forex growth bot review | forex growth bot download | forex growth bot settings

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forex growth bot review | forex growth bot download | forex growth bot settings

forex growth bot review

The creator of this expert advisor is Eugene Lipinsky who is a Russian mathematician. He boosts that he has been able to acquire profits of over $100,000 in less than two years from trading his Forex Growth Bot (FGB). He also advises that he is able to demonstrate that this product has produce profits of over 500% in just three months by supplying verifiable proof.

If you purchase this tool then you must next download the software onto your own MT4 trading platform. After optimizing a limited number of key parameters, the expert advisor will be then set to commence trading continuously without further intervention by you. Specifically, this robot will search for quality entry and exit points for new trading opportunities presenting the optimum reward-to-risk ratio.

The FGB will aim to execute an average of six trades per week although this figure can vary between three and ten depending on market volatility. The software design is structured on over eight years of algorithmic trading data which it deployed to forecast the future directional price movements of currency pairs. A powerful money management strategy is also incorporated into this robot in order to protect your trading capital from excessive levels of risk.

This tool is simple to install and operate. In addition, a demo facility is provided to assist you in confirming the operational performance of this device before you risk any of your own equity. The success of the Forex Growth Bot has been primarily attributed to the market date it selects to use during different trading conditions and how the ways that it explicitly utilizes this information.

Although the above marketing claims are quite enticing, how do they really measure up under live conditions? The subsequent results and analysis are presented in order to answer this key query.

Strategy

There’s no description of the strategy so this merely guesswork: the entry is based on a volatility indicator running with two different periods – when the volatility is changing, a trend is considered to have started and the EA will open a position. From here, all the mojo lays in position management: if the market goes against it, the position will be promptly closed (at an average loss of 30 pips) and the EA will wait for other fish to fry. If, however, the market moves in the correct direction, it starts adding to the existing position until it reaches up to 5 times its original size. Sure, sometimes the market will retrace and the positions will not always run their course, but when they flow, they do so nicely.

During the course of such a basket of positions, the EA will occasionally close some of them and open others and frankly I have no clue how this mechanism works – Forex Growth Bot is a bit of a black box, but it works quite nicely both in backtesting and in forward testing and that’s enough for me.

Overall, the win ratio is only about 40%, but this is more than compensated by the fact that the average profit trade is more than twice bigger than the average loss trade. It’s the very definition of a trend-following robot and I’ve been looking for something like this for like two years without much success until now.

The website states that between 3 and 10 trades are open per week, but my analysis seems to suggest an average of more than 1.5 trades per day. Of course, there will be periods of several days without a trade as well as days with 5-6 trades, but on average it trades more than once per day. Even though the author says this is not frequent trading, I beg to differ: at least when compared to other EAs I’ve looked at lately, this is a shower of trades. As for the duration, over 80% of the trades will be closed within a day (the average being around 12 hours), but it’s not uncommon to see trades lasting 2-3 days. As is the case with most trend EAs, opening positions is not restricted to any trading session and trades are just opened around the clock when its signal conditions are met.

It’s notable that the bot opens and closes its positions only at the start of each bar and that it does not send a stoploss & takeprofit target with each order. The latter can be a minor advantage if your broker’s out to get you, but it can also be a hindrance if your internet connection goes down or if your VPS crashes.

As far as I can tell, Forex Growth Bot complies with the no-hedging rules, but does not comply with the FIFO rules because some of its positions get closed before those opened prior to them and still open at the time.

Edit 20.02.2010: should have mentioned this earlier, but I totally forgot. The expert advisor now features a parameter that lets you enable FIFO compliance.

Performance Tests

The results from a sequence of tests, that have recently been performed, are now detailed in the following table. In addition, the average values are displayed in the rightmost column.

Pros

- The Forex Growth Bot offers a convenient step by step guide, and the instructions can easily be understood by someone who has limited experience in Forex Trading.

- Compared to other Forex trading programs, the Forex Growth Bot is relatively affordable.

- The entire system has several built-in strategies for trading the Forex market.

- The Forex Growth Bot's main site offers excellent customer support.

- The system is designed to seek out low risk trade opportunities.

Cons

- Using the system can be time consuming.

- A lot of marketing hype surrounds this product.

- The system has a few errors.

Conclusion

The Forex Growth Bot is generally more advanced than other Forex trading programs. Despite its better features though, it's remarkably easy to use, and most users report that they were able to get it running without too much trouble. The Forex Growth Bot also seems to be a highly adaptable system and can keep working admirably despite sudden changes in market conditions.

On the other hand, considering how its list price is $129, the Forex Growth Bot could hardly be considered as the cheapest Forex trading program on the market. Also, some of its ancillary features could use some improvement. Despite these problems though, the Forex Growth Bot is a system that combines efficiency and simplicity. This system allows users to navigate through the more confusing characteristics of Forex Trading without dumbing down the basic strategies behind them. With the inclusion of bonus guides as well as free 24 hours customer support, the Forex Growth Bot is a system that's worth its price.

CLICK HERE NOW TO USE FOREX GROWTH BOT

forex growth bot settings

Key Parameters

A procedure is now needed to help you in ascertain if the Forex Growth Bot is a viable option. This objective can be achieved by determining its win-to-loss ratio, expectancy value and reward-to-risk ratio. These key performance parameters are now calculated for this expert advisor using the average values listed in the above table.

1.       Win-to-loss ratio = 37%

2.       Reward-to-Risk ratio = 1.83

3.       Expectancy Value = $1.81

The figures displayed above indicate that the Forex Growth Bot has the potential to return $1.81 for every US Dollar placed at risk over the long-haul.

When it comes to configuration, it can easily be called lackluster. It lacks all the bells and whistles that other EAs shower you with. All the money management in the basic version consists in a parameter that lets you set the lot size manually. There are also 3 parameters for controlling the volatility settings but you shouldn’t touch those unless you want to optimize it for a different pair and timeframe.

Speaking of which, the author recommends only running it on EURUSD M15, but it can be run on other pairs as well so feel free to experiment. The only such endeavor that I had the time for was actually a mistake: I prepared an EURUSD M5 FXT and ran it on that one by accident; as luck would have it, it was profitable with the default settings even on that timeframe. By the way, if you do try to optimize it on other pairs, feel free to use the “open prices only” method, it’ll do just fine given the fact that the EA only trades and closes on bar start.

There is also an advanced version (purchased separately) that gives you access to more settings such as an interesting Wave Trailing (kind of a trailing stop) and more volatility settings that the manual briefly describes without giving any indication of the range you should use for them or what will they actually do when changed. It’s notable that the advanced version has a reinvest capital option, which is some kind of “advanced” money management – the lot size will be increased by 0.1 for each $4500 profit.

This brings me to position sizing. Like I said, you can input the number of lots manually and the manual states that you should use 0.01 lots for balances lower than $250 and 0.1 lots for balances above $2000. However, my recommendation is to use no more than 0.1 for each $5000 in your account (this translates to 0.02 lots per $1k), perhaps going as low as 0.01 lots per $1000 balance, depending on your drawdown tolerance, but I will go more into this in the backtesting section. Overall, the money management that adds 0.1 for each $4500 profit seems quite reasonable.

Given the chart decorations that I’ve seen in some EAs lately, I would’ve also expected to see a bunch of comments on my screen from Forex Growth Bot, but surprisingly it’s totally silent, not only on the chart but in the experts log as well.

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Forex Growth Bot
(Tim’s Optimization Settings vs. Default Settings)

I’m currently only using Tim’s Optimization Settings due to the lower drawdown and higher return.

If you’re not convince with the above results, you can test this EA by following the following steps:

    First, go to Alpari UK website and register a demo/live account

    Download the MT4 platform

    Register an demo account

    Download complete high quality minute (M1) alpari forex historical data for metatrader 4

    Download the fixed spreads (Using a Fixed Spread for Backtesting Forex EA with MT4 Strategy Tester)

    Then you can start backtesting using the strategy tester