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BURU expert trading system?

  • #21
  • Dec 18, 2010 7:35pm Dec 18, 2010 7:35pm
Quoting steve10%
I suppose that any company who celebrates that it is the 31st best company in Utah should be avoided
LOL, I wonder where Utah is? I live about a 1/2 mile from IBFX.

Anyway, isn't IBFX the same guys who pushed that system that went bust called Forex Freedom or Freedom FX or something like that? It was all the rage back in 2006. So one would have thought they would have gotten a clue from that. It was the one based on making money from an elaborate carry trade system with a grid thrown in as well, another churner.
  • #22
  • Dec 19, 2010 4:26am Dec 19, 2010 4:26am
If Brokers start offering Martingale EAs. RUN FOR THE HILLS!
  • #23
  • Dec 19, 2010 6:10am Dec 19, 2010 6:10am
what do you think of FXCM system selector platform?
  • #24
  • Dec 19, 2010 8:09am Dec 19, 2010 8:09am
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.
Am I understanding this correctly? Did your statement show that your test results had a draw down of 93.2% of the account balance at it's worst?
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  • #25
  • Dec 19, 2010 8:35am Dec 19, 2010 8:35am
Quoting smjones
Am I understanding this correctly? Did your statement show that your test results had a draw down of 93.2% of the account balance at it's worst?
Interesting didn't see that. They stopped publishing live results after Dec. 14 when it hit another 70% DD if you look at my Demo Test.
  • #26
  • Dec 20, 2010 4:23pm Dec 20, 2010 4:23pm
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.
All,

It's important to understand the background of Buru. Buru Trader is a separate, unaffiliated company from IBFX Australia. Buru Trader selected IBFX AU as its preferred broker after testing with other brokers. IBFX AU receives no remuneration when Buru Trader sells its product.

Buru Trader trades the EURGBP, AUDCAD and EURUSD between 2:00 – 7:00 GMT. It also trades the EURUSD at 11:00 GMT. While Buru has had positive results for the last 6 months, it is subject to the fluctuations on the Forex market.

It is obviously possible to lose some if not all of your money trading this EA or any other EA. keep in mind is that forex trading is for your risk capital. In no way do we recommend that you trade anything you cannot afford to lose. Buru has also made it possible to adjust your individual settings to control your risk tolerance.
  • #27
  • Dec 21, 2010 8:23am Dec 21, 2010 8:23am
Quoting Abigail
All,

It is obviously possible to lose some if not all of your money trading this EA or any other EA. keep in mind is that forex trading is for your risk capital. In no way do we recommend that you trade anything you cannot afford to lose. Buru has also made it possible to adjust your individual settings to control your risk tolerance.

yep, any EA can fail. Much of it can be blamed on the skills of the programmer. But it can also fall on the shoulders of the broker due to platform freezes, trade context busy errors, requotes, off-price error, Mt4 error of the month.

I guess for IBFX to start offering EA's for sale now gives me somewhat of a conclusion their base is faltering. Obviously shows you this particular EA could never succeed in a 50:1 Leverage climate.

At $500 a pop, selling EA's is probably just as lucrative as taking the other side of the trade.
  • #28
  • Dec 22, 2010 11:54am Dec 22, 2010 11:54am
Quoting smjones
Am I understanding this correctly? Did your statement show that your test results had a draw down of 93.2% of the account balance at it's worst?
That’s the difference between the highest balance and lowest balance, because the balance was once 80k but 75k was withdrawn, the "loss from outset" is a large number, this can be misleading. If you look at the account statement you can see 90% was never lost (nowhere near) but that amount was withdrawn. For a cleaner MT4i example of a live account with no withdrawals or additional deposits please click the following link: http://www.mt4i.com/users/burutraderibfx/stats

The reason this account is not posted under “live stats” is due to the fact that it has 79 days of live trading history compared to 197 days of live trading history. Please feel free to access this link any time to check its current results.
  • #29
  • Dec 22, 2010 2:03pm Dec 22, 2010 2:03pm
Quoting Buru support
That’s the difference between the highest balance and lowest balance, because the balance was once 80k but 75k was withdrawn, the "loss from outset" is a large number, this can be misleading. If you look at the account statement you can see 90% was never lost (nowhere near) but that amount was withdrawn. For a cleaner MT4i example of a live account with no withdrawals or additional deposits please click the following link: http://www.mt4i.com/users/burutraderibfx/stats...
Hey Buru Support I have a question for you. Why does the EA suck so much?
See this post: http://www.forexfactory.com/showpost...98&postcount=8

And why doesn't that show up on the official performance stats? Why do they cut off on Dec. 14th all of a sudden?

Sure any EA can lose but it's the way how they lose that makes the difference. Normal Trading 1% risk and negative expectancy -> Account Bleeding out slowly enough time to change your strategy.
Martingale -> Quick and Brutal. Account simply vanishes in a matter of seconds.

I recommend anyone with more than 3 braincells to not buy this crap.
  • #30
  • Jan 8, 2011 9:26am Jan 8, 2011 9:26am
Just saw their ad here on FF
and found now these thread, just wanna push it up so more newbies can see it, and dont get caught by their ads.
consistency wins
  • #31
  • Edited 11:11am Jan 14, 2011 9:07am | Edited 11:11am
Hello
Excuse my bad English

joint a recent rally with Buru if you notice that pyramid, it hedge also, is what I believe he can restore the balance;

What do you think. ?

thank you
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  • #32
  • Feb 4, 2011 1:56pm Feb 4, 2011 1:56pm
i got refund from this EA.
They ask to open an account to IBFX Australia and set up a leverage of 400:1 ...
That's irresponsible.

Quote
Set up live trading account with IBFX Australia with 400:1 leverage
  • #33
  • Mar 24, 2011 6:20pm Mar 24, 2011 6:20pm
I just joined 2 weeks ago with IBFX and run Buru using VPS .
I deposited $2000 for start. and it keeps making around $20-$40 a day.. which is quiet good. Thank you.

HOWEVER , for the last 2 days, it has open position in Sell AUDCAD , and i have -$700 in my open position right now.

is that normal ? something that I need to expect ?
-$700 from $2000 capital.. is like.. almost half gone. are you for real BURU ?

I can see AUDCAD chart is already bullish, and has break resistance line .
but why do you programmed the EA to SELL ?
  • #34
  • Mar 25, 2011 10:01am Mar 25, 2011 10:01am
BURU IS TOTALLY SCAM!!!!!!


Guys Please take a look at my screen shot ..
my capital is $2300 ish
and now ,eventhough AUDCAD is strong bullish, the "smart" BURU robot keep selling in multiple positions.
and now i have MINUSSSSSS -$1500 ish !!!

What the h#ll ????
are you for real BURU ?

http://i.imgur.com/zfU26.png
  • #35
  • Mar 25, 2011 6:00pm Mar 25, 2011 6:00pm
its a martingale based system......only a matter of time before the inevitable happens......

Do people really think a system based on martingale is going to work in the long run......anyone who does needs to go get their head checked
  • #36
  • Mar 30, 2011 6:28pm Mar 30, 2011 6:28pm
I too know of a friend that lost 90% of his account. He probably would of lost more but he closed out all his positions that BURU still had active.

Stay away from the BURU EA....it's met its day!!
  • #37
  • Apr 4, 2011 6:18am Apr 4, 2011 6:18am
Guys guys, you remember me to the days I started with Buru
I was "panicing" because it made nice returns and start losing a couple of days. A clear sign of human over reaction. Machines do what they do best, trading without being tired or emotionally influenced.

Just be patient, it goes up-down-up

Did you know that you can change the risk factor if you're risk aversive http://www.burutrader.com/ibfx/faqs/#q5
I changed it for a client who calls me everyday

Check out their stats: http://www.mt4i.com/users/burutrader/stats They still make 7%/m
I've a bit more return tough It depends on the size of the invested capital I think. I've different accounts each for a client.

As long as I do with almost no work a return, I'm happy, even if it is 0.1% daily.

Good pips to all and calm trading
  • #38
  • Apr 4, 2011 6:25am Apr 4, 2011 6:25am
Quoting TJPLD
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!"
Hey TJPLD, thank you for the detailed statement! Interesting, a maximal drawdown of 3 778.76 (64.86%)is huuuge! Although you still have a total net profit of 435.49.

What do you have now? Did get back to normal returns? Because it works well for me so far. Where do you think Buru is going? Because I use Buru with IBFX Australia as well for my clients.

Thanks for your answer!
  • #39
  • Apr 4, 2011 7:07am Apr 4, 2011 7:07am
lol why should I test this piece of crap any longer?. It's martingale end of story. If some IBFX marketing gurus try to tell you that it's safe don't buy that. It's mathematically impossible to be profitable on the long run with martingale, because the probability that a long losing streak occurs reaches 100% with time. It's the same with a big asteroid hitting the earth. It's not a question if it's going to happen but when.

Congrats guy you just got scammed by a broker big time.
If I were you I would sue the living crap out of them.
You might have a good chance especially if you group up with
others who have been scammed.
  • #40
  • Apr 7, 2011 4:48am Apr 7, 2011 4:48am
Guys, I am new to Buru. I have been demo testing it for about two months now. It seems to be doing ok. My only concern though is that it uses no stop loss for three of its currencies on the one min time frame --eurusd, eurgbp, audcad ---

I also met the ceo of IBFX -- Todd --at a seminar. He told me that he made some good returns using Buru -- since last nov when he invested in it. He is very experienced trader and has a high reputation in the trading community.

I think one should invest only risk capital in Buru. Then when one's capital has been returned to take out the profits -- so there is no risk.

Anybody who is using Buru with success, please give your opinion -- and also the ones who lost money using Buru -- please give your thoughts also.
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