $600 per month, which would more than justify the fee. If that is the case, then sure, that seems reasonable.

**pipdetector** · 2010-06-02, 09:04 AM

Theoretically you could start with $2000 account -- when the aggresive mode is used the EA doubles the account in ca. 8 months with the recommended currency

. There is a risk that you may lose the whole account if a black swan hits, but if everything is OK, you can remove the original $2000 and play with the house money...

If it worked $720 a year would be acceptable, as the fee would be fixed (hopefully) and the profit should double with time (hopefully).