FXGTC.com Xtreme EUR USD robot review - BUSTED!

[PipCop]

From www.fxgtc.com comes the XTreme series of robots which they have generously provided to PipCop.com at no cost. It is running with the default recommended settings except a starting balance of $10,000.

I am running FXGTX Extreme EURUSD on this statement, M1 chart.

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

fxgtc_eurusd

xp11

[Batchboy]

This is nice! Mine had gone up +22% in a week, but in last couple of weeks went backwardws
-19%. I have mine on excellent low spread broker fxpro, so it should be ok. Buuuut, it may simply be the holiday tumultuous market. I will be, as I say, nice to compare how pipcop's operation does in parallel with mine. Alpari-US has wider spreads on EURGBP like most are doing, widening spreads for liquidity reasons. Up I believe in 5 pip range . This EA does best when kept toward 3 pips. So we're using these in a tough time and it's "up in the air" how well they'll do (or even if we can believe how demos have done shown on their site)
jerry

[peteronmaui]

Their public account for eurgbp had tons of trades today, you had none. Why?
I hope this is not one of those that stops working when the spread is 2 pips too high.
Peter

[vimal]

How many of you have traded LIVE with EurGbp?
The outcome is very different to what their demo account shows
From my experience, there are several additional big losing trades that come through in live accounts versus their demo for whatever reason
Maybe the fact that live trades don't get filled whereas Demo trades do or visa versa. Who knows? Either way, I am with Alpari...which is the broker they use, I am on VPS so have no internet downage issues and also have real trades that have gone against me whereas their demo account doesn't show that
My opinion.....the EA does not work in live trading

[PipCop]

Originally Posted by peteronmaui

Their public account for eurgbp had tons of trades today, you had none. Why?
I hope this is not one of those that stops working when the spread is 2 pips too high.
Peter

I am not sure why, but time will tell.

Ultimately I would like to review all robots on live accounts but since the site is so new I don't have the revenue stream to do so quite yet.

[Batchboy]

Originally Posted by vimal

How many of you have traded LIVE with EurGbp?
The outcome is very different to what their demo account shows
From my experience, there are several additional big losing trades that come through in live accounts versus their demo for whatever reason
Maybe the fact that live trades don't get filled whereas Demo trades do or visa versa. Who knows? Either way, I am with Alpari...which is the broker they use, I am on VPS so have no internet downage issues and also have real trades that have gone against me whereas their demo account doesn't show that
My opinion.....the EA does not work in live trading

I believe their demo for Alpari is UK not US. UK has smaller spreads.
I did a back-test over 2 month period once recently, and the difference in the final result when spread goes from 3 to 5 pips on EURGBP is startling! $20K gain for 3 pip spread and $6K gain for 5 pip spread . The spreads have been wondering around this worser range and more.
So I'm demo testing on one of the supposed best low spread houses around, fxpro.com, and it remains to be seen if it even will be profitable to some extent since running it a week before Christmas.
jerry

[Batchboy]

Originally Posted by vimal

How many of you have traded LIVE with EurGbp?
The outcome is very different to what their demo account shows
From my experience, there are several additional big losing trades that come through in live accounts versus their demo for whatever reason
Maybe the fact that live trades don't get filled whereas Demo trades do or visa versa. Who knows? Either way, I am with Alpari...which is the broker they use, I am on VPS so have no internet downage issues and also have real trades that have gone against me whereas their demo account doesn't show that
My opinion.....the EA does not work in live trading

BTW, was for a short while doing live but had to cut-out as it seems just like you say, live doing other things than what demo is doing. So am staying on demo of late, but a lot of good this is going to do if desire is to go live, of couse. My original account took me from $750 to $580 over early part of holidays, so I cut-out.
jerry

[peteronmaui]

Originally Posted by Batchboy

I believe their demo for Alpari is UK not US. UK has smaller spreads.
I did a back-test over 2 month period once recently, and the difference in the final result when spread goes from 3 to 5 pips on EURGBP is startling! $20K gain for 3 pip spread and $6K gain for 5 pip spread . The spreads have been wondering around this worser range and more.
So I'm demo testing on one of the supposed best low spread houses around, fxpro.com, and it remains to be seen if it even will be profitable to some extent since running it a week before Christmas.
jerry

Maybe this explains why their public account at IBFX went down in December while that at Alpari went up. Spreads at IBFX were just plain awful before January 05.
But with all those 4 pip scalpers demos are completely useless. As soon as you go live, it's a different story, no orders get filled, due to lots of broker gimmicks like 'offquote', 'old price', or in extreme cases that the broker forbids you to trade the EA.
Peter

[mitaji]

After seeing the posts in reply to this EA I have a suggestion for its author. We cannot purchase your EA if it is based on demo account results and back tests. Why don't you test it on a live account? If you can use 1 lot on 3000usd account demo, just open a live account with 300 and even use .01 lots. I would like to see if this EA does the same performance on a live feed.

[PipCop]

The goal of PipCop.com is to test a robot on a demo account for 90 days and if it performs well then I will put it on a live account.