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Previous robot reviews Previous reviews of robots, some good, some bad.
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Old 2009-03-16, 03:42 PM   #41 (permalink)
Pip Officer
 
Trader for 8 + years
Location: Maui
Posts: 60

Angry

Quote:
Originally Posted by jsp View Post
Thanks. I read the positive comments from Cindy as well as a negative review at www.forex-systems-reviews.com, so I've been wondering about this one. The bottom line that it needs more than 90% winners to be successful because it uses a 30-pip take profit and 300-pip stop. It will be interesting to see how it performs over time...
Strange
I had lots of shorts today in eurusd only 5 pips away from each other, some of them got stopped out with a 135 pip loss, reducing my account size by 25% within minutes. Did not happen with any of the demos here.
Peter
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Old 2009-03-17, 08:01 AM   #42 (permalink)
Donating member
 
Trader for 1 - 2 years
Location: UK
Posts: 13


Trading Live with:
GT-Shadow, Megadroid
Default

I had the same thing afew days ago - about 15 near identical trades openned within a couple of minutes of each other on the EURUSD.

Fortunatley they went in my favour but it easily could have not done so!

I think there is a bug in the software.
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Old 2009-03-17, 03:01 PM   #43 (permalink)
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Trader for 0 - 1 year
Location: UK
Posts: 28

Default Fridays....

Hey...

Was looking through the trades in the demos accounts. I noticed on all the demo accounts, especially InterBank there was 4 big losses that occurred on a Friday. I recommend changing the setting "Friday" setting to zero, so that it does not trade on such a day.

Just a thought,

Thanks.
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Old 2009-03-19, 03:16 PM   #44 (permalink)
Pip Officer
 
Trader for 8 + years
Location: Maui
Posts: 60

Default

Quote:
Originally Posted by peteronmaui View Post
Strange
I had lots of shorts today in eurusd only 5 pips away from each other, some of them got stopped out with a 135 pip loss, reducing my account size by 25% within minutes. Did not happen with any of the demos here.
Peter
Same thing happened with the USDCAD on 3-18. 5 Long fills in one down bar, stopped out 18 hours later for a loss of 30% of account. Again nothing like it on PipCop demos.
Peter
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Old 2009-03-26, 02:11 PM   #45 (permalink)
Pip Detective
 
Trader for 2 - 4 years
Location: Colorado / NZ
Posts: 145

Send a message via Skype™ to Killer-B
Trading Live with:
Forex Funnel
Default

Interesting... if this is Firebird repackaged (FirebirdV63H02-TS.mq4) I wouldn't be surprised - except that Bluto is the author of the "original" and I tested it thoroughly in 2008... and it *will* eventually blow up your account... I also am part of Bluto's "club" (for the lack of a better term - but paid my $ to get in) and tested 4 of his bots... I've referenced Jitterbug on here before... a martingale system with potential but no solid exit strategy...

Anyway - he's not in "the game" for profit (selling EA's) - or at least that's the impression I've got over the years - plus he closely guards his EA's and members/forum... So, me thinks someone else has done the deed here.. but could be wrong... just doesn't sound right to me...

My .02 cents

KB
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Old 2009-03-27, 05:39 PM   #46 (permalink)
Pip Detective
 
Trader for 2 - 4 years
Location: Colorado / NZ
Posts: 145

Send a message via Skype™ to Killer-B
Trading Live with:
Forex Funnel
Default

Well, as said, Firebird will blow up your account LOL - I loaded "Maestro" (orders did place as FirebirdV63) and doubled the account in the first 6 hours ($450 to $900+)... and then blew it up over night... I used the 4 recommended pairs and 2 were default setting, 2 were the "recommended" .set.... and yes, it was a live cash account... No Holy Grail here!
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Old 2009-03-27, 06:21 PM   #47 (permalink)
jsp
Rookie Pip Officer
 
Trader for 4 - 8 years
Location: Alabama
Posts: 33

Default

Quote:
Originally Posted by Killer-B View Post
Interesting... if this is Firebird repackaged (FirebirdV63H02-TS.mq4) I wouldn't be surprised - except that Bluto is the author of the "original" and I tested it thoroughly in 2008... and it *will* eventually blow up your account... I also am part of Bluto's "club" (for the lack of a better term - but paid my $ to get in) and tested 4 of his bots... I've referenced Jitterbug on here before... a martingale system with potential but no solid exit strategy...

Anyway - he's not in "the game" for profit (selling EA's) - or at least that's the impression I've got over the years - plus he closely guards his EA's and members/forum... So, me thinks someone else has done the deed here.. but could be wrong... just doesn't sound right to me...

My .02 cents

KB
I've heard of that club/website. Do you think Bluto would allow any of his EAs to be tested here? Have any been profitable over the long term?
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Old 2009-03-27, 08:51 PM   #48 (permalink)
Pip Detective
 
Trader for 2 - 4 years
Location: Colorado / NZ
Posts: 145

Send a message via Skype™ to Killer-B
Trading Live with:
Forex Funnel
Default

Quote:
Originally Posted by jsp View Post
I've heard of that club/website. Do you think Bluto would allow any of his EAs to be tested here? Have any been profitable over the long term?
Do I think he would mass market this in this manner? Personally, from what little I do know of him via the "club", I find it very hard to believe that he would allow it - let alone promote it in the fashion that it has been (very "TurboFAP" - "Get rich overnight" kind of pitch) that is so not his style... For as mentioned before, he runs a very tight ship, and keeps his codes and forum and members very well protected... I had to go thru several "sites" and boards to actually find his "main" forum - and then had to pay to join before even seeing the "activity" going on... So, that alone shows you just how protective (or secretive) he is and don't think he'd allow or be involved or approve of this marketing method...

Speaking of which... I didn't see the Maestro site/advert (crap) till after I had posted on this thread... and once I had installed the code (from Page 1 here) and the .set from a different page... and it started trading, I then saw it was indeed "Firebird" in drag...

So, IMHO, there's no question that this person has ripped off Bluto's code and re-packaged it for profit... as there is little documentation - and the fact that they didn't even bother to send the code out to have "Firebird" brand removed from the .ex4/mt4 file proves to me that something fishy is going on....

Or, if you don't believe that theory... "Bluto" has a pretty strong name in the EA world, so, would you not want to "promote" that on your Maestro site to give it some added credibility? (or are they afraid people will trace it back to Bluto and bust them - like we're doing now? LOL)... I think it's a little of both... but again, is just my opinion, as I've not contacted Bluto - yet... but intend to write him this weekend and ask about it.

As to "do they work" or not... I asked PC to see about getting some of his EA's back in SEPT as I offered once to run Jittterbug (demo version) on here, but he refused, as he doesn't allow for EA sharing (which is both fine and proper)... but it was just a demo version... Either way, I tested 2 versions of Firebird, his "Jitterbug" martingale system and one other that was a hybrid of Firebird and JB if my memory serves me... and they all started out "nice"... but soon blew up my demo accounts... Each have their respective quirks, and are completely different in nature... Firebird got allot of praise and buzz in the early days (like version 1.0X) but as it progressed through development, it seemed to not function as well.. There are some that will swear by the original version(s) and still run them today... I have a copy - and would like to see it truly run through it's paces here, or somewhere - forward tested... as I'm done with all the marketing hype and games in the EA world - The list to the left of the page of all the failed bots, shows there are no commercial EA's worth a damn out there... and as I always say, if there is one, we couldn't afford it - and they'd certainly not be selling it for $97 to the masses via these reproduced cheesy marketing/affiliates sites.... If I had the time and money, I'd sue every one of these idiots for false advertising that promotes on YouTube and via the web about these miraculous gains and profits they claim to make... It's all a scam... PC has proven it over and over and over again.... And now, I think he's starting to crack the nut on the "broker" world... and exposing the ugly underbelly that may lie within .... Seems not all brokers are on the up and up either..... Sad world we live in these days...

TMI probably.... but no, I wouldn't recommend any EA - and would not pursue a Bluto membership as there has been nothing "new" out of that camp (that I know of) in the past 10 months...

GL -

KB

Last edited by Killer-B; 2009-03-27 at 08:58 PM.
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Old 2009-03-28, 09:14 PM   #49 (permalink)
New user
 
Trader for 2 - 4 years
Location: Los Angeles, CA
Posts: 1

Default

Maestro is indeed a rip off of Firebird. That much appears to be conclusive. They have no support forum and don't answer any support eMails, unlike FAP Turbo.

There are several forums with threads going re Maestro/Firebird, 2 of which have very good info for those interested in using Firebird successfully.

This thread details several options for taking advantage of the good aspects of FB and mitigating the flaws, ie: big draw downs and serious losses...

http://www.forexforums.org/commercia...-feedback.html


This thread describes "Driving the EA", which is following major trends and only trading with the trend ...

http://www.forexfactory.com/showthread.php?t=150080


Maestro/Firebird will drain your account if you leave it unattended, and the above threads describe ways of managing the EA to maximize its potential, and still take advantage of semi-automated features. All participants are serious traders - some new, some experienced.
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Old 2009-03-31, 08:56 AM   #50 (permalink)
Donating member
 
Trader for 1 - 2 years
Location: UK
Posts: 13


Trading Live with:
GT-Shadow, Megadroid
Default

Hi,

I think I've found why loads of trades were being openned in close proximity to each other - its to do with the Pipstep value which sets the interval between trades when the trend is going against you.

If you have a 5 digit broker it should be set to 300 (not 30) to give a 30 pip gap between sucessive open trades.

It seems to have fixed the problem on my setup.
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