Forex Growth Bot

Forex Growth Bot is a new EA that I particularly like. The strategy is based on an algorithm calculating the volatility of the pair in two periods (a fast and a small one).

Forex Growth Bot trades the EURUSD on the 15M timeframe.  The user can set the initial lot size (by default 0.05 lots). It also uses a safe compounding strategy that automatically increases the lot size, based on the gains.

One of the most interesting things is the trailing procedure that is implemented in the EA. This trailing procedure let the EA ride the trend very nicely. The strategy is called “Wave Stops”. It is  little complicated to explain. It works by trailing the profits using Elliott Wave theory. It trails by checking the equity levels and its retracements.

You can go more in depth about the wave stops trailing strategy by reading the article on “Stock&Commodities” 09/09 magazine written by the author of the EA, Eugune  Labunsky.

You can read the article here:

http://www.trendmedium.com/download/SurfingYourPositionsWithWaveStops.pdf

Perfomances are really good and the draw down is very low. It it trading live only since 3 months now but it’s a real live account and verified through the broker and myfxbook.

You can see it live trading by following the:

  1. Download and install the Meta Trader platform from the ThinkForex broker: Click Here
  2. Once you installed, run it and click File -> Login
  3. Enter username: 1151607 and password: eug321
  4. Then choose Server: ThinkForex-Live and click Login.

or from the myfxbook account here:

http://www.myfxbook.com/members/fxgrowthbot/forex-growth-bot/71611

Actually the perfomance is +400% gain after two months of trading. Most of the gain has been made with the first trades but it has made more than 2300 pips only on EURUSD with an average gain of more than 100 pips per gain (the average loss is around 25 pips). The percent of profitable trades is 55%. So the gain/loss ratio (taking into account the % of profitable trade and the amount of average gain/average loss) is 4.88. The Profit factor of the live account is an incredible 8.49 but this is mainly due by the gain of the initial trades.

My backtests using tick by tick data, confirm the very good performances. I’ll publish them soon in a dedicated page.

I had the chance to chat with the developers and they are real automatic traders very skilled and with a lot of knowledge. I’ve been impressed by them and I assure that is not something that happens often :)  So much that we’ll try to do something together in the future.

Pricing Information

  • Forex Growth Bot Basic Edition – $70

There are a few additional things you can buy:

  • Forex Growth Bot Advanced Edition – $59
  • Forex Growth Bot Power Source Edition – $70
  • Forex Growth Bot Advanced Support & Optimization – $49 per month

They are not real upsells as you can decide to buy them whenever you want directly from the members section.

Personally I suggest you to buy the Basic Edition + the Advanced if you want to have full access to all the options OR the Power Source if you also want to have some code to customize the EA. The core of the strategy is in the DLL but the code can tweak it like I’ve done.

I’ll send my settings and my code to those who’ll buy the Advanced or Power Source versions from the following link:

http://www.pimpmyea.com/forexgrowthbot.html

546 comments “Forex Growth Bot”

Dear Andrea, I will really appreciate if you can share with us the backtesting that you made of the EA. Thanks in advanced

Hi Andrea,

At what number of pips are you setting the new trailing pips feature at? I'm trying 30 but this is a complete guess.

Many thanks

Russell-James

Hi Russel-James,
I still haven't tested it so I can't tell you much about that.
But I'm about to start a set of backtests and optimizations and I'll send an email (or post) with the best settings for that option as well.

Can you also send me the settings. Thanks a lot in advance.

Hi Andrea,
Do you have any comments on the recent changes to FGB?
- trailing stops; smart exit; chart showing if the EA is following the trades etc.
I am still trialling it in a demo account, I'm still not confident enough to trade live with it.
Also do you have an opinion on the trade copier service? The published trades on Myfxbook certainly have better results than my demo.

Thanks
Graham

Hi Graham,

Things are not too bad for me with the latest version (Power Source).
It's a long t ime ago I didn't let it trade alone, so these 2 ones where unatended on a live account.

It seems that friday and today my fgb closed two trades in profit where FGB forward test were in negative at that time.

My settings (Just the ones I perhaps changed, the non-mentioned ones, I'm sure are defaults)

Lot Size 0,03

Assign_PT_and_St : false
Volatility_factor: 2.0
Profit target: 0.5
Stop Loss:0.2
TrailTargetPips: 75
TrailPips:25
SmartExit: true

2011/04/15 14:45:03Sell0.03EURUSD1.441052011/04/15 15:30:301.440150.000.001.879.0
2011/04/18 17:00:08Sell0.03EURUSD1.420482011/04/18 17:04:041.419180.000.002.7513.0

2 last columns: profit in EUR and pips,
Account: Alpari Micro

NB: i'm wondering if the trailing pips should not be multiplied by 10 ( 750, 250) ???

Hope these info will help some of us.

PS: i decided not to go with the trade copier: things should at least be corrected for what we already paid for.

So, Pipe the pips __ .. __ my friends
v

Bruno

Hi, Andrea. Congratulations on your excellent web site …. and thank you for all your hard work.

I expect that you’re aware of an issue with Forex Growth Bot where the EA ‘loses contol’ of its open trades after an MT4 re-start (or a reset of the EA after changing its settings or the timescale on its Chart).

Have you been advised by the EA authors of a confident date for the release of a version that fully addresses this issue?

Thanks, in anticipation.

Why I try to log in to the thinkforex.com MT4 A/C 1151607, but it seems that cannot log in to verify. Is this accoutn still valid and running?

I think it is not running any more. But look to that Link http://www.myfxbook.com/members/fxgrowthbot/forex

They have a lot of technical problems and they are trying to fix. Hope it'll be soon

Hello. I hope all is well. ForexGrowthBot has been through a few changes since the last time it was pimped up. When can we expect the latest and greatest Pimped version?

Thanks.

Hey andrea!
Thanks to your website I get to find tweaks for this EA! I just bought the Basic version and then from members page an upgrade to Power Version + Additional Live License. Hmm, I can't seem to find any download link for power version but only a basic version link.

By the way, waiting for your settings + codes tweaks for this EA! Can't wait! Thank you!

Hello,
a week before i buyed your EA for a nice price. Its the Version 1.1.
In mutch backtests i found the problem, that old parameters create by backtest most time bring problems in future.
So I can't trust your EA.
What is the best methode to find good parameters for future using?
Please describe the best procedure to find parameters for any currency pair ?
How you find your parameters, I mean the actually parameters, you prefered in your software?
It is a good idea to create every week new parameters by backtest aout the last week or two weeks?
Dear Joe

Hi Andrea, There is a new version of Forex Growth Bot version 1.6. Have you had the opportunity to test this version yet? The previous version was unprofitable so we can only hope this new one is an improvement. Is anyone trading it live and can share the results please.
Tony.

Like several others, I’m curious what is going with FGB. I was doing well with it until a week ago. For some reason, after I upgraded to ver 1.6 it really blew it and lost a great deal. Will there be a new pimped version of FBG soon?

Thanks

Just hit 100% gain on my account with growthbot since starting in January. Very pleased.

Very good James!!

When I try the link to buy FGB through pimpmyea.com I get charged $99 and not $70. I am guessing this is for the basic version. Have prices changed for the add ons also? And if so, what are they?

You buy the basic version, and then from inside their member area you can buy the advanced version.
Thanks ;)

Hi Andrea, I bought the “Forex Growth Bot Power Source Edition” after clicking your link.
I’ve sent you an email yesterday with the details through your contact form. Did you get it?

Please send me your settings and code for the “pimped” version. Thanks! :)

Ciao,
Thanks. I’ll send you the link in a few hours… Out of home now ;)

Question or two…

I am considering purchasing FGB in the next week. Once I purchase it do I have my choice of brokers or does it come with a standard broker? Also, I read somewhere that brokers were making trades then all of a sudden claim they don’t support MT4 thus they kept all the money and left the seller high and dry. How do I protect myself from something like that? Who are the most honest MT4/5 brokers out there? I understand the loss implications. I just don’t want to throw money away using dishonest brokers.

Hi Sam,
as for every EA, FGB has its preferred broker. Every EA usually run better or worst with some broker. I personally test them on FXPro, FXDD Malta and Alpari UK, other than Gallant Capital Markets. But you can read more about its performances in the above comments.

About brokers… I never heard of nasty things like that. Probably because I use well known and reliable brokers. That’s the main point that helps you avoid most of the problems. You’ll find good and bad comments about most of the brokers. Everyone has his/her story to tell about brokers. But if you use only well known brokers you won’t have such kind of problems.

Just concerning last comment,I believe FxPro is scam,main reason is because it was working VERY well with Megadroid and suddenly because people were profiting TOO much from it FxPro decided to cut Mega’s hours a bit (the site was megadroidresults.com for more info) so yes, as SOON as you start making TOO much then they start getting worried.I believe at one stage this WAS a very good combo (broker/bot) but not so anymore :(
I MUST say though while I was using FxPro their withdrawals are very easy (I used moneybookers),you get your money within the week

Dear Andrea, I came across your website unfortunately after I purchased the FGB EA. My experience so far is rather disappointing since the EA has made a profit of USD 348 only over 40 days. FGB is rather quite in my case hence my question if you would be willing to share your settings on an exceptional basis with me. I am rather sure that the problem is is either with the broker or my settings and not with FGB.
Thank you very much for considering.

Best Regards
Stefan

Ciao Stefan, check your inbox ;-)

This EA seems like not working well since July. Keep making losses.

We are a bunch of volunteers and starting a new scheme in our community. Your site offered us with useful information to work on. You have performed a formidable activity and our entire group can be thankful to you.

Stefan, You’re worried about making a $348 profit!!
Most people do not make consistent profits with anything…
Be thankful if you are.
About FGB. I find it quite poor on 15M. So try another timeframe…

I have been using FGB for more then a year and today i stand breakeven. after much investigation the only difference i found was that if i had no fifo i would have been a few cople of 100 pips in plus, but been in the US we have no choice. I have stopped using it and put it back on demo.. unitl i find a better setting.. if anyoen has a better settign please share.

Hi Andrea,
I have FGB Basic and FGB Advanced and long time ago a FGB version of yourself.
Please send me your latest version with your settings.

One more question:
Which version has the function ReInvestCapital = ?

Chris

Hi Christian,

there version you have is the latest. So the settings.

You should ask to FGB support about the “ReInvestCapital” setting.

Hi Andrea

Are you still giving settings to those who purchase via your link? Are your settings working ok?

Regards

Anton

Hello?? Andrea I sent a message to you and now I am reposting, Please inform as to wether or not you still supply SET FILE???

Hi,
I don’t support any “set” file but a pyramiding strategy using FGB.
Sincerely I don’t know if they still sell it after the problems with Plimus.
If you’re interested I’ll contact the developer/distributor.
Cheers,
Andrea

Hello everyone, I have an issue with my forex growth bot 1.8, someone sold me for $59 on facebook, he sent me 4 files, forex growth bot indicator, a preset file, a library file and forex growth bot EA, it does not opens a trade when a chart gives a signal by forex growth bot indicator, pls help if he missed any file, hes not anymore at facebook :( pls help

Hi Mohammad, unfortunately we cannot help you. Buying pirated copies of indicators and EAs is always a waste of time and money. You infringe copyright, do not get support, do not get free updates and many times you don’t even get a working copy of the software in the first place.

Enter username: 1151607 and password: eug321
Then choose Server: ThinkForex-Live and click Login.

–> can’t use!


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