You bet, I will be watching every one of your calls, thanks again, I owe you a round of drinks hahaha

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4 powerful forex robots in one software : tinyurl.com/4forexrobots

Well, they all won't turn out like that. haha! But we did have a good run.

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The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.

Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com

Yes of course, but you (we) don't have to be correct 100% of the time to make money in the forex market (or any other freely traded market for that matter).

Anyway, I like your trading style a lot and I trade the same way, you are not only trading WITH the trend but you are also looking for breakout within that same larger trend, while still keeping the stop tight.

In other words you are just playing the odds, like a poker or blackjack pro.

Have a good weekend and keep up the good work, you are definitively an invaluable asset to this forum and to the whole FXCM community.

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4 powerful forex robots in one software : tinyurl.com/4forexrobots

Thanks so much. I appreciate those kind words. You have a good weekend too.

__________________
The DailyFX Forums have over 75,000 members, and many discussions going on at once. If you aren’t sure where to get started, email me with your questions and I’ll introduce you to the community and point you in the right direction. I look forward to hearing from you.

Sean Hyman - DailyFX Forum Moderator - shyman@dailyfx.com

Hey there imported_Bigpips

Mate, I'm calling you out for false and misleading representations in sales material for the robot advertised in your signature line under your Posts in this good forum ...

IvyBot, Best Professional Forex Trading Robot, Top Automated System, Metatrader Broker

After ignoring the usual sales blurb, I decided to buy that robot called "IvyBot Forex Robot" on the basis of its "Session Profile" feature highlighting the different global trading sessions on currency charts (because certain little quirks when London opens is one of my scalping techniques).

Your sales blurb includes, quote ...

Remember how I told you how SIMPLE this is?
Well, all you need is to know how to download a program (actually, most of that is also taken care for you!) and that's it! Downloading is a very simple process. Our instructional videos will guide you through the step by step process.

Not comfortable with technology?

We know that many people are not very good with computers. We have simplified everything for you and have preprogrammed everything! If you still do not understand it is ok we will help you.

It is as SIMPLE as 1 - 2 - 3

Download IvyBot. You will instantly receive the expert advisor file for use with Metatrader.

Install it on your computer. It is compatible with any Personal Computer.

Collect Cash! Once its set up you can literally walk away. That's right, just walk away!

Putting aside the "collect cash" bit (I ain't that gullible) the word "SIMPLE" is the operative representation in that blurb, is it not?

So,

1. I paid the some $150 or so to buy IvyBot.

2. Then got diverted to more sales blurb wanting another $120 or so for added services, which I skipped and finally got back to the IvyBot download instructions with some difficulty.

3. Then found I had to download MetaTrading Platform, with options for Demo or paid up account (I choose Demo as I'm quite happy with FXCM thanks).

4. Then followed next step and downloaded IvyBot.

5. Then found I had to print out your 25 page colour User Guide (as it's all too much to comprehend on screen) near running my ink tanks dry.

6. Then found setting up IvyBot is way beyond my modest expertise (limited to using computers for only 15 years and downloading only a couple hundred programs).

7. Then had to accept your kind offer of a provide professional help to set up IvyBot.

8. Then found I had to pay a further $67 to get that kind help from a 3rd party technician called "Plimus" ... then find after paying, it ain't instant help.

9. Here I now sit, a couple of hundred bucks out of pocket, waiting for Plimus to contact me "sometime in next 24 hours", complete with now 10 auto-generated emails from IvyBot, MetaTrader and Plimus plus IvyBot's 25 page User Manual.

10. Hoping, perhaps beyond hope, I will be somehow able to use any IvyBot goodies on my FXCM platform.

Now, Mr imported_Bigpips, you may well be a fair dinkum honest bloke and IvyBot may well be a world beater ... but that ain't the point.

Point is, in the legal sense, your representation of "Simple" constitutes a false and misleading representation which I relied on to my detriment.

And, your representation (of simplicity) is knowingly false otherwise you would not have arranged for Plimus to install IvyBot for a backend $67 fee ... being a material fact deliberately omitted in the upfront sales pitch.

Hmmm, that feels better, have a good weekend too mate!

Sir, I do not represent IvyBot in any way, I purchased their product just like you and it works perfectly well, as advertised, that's why I recommend it to other fellow traders. if you are unhappy with their product or their service, you may ask for a refund, you have up to 60 days to do so. The optional services you were talking about are just that, optional, I did not have to pay for them because the software is relatively easy to install and use for the average trader.

That said the software does require some basic knowledge of the well-known Metatrader platform, the software that IvyBot uses to generate buy/sell signals and that fact is clearly explained on their website (for example re-read the part that says "You will instantly receive the expert advisor file for use with Metatrader.") so the company assumes that you are at least familiar with Metatrader and Expert Advisor (EA) files.

I am sorry you could not get in touch with their third-party technicians fast enough and I understand your frustration but I have absolutely no control over that. Just go to the website (the support section) and submit a ticket, they will help you with any problem you may have. In the meantime try and set up the software and see the results for yourself.

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4 powerful forex robots in one software : tinyurl.com/4forexrobots

Arh!! Now, pull my other leg friend!

1. The MetaTrader Platform signup/download precondition for using IvyBot is buried in vague fine print ... click the link in your signature line and look.

2. IvyBot is effectively a marketing tool for MetaTrader in competition against FXCM (in the sense that IvyBot works only on MetaTrader who wanted me to open an account with real cash).

3. Quote "that's why I recommend it to other fellow traders" is a clear admittance that you are working to swing FXCM customers to MetaTrader.

4. Quote "it works perfectly well, as advertised". IvyBot's entire advertising pitch is that it will make you heaps of profit to buy fancy cars etc etc if you buy and use it.

5. So, why do you bother coming here to FXCM if IvyBot is working "perfectly well" to make you stacks of money on MetaTrader platform?

6. You come here my friend because you are receiving commission on each sign-up via the link in your signature line - if indeed you are not a principal of IvyBot itself.

7. You virtually ignored my central complaint of false and misleading marketing material for misrepresenting IvyBot as simple to install - the jolly thing is a nightmare ... and I still ain't heard from the technicians I paid your concealed backend fee of $67 to install!

Metatrader is NOT in competition against FXCM, for the simple reason that FXCM is ALREADY offering Metatrader to FXCM customers who are familiar with this software! Here, see for yourself : http://www.fxcm.com/meta-trader-4-news-release.jsp

You can also use any trading system (like IvyBot Expert Advisor) with your existing FXCM account, there is absolutely no need to switch to another forex broker, more details here : MetaTrader 4| Meta Trader - Forex Trading Platform

So, still thinking that I am trying to "swing" FXCM customers to Metatrader?

That said I have nothing but praise for FXCM, my 300+ posts in this forum will show you that immediately.

Again Sir, I have absolulety no control over that matter, I am just one of their many happy customers, if you still don't hear from their technicians in the next few days then I suggest you request a refund, simple as that. In the meantime try to familiarize yourself with MetaTrader, it would be unwise not to give the software at least a fair try.

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4 powerful forex robots in one software : tinyurl.com/4forexrobots

What is the risk/reward ratio of this EA?
What is the stop in pips per trade and what is the Take Profit per trade in pips?

Thanks!

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http://mywavez.blogspot.com/
http://www.mywavez.net

Pippin. I know someone who bought this Ivybot 2 weeks ago. I could give you some vague details. Don't know about R/R ratio, but the average take profit default is about 80-100 pips (not as good as your average 500+pips track record, hehehhh). And you can change the properties/setting to a take profit level that you feel more suitable for scalping so the robot can be more active, they state in their document for some minor change of setting for scalping. My friend only bought it recently so asked why he'd seen no trades. In reply to his email enquiry Ivybot said the thing had done about 120 trades this year on all 4 pairs (only 4 pairs at the moment, EURUSD, USDJPY, USDCHF & EURJPY). This is all that I know, and given the price level, I am a bit tempted to give it a try.

Hi Ilovepippin,

I started trading the system with real money on August 10 2009, before that I tested the system with a demo account just to see the results. So far so good, the system brought me about $1500 per standard lot from August 10 to August 21, trading the USD/JPY and the EUR/JPY. My biggest winning trade was $590 and the biggest losing trade was $392 (about 39 pips), again per 100K lot.

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4 powerful forex robots in one software : tinyurl.com/4forexrobots

Most of these "scalping" bots have an r/r of 4:1 or higher meaning you risk 40 pips to win 10, and then they leave these unclosed orders out at huge losses and unrealized loss is huge. The sheet shows a nice profit, but in reality they are trading at a loss. (Just like Wall Street).

I programmed a couple of EA's myself, one profitable but the setups are such that it doesn't trade very much, very long term.

Also, you can get some nice profitable bots from the web for free.
However they were programmed for those low volatile ever rising markets and well, that changed. So they don't work right now, but will as soon as everything stabalizes.

However, all in all, with all the research I have done, I have not found one reliable profitable EA. Doesn't mean there's not one out there, just means I haven't found one. If you do, let me know please.

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http://mywavez.blogspot.com/
http://www.mywavez.net

Well not this one from what I noticed. This 4 robots in one can do scalp trade, daytrade and swing trade, depending on the settings you choose.

Unlike many others, the beauty of this software is that it is constantly self-adjusting to the volatility of market, via its update module.

I won't make any other comments about this software, we are already way off topic, my apologies to the readers.

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4 powerful forex robots in one software : tinyurl.com/4forexrobots

Gotta hand to you Imported_Bigpips, you are one hellava good slick writer and pretty skilled at dodging bullets but I'm sticking to this case like a blue heeler hanging on the bull's tail ... until you quit selling IvyBot on these forum pages.

You see, I don't want other newbies to experience the same misfortune I did by clicking on your signature line under your good Posts in these forumsand ending up $216.95 out of pocket to buy your scam IvyBot forex robot.

And, a big whack of my money has gone straight into your own personal pocket.

So far, on my research ....

About IvyBot

1. It is a Clickbank product with huge commission for affiliates.

2. Clickbank pays you 66% commission on each sale made to mugs like me - who click on your signature line in these forum pages and buy it.

3. It specifically targets newcomers to forex ... designed to scalp mugs ... a nice little twist on forex currency scalping.

4. It was released on 28 July 2009, in a massive blitz of underground marketing slime filling the first 30 pages of internet searches.

5. Your supposedly new revolutionary IvyBot, from "Ivy League" geniuses, is not new at all ... it is a deviant of the old Fapturbo robot with different currency pairs.

6. It comes out of the old Fapturbo camp complete with exactly the same Fapturbo internet marketing strategy and even some same words in its main internet page.

7. The massive volume of in-house IvyBot underground internet material is deliberately designed to drown out truthful reviews on the internet, like as follows.

Independent review of IvyBot

IVYBot Review

IVYBot Results August 14 and 22
by IVY Bot Review

Hi, Sorry for my slight disappearence but my home laptop Windows Vista decided to bust up. Anyway…so lets s start…

Trading Week 10th – 14th August: Winning Week
This was a great week for IVYBot. 7 trades, 7 winning trades.
Profit of $54.04 with 0.1 lots default settings.

One thing to note here is that IVYBot left a trade open on Friday which I didn’t like.

Trading Week 17th – 21th August: Confusing Week
Well I was waiting for a loss trade to calculate the stop loss IVYBot is doing by default, and finally we got one, more than one

I had one trade that I am sure of, with a loss of -$171.39, with 0.1 lots. My demo account is $1000, so basically 17.14% loss. NO GOOD. Your risk per trade must always be 2%-5% per trade – NO MORE, in fact recommended is 2%, but 17.14% loss is very bad, extremely bad.

It is a proven fact that even if your account falls by 50%, it will be very difficult to recover. With 17.14% risk, with 4 – 5 successive bad trades, then we can simply close everything down. And hey I am not an expert trader far for it, but I do trade and money management is the most important thing in Forex. Risk more than 5% per trade, keep waiting for your bad trade to become good, and you are wiped out in a day or two.

Anyway back to IVYBot, I still can’t understand why it is risking all that amount, for just 8pip profit!

There were some more good trades along the week, but is useless to talk about them with that -$171.39 loss since the profit is negligible.

And yes I have 3 yes 3 open trades by Friday with total loss between them of around $150. I bet this will end up with $500 compound loss.

Yes Monday morning I stopped IVYBot from my Live account since I knew something is wrong – thank God.

Hi guys,

A scalping oportunity for monday (bulish flag) for usdjpy 1h? I know longer term is still down trend though.[IMG]C:\Documents and Settings\user\Desktop\usdjpy.gif[/IMG]