Finally, a more respectable forex robot, ivybot trading system after forex megadroid is going to be released on 28th July '09.

Actually, the creators didn't want to give up his proprietary automated trading robot to the public. Afterall they were making money with it. However, they decided to released it as they think it was better than any forex robots on the market.

Now everyone can benefit from the unique forex trading system found inside ivybot robot.

Lets dig further to understand ivybot forex software and whether it deserved all the attention so far.

I have to ask a basic review copy from the initial ivybot trading system users who have first hand information about this automated trading robot.

IvyBot Short Description



Let us go through the differences of ivybot trader and other automatic robot.

ivybot forex robot is very different from the average automatic trading software. It adopts one individual forex trading system for each currency.

I am sure you have ever see a forex robot that has a specialized forex trading system for the currencies.

The vendors understand that most of the automated forex software couldn't deal with trading other currencies other than EUR/USD thus the need to come up with a creative solution.

I am impressed with the rather straight-forward solution ivybot forex system is using. It uses a unique forex trading system to handle each currency. No more discrepancy and poor handling due to coding. 1 currency 1 trading formula. Sounds good to me.

Thus, the forex robot can deal with more currencies effectively, increasing trading frequencies and more profits on the table!



Review Summary for ivybot robot

Frankly speaking, all is too early to say whether ivybot forex software is going to be successful or not. We need more time to test out the automated trading robot ourself.

The current backtest and short term live results from IvyBot is very encouraging. It is very good at scalping and the winning rate is exceptionally high.

One thing to note is that ivybot trader uses 4 different forex trading system to deal with the 4 traded currencies. Thus 4 different expert advisors were coded for the currencies. All the parts come with a constanty lifetime free upgrades.

As of now, ivybot robot has passed our scam check guidelines and the vendors certainly look professional to take this forex automated software up to Fapturbo level.

I see that so far you have started 3 threads all of them are for Affiliate sale robots, do you trade forex yourself and have you purchased these robots?.

Are you going to prove you use these robots by hooking live stats up to them?

As for 523.98% in 190 days well your BULL**** detection radar missed that one didn't it, this is just like every other Robot on the market full of Hype, every robot that i have traded has never come close to earning the % that was on there flashy hyped up website, i have traded ones that do match up to there claims of % accuracy but not % profit and they don't even come close.

Look forward to watching you test these robots.

GP

wait until MY BOT is up and running...
1,000% return daily easily.

(ok the return is alot less, it's not a scalper and I will run it on demo soon as i get an issue fixed)

Are you kidding me ? Daily ? If it's not hourly I won't touch it..

Jokes aside, anyone purchase it and opened a demo account ? It will be interesting to see some results. If this would equal FAP and Megadroid performance that would be great..

Bad News......... :<

Ivybot metatrader price is going up tomorrow afternoon.
If you are interested in the ivybot I would suggest purchasing before the price increase. I don't know what the price will be (I think $179 but not sure).

Again with clickbanks return policy you have 60 days so if you are on the fence you might as well save a few bucks and get it before the price increase.

P.S. Its not a marketing ploy on the price increase from Ivybot metatrader they really are raising the price of the product.

You may of missed this when you posted your last marketing post about getting in quick before the price goes up.

A bit of proof that you trade would be nice.

Most members here are not going to worry about the price going up if they get a bit of proof from someone that this robot works like it says it does, so hook your MT4 Stats up and show us the way.

GP

If only live accounts would perform just as well as demo accounts -- which is often not the case...

BTW, this one had a massive advertising campaign. I had like 4-5 spams trying to convince me to buy it in the past few days. I DO hate spam and DO NOT trust anyone spamming me. But good luck folks!

After FAPTurbot and Megadroid, now it's Ivybot... members who are familiar with these robots know they will find another new one in the next coming months and will jump from one to another... and so on...

This robot is a PICKY trader...Only 2 trades opened so far for the past week...All of them are USD/JPY..

Very similar to how Forex Megadroid trades using 1 hour timeframe... Slow and Steady..

This my dear friend is called pure BS , no one touch this thing with a 5 foot pole. Sorry , try your wares elsewhere.

I have been looking at trading statements which indicate huge gains and whilst I do not doubt the authenticity, I do doubt their ability to consistently make these sorts of gains. In the 6 years I have been trading forex, I have tested and/or programmed perhaps 300 Metatrader 3 and Metatrader 4 EA's, probably more. Yes I had months where I made huge gains, yes even one month of 500%.

That was last year when we had huge seemingly never ending trends that delivered big gains. I have not seen those sorts of gains before nor since. But I see vendors quoting gains made during this period. Very exceptional conditions, which happen when you witness the worst financial crisis since the great depression. The point being I will probably never see conditions like this again in my life time.

I ran some of the statements from one of the most popular robots through an analyzer and whilst at first glance the returns look astonishing the reality is that they were achieved by using dangerous amounts of leverage. The sought of leverage that can empty your account in minutes should the worst case scenario arise. I know from 6 years of trading that the seemingly impossible worst case scenario has a habit of happening when you least expect. So trading 22 full lots on an account size of $30k is positively suicidal in my opinion, if you have got that sort of money to piss away, good luck I say. If you see a robot quoting huge gains, look to see if they are using ridiculous amounts of leverage and also look to see if they are using some variation of "Martingale", which effectively means doubling or significantly lot sizes after incurring a loss. Whilst in theory it works in reality, sooner or later you simply run out of margin when you blow your account.

In summary there are a number of things you need to be aware of when choosing a forex trading robot, especially if you are using a live account with real money. Always demo test your robot for at least a month or more until your are comfortable with the functionality of the robot as well as establishing your appetite for risk.

Also watch out for usage of the Martingale techniques ie. doubling lot sizes after losses, also e careful of "cherry picking", ie. selective use of showing trading statements from the good months whilst omitting the bad ones. Ideally you want to see 6 months of consistent trading on a live account with real money. Back testing statements almost always show optimized results, which can be easily manipulated with the benefit of hindsight, so they in reality usually show absolute best case scenarios and ideal trade execution. In other words back testing cannot be relied upon whatsoever, so when you see that a robot made six million dollars in 10 years of back testing you can safely ignore it. Trading on demo accounts is also fairly suspect, though infinitely more realistic than back testing. The problem with demo testing is that the trade execution is at best only a simulation of actual market conditions so that the price and trade execution you receive on a demo is usually far better than that which you get on a live account with real money. This certainly has been my experience. Things like slippage, holding or delaying trades, and large variations in the spread can greatly effect the profitability of any trading robot.

Very well said and in my experience everything you say is absolutely true!

I've been testing IvyBot on two demo accounts starting August 2nd on an FXDD account and August 14th on a BasicFX account.

IvyBot didn't make any trades untill the 14th so the test results are about the same for both accounts.

Both accounts are being tested with default settings and run all week long from Sunday afternoon until Friday afternoon when the markets close..

On the 20th I changed the lot size from the default 0.1 to 1.0 as recommended in the manual which resulted in a large loss.
On the 22nd I changed the lot size to 0.4, it's ran almost a full week since with no trades.

FXDD

BasicFX


Here are a few MT4Stats links I have found via Google.

IvyBot Live Trading Results

There are four other links on that page.
The results there are much better than mine, the default settings page has about the same results as what I have on my two accounts.

Post your IvyBot NT4Stats here.

Nu24X