Forex Maestro

[Ronika]

My observations re Sunday (Monday Asia) are that in most cases, the price continues with what it was doing on Friday.

All last week we had huge long runs against the US$, so it's no surprise that a retracement or reversal was imminent.

And I've also noticed that the majority of reversals or big moves, happen at the 8 am EST NY open. Check a 4 hour chart and you'll see that the 8 am candle is the big one. The next biggest one is the London open at 4 am EST. There are other turnaround points, but none as big and consistent as the 8 am NY open. Open a 4 hour chart and check the past history to confirm it.

That's what happened this morning on all the major pairs. I believe the GBP/USD will continue to drop at least to a 38% Fibo retracement point @ around 1.4600.

 

[jammixmaster]

Speaking of GBP/USD, that was my last trade today. Forex Maestro opened up a sell trade which I thought was a huge mistake, as it was in the negative zone for at least two hours. Then it started trending higher but retraced lower before I could take profit and I walked away with a small gain.

 

[sa1hawk]

Megadroid

My MegaDroid installs all show "Waiting" on the left legend. For a while yesterday, they said, "Running", but no trades have been taken yet.

I also got that eMail from MegaDroid Support that you posted.[/QUOT

Hello,

Mine made a trade today for 15 pips . . . it wanted to open 3 positions- but i only let it trade one. On $350 it made ( @ 0.10) $16.00 in about 45 minutes. Never goinginto drawdown. What would it have done with three positions . . . each larger than the first? Maybe I will find out sometime soon.

sa1hawk

 

[morango]

Oh, just fyi, if you buy anything through clickbank, clickbank has a 8-week refund policy that the merchants using it must abide by, so if you buy an ea, and it sucks, go to the clickbank website, and get a refund. I've already done this twice, both times with success.

Just my $.02

 

[paul41]

Hi Ronika

Well now I know why it did'nt work, I downloaded the zip file and all the components individually and so when I first loaded the EA I copied it from the individual download, then this morning when I deleted it I copied it from the zip file, which would not work, so deleted that and re-installed from the individual download and it works again, but hey no trades, firebird 3.2 already made 200 pips this morning !

where do you download firbird 3.2 from i have done a search but cant find it

 

[jammixmaster]

You should be able to download the Firebird EA from here: FireBird EA Archives

I believe you can download all versions from that link, though I'm not sure because I don't use Firebird.

 

[ex4ex]

I went trough all those 46 interesting pages.
When I use a new EA I start the standard backtesting procedure, than the forward testing and than the live.
On all those 46 page I have not seen one single trader telling us that he had a positive backtest result with this and that settings. How come? Everybody tried it, no success, but too greedy to accept? What is it, that let us blow up the live account without having a positive backtest?

 

[smokey22]

I went trough all those 46 interesting pages.
When I use a new EA I start the standard back testing procedure, than the forward testing and than the live.
On all those 46 page I have not seen one single trader telling us that he had a positive back test result with this and that settings. How come? Everybody tried it, no success, but too greedy to accept? What is it, that let us blow up the live account without having a positive back test?

Hi,

Your correct with this EA, back testing -forward testing has not been a strong case for this EA . A Simple moving averages EA that comes with MT4 will get you the same results. Your comments on why do we blow up our accounts without back testing is straight to the point, as we think every thing we read in adds copy must be right. In Forex this far from the truth. I have forward tested all of my EA and have found that only one or 2 give you a fair return, most are just down right scary. So before you rush in with real money test, test and not forgetting test again. As for how many EA I have bought and wasted my money on - mega lots. One thing I have noticed is if there is a huge marketing push for a make lots of cash with a red hot EA - it 95% a dud. So how do you know what is right to buy?. When you find the answer to that question let me know. I also don't believe the reviews you read on red hot EA, its just marketing hype for your cash. By my comments you may think I am negative on Forex - no just a little wiser.

Smokey22

 

[Stu0898]

As I'm building my own EA at the moment for my own strategy, I have been doing a lot of testing. IMHO backtesting is only useful to check that the EA actually trades how you want it to in any given scenario, as far as using it to optimize the EA or prove it to be a winning strategy I have found this (at least so far) to be a waste of time.

I can optimize the several EAa I have written to produce $100000s in just weeks on a backtest but have problems getting the same kind of performance when forward testing. Another caveat is getting the same performance that I can get forward testing on a demo account to match forward 'testing' on a live account. I say 'testing' but it is actually trading as I'm using real money! Has anyone else seen this?

I'm sure these are the problems that all the devlopers of these EAs run into and why they finally just try and sell something that can produce loads of cash on a back test rather than trying to trade it themselves!

Anyone on the market for an EA should demand live trading statistics before even considering buying it, even then there is no guarantee that one which has made a profit for a few months will continue to do so!

Incidentally I'm almost ready to release my EA to the people who have already PM'd me wanting to try it out, anyone else out there who wants to be included please PM me your e-mail address and I'll add you to the mail out.

 

[paul41]

As I'm building my own EA at the moment for my own strategy, I have been doing a lot of testing. IMHO backtesting is only useful to check that the EA actually trades how you want it to in any given scenario, as far as using it to optimize the EA or prove it to be a winning strategy I have found this (at least so far) to be a waste of time.

I can optimize the several EAa I have written to produce $100000s in just weeks on a backtest but have problems getting the same kind of performance when forward testing. Another caveat is getting the same performance that I can get forward testing on a demo account to match forward 'testing' on a live account. I say 'testing' but it is actually trading as I'm using real money! Has anyone else seen this?

I'm sure these are the problems that all the devlopers of these EAs run into and why they finally just try and sell something that can produce loads of cash on a back test rather than trying to trade it themselves!

Anyone on the market for an EA should demand live trading statistics before even considering buying it, even then there is no guarantee that one which has made a profit for a few months will continue to do so!

Incidentally I'm almost ready to release my EA to the people who have already PM'd me wanting to try it out, anyone else out there who wants to be included please PM me your e-mail address and I'll add you to the mail out.

i would like to be included in you mail out as i do enjoy playing and testing with ea's my email address is [email protected] thanks

 

[brian_f1]

As I'm building my own EA at the moment for my own strategy, I have been doing a lot of testing. IMHO backtesting is only useful to check that the EA actually trades how you want it to in any given scenario, as far as using it to optimize the EA or prove it to be a winning strategy I have found this (at least so far) to be a waste of time.

I can optimize the several EAa I have written to produce $100000s in just weeks on a backtest but have problems getting the same kind of performance when forward testing. Another caveat is getting the same performance that I can get forward testing on a demo account to match forward 'testing' on a live account. I say 'testing' but it is actually trading as I'm using real money! Has anyone else seen this?

I'm sure these are the problems that all the devlopers of these EAs run into and why they finally just try and sell something that can produce loads of cash on a back test rather than trying to trade it themselves!

Anyone on the market for an EA should demand live trading statistics before even considering buying it, even then there is no guarantee that one which has made a profit for a few months will continue to do so!

Incidentally I'm almost ready to release my EA to the people who have already PM'd me wanting to try it out, anyone else out there who wants to be included please PM me your e-mail address and I'll add you to the mail out.

:clap:yes please would like to be included thanks

 

[Stu0898]

i would like to be included in you mail out as i do enjoy playing and testing with ea's my email address is [email protected] thanks

No problem, anyone else interested please PM me rather than replying on this thread...

 

[dinos9]

I went trough all those 46 interesting pages.
When I use a new EA I start the standard backtesting procedure, than the forward testing and than the live.
On all those 46 page I have not seen one single trader telling us that he had a positive backtest result with this and that settings. How come? Everybody tried it, no success, but too greedy to accept? What is it, that let us blow up the live account without having a positive backtest?

Hi ex4Ex,

I am not very experienced in forex but I have tried quite a few EA, the majority of them dont work in the long term.

I was testing Maestro for about 3 weeks before I trade live with it. I think I was very lucky that I didnt lose my capital (in fact i did a small profit), I had to close manually many trades as this EA opens similar positions like crazy. If things goes in favor you can make a lot of money in a short period but if goes against you can blow your account.

Some people are trying to use it to trade only with the trend but I am not sure what level of success they have.

If you continue to test it and have a good result please let us know.

Rgds,

dinos9

PS: I have already requested a refund via click bank.

 

[cvh2]

Maestro a scam?

Hello Mindtree,

thanks for the many thoughts. Very wise.

I used Maestro (as well as the Advanced version) for about 50 days, before I asked for a refund. The reason: massive wins in the first couple of days, then huge losses, which outflanked the profit.
Most big losses were generated, when the trades were cut off long before the s/l was reached (most s/l-settings were not reached, even weeks later...).
I tried to contact them several times for assistance/info, but not ones were my emails answered.
To sum it up: after my 1st demo-account was cleared out completely, I gave it another shot, starting my 2nd demo-account (Lotus BSF), untill that was back to zero as well.

My question: are you still using it, and if yes, what is your experience?

Thanks in advance,
Coos
A Dutch guy living in Germany

 

[cvh2]

Maestro - Fabturbo

Hello Mindtree,

I just joined this forum, and I already replied to one of your postings, concerning (Advanced) Maestro.

As far as Fabturbo goes: I am using it since the beginning of January. Using the suggested settings, and applying it to 3 pairs, the Scalper had only 12 trades in 8 weeks, all together. Submitting several tickets to the support-team, didn´t get any answers, neither did writing to their forums. Since I installed the latest version (FT 37), I didn´t have any trades for Scalper at all.

The longterm-version has regular trades (3-4 per week), but the results are not very mindblowing.

Did you change any Scalper-settings to get more frequent trades?

 

[ex4ex]

hello everybody,
@cvh2
12 trades in 8 weeks is not acceptable. How are you going to make money?
If you want to scalp you don´t need an EA. Just put the Bollinger Bands with a stand. dev. of 2 and start trading if the candle moves 2 times out of the Bollinger Band. There should be a recess of 10 to 20 pips, according to the volatility of the underlying pair.
@dinos9
Yesterday I tried for the very last time, but really the very very last time the Maestro. (Actually I should not have done that, as I already asked for a refund) 2 pairs of 0.4 lots in a micro account yesterday produced overnight a drawdown of 2.000 USD in a 5k acc. to end up (1pair) with a profit of 70 $ this morning. Bull-S
To be honest, a machine can milk a cow, but not the forex market. There you should better use your hands. Saludos de Costa Rica!

 

[Ronika]

Hey Tica ex4ex...

My wife's a Tica. Check out this thread here...

Need The Forex Maestro Feedback - ForexForums.org

It's a long read, so if you want, start from page 50. You will find much useful info and you'll see that we are using Firebird, which is what Maestro really is. We are working on a new version to correct the deficiencies of Firebird.

 

[jamestan1978]

Hi there,
was wondering if there is any where in this forum i could find better explaination of the settings terms for the Maestro? like what is MA, MA type and percentage, as the manual is not clear at all.

Thanks so much in advance.
james

 

[ExpertTradingAdvisor]

The problem with maestro is that it uses very bad risk/reward ratio. The target is 26 pips while the stoploss is 300 pips. The system may do well for a while, but then a stoploss comes along and wipes out all your profits.

 

[ultrium3]

Forex maestro sucks

I'M USING FOREX MAESTRO, I CALL IT CRAP, IT SUCKS
ALREADY RUNNING FOR 48 HOURS NO TRADE
SECOND MACHINE RUNNING FOR 40 HOURS TOOK 5 TRADES ALL NEGATIVE

GOOD THING I'M RUNNING IN DEMO.....

IF ANYONE USING "FOREX MAESTRO" PLEASE LET ME KNOW

ULTRIUM3 (AT) GMAIL

THANKS

Don't know why I did it...I bought the Forex Maestro Expert Advisor yesterday...and all the up-sells. So I'm running 3 new systems (Forex Maestro, Advanced Forex Maestro, and the EURGBP Master Robot on four different currency pairs and three different time frames. Of course, with each up-sell came an ever bigger claim for astounding success!

I've been trading these systems for nearly A WHOLE DAY now, and I see it's placed about 250 trades! Wow! This system is on serious steroids! AND SO ARE THE LOSSES! My account has drawn-down (lost, I suspect) 20% already. I'm seriously tempted to reverse the trades...but with this level of trading spread and slippage would destroy me!

Watching this robot demolish my account is mesmerising! Of course it's a demo account...I'm not that dumb!

But look, I can't be the only one! Is anyone having any success with this EA?