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[REQ] Ir0nB0t


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Looks like they changed the strategy on 10-14 (forward test) when they started to place orders with Stop condition and do not use a SL any longer. Also they claim "backtest not possible, only forward test" which is a poor excuse for not providing a 10 year backtest. Still worth backtesting when released but don't hold your breath on this one.. it probably crashes during the backtest which makes it worthless on forward test, meaning it will crash on forward test at some point in the future.

 

Cheers

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I think its a renko system. Hence it can't backtest.

 

Even with Renko and Kagi (offline created bar charts) it can be backtested. A bit more complicated to trick MT4 to test it but it can be done. You have to fool MT4 into thinking it is backtesting a M5 chart instead of M2 or whatever custom offline chart. Remains to be seen what this EA can do, but I have my money on a bet that it is complete thrash.

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quite likely it is trash. just reading that terrible site (took me ages to figure out how to see any info on the site - u click on the colours around the robot ---wtf?) made me think that it is a renko system.

 

we know it can be backtested, but that's not to say he has no idea that it can be done. i emailed asking about if it was renko or not - i will see if i get a reply.

"It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book."

Victor Niederhoffer (1943–), US hedge fund manager and statistician

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Thank you for your interest in Forex IronBot. The trading logic is

split in a server/client architecture, that means that the client

doesn't have all the software necesary for running a backtesting.

Maybe that is a disavantage for the end user but it introduces a

flexible environment for implementing adjustments to the logic on the

server side if it is required.

On the server side, we create offline charts but those are not

available for the client side.

 

Regards,

 

Forex IronBot Team.

"It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book."

Victor Niederhoffer (1943–), US hedge fund manager and statistician

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You might as well piss away $169 if you buy this EA. As stated no backtest (why? their metatrader crashed during development??) No local code logic - signals sent from remote server (asking for serious trouble) Some guy wakes on the wrong side of the bed over there and sends a series of nasty signals to the clients.. adios account. No SL posted.. if MT4 crashes or news event moving the market.. ouch.
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I think that Norman's post makes it clear that the EA is at the vendor's site and what he is selling is access to the signals. FXKnight points out that you are 100% at the risk of the vendor maintaining his site which has a proven history of being unreliable.

 

Why would anyone keep asking for a copy of this???

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gladiator, you can't crack this software. why? because the software that determines the signals resides on a remote computer. when you buy the EA, all you get is a slave EA which executes buy and sells depending on what the remote server tells it to do. the logic resides in the remote server. the EA you get just waits until the remote computer tells it to do something. unless you can get access to the code sitting in the remote computer you can't crack anything. you can crack the slave EA but it won't tell you much. now it's possible that the developer is not telling the truth about the master-slave set up and that the EA is actually autonomous. i doubt it. but the only way to find out is to decompile the slave EA.
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  • 4 weeks later...
gladiator, you can't crack this software. why? because the software that determines the signals resides on a remote computer. when you buy the EA, all you get is a slave EA which executes buy and sells depending on what the remote server tells it to do. the logic resides in the remote server. the EA you get just waits until the remote computer tells it to do something. unless you can get access to the code sitting in the remote computer you can't crack anything. you can crack the slave EA but it won't tell you much. now it's possible that the developer is not telling the truth about the master-slave set up and that the EA is actually autonomous. i doubt it. but the only way to find out is to decompile the slave EA.

 

Understood, Thanks !

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I have robot, very broker specific, needs tight and consistant spreads

 

Not profitable on GoMarkets at all. In thye process of setting up account at Alpari UK but would be interested to see other brokers with EUR spreads that always remain below 2.0 pips even during news events with max 1 pip slippage as this is what this robot needs etc

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I have robot, very broker specific, needs tight and consistant spreads

 

Not profitable on GoMarkets at all. In thye process of setting up account at Alpari UK but would be interested to see other brokers with EUR spreads that always remain below 2.0 pips even during news events with max 1 pip slippage as this is what this robot needs etc

 

Google 'Forex spreads'. there is a site that lists brokers and their spreads.

 

Don't expect to get a broker with 2 pips during news. I don't think that they exist.

 

IamFX (I believe) has the lowest spreads but I think that they also have commission so the whole thing is moot.

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  • 3 weeks later...

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