BUSTED - GT Shadow forex robot review - 4 brokerages at once!

[cookies]

Hey Pipcop - fantastic site!!

I like the discussion around GT-Shadow, and the suggestion to go with RoboMiner first if you're inexperienced (<-- me:new to forex, expience with stocks, commodities).

I set up Robo on an IBFX demo account over the weekend on default settings, and GT-S on Alpari (default settings + Pipcop's recommended settings) just to start fiddling with it to learn. Eventually, I'll put Robo on live. GT-S only when I have a healthy understanding.

I'm also manually trading another demo account just to learn forex trading a bit (with a little success).

Re: learning Robo - Just start playing with the settings and see what happens? Same with GT-S?

A question on forex brokers - it sounds like many forex brokers game their clients (or, at least are somewhat adverse to them). Is this something they **must** do to provide commission free trades, or are they just being greedy? If there's a resource someone could point me to, I'm happy to read up on my own.

Thank you for your patience!

[PipCop]

Originally Posted by cookies

Hey Pipcop - fantastic site!!

Thanks!

Originally Posted by cookies

Re: learning Robo - Just start playing with the settings and see what happens? Same with GT-S?

You can back test both robots with MetaTrader - to some extent. Back testing allows you to see hypothetically how the robot would have behaved in the past. However, due to incomplete data, the results will never be as accurate as forward testing on a demo account. While you can play with the settings, GTS also has features which are impossible to back test (such as trading across multiple currencies) in MetaTrader, so you can only forward test. Ultimately, the settings for GTS are so complex you really have to play with them to fully understand them all, and it's hard for anyone to suggest settings that meet your investor criteria and risk level, etc., so you get to do it on your own!

Originally Posted by cookies

A question on forex brokers - it sounds like many forex brokers game their clients (or, at least are somewhat adverse to them). Is this something they **must** do to provide commission free trades, or are they just being greedy? If there's a resource someone could point me to, I'm happy to read up on my own.

From what I can tell, it's just greed. Check the thread about MT4 settings on the broker side here:

http://www.pipcop.com/forums/general...pany-side.html

It's an interesting read ... especially the link off-site.

[rsmereka]

Hey Pipcop,

I was doing some research and realized that your setups are not the same. There are two different lot sizes being used:

Alpari is using one mini (about .56 per pip), 10 micros
IBFX is using one nano (about .0056 per pip)
EuroOrient (whatever that is) is using one mini
FXDD is using one nano

Assuming a start of $5,000, with a straight up BalanceFactor (default) of 2,000, each trade should generate a lot size of 2.5 micros (one micro per $2,000 balance) (0.025 in standard lot notation, 0.25 in mini lot notation).

The Alpari and EuroOrient instances look like they are standard lot accounts which cannot open a trade less than one mini.

Apoligies if this is covered in another post.

Rick

[PipCop]

Yeah, you are absolutely right, but it was covered a few times already.

At this time I figured I would just let them run. It kind of simulates a "low risk" versus "high risk" scenario in some ways.

[kanakorn]

i want to know about balance factor setup defult is 3500 if i investment 5000 $. how i do it?

[PipCop]

The balance factor is covered in the manual.

For $5000:

If you use BF of 5000, then it will open (for example) 0.01 lots.
If you use BF of 2500, then it will open (for example) 0.02 lots.
If you use BF of 10000, then it will open (for example) 0.005 lots.

Get it?

[cookies]

I'm shadowing PipCop on these two EA's (and one other I found on MQL4...the recent championship winner MasterMind3...just to explore a little more).

What should I do for Friday and weekend trading? Should I rely on the EA to do the right thing? It seems to make sense that a well designed EA will do the right thing.

I searched these forums with no luck on this, any thoughts, comments are much appreciated.

[PipCop]

I let them run 24x7 and they've done fine every since I started the first demo way back in ... January? Let 'em run!

[cookies]

Update: I found your vps ads....thank you...please ignore



PipCop, can you recommend a VPS? Do I really need a forex related host?

From where I stand, it sounds like I can get any hosting service that has a Windows server option, then just install MT4 demos on my own.

Any bandwidth considerations I should have? The data signals are prolly pretty low gbs/month...would I really need more than a couple gigs per month allowance?

[PipCop]

Yay for ads, huh?

Anyway, you can use any VPS service, but I'd probably say find one who is Forex related so they understand the setup and requirements (100% uptime!) regarding Forex traders.

Personally, I run my own VPS servers, so I have never actually used any and don't really have any recommendations.