RoboMiner First Trade
RoboMiner have just closed the first successful trade with a profit of $2.75 with 0.01 lots, 40 PIP Trade Profit!
I have not changed any settings and let everything as default.
Successful Trade was as follows:
Sell Trade @ 1.2275
Trade Closed @ 1.2235
Basically at 40 PIP Profit!
Going for high pips is imperative for this robot since the spread in the AUD/NZD are typically very high – 12-14 normally, and of course varies from broker to broker.
There are currently other 4 trades open.
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I just started a demo account (IBFX with the Robominer)….I opened 3 trades and was slightly negative -2.78 i believe….so i opened another chart and changed the magic number on the AUDNZD becuase that was where the big negative trade was…and it made things worse…is this not what I was supposed to do? only when the trade gets way out of line?
Hi Mike,
Wait wait with RoboMinor. Do not rush. This is not IVYBot, Fap Turbo, Forex Accumulator etc. crap.
If you read the manual, it explains how it works. In short, RoboMinor uses Grid Trading System where the historical highs and lows are split in a grid. The center is calculated, and if the current price hits one of the grid points, it goes long or short depending where it is relative to the central pivot. if it is above, it takes short, if it is below it goes long. The is based on the fundamental theory that the market returns in equilibrium, thus always approach the center by time.
So, you will be having a lot of open positions, especially if the market went in the same direction recently. When it retracts, it will start closing the positions. This is why you need large account in the eventuality of hitting historical high / low.
In the manual there is explained what happens, if the market goes beyond historical highs or lows.
Give it time, and have a look at my statement. Right now mine stands at $50.00. I forgot how often I did the report to refresh, so you may see the statement of yesterday trades automated If trading both currencies, you must have at least $3500 account. Be careful not to mess with lots and balance factor. You need to know what you are doing with these.
Hope I was helpful.
thanks…..I am wondering now about the FIFO on true….do I need to close the trades manually now? Because the TP went to 0.00? Thanks
no no leave everything as is. TP should be set when the trade is open because that is based on the grid. SP leave it zero since that is calculated automatically. FIFO leave it to false, I forgot what it is right now. Will check it out for you later.