Forex Growth Bot FIFO Alert! | Check With Your Broker

Just a reminder to those using FGB on US Brokers

Some brokers enforce the FIFO rule at the client side and others handle it
in their back office. I am using FGB with FXCM and MB Trading.


I forgot to enable FIFO=True on FXCM and noticed in the journal tab that the robot tried to close a last position first. So I believe the robot was trying to close this position and could not because of this. I also believe the robot may have lost control of the basket because of this? in the chart it said "Pos state Updating"

With MB Trading it does not matter because they handle this in their back office, so you can leave FIFO=False. Anyway I just wanted to throw this out to you all to check how your broker handles this FIFO rule BEFORE you start trading FGB.

I hope I have saved someone some headaches : )

Wallstreet Forex Robot New GBP Settings | Member's Area Screenshot

Hi Guys, Just recently one of my favorite scalping Forex robots just released some new settings for the GBP/USD pair. See the screen shot below of the members area.

The TP and SL for this has been changed form the defaults. The TP is now 40 pips and the SL is 52 pips.
There is also a "turbo" version that is similar to this setting with more trades, higher profit but higher draw down as well.

I should also point out that the default setting now sports a 95 pip SL along with a 50 pip TP.

I ran some quick back tests of these new settings and I was NOT impressed. The back tests were barely profitable.

I then proceeded to run a back test for the new default setting and I quickly noticed that the default was still the best choice for long term profit. Unfortunately I was not able to post these back tests on here because of technical issues with my server.

I would definitely run the GBP/USD pair with the default setting, it is the best setting indeed.

WALLSTREET FOREX NEW GBP/USD SETTINGS CLICK HERE

Forex Invest Bot | The Forex Growth Bot Team

The Forex Growth Bot Team is about to release another robot based on volatility, which is similar to their previous release. I am really excited about this release for sure. I trade the Forex Growth Bot right now on 2 live accounts.

This robot is supposedly much better than the FGB. We can view its performance as the vendor has started a small live account.

We can see by viewing this account that it certainly does trade similar to FGB. I think with this one the vendor is aiming for similar performance with a reduce in draw down.

I believe this robot will be even more popular than the FGB. Most of the gripes with FGB were the long draw down periods. If this robot can reduce this, it will become insanely popular by Forex fans worldwide.

Update: 1-25-2013 while it is still un clear when this robot will launch, I have received this email form the team:

"My last release, Forex Growth Bot, was a huge success, thanks to your support and the trust our customers had in my software and my support.

It’s literally been years since I released a system; Forex Growth Bot has and still does amazing, but I feel it’s now time to take my system to the next level.

I have spent the past year analyzing my system and exhaustively testing it. I have taken out the main core of Forex Growth Bot and built a whole new system around it, that’s even better. And I’m proud to release it."

CLICK HERE TO LEARN MORE ABOUT FOREX INVEST BOT

Wallstreet Forex EA | Demo Account Alternative Pairs

Hi Guys, I just set up a demo account for the Wallstreet Forex EA. When I set it up I was trying to pick some pairs that had a better chance at banking some higher pips. So I picked the GBP/USD with the AUD/USD for starters. I also added the GBP/JPY and used the settings from the GBP/USD. Next I added the AUD/JPY and used the settings from the AUD/USD.

Before I attached them to the charts I did some quick backtesting and they looked surprisingly pretty good. Also before attaching WS I turned on the Friday filter to exit all trades before market close. This should help avoid any weekend market gaps.

Next I set this demo account to publish the results on MyFxbook. Below we can all follow its performance.

The default SL and TP are used for all pairs. I increased the Max Spread to 6.

Jason Bond Picks | Trading Subscriptions Stocks Bonds Futures

Jason Bond picks trading stocks bonds and futures. Hi guys, I stumbled on this website that has some lofty claims on the website. There are many testimonials including video.

He is apparently offering day trade and swing trade signals. Let 's look at some of the claims.

*Perfect for greedy, trigger happy traders who need profitable intraday ideas
*15-20 momentum day trades per day
*Chat based only
*Goal to be in all cash by end of trading day - everyday!
*The perfect complement for Jason's swing trade alerts
*Run by head trader Luke Murray
*Goal is $500 profit per day which keeps the job away
*Includes option puts and calls
*Perfect for greedy, trigger happy traders who need profitable intraday ideas
*15-20 momentum day trades per day
*Chat based only
*Goal to be in all cash by end of trading day - everyday!
*The perfect complement for Jason's swing trade alerts
*Run by head trader Luke Murray
*Goal is $500 profit per day which keeps the job away
*Includes option puts and calls

There is no information of past performance just some video reviews for some apparent users of the signals. I am wondering if anybody has any experience with this guy. I would be happy to hear from anybody who has used this one?

JASON BOND PICKS SUBSCRIBE WEBSITE CLICK HERE

Xcalper Metatrader 4 | X Marks The Spot?

Hi guys, here is a new scalping EA that trades the EURUSD, USDCHF, EURGBP, USDJPY and targets less than 5 pips or profit. So I guess you can label this EA as an "extreme scalper"

Xcalper uses ADX indicator for finding a strong trend, ATR indicator for finding solid movements and checks different timeframes to enter a trade that can be closed in a reasonable time and profit

There is a small live account with 1000AU to follow below. Click widget for analysis:

.

Apparently you can install this on any timeframe. You would need to run this with a broker that has high execution quality because of the small profit targets. Also you would need to use a broker with low spreads for high trade performance. Otherwise this EA will not perform to its fullest potential. 

One License goes for $249 and 2 licenses goes for $449. 

It should be noted that the above account is high risk and thus the high profits at time of writing. I am not really a fan of scalpers like this, but I do hope its performance continues.

There are no backtests to be found anywhere on the site.

VISIT THE XCALPER EA WEBSITE CLICK HERE

Forex Growth Bot | MyFxbook Chart Analysis

Hi guys, I wanted to show you the vendor graph from which I have marked up with an interesting equity line which shows nicely just why this system is the best one available today. Check this out below:

Now is that beautiful or what? This is up to date with the last trades taken on Jan 11,2013 at which time the bot gave us about 700 pips. The red line I drew on the top of the relative equity curve shows a nice steady gain to the north. The equity curve or what actually was traded, displays the equity in relation to drawdown (DD) which is the red line below the one I drew. This illustrates how to trade this robot and that we should not worry too much about the losses we incur. If our risk is set at a level we are comfortable with things will work out for the best.

Even at the worst DD around July and August of last year we see the market quickly gave back those losses and recovered to the red line I drew on the top.

Remember this is a real money account started by the vendor back in Dec. 2010. Yes the DD can be a little tough to handle at times but if we stick to our money management plan and think long term with this robot, we will be just fine

Speaking of money management I have a good outline of lot sizes to use with this robot below:

1. Low Risk - .01 Lots per 1000USD Traded
2. Medium Risk - .01 Lots per 500USD Traded
3. High Risk - .01 Lots per 250USD Traded

Use the chart above in regards to your risk appetite.

LEARN MORE ABOUT THE FOREX GROWTH BOT