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  • #41
  • Feb 27, 2010 4:02am Feb 27, 2010 4:02am
Quoting The flame
You never enter a new place yelling that you already know how to do something.. That was my approach... Better letting people think you're a newbie so you can choose the ones that really help you instead of saying bs... However that was the result not of a single trader, but actually of three different managers trading with several strategy and letting the mirror send those order to a single account... It was just to give the idea i was talking about ie gaining more than 1-2% a day (it's actually 1.78% compounded).. But it was of course a very very...
Yeah I can see it was very risky...alot of the big winners came from adding to losing trades (can tell by the random spike in lot sizes). Wouldn't be trading my own money like that for sure. Actually I wouldn't trade other peoples money like that either.

Anyway...I still would like to see statement for the feb16th onwards if you have it.
Trading is my life
  • #42
  • Feb 27, 2010 7:33am Feb 27, 2010 7:33am
if you mean the fusion bot statement of course, just wait for monday because i'll be out till then....i will post two of them: from feb 16 and from feb 22, the first with alpari (nothing really particular because it stopped a lot of trades causing some problems and unexpected losses) and the second from mig (the one i prefer because i know the broker and iot never block ea and so on...) of course are demo as i told you for two reasons: the first because the bot can run only on 1 live account a time, so i can eliminate this problem using the mirror, the second because as often happens this bot behave a little better with demo accounts....
regarding the lot size isn't anything particularly unknown, it's just the straasha system that use a martingale step lot to recover losses scalping few pips (5-6) you can easily solve the problem modifying the lot step and reducing it (i did it yesterday because it actually sent a couple of high risk trades that lasted only 3 mins..) now i solved reducing this step by 10. that's it!
the most important thing is to understand what's behind every bot and strategy:
hirider scalps and swings with 10 pips target (ADJUSTABLE) so you know what to expect, straasha scalps and use martingale lot step to recover losses, lmd is more complicated and RR is trying to decode it too, but anyway use an interesting diversification and present interesting risk-rew levels..
i got pissed a little bit on my first post here because is always easy saying that something is a scam, but if u say that because you actually HAVE it and watched the logic behind is a thing, if u say that just looking at the statement...well there is no logic and reason behind such an opinion...!
however time will tell....i don't exclude, once we decoded the whole logic behind to modify (if needed) the rules followed to, let's say, "upgrade" it.
By now i'm experimenting and forward testing....then we have our bot (based on manually traded strategy...).
But this is the first robot that found a positive interested by ours programmer...(who is the most strange and particular guy i've ever met!!)
  • #43
  • Mar 3, 2010 3:17pm Mar 3, 2010 3:17pm
Hello all!
Well, after looking at the amazing results of the LMD multicurrency, Hiridder... and than the Fusion, i was wondering, theres is any trader that is using it with good profits????????

Sincerelly another thing really weird to me is that in internet i cannot find any single website to buy the LMD multicurrency or Hiridder, but i can buy just the Fusion! Ins't it a bit wierd?

Regards,
  • #44
  • Mar 4, 2010 3:14am Mar 4, 2010 3:14am
Quoting The flame
and use martingale lot step to recover losses
and that where the problems lay imo.
Trading is my life
  • #45
  • Mar 5, 2010 1:40pm Mar 5, 2010 1:40pm
Hi Guy's

I was one of the mugs that bought the system, at first it seemed to be a winner.

This did not last long it has lost 50% of my stake money I have also tried to contact FRW and the email keeps bouncing back saying that there inbox is full.

So please be aware before buying.

Will
  • #46
  • Mar 6, 2010 1:15am Mar 6, 2010 1:15am
Anything that can go wrong will go wrong! I wonder if FRWC will pull through? After analyzing the systems for the past two weeks and trading a live account alongside a control demo, I have to say that the only EA that I'm still interested in is LMD.

HiRider Has horrible RR and only useful in a ranging market but, still not worth the risk even then. It's break even point is in the 90%! That's ridiculous.

SuperVolcano is a complete wildcard and too risky as well.

Strasha has horrible RR and just sucks in my opinion.

Neg-Corr is virtually non-productive.

LMD - I like. When it sets S/L & T/P the RR is good. I think it needs some improvement but, I am comfortable with it. Is it worth $1,000. Well, I don't think so...

I think judging a forex contest on ROI alone is a mistake in the first place. The lifeblood of a lasting system is RISK MANAGEMENT, not naked profit potential.
  • #47
  • Mar 6, 2010 1:18am Mar 6, 2010 1:18am
Quoting B11rpc
Hi Guy's

I was one of the mugs that bought the system, at first it seemed to be a winner.

This did not last long it has lost 50% of my stake money I have also tried to contact FRW and the email keeps bouncing back saying that there inbox is full.

So please be aware before buying.

Will
Smells like mass exodus for FRWC... We'll see.
  • #48
  • Mar 6, 2010 2:45am Mar 6, 2010 2:45am
Quoting B11rpc
Hi Guy's

I was one of the mugs that bought the system, at first it seemed to be a winner.

This did not last long it has lost 50% of my stake money I have also tried to contact FRW and the email keeps bouncing back saying that there inbox is full.

So please be aware before buying.

Will
Will,

I'm so sorry about that. I have bought Ivybot, and its not working.... it just make losses trends. Just as happened to you, they didn't answer my emails....
Is it possible that these people do shame things like this and nothing happens?!!!

Regards,
  • #49
  • Mar 6, 2010 5:49am Mar 6, 2010 5:49am
Quoting B11rpc
Hi Guy's

I was one of the mugs that bought the system, at first it seemed to be a winner.

This did not last long it has lost 50% of my stake money I have also tried to contact FRW and the email keeps bouncing back saying that there inbox is full.

So please be aware before buying.

Will

Oh thats not good. Do you have statement of it trading saved at all? I would like to see it and maybe write article on it. Let me know.

[email protected]



I have also recieved and email that FRWC is closing it's door to new memebers....what ever that means.
Trading is my life
  • #50
  • Mar 6, 2010 5:52am Mar 6, 2010 5:52am
Quoting madmatz
LMD - I like. When it sets S/L & T/P the RR is good.
what is the the risk to reward ratio at time of entry though. Quite often these Forex robots quote rgeat risk to reward ratios but they are based on after the even closing of positions. So when they have a good winning streak the R:R looks great. But then you look at the target price and stop at entry and it is actually 15 pips target to 70pips stop or such like.
Trading is my life
  • #51
  • Mar 6, 2010 8:22am Mar 6, 2010 8:22am
Quoting Hooya
what is the the risk to reward ratio at time of entry though. Quite often these Forex robots quote rgeat risk to reward ratios but they are based on after the even closing of positions. So when they have a good winning streak the R:R looks great. But then you look at the target price and stop at entry and it is actually 15 pips target to 70pips stop or such like.
Risk Reward is calculated based off of the actual profit / loss.

When the actual data is not available, the expected profit / loss is used.
  • #52
  • Mar 7, 2010 1:52am Mar 7, 2010 1:52am
Quoting Hooya
what is the the risk to reward ratio at time of entry though. Quite often these Forex robots quote rgeat risk to reward ratios but they are based on after the even closing of positions. So when they have a good winning streak the R:R looks great. But then you look at the target price and stop at entry and it is actually 15 pips target to 70pips stop or such like.
RR for LMD at time of entry is usually 1:4. Risk being the S/L placement and Reward being the T/P placement. It often exits before hitting either target though.

I don't like to call actual profit/loss the same thing as RR since it does not necessarily reflect the true risk of a system. Take HiRider as one example. During the contest it appeared to have a decent RR however looking at the system it has a RR of about 20:1 which is unacceptable to me.

The relationship of actual loss to actual profit is very important however, I call this the Pay for Profit ratio and I use average Loss & average profit as a percent of the balance. Basically how much do I pay for my profits, and how good are those profits in relative terms.
  • #53
  • Mar 8, 2010 2:23am Mar 8, 2010 2:23am
I think you have view all sides of the risk imo. Quite often they hide the true risk to reward that you take on by having wide stops and targets that never get hit.

Sometimes they hide it in the actual trading statements and claim the risk torward as average winners to average losers.

Both of those are misleading on their own. But at the end of the day that is what a lot of these systems sellers are out to do..mislead.

The only issue I have with looking at average losses and profits is that the example data is often the best case scenario. I always want to know how much will I lose if the "system" winning stike rate drops 10%, 20%, 30%. It is very hard to tell in systems where stop placement is not fixed and trades are closed out before it being triggered.

Quite often you find that when you trade the system for real over long periods those stops placed at time of entry start to get hit and suddenly the R:R or whatever you want to call it, gets thrown completely off balance to what it needs to be to be profitable.
Trading is my life
  • #54
  • Mar 9, 2010 1:50am Mar 9, 2010 1:50am
I agree, you have to look at all the risk involved. The wide stops is exactly the case with HiRider.

I understand your issue with the avg. winners and losers. That's why I compare them relative to the actual RR. Basically, the ratio of Avg losers to winners should be greater than or equal to the RR of the system. If the system claims a RR of 1:2 but the avg loss/win ratio is 1:1 that is a big red flag to me. If the avg L/W ratio is 1:2.5 (with a good amount of history to back it up) then I can attribute that to good position management. Either cutting losses, letting profits run, or both. It's something I constantly monitor and if the avg L/W ever falls below the actual RR then I see a problem and investigate further.

I'll consider a system as long as it has a 50% win rate or better and a true RR of better than 1:1. If a system can truly achieve those numbers at a MINIMUM, a good MM system can amplify the profit potential tremendously. And, of course if the RR is much better than 1:1, say 1:3 or better, then I would take a lower win rate than 50%.
  • #55
  • Mar 10, 2010 2:18pm Mar 10, 2010 2:18pm
Quoting madmatz
I agree, you have to look at all the risk involved. The wide stops is exactly the case with HiRider.

I understand your issue with the avg. winners and losers. That's why I compare them relative to the actual RR. Basically, the ratio of Avg losers to winners should be greater than or equal to the RR of the system. If the system claims a RR of 1:2 but the avg loss/win ratio is 1:1 that is a big red flag to me. If the avg L/W ratio is 1:2.5 (with a good amount of history to back it up) then I can attribute that to good position management. Either...
been getting a shed load of emails about GBPBot this week so I am a sure LMD will be a thing of the past by April and thus the cycle starts again.
Trading is my life
  • #56
  • Mar 10, 2010 2:19pm Mar 10, 2010 2:19pm
good money maker for em
  • #57
  • Mar 11, 2010 1:17pm Mar 11, 2010 1:17pm
Quoting Hooya
been getting a shed load of emails about GBPBot this week so I am a sure LMD will be a thing of the past by April and thus the cycle starts again.
GBPBot, eh...

- 98.44% precision...
- "Read on to discover, how a newbie on the Forex Market stumbled upon the greatest finding on the Currency Exchange and something that big wigs were till this time keeping under wraps."
- "In Just 3 Months Turn $10,000 Into $21,625.08... 116% R.O.I Using 1/3 Of GBPBOT POWER!"
- "The current daily news tells us of the scary financial future ahead but ONLY in times of crisis does INCREDIBLE opportunity arise."
- "These additional Thousands in your account can certainly change your lifestyle and bring in pleasures of life that until now, were just a dream."
- etc, etc, etc...

Nice work! The GBPBot... preying on ignorant hopefuls with loaded terminology, and back tests galore. Maybe GBPBot needs a fireworks display in the background to make the experience of reading a hyped forex report even more exiting!

GBPBot really went crazy with the marketing to suckers 101.
  • #58
  • Mar 11, 2010 5:42pm Mar 11, 2010 5:42pm
Where there is demand, somebody will step in to fulfill it. These robot vendors are reaching out to the people who have the belief that there is some near miraculous way to make money with little effort or skill on their behalf. In many ways they remind me of the baldness cures you used to see advertised. Again they were trying to cater to people who had the belief that there must be some hope for them.

By the way, it seems that I don't see as many ads for baldness cures as I used to. I wonder, perhaps they are trying to sell Forex robots now.http://cdn.forexfactory.com/images/s...lling_eyes.gif
  • #59
  • Mar 15, 2010 6:23pm Mar 15, 2010 6:23pm
Quoting CodeMeister
Where there is demand, somebody will step in to fulfill it. These robot vendors are reaching out to the people who have the belief that there is some near miraculous way to make money with little effort or skill on their behalf. In many ways they remind me of the baldness cures you used to see advertised. Again they were trying to cater to people who had the belief that there must be some hope for them.

By the way, it seems that I don't see as many ads for baldness cures as I used to. I wonder, perhaps they are trying to sell Forex robots now.http://cdn.forexfactory.com/images/s...lling_eyes.gif...
I think you might be right!
  • #60
  • Mar 22, 2010 6:46pm Mar 22, 2010 6:46pm
Quoting madmatz
Anything that can go wrong will go wrong! I wonder if FRWC will pull through? After analyzing the systems for the past two weeks and trading a live account alongside a control demo, I have to say that the only EA that I'm still interested in is LMD.

HiRider Has horrible RR and only useful in a ranging market but, still not worth the risk even then. It's break even point is in the 90%! That's ridiculous.

SuperVolcano is a complete wildcard and too risky as well.

Strasha has horrible RR and just sucks in my opinion.

Neg-Corr...

agree,especially your remark around judging the contest.

have been playing around a little, and in the end only LMD remains, although ....

funny thing with hirider is that it indeed has an awfull RR 210/12 but backtesting over 2006-2009 period (the version within fusion strat 2) gave the impression that the RR could be improved.
have been testing it a little with merged version of mptm of steve hopwood to create better exit strategy and come to an avg profit of around $20 which is much better then $12

so with an RR of 200/20 instead of 210/12 it looks much better.

and now we have an hirider advanced which only filters a bunch of trades away (including a couple of losses at the end of 2009&2010)

nothing advanced, or i am 2 dumb to see it. It only reconfirms me that it are a bunch of marketeers!
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