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BURU expert trading system?

  • #1
  • First Post: Dec 6, 2010 5:30am Dec 6, 2010 5:30am
IBfx australia launches new EA called BURU. And affirms that it earn 10% of monthly.

Anyone knows this EA or its trading system.


link:
http://www.burutrader.com/ibfx/terms.php
  • #2
  • Dec 6, 2010 7:40am Dec 6, 2010 7:40am
Yeah im with ibfx and have just started to demo it .. It asks for 400:1 Leverage and you cant adjust any thing.. not sure if thats the demo version only.. dosnt have any technical info provided.

So far its made 70$ win 2 days with 50k
  • #3
  • Dec 6, 2010 1:28pm Dec 6, 2010 1:28pm
http://www.forexfactory.com/showthread.php?t=109589

It's the same EA you can have for free. Trades just the same.
Wouldn't use it tough.
  • #4
  • Dec 6, 2010 2:00pm Dec 6, 2010 2:00pm
Quoting TJPLD
http://www.forexfactory.com/showthread.php?t=109589

It's the same EA you can have for free. Trades just the same.
Wouldn't use it tough.

No I dont think so. Its logic different ...
  • #5
  • Edited 6:58pm Dec 6, 2010 6:20pm | Edited 6:58pm
Demo trading BURU since Nov 17th. Made $4,041.07 in a 50K account until now. Looks interesting. The FAQ states it can get a margin call. They promised (by email) to send a DLL version to backtest from 1999, but sent nothing yet. For me, size/frequency of losses is crucial. I wrote an EA that used to draw a balance line very similar to this. In the long run it always blows the account. But BURU looks smarter than my EA (maybe smarter than me, lol).
Attached Image (click to enlarge)
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  • #6
  • Dec 7, 2010 8:00am Dec 7, 2010 8:00am
Quoting Jairo
Demo trading BURU since Nov 17th. Made $4,041.07 in a 50K account until now. Looks interesting. The FAQ states it can get a margin call. They promised (by email) to send a DLL version to backtest from 1999, but sent nothing yet. For me, size/frequency of losses is crucial. I wrote an EA that used to draw a balance line very similar to this. In the long run it always blows the account. But BURU looks smarter than my EA (maybe smarter than me, lol).

maybe smarter maybe do trade right with parameters !
  • #7
  • Dec 8, 2010 3:23pm Dec 8, 2010 3:23pm
Quoting hipofiz
IBfx australia launches new EA called BURU. And affirms that it earn 10% of monthly.

Anyone knows this EA or its trading system.


link:
http://www.burutrader.com/ibfx/terms.php
Hi guys,

Glad you've discovered Buru. IBFX Australia is excited for you to experience the potential of this powerful EA offered by Buru Partners. We're currently seeing a + 118.01% total return (from the past 182 days), and it's now available for live trading! These stats are available on MT4i.com which syndicates trade performance data from MT4.

Just to clarify from previous threads, Buru (live and demo) does require 400:1 and hedging, available only through IBFX Australia Pty Ltd.

Cheers,

Abigail~
  • #8
  • Edited 5:39pm Dec 13, 2010 7:34am | Edited 5:39pm
What a piece of crap. As I expected just increase the risk untill you are in profit.
Yeah that is a decent trading system that will work on long term. Can't belive IBFX is selling such a piece of dogshit.

IBFXs image is completely fucked if you ask me. What where they THINKING?!
It seems like they don't have a clue about Expert Advisors themselfs. "Ohh hey let's sell this EA which doubles
up after a loss. If all our clients blow their accounts sooner or later that won't come back at us in a nasty way. Not at all!"
Attached File(s)
File Type: zip DetailedStatement.zip   20 KB | 849 downloads
  • #9
  • Dec 14, 2010 5:23am Dec 14, 2010 5:23am
hmmm .. interesting. I've been comparing the results with there live stats site, but its been saying there currently hidden ???
  • #10
  • Dec 14, 2010 5:29am Dec 14, 2010 5:29am
Quoting moultan
hmmm .. interesting. I've been comparing the results with there live stats site, but its been saying there currently hidden ???
Yup probably because they are a bunch of crooks.
If EU had retraced back down yesterday your account would be gone.

The creator of this EA isn't stupid he is probably well aware that this kind of trading is like giving a baby a loaded gun. But he doesn't care aslong he can find some suckers who will fall for unrealistic promises. At some point it will go wrong and IBFX supports it. You got to be kidding me.
  • #11
  • Dec 15, 2010 9:53am Dec 15, 2010 9:53am
All,

The latest version of Buru can be set by the user to allow each individual to better manage their own risk tolerance. By doing this, results will speak for themselves. Buru has been profitable for the past 7 months-- see stats here.
  • #12
  • Dec 15, 2010 9:55pm Dec 15, 2010 9:55pm
Abigail ... can you please tell me me who your representing?

thanks


oh IBFX I see now..
  • #13
  • Dec 16, 2010 8:11am Dec 16, 2010 8:11am
Quoting Abigail
All,

The latest version of Buru can be set by the user to allow each individual to better manage their own risk tolerance. By doing this, results will speak for themselves. Buru has been profitable for the past 7 months-- see stats here.
There is no risk tolerance in martingale. Some day it will blow your account. You're basically risking it all every day for tiny profits.
No negative progression (meaning increasing position size if things go bad) betting system will work longterm. It's mathematically impossible, because the probability of a long losing streak will reach 1 given a long enough time. And it that case your account is gone. Which means that the probability that your account will be gone sooner or later is also 1.
  • #14
  • Dec 17, 2010 6:42am Dec 17, 2010 6:42am
Every martingale is the same. Buru is no exception. Please see attached Buru test from 1999, with risk factor set to 0.4. After a ridiculous 50% return in 4 years, it takes a near 60% loss. With full risk it blows the account much faster.

IBFX Australia, you are throwing your (potential) credibility in the mud partnering with this software.

I don't think it is acceptable to warn that the EA can take a margin call (as stated in Buru FAQ) and then sell it for $500. Even giving it away for free would be irresponsible.
Attached Image (click to enlarge)
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  • #15
  • Edited 9:21am Dec 17, 2010 7:56am | Edited 9:21am
Quoting Jairo
Every martingale is the same. Buru is no exception. Please see attached Buru test from 1999, with risk factor set to 0.4. After a ridiculous 50% return in 4 years, it takes a near 60% loss. With full risk it blows the account much faster.

IBFX Australia, you are throwing your (potential) credibility in the mud partnering with this software.

I don't think it is acceptable to warn that the EA can take a margin call (as stated in Buru FAQ) and then sell it for $500. Even giving it away for free would be irresponsible.
Funny how they stopped publishing their results after a 70% DD.
Last trade was:
215245022010/12/14 12:05:03Sell 0.01EURUSD1.345521.356022010/12/14 13:19:061.34362 0.00 0.00 1.90 19.0

That is deception. Which would get your ass in jail where I live, especially if you want to rip off 500 USD with this information.
I hope some of the buyers sue IBFX for this. Some scammers only learn the hard way. This will cost IBFX much more than what they earned with their measly attempt to sell Martingale EAs.
  • #16
  • Dec 18, 2010 4:50pm Dec 18, 2010 4:50pm
Thanks for the information provided here. I was about to open an Account with IBFX but now changed my mind. It seems that they are not honest.
  • #17
  • Dec 18, 2010 5:01pm Dec 18, 2010 5:01pm
Quoting Linus78
Thanks for the information provided here. I was about to open an Account with IBFX but now changed my mind. It seems that they are not honest.
I had an account with IBFX US for 3 years. Not any major issue. But this Buru EA I (back)tested and don't recommend that anybody buy it.
  • #18
  • Dec 18, 2010 5:38pm Dec 18, 2010 5:38pm
Quoting Jairo
I had an account with IBFX US for 3 years. Not any major issue. But this Buru EA I (back)tested and don't recommend that anybody buy it.
It's a credibilty issue. When Brokers start selling EAs and ones that don't work longterm and are very risky it's usually not a good sign.
  • #19
  • Edited Dec 19, 2010 8:14am Dec 18, 2010 6:33pm | Edited Dec 19, 2010 8:14am
Yup, this is definitely just an account churner that will make IBFX a big chunk of change in spread costs alone, not to mention, when each account is blown they get that too. No amount of money management can turn negative expectancy into positive expectancy.

IBFX really stepped in crap on this one and I hope no one falls for it.

This really bothers me, because I am very fond of IBFX in the USA. They have been a great FX broker and I cannot say enough about my opinion of their great reputation. But this steaming pile of programming really has me concerned about them.
  • #20
  • Dec 18, 2010 7:02pm Dec 18, 2010 7:02pm
I suppose that any company who celebrates that it is the 31st best company in Utah should be avoided
The greatest enemy of a good plan is the dream of a perfect plan.
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