forex-goldmine.com - Gridweaver robot review - BUSTED! -$4997

[PipCop]

It's just running on the default settings, as indicated in the first post.

[Batchboy]

Pipcop wished for me to post this, I don't want to half-wise as I don't wish to accidentally insult forex-goldmine folks! It was good EA ansd service, so I am merely talking about the trend moves aspect of the drawdowns created thereupon, ok? Thx.
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BTW James, just to give you some perspective, GridWeaver had it's big earthquake,
my account hit my setting I backed-it-up to of 43% !!! It had for a month and a
half worked up to $400 from $300, then it hit, bad news from Gov again caused EURGBP
to trend and that was bad news for GW. So lots of EAs have I believe have their
"Achiles Heel", none I believe will be perfect. Just so happens, just
like shortly after introducing GW to a friend it hit him as well as me, him a little
less because we thought it settled-out but it kept going instead! 660 pips climb
in all! And so it be with some kind of phenomenon with this EA I give you, worst
worst cases, and now I have Xtreme, a scalper, it's cool, but has its loser
trades on occasion, and not sure how much broker will tolerate since it is quite
good otherwise, so again, something possibly bad.
I just say all this as perspective, you were even recommending GW/Robo to me to
buy instead of y-oww when unbeknownst to you we had gone thru an 8.0 earthquake
with them, LOL :-O So all these EAs, who knows how much good to the bad there
is unless you run them much much longer, but then, you do have the threads for them
so those who hang around can help follow up.
Truly,
jerry

[geekguy]

My advice for anyone using a grid system is to have compensating MACD strategies employed to take advantage of breakout trends in order to eliminate those sorts of scenarios. Another thing that you can use is a range breakout system that you can set a high and low entry on. Or set some protective limit orders above and below your grid area with tight trailing stops. There are many ways to protect yourself when you are in a grid, you just need to think about those ways ahead of time. Also, I suggest ensuring that you have very conservative settings i.e. very low lots. Don't be greedy, any investor able to make consistently over 20% a year is golden, so if you do more with a conservative forex strategy be happy and move on. Its all about money management , strategy and risk/reward ratio.

[626MX]

I am retiring my gridweaver subscription at the end of the month. Nice people/support its just too risky.

[Batchboy]

Originally Posted by 626MX

I am retiring my gridweaver subscription at the end of the month. Nice people/support its just too risky.

Wished you were quicker on the draw pal.
Didn't even THINK it would have another big earthquake so soon! I had already left it a week ago for another live EA, apparently in the nick of time. Depending how how recent you started-up yours, is half your account left? There is a setting at which you wish to begin closing open trades, usually that's 50%, and another setting for how far to close everything down, usually that's 55%, but you can choose how you like in those variables.
I feel bad because I had a web buddy to get on this, he's put a few K on it, and now 1/3rd is deep doo-doo'd in this open trade muck. But I'm making it up to him with new precision EA which has none of these issues! LOL
This has been far too quickly recurrring a thing. Maybe RoboMiner, being more conservative, is better in this respect.
jerry

[Togu]

Hi Batchboy!
I've heard u've bought ea from the fxgtc.com. I wonder how it is perfoming? Would you update us?? I couldn't find a thread, if there is please redirect me!

[PipCop]

Icon updated for carrying 50%+ drawdown for more than 1 week.

[PipCop]

Well this one has not been performing as well as Jerry's other robot (RoboMiner) and has finally wiped itself out.

This robot has been BUSTED BY PIPCOP!