I have just started to test this Expert Advisor as i like the theory and the method that it trades under and who could refuse an Unlimited Free Demo of The Robominer.
Since it is more of a safer longer term type of an EA i will most likely test it for a couple of months before i purchase it.
Here is a snippet off there website:
How Robominer Works
The objective in designing Robominer was to achieve a risk level in forex trading comparable to other forms of investment. The method used by Robominer is grid trading, and the pairs selected exhibit relatively narrow historical trading ranges in each case, a total range of about 2640 pips. This 2640 pip range is divided into 66 sub-ranges, corresponding to the size of an average wave in each pair. Above the centre point of the range, Robominer opens only sell (short) trades, and below the centre it opens only buy (long) trades. If the pair remains within its 2640 pip historical range, no more than 33 trades can remain open at a loss, creating a drawdown on the account balance. (No trade will be closed until it is 40 pips in profit.) The total accumulated drawdown for AUDNZD would then be $1525 ($2319 for EURCHF). As long as the account balance covers this potential drawdown (plus an extra margin of safety), the likelihood of a margin call and loss of funds is kept to a manageable minimum. Robominer will open long positions when the price is below the centreline and short positions when the price is above the centreline, closing each trade when it reaches its profit objective (50 pips). Trades that remain open will not result in a margin call as long as the drawdown is covered by the account balance. To ensure that the drawdown is not exceeded, the default BalanceFactor and LotSize values should be used. We recommend trading both pairs (AUDNZD and EURCHF) if possible for an added measure of safety. When Balancefactor is set to zero, Robominer operates as if the balance were $3,500 as long as the actual account balance remains relatively low. This figure is increased by steps up to a maximum $7,500 when the actual account balance reaches $100,000 and safety becomes more important than growth.
Edit link by request of poster
maree43
Jul 9 2009, 02:23 PM
I've been live with Robominer since 2nd Feb and can't speak highly enough of it!
No losing trades....it just keeps ticking over those winning trades day after day.
Recommended!
Maree
Globalprofits
Jul 9 2009, 03:13 PM
QUOTE (maree43 @ Jul 10 2009, 08:23 AM)
I've been live with Robominer since 2nd Feb and can't speak highly enough of it!
No losing trades....it just keeps ticking over those winning trades day after day.
Recommended!
Maree
Well no realized lose's anyway but i guess that is how this system works.
Have you ever traded forex before Maree or is this your first time?
Every time that Robominer has taken a trade on my demo account i have gone and studied the 5 and 15 minute charts and the 1 and 4 hour charts and found that i could get in at a much better price later there for i would end up with the same result except i would have less orders opened in draw down.
I was trying to figure a way of posting the Robominer Proof PDF here but i haven't been able to so the only way to see it is to sign up for a Free demo membership, if you have any interest in forex robots and you would like to know how this one works then it is a great read.
After the first few days on my $20,000 demo account Robominer has closed 7 orders for a total profit of $132.48 and has 5 orders still open which is - $104.91
Now on the surface that doesn't look to good but once you read the Proof PDF and understand how Robominer works you will see that having orders open and in a draw down is normal for it's strategy.
Has anyone else downloaded it for free and started testing it yet?
If so i would love to see how you are going with it especially if you are testing with a different broker, i have it set up on a GoMarkets demo which kind of sux, it will expire after 15 days so i may have to look to put it on another platform.
GP
maree43
Jul 14 2009, 04:13 PM
Hi GP
Nope I haven't traded forex before I stumbled upon Robominer. Frankly, I couldn't care less about indicators, signals, blah, blah, blah as it makes my head hurt I know some people love it but I just want the $$ to keep ticking over without me having to analyse anything.
I know it's fascinating to watch the numbers change when you first get Robominer but after a while it becomes ho hum and you really don't give a fig about how much the drawdown is etc. As long as you have the recommended money management in place there is nothing to worry about.
There is heaps of information in the free member area as you say for anyone who wants to get into the mathematical formula details. Do you know any other ea that lets you demo it BEFORE you pay any money?
I've posted a link to my live statement on my website which dates back to February. Ignore anything that's not aud/nzd & eur/chf trades. I've stopped fiddling around with other ea's now and just letting RM do it's thing.
Happy trading
Maree
Globalprofits
Jul 14 2009, 04:28 PM
QUOTE
Hi GP
Nope I haven't traded forex before I stumbled upon Robominer. Frankly, I couldn't care less about indicators, signals, blah, blah, blah as it makes my head hurt I know some people love it but I just want the $$ to keep ticking over without me having to analyse anything.
LoL, yes you make a great point, people either get hooked like me or they look at the charts and it makes them dizzy!
I totally agree with you about it being very unusual that anyone can just sign up for free and try Robominer for free on a demo account for as long as they want and you are totally right about the drawdown, it is one of the first systems that i have looked at that i could set up and just let it do it's thing and not be worried that my account would get wiped out (Not that i will let it do it's own thing, i am already experimenting and getting great results, i can't help myself) and if people read the Proof PDF they will know what i mean.
I'm glad your going well with it Maree and it's great to see that it works well on a live account as well, with all your wealth creation stuff you have going on it will be no time at all before you can say goodbye to the boss for good!
GP
Globalprofits
Jul 15 2009, 03:52 PM
Robominer had another good day on my demo account.
Profit is now $255.89 and Robominer has 3 open trades which as i type are -$32.36 down.
Hello GP, Would you be kind enough to share your knowledge of Robominer with me as well. I have the demo running for the last few weeks and love the profits rolling in. But i am scared with the possiblity that open positions could go in serious drawdown in a reverse trend. I would love to hear how you manage your entries so as to avoid drawndown positions as much as possible.
Thanks
Make sure you read the Proof PFD it explains how it is designed so that your account should never be at risk of blowing up but still it does take time to get used to open orders that have a - in front of them on your account for a period of time.
As for managing the entry's it's rather simple if you can read Technical Analysis which is the problem i guess, most people use Expert Advisors \ Forex Robots because they can't read Technical Analysis or they have never traded in there life.
So all i do is wait until Robominer takes a trade on the demo and then i take a look at my charts which i have set up with indicators and if i think that there will be an opportunity to take a better entry i wait and then get a better price when it presents itself.
It has worked very well so far but i think it will work even better in a couple of months when i am totally satisfied with my testing and i purchase Robominer and put it on to a mini account with GoMarkets, as most people know demo accounts can vary so much from a real live account so i may be missing trades or i may be getting more then i would on the real account but my plan will be stick Robominer onto the GoMarket Mini account and then get the better entry on my Standard GoMarket Account,
I hope that makes sense.
GP
Globalprofits
Jul 16 2009, 04:50 PM
bravester10 i just thought that i would add, if you do not have the experience to get better entry's it doesn't matter just look at the results that maree43 has produced with Robominer and she has never traded forex before and she just leaves Robominer to do it's thing.
It has been designed to run with out human intervention it's just that i can read charts and i will use that to my advantage.
Robominer has closed 1 more order since my last update and now the account is sitting at $272.10 profit and 5 open orders which as i type are sitting at -$16.19
Robominer took 3 sells on the AudNzd when this happened: Kiwi Downgrade which caused a spike which went 113 pips in a 1 hour candle so the first 2 orders that Robominer placed are still open but looking ok.
Hello GP, Ok , so i finally found you on this new thread. Can you post a link to the proof PDF that you speak of? Or can you upload it to some free site and paste the link here.
Thanks a bunch
maree43
Jul 16 2009, 10:05 PM
Hi GP
Yep, that's true - I was lucky enough to stumble upon Robominer back in late Jan, signed up as a free member and downloaded the free demo, went live on 2nd Feb and couldn't be happier. I will start to draw an income at the end of this month supplementing the 2 days a week I now work at my J.O.B (Just Over Broke). Will most likely be firing the boss very, very soon! I have a couple of other irons in the fire too so don't worry that I have all my eggs in one basket Could I use any more cliches if I tried
I do let it do it's thing aside from one little tweak. You can effectively double some of your trades by one little setting change whenever you have 5 or more open trades in a pair. It's great fun to watch a double trade close for profit. I have a double trade happening close to closing out right now as a matter of fact in the eur/chf pair but it is teasing me by going sideways
You truly do get over stressing about the open trades after a while - as long as your money management is in place as per the manual you are just fine.
Happy trading all..
Maree
Globalprofits
Jul 16 2009, 10:51 PM
QUOTE (bravester10 @ Jul 17 2009, 03:42 PM)
Hello GP, Ok , so i finally found you on this new thread. Can you post a link to the proof PDF that you speak of? Or can you upload it to some free site and paste the link here.
Thanks a bunch
I wish i could bravester10 but i just can't work out a way of doing it, all you have to do is sign up to be a free membership and you can download the Proof PDF and even better you can download the Robominer for free and hook it up to a demo account and watch it do it's stuff for as long as you want, totally free!
Maree eur/chf would be one of the slowest pairs around but Robominer still makes it into a profitable pair though.
GP
forexmonster
Jul 17 2009, 12:43 AM
I just signed up and have it running on a demo account with $3811.59 starting balance, lets see how it goes.
Globalprofits
Jul 17 2009, 01:20 AM
QUOTE (forexmonster @ Jul 17 2009, 06:43 PM)
I just signed up and have it running on a demo account with $3811.59 starting balance, lets see how it goes.
Why did you pick that amount and what leverage are you using and do you know how to hook up MT4 Stats?
Well, my eur/chf double trade closed out for profit...fun and games!
Globalprofits
Jul 17 2009, 02:01 PM
QUOTE (forexmonster @ Jul 17 2009, 08:14 PM)
The balance is whats left in my demo account after some bad manual trades, lol.
I'm now just going to let Robominer do it's thing and see how it goes.
I'll hook up a stats page.
Thanks for hooking the stats up, it will be great to see how Robominer performs with different brokers.
I'm using GoMarkets which one are you using?
If i was you i would start a new demo account for Robominer with a similar amount that i would use if i ever went live with Robominer that way you will get a better indication of the results you will achieve.
Hey there syber90 are you going to hook up MT4 Stats and if you do what broker are you using.
Great to see Robominer in a real live account making some nice trades Maree, that would of been a nice end to the week for you.
Have a great weekend everyone.
GP
maree43
Jul 17 2009, 03:23 PM
This week's results - My account $304.97, my partners $183.18.
Should have closed out more aud/nzd but the market closed with spread of 58!!!!
What tha?
Mareee
forexmonster
Jul 17 2009, 04:35 PM
QUOTE (Globalprofits @ Jul 18 2009, 08:01 AM)
Thanks for hooking the stats up, it will be great to see how Robominer performs with different brokers.
I'm using GoMarkets which one are you using?
If i was you i would start a new demo account for Robominer with a similar amount that i would use if i ever went live with Robominer that way you will get a better indication of the results you will achieve.
GP, my demo account is ForexMeta, I have a live account with GoMarkets running MD and Forexmonster, could not be happier with MD, only one major loosing trade so far, as far as Forexmonster goes, no action at all so far.
How do I change the lot size with Robominer? I want to reduce it to a more realistic size for the equity amount.
forexmonster
Jul 17 2009, 05:28 PM
QUOTE (maree43 @ Jul 18 2009, 09:23 AM)
This week's results - My account $304.97, my partners $183.18.
Should have closed out more aud/nzd but the market closed with spread of 58!!!!
What tha?
Mareee
Yes, what the hell happened there? I have an open aud/nzd trade running on my live account which should have closed but didn't.....
Globalprofits
Jul 18 2009, 05:23 AM
forexmonster you need to make sure that you have read the Robominer Manual as it explains everything in detail.
I have copy and pasted this part from it that may help you:
To ensure that the drawdown is not exceeded, the default BalanceFactor and LotSize values should be used. We recommend trading both pairs (AUDNZD and EURCHF) if possible for an added measure of safety. When Balancefactor is set to zero, Robominer operates as if the balance were $3,500 as long as the actual account balance remains relatively low. This figure is increased by steps up to a maximum $7,500 when the actual account balance reaches $100,000 and safety becomes more important than growth. Details of the calculations involved in the design of Robominer are given in the document titled Proof PDF.
As for the spike on the chart on the Aud/Nzd trade that should of closed i would say that it was a glitch on the platform which occasionally happens, i am going to ring GoMarkets first thing Monday morning and ask what happened and i will post here with what they say.
GP
vadafac09
Jul 18 2009, 06:22 AM
I have -120 "profit" on a 10,000$ demo account. This robot is a fake and I'm not surprise because is a free robot
maree43
Jul 18 2009, 08:07 AM
QUOTE (vadafac09 @ Jul 19 2009, 12:22 AM)
I have -120 "profit" on a 10,000$ demo account. This robot is a fake and I'm not surprise because is a free robot
vadafac09 - are your talking about Robominer? Fake? I'm not even sure why I am responding to such a ridiculous post....what an earth are you talking about...READ THE MANUAL!!!!!!
Globalprofits
Jul 18 2009, 03:42 PM
QUOTE (vadafac09 @ Jul 19 2009, 12:22 AM)
I have -120 "profit" on a 10,000$ demo account. This robot is a fake and I'm not surprise because is a free robot
vadafac09 this is why i opened this thread so many people could test Robominer with different brokers and we will all see how Robominer performs in a transparent manner.
Your post is just a statement backed up by words only, instead of just making rash statements why don't you hook some MT4 Stats up and get involved with testing Robominer with us.
Your statement doesn't tell us how long you have been using Robominer for to come up with the conclusion that it is fake, Maree has had Robominer on her live real money account since February and is in profit so i think it is strange that you would call Robominer a fake.
Robominer is not Free, you can test it on a demo for as long as you like but if you want to place Robominer onto a live account then you must pay for it.
GP
Globalprofits
Jul 19 2009, 04:39 PM
I asked GoMarkets about that spike and they said:
It could have been a mis-hit or a fat finger spike. However, keep in mind that if you were needing to get filled on an ask, the spike may have only been bid side.
Which i can understand, it was the last hour of the week and as GoMarkets gets it's price feed directly from banks then if the orders dry up since it's so late and not the most liquid pair i can see how the spread can widen even that far.
GP
maree43
Jul 19 2009, 04:41 PM
Thanks GP
Spread down to 7 at the moment.
Globalprofits
Jul 19 2009, 06:02 PM
I forgot to update on Friday, Robominer closed 1 more trade and it now sits at $297.80 profit and Robominer has 5 orders open which as i type are -$43.08
I have -120 "profit" on a 10,000$ demo account. This robot is a fake and I'm not surprise because is a free robot
are you sure you're in the right thread ?
Globalprofits
Jul 22 2009, 04:47 PM
My GoMarkets Demo finished yesterday as they only allow you 15 days so i have started a demo at IBFX and set up Robominer version II on it and here is the difference from the first version:
" 1. What is the difference between the RoboMiner II and the RoboMiner?
Here is the short answer: The difference between the RoboMiner and RoboMiner II is that the RoboMiner looks at price levels achieved to close individual orders at a 40 pip profit. It uses a TakeProfit setting to close its orders. It always has to close the latest order first in order to do this, so it does not work with FIFO. The RoboMiner II, on the other hand, opens all of its orders without a TakeProfit. It treats all open orders in the aggregate, and looks at their profit in the aggregate. In other words, it looks at the sum of the profit of all the open orders, instead of looking at individual orders. When a predefined profit level is reached (1 1/2%, for example), it closes all the orders at the same time and starts all over again. It might do this several times each month. So, because it closes all of its open orders at the same time, it has no problem working with FIFO."
I will only update this thread once a week now as i have Robominer set up to follow the new FIFO rules so that means it won't close any orders until the account is in profit by 1.5% so if you have a look Robominer has been placing grid trades for about a week now and i will update again when it closes for that first 1.5% profit.
I know some people love it but I just want the $$ to keep ticking over without me having to analyse anything.
Could I use any more cliches if I tried 
