ForexRobotTrader.com robot review - BUSTED! -$3,318 - Page 12 - Pip Cop

Killer-B · 2008-12-30, 03:07 PM

PC - are you adjusting the lot size from .05, to .04 to .03 and now down to .02? Or is MM doing that because it's LOSING so badly

**PipCop** · 2008-12-30, 08:19 PM

It's all automatic. I'm completely hand-off on a robot, and if I make a change I always post details.

Killer-B · 2009-01-01, 09:20 PM

Barring a miracle comeback... This one should be toast this time around.... as the 46% DD's will get you callled out...

Or titled "How to blow up $5K in 60 days"... by Don Steinitz

Profit: 0.00
Gross Loss: 1954.64
Total Net Profit: -1 954.64
Profit Factor: 0.00
Expected Payoff: -244.33
Absolute Drawdown :1954.64
Maximal Drawdown : 1954.64 (45.73%)
Relative Drawdown : 45.73% (1 954.64)

Ken Long · 2009-01-01, 10:19 PM

TOAST!!

no stop loss, no acceptable exit strategy, no such thing as a no loss EA in forward testing

**PipCop** · 2009-01-02, 10:03 AM

Thread title updated for going below $2500.

**PipCop** · 2009-01-22, 04:37 PM

I've finally closed this one due to it really not performing very well. Perhaps we'll retest it later, but it's been so far down for so long it just doesn't seem worth it to me.

BUSTED!

Killer-B · 2009-01-22, 04:46 PM

I say let it run into the ground... so Don can't come back at you (us) and say "ya but...." -

Look, I wanted the bot to recover as I believed his BS and site claims, and at *some* level, it does work.... he just refuses to do anything - or show anything - on his site about the astronomical drawdown

's - and that is false advertising - and deceptive - Point

being, he initially got allot of praise on the boards when the bot would crank out 100+ small winners - just to be wiped out with large losers... The no S/L theory (for this EA) is suicide... and the FACT that this EA does NOT do what it advertises - should be grounds for a refund - or maybe even a class action...

Let it die completely so it will show the world how rubbish this EA truly is....

Killer-B · 2009-01-22, 04:50 PM

Errr - well - I see you've already pulled the plug... Oh well...

So then, to you Don Steinitz - I give your EA after 90+ days of losses the big send-off

Go back to dealing cards mate

**PipCop** · 2009-01-22, 05:03 PM

Yeah, I pulled the plug. Sure, it's making a few dollars here and there, but the reality is there are other robots out there that are doing far better. The huge wipeouts make this robot unsuitable for me, personally. I don't know about anyone else, but when it loses more than 25% of my equity in a few hours, that scares me.

He does have a new version out, however, which I'll try to get up here in a demo as soon as I can.

Ken Long · 2009-01-22, 06:04 PM

I stoped testing this one a few weeks ago, it started slowing down my computer so much I couldnt do anything else. Even with all the indicators turned off it still draws a lot of power. But beyond the simple power needs, which my computer should be able to handle, just running it 24hrs a day seemed to cause problems. ?

I dont know what could be done with this program, but it does trade very well at times. I've seen it go on streaks where it just cleaned up. In a more stable market environment it might perform much better, the current volitility is hard on a lot of mechanical systems that werent specificaly designed to deal with it.

Other than that the problem comes down to the fact that this is simply a moving average system using a very lagging smoothed average. In strong well confirmed trends it can hold and come out a winner, but even then it often goes through large drawdowns to get to its small goal. Theres got to be a way, I just dont see it right now, and there are so many other interesting EA's to test.

I'm still interested in this program, but for now its on the shelf.