About 6 years ago I came across Forex Robot Trader website (google it if you're interested) and was lured by some robots they sell which have very big promises of lots of pips and profit and decided to buy the ganon robot. Perhaps we all start out this way, you know with shiny object syndrome and the like. I set up the robot and ran it on demo for a few weeks and was pleasantly surprised with the results, then I ran it on a live account. I could see for 3 weeks the robot was trading unbelieveably well and was returning 10% a week. I got so excited by the results I decided to register a company name and take the trading more seriously, so I stopped trading the live account and opened company account.
Here's a snapshot of the 3 weeks of results on the ganon live account, posted below, it traded in October 2016. Then I bought the Vader robot and began testing it while I recommenced live trading the ganon. The problem this time is the ganon didn't perform the same way as it did in the 3 weeks it went before. It started losing more and becoming very inconsistent. I was using the MT4 virtual server which appeared to be giving problems with cutting out intermittently, so I migrated the trading setup to another service. For about 3 years subsequent to this I kept having problems getting the robots profitable and I could never tell whether it was a congested VPS server, or I was trading too many pairs or the wrong pairs or risking too much or some other problems with settings.
I went through vendor support and found them unhelpful with fixing the problems, even though they did respond and provide me with custom settings, which didn't really work any better. I found the same sort of problem with the vader robot happened - Looked good initially but then didn't live up to any kind of profitable results long term (Even though I made over $2,500 on live account at one point)
Both the robots have the exact same characteristics. A very high win rate on the trade picks (75-90% winners). What was happening with both is you would get a score of 5-6 pip winners, some medium and high range winners then you would be landed a knockout punch with a 150+ pip losing trade which brought the trading behind. What I did do is continue demo trading on my vps with both robots over the course of 18 months and managed to glean stats on over 2,000 trades on each robot.
I put the statements into an advanced trade analysis software to see what was going on with the trading and I found some very simple, yet major flaws in the stoploss management on both robots. They are controlled in many cases by Average true range X 20 and a breakeven stop plus a few at 25 pips profit. The stops work very well to manage trades, however there's no maximum stoploss setting, therefore you can literally have 2-300 pip losers smack your account around in a big way. And even though the robots settings are very detailed, there are no maximum stoploss values that can be set.
After reading the trading statements in an advanced statement analyzer I could see some real gold - Out of 2,100 trades on vader I could see that there were very steep losses, more so than winners - About 300 losses were more than 70 pips and 175 of them were over 100 pips. (That's over 25,000 pips in losses alone, wowsers!). After plotting medium and high range winners on the MT4 chart I could see most (about 90%) of the winners would go straight into profit or no more than 20-30 pips behind before reaching profit.
I decided to code an EA to set a maximum stoploss of 70 pips on both the robots. I calculated 70 pips seems to be the sweet spot where, if it hits that level then the trade is very unlikely to turn around, however with further R&D I'm thinking of reducing it further to max 40 pips. I set it up again on my vps server last Thursday (25 July). So far it's only been 1 day but already the results are looking promising.
If anyone here is interested to know my progress, or has had experience with these robots and are interested to share info or help, please chime in.
Julian
Here's a snapshot of the 3 weeks of results on the ganon live account, posted below, it traded in October 2016. Then I bought the Vader robot and began testing it while I recommenced live trading the ganon. The problem this time is the ganon didn't perform the same way as it did in the 3 weeks it went before. It started losing more and becoming very inconsistent. I was using the MT4 virtual server which appeared to be giving problems with cutting out intermittently, so I migrated the trading setup to another service. For about 3 years subsequent to this I kept having problems getting the robots profitable and I could never tell whether it was a congested VPS server, or I was trading too many pairs or the wrong pairs or risking too much or some other problems with settings.
I went through vendor support and found them unhelpful with fixing the problems, even though they did respond and provide me with custom settings, which didn't really work any better. I found the same sort of problem with the vader robot happened - Looked good initially but then didn't live up to any kind of profitable results long term (Even though I made over $2,500 on live account at one point)
Both the robots have the exact same characteristics. A very high win rate on the trade picks (75-90% winners). What was happening with both is you would get a score of 5-6 pip winners, some medium and high range winners then you would be landed a knockout punch with a 150+ pip losing trade which brought the trading behind. What I did do is continue demo trading on my vps with both robots over the course of 18 months and managed to glean stats on over 2,000 trades on each robot.
I put the statements into an advanced trade analysis software to see what was going on with the trading and I found some very simple, yet major flaws in the stoploss management on both robots. They are controlled in many cases by Average true range X 20 and a breakeven stop plus a few at 25 pips profit. The stops work very well to manage trades, however there's no maximum stoploss setting, therefore you can literally have 2-300 pip losers smack your account around in a big way. And even though the robots settings are very detailed, there are no maximum stoploss values that can be set.
After reading the trading statements in an advanced statement analyzer I could see some real gold - Out of 2,100 trades on vader I could see that there were very steep losses, more so than winners - About 300 losses were more than 70 pips and 175 of them were over 100 pips. (That's over 25,000 pips in losses alone, wowsers!). After plotting medium and high range winners on the MT4 chart I could see most (about 90%) of the winners would go straight into profit or no more than 20-30 pips behind before reaching profit.
I decided to code an EA to set a maximum stoploss of 70 pips on both the robots. I calculated 70 pips seems to be the sweet spot where, if it hits that level then the trade is very unlikely to turn around, however with further R&D I'm thinking of reducing it further to max 40 pips. I set it up again on my vps server last Thursday (25 July). So far it's only been 1 day but already the results are looking promising.
If anyone here is interested to know my progress, or has had experience with these robots and are interested to share info or help, please chime in.
Julian
Attached Image (click to enlarge)
