Forum

KenL 2008.10.04 16:35 

Buy your robot from http://forexautocashrobot.com/. Its only 97.00. thats not much money.

ps. I was notified that they are taking down the offer today. They've been overloaded with orders and they want to get everyone up and running. They will be offering it again in the future.

Chicago's right, pay for what you get. Its better karma. Or else just flake off, this isnt the Pirate site.

Bye the way, thats Pirates Cove, http://www.investor-message-board.com/

mailingstance 2008.10.04 19:19 

ok am sorry everyone I will buy it. I also believe I will utilize it well when I spend money it, but I thought some one might be willing to share.

KenL 2008.10.04 20:54 

You dont need GMT to run the program, its just used for backtesting. I believe he explains this. If your going to list the money you made, the dollar amount is only significant in respect to the number of pips you caught, and the position size and risk settings you are using, by itself its empty knowledge. Also if you could, the time frame surrounding the trade, how long were you in it, and at what time did it open, and the max drawdown. These figures help me to determine what this program is accually doing. I dont know how to get at the source code, I would'nt know what to do with it if I could, but I'm interested in exploring what this program is capable of, and comparing it to the other programs available, both the pay for programs, ForexTracer, and AutoPilot, and some of the stuff others are working on right here.

ttradr 2008.10.05 12:51 

If it bought 1 position, then I immediately changed settings or restarted it could it then buy another position? I WAS playing with the settings at first

KenL 2008.10.05 20:39 

Interesting questions. I dont know all the answers.

If you recieved the e-mail from John Buroughs friday afternoon with the "important updates" he claims that:

Essentially, you need to start MetaTrader on Sunday evenings
and leave it running the robot right through until the markets
close on Fridays. During these `market hours`, your computer
needs to be connected to the internet continuously. Occasional
loss of internet connectivity is okay - the robot will to resume
where it left off once the connection resumes. Finally, the power
settings for your PC / laptop need to be adjusted
(look under `Control Panel`) to prevent the system suspending
or hibernating - if your system is suspended in any way then
MetaTrader (and therefore the robot) are asleep so potential trades
will be missed.

The only other point to make is that the robot looks for a very
specific price pattern which generally occurs once per day - after
seeing this `trigger`, the robot will begin looking for trade entry
points. If you start the system (or restart) the system after this
trigger pattern has occurred then the robot has to wait for the
next time the pattern occurs i.e. the following day.

Not all of this is totaly accurate. I turned my computer off each night, and restarted it between 7:00 and 7:30am, and it picked up a trade each day. I think it just has to be on early enough to setup, I suspect it has a time trigger and detects the change in volitility as the New York session begins. But I really dont know.

I've tried turning off MetaTrader and restarting, so far it didnt produce any additional trades, but something has, your not the first, oneolguy reprted the same thing. Pehaps messing with the setings, changing chart time frames, switching between different curencies. There all worth a try.

I really doubt if you can run two copies at once. Unless you buy two copies and have two activation codes.

Can we run more than one robot at a time? Or do we need seperate accounts for each? There are several other robots I've been looking at, and am interested in testing, ForexTracer, and ForexAutoPilot. These are both $97 robots with different characteristics than this one. They both take positions any time of day, there is no limit to the number of positions they take, they both trade long and short, and they generally capture much larger gains.

AutoPilot dosent use any stop, and they recomend against using one. To me this is just insane. I am not comfortable with the 650 pip stop AutoCash uses. I have read many reviews of these programs and they dont always seem to work equally well. Diferent market conditions produce different results.

ForexTracer runs a trailing stop. Which seems to constantly update, preventing most uncontroled losses. From their backtesting results it looks like it works.

The problem here is not just the 650 pip stop, its the amount of time lost. Months in some cases. Time is money, and for a robot that trades so infequently, and for such small amounts, to sit on losing trades with a 650 pip stop and no time limit is ridiculus. All good trading tells us to limit our losses, to run both price and time stops. If a trade goes against us get out, if a trade goes nowhere get out. Keep the loses small and dont waste time waiting on hope.

The ForexTracer program seems to update its stop both when the price moves up and after a period of time. So far this program interests me more than the others. But there are others that arent heavily advertised like these.