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Re: ROBOMINER

 

Great news! The RoboMiner Pro is set to be released tomorrow, Oct 5th, 2009!

 

It is just like the RoboMiner, except it allows the user to determine the start point of the grid, the TradeRange in pips (you can set it to trade 35 pips instead of 40, for example) and also vary the center point for crossover between buy and sell.

 

It can be traded on any currency pair, and not just the AUDNZD or EURCHF. It has all of these advantages while maintaining the simplicity of the RoboMiner and avoiding the complexity of the GT-Shadow.

Knowledge is power.
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Re: ROBOMINER

 

Can non-Muslim person apply for swap free a/c too? I thought it is only muslims. :-/

 

Yes non-muslim can apply for swap free a/c, but do not be misled, there is no free lunch out there.

 

Swap free acc. simply means that instead of generating swap amount under "swap", at the end of everyday, your positions will be automatically reset by the broker every night when swap is generated. such that your outstanding profit or loss has included the overnight swap inside.

 

Therefore, swap free a/c and normal account would come to the same result.

 

I find that prospector is a much better ea than robominer, Yes i know that robominer does 100% winning trades, but if you compare the two systems at a deeper level, you'll realise that even though prospector does not do 100% winning trades, it is far better. Let me explain.

 

I am using Alpari UK

 

1. Robominer is is prone to huge draw downs while prospector is able to cut loss. Lets say you had open sell positions since janurary in the 1.19 region for aud/nzd, by now, the negative swap created would have been larger than the target 40 pips. Even if u close the trade to be a profit trade, Your net profit is a loss due to swap. Prospector does not have that problem as it is able to cut loss.

 

If you are using FXDD or another and do not have negative swaps for the sell range of aud/nzd, if aud/nzd is in the lower half of the range, the swaps will get you.

 

2. When the aud/nzd pair is at the extreme ends of the range, That is when there is high probability that the aud/nzd will change direction and go toward the centre of 1.17. When Robominer is at the extreme ends of the range, it would be under heavy drawdown and continue doing .01 lot sizes. Prospector on the other hand, is able to sieze this high probability opportunity by increasing its lot size automatically when the pair is at the extreme ends of the range.

 

Backtests done by the ea designers have also shown prospector to be far more profitable than robominer 170% in the past year as reported by the creator of robominer and prospector on his backtest.

 

Both trading systems employ the exact same trading assumptions, if aud/nzd breaks the range the account busts. However because of trading techniques (prospector being able to cut loss), prospector is far more profitable than the robominer.

 

Which is more important? to have 100% winning trades(even though some winning trades may give u a negative return) or to make the most money?

 

To me, the latter is more important. I have been trying to educate prospector 1.04 but i have been stuck for some time. Hope someone can help me and we can all make the most profits possible together. :-bd

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Re: ROBOMINER

 

Hi guys please what is the special thing in a drawdawn city...............I hate this type of EA what of if market trend to one direction what will happen to account......well not more than account blows X_X then you hear OMG...........

I will never use any EA with a defined stop loss.

Thanks for sharing.

Forex is a game played by smart people not for a dull sliping guys..

Be Wised......... 8-) :D

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Re: ROBOMINER

 

Thats is the reason I have not used this EA live yet, But on the positive side I have not heard this EA blown someone's account yet

 

As long as you follow the default values for robo and prospector your account will never blow, UNLESS that pair breaches its trading range, then everyone who trades that pair blows together :((

 

Yes, wesladf, i do not like ea without stop loss, however the trading assumptions that robo/prospector is based on is worth the risk for the returns.

 

That is why i am working on educating Prospector 1.04 but i am having difficulty. Is there anyone else interested in getting an education for Prospector 1.04? PM me and we can try to work on it..

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Re: ROBOMINER

 

You are right. Most people don't like Grid trading based EA due to their huge drawdown which requires huge deposit to manage to pass trough those times.

 

But what is special about RoboMiner is the fact that if you test lots of grid trading EA, you realize that most of those EA requires deposit of between 60 000$ to 100 000$ on a mini account (with 0.1 lot min.) to be relatively safe on the long term. But not Robominer. Just 10 000$ will do (if you trade one pair, 20 000$ if you trade 2 pairs). Which is a huge accomplishment for a grid trading EA. And, of course, they require even less on a micro account.

 

I personally tested lots of grid trading EA and, up to date, i found only 2 EA that requires as little as 10 000$ to work relatively safely and one is RoboMiner and the other is Naminori Bill Final v9 (this one is just limited grid trading but even then...). I trade both live since some months now and i like them. Another that works well too and that i also use is PipMaker even if the required margin may be just a little more depending on the pair you use with it.

 

Anyway, just wanted to tell you why some people like it. But one thing is for sure: If someone doesn't have enough money to pass through the drawdown, i would not recommend it.

 

With a grid trading EA, people should always do at least backtest with ALL past years data to find and know what is the most margin requirement expected and NEVER assume that the recommended deposit by the vendor is enough. Some vendors says the truth but most don't and you will blow up your account.

Knowledge is power.
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Re: ROBOMINER

 

Glad to see my last post provoked some reactions... and also some curiosity for Naminori Bill. :)

 

I can even say one thing further about grid trading EA: To say the truth, all the first times i tested any kind of grid trading EA, i never liked them. Just like any martingale EA for that matter. When you backtest them and see those huge drawdown and all those blown up accounts, its enough to panic!! On top of that, most of them are just crap.

 

It's so much more easy to like simple scalpers !!!

 

But the truth is that i never managed to make real money with that, until:

 

1- I removed nearly all the scalpers EA on my account. (Very few worth the time letting them run...)(And before anybody ask: FapTubo is completely removed from my account but MegaDroid Pro is still alive but WITHOUT EURGBP, I removed EURGBP from DragonPips also)

2- I put some trusty grid trading like Robominer (Even if some are just some kind of limited grid trading)

3- And i finally accepted to have some drawdown. (Never easy to accept on your account the first time you do it... It always seems scary.)

4- Find some limited and controlled martingale EA (Naminori Bill is one of those)

5- Finally admitted to myself that it is NOT true that all martingale is a bad thing. If it is controlled, limited and used wisely, it can be a wonderful tool.

6- Finally understood that scalping the EURGBP with ANY EA (well... almost) is definitely a thing of the past and to continue to do it is being masochist.

 

On a funny note, the only scalper i use on a live account that is still able to make a little profit with the EURGBP is Volatility Scalp Eurocross version and it is a FREE EA. I find that funny because all the commercial EA scalp the EURGBP but it's always their most losing pair since at least the last 3-4 months. The market simply have changed but not the vendors... Too much easy to use old backtest based on old EURGBP data for them to stop...

 

Anyway my point is: Diversification.

 

A little grid trading like Robominer and a little smart martingale like Naminori Bill is a good addition to an account and does good to compensate when your scalpers (or anything else..) enter in a bad day or even a bad week of trading. That can be profitable in the long run.

 

Hope that helps someone in any way.

Knowledge is power.
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Re: ROBOMINER

 

hey folks, I am thinking of going live on a 1.3k account.

Gathering feedbacks whether you would do in on EURCHF or AUDNZD first?

 

AUDNZD first.

 

....and here's the educated robominer 2.18 and pro

 

http://www.4shared.com/file/138186856/3abe3aa7/rbm.html

 

password is the typical one we always use here on the forum

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Re: ROBOMINER

 

I also agree. Trade AUD/NZD with Robominer with less than 2k on a micro account can be dangerous if the market start to make a huge move in the following months. It all depends on the risk you are willing to take. I don't say it can't be traded. Past statistics says that the odd of busting a 1.3k account with RoboMiner are rather remote. But they still exist.

 

As an example: For the past couples of months, if someone would have invested just 1k, he would have been ok with an average drawdown of only 100$ and often less.

 

I, personally, don't expect the market to make a huge move in the near future, but no one can guarantee that. It's your choice to make if you can live with that risk for a while until you reach the 2k mark or wait to have that money before starting using RoboMiner.

Knowledge is power.
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