Forex Maestro

[mindtree]

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?

 

[mindtree]

I think I found my problem...my account has an extra decimal - it's a 6 digit account. Of course the manual(s) give advice about how to compensate for this...I'd read it as 6 decimal places, rather than 6 digits. My bad. I'm looking forward to seeing what this EA can really do now!

 

[trailingedge]

Dont be embarrassed...just yet

I think I found my problem...my account has an extra decimal - it's a 6 digit account. Of course the manual(s) give advice about how to compensate for this...I'd read it as 6 decimal places, rather than 6 digits. My bad. I'm looking forward to seeing what this EA can really do now!

Hi mindtree, I also took the plunge. I figured I have 60 days to play around with it (EA of course)
I have a small account so I have started at 0.01 of a lot size. Not a loss as yet out of 7 trades after 15 hrs...forward testing time will tell.

I have a question for you. Have you found any forums on the Maestro and their settings?

Its just I'm not that good with the strategy tester and im not sure how to optimise it.

Im trading live on the 4 currencies suggested, M5.

I have the Increment Type paramater set from 0 to 0.01. Do you think im correct in assuming that after a pipstep of 30 another 0.01 of a lot will open?

Best of luck...If I hear back fm you I'll keep you up to date with my live results.

regards.

 

[smokey22]

Hi mindtree, I also took the plunge. I figured I have 60 days to play around with it (EA of course)
I have a small account so I have started at 0.01 of a lot size. Not a loss as yet out of 7 trades after 15 hrs...forward testing time will tell.

I have a question for you. Have you found any forums on the Maestro and their settings?

Its just I'm not that good with the strategy tester and im not sure how to optimise it.

Im trading live on the 4 currencies suggested, M5.

I have the Increment Type paramater set from 0 to 0.01. Do you think im correct in assuming that after a pipstep of 30 another 0.01 of a lot will open?





Hi guys,

I also have Maestro trading on the 4 currancies, Maestro has not placed any orders in 6 hours I was on line. I have everything in order to the manual, but no trades. I have sent an email to there support, still no reply. Has anyone receive a reply to a responce? or are just suckers for forex sales hype.

Cheers
Smokey22

 

[trailingedge]

Hi mindtree, I also took the plunge. I figured I have 60 days to play around with it (EA of course)
I have a small account so I have started at 0.01 of a lot size. Not a loss as yet out of 7 trades after 15 hrs...forward testing time will tell.

I have a question for you. Have you found any forums on the Maestro and their settings?

Its just I'm not that good with the strategy tester and im not sure how to optimise it.

Im trading live on the 4 currencies suggested, M5.

I have the Increment Type paramater set from 0 to 0.01. Do you think im correct in assuming that after a pipstep of 30 another 0.01 of a lot will open?


Hi guys,

I also have Maestro trading on the 4 currancies, Maestro has not placed any orders in 6 hours I was on line. I have everything in order to the manual, but no trades. I have sent an email to there support, still no reply. Has anyone receive a reply to a responce? or are just suckers for forex sales hype.

Cheers
Smokey22

Not sure what your doing wrong Smokey22...I've had 10 closing trades all positive in the last 24 hrs, no losses and currently 6 are open...(4 in the last hour)...

 

[smokey22]

Thanks for your reply,

I will try again tomorow and see if Maestro will start up. I find the 300 stop loss is huge, might as well have stop loss set as open... Maybe its just me, I will have my eyes open untill I see this working in real time.

Smokey22
Melbourne Australia

 

[Dan S]

And all of you just found t2w in the past 3 weeks?

 

[rwgold]

Forex Maestro.......So far a fantastic performer

Howdy all,

I am up at least 1000 pips running Maestro exactly as it came ouf of the box.

I have it running on all four recommended pairs on two time frames, 5M and 15M.

It has been running for 45 hours on 5M TF and 37 hours on 15M TF.

My net profit after deducting any negative amounts from still open trades was at least 1000 pips the last time I checked both TF's.

I have about 50 closed winning trades with no losers and some still open in minus that I have taken into account to arrive at my 1000 pip net winnings.

Make certain that you have the proper setup in Tools/Options/ Expert Advisors checked as they are slightly different than in most other EA's. Just do it exactly as it is indicated in the accompanying Maestro instruction pdf.

I hope the rest of you will continue to keep this thread posted as to your results.

Rico

 

[trailingedge]

Hey

rwgold, thanks for your input.

Wondering if you noticed my earlier question...re the increasment type paramater. Have you altered that from the defult zero?

just for interest sake, i'v managed to gain apprx 390 pips, zero losses so far M5 only.

regards,

Howdy all,

I am up at least 1000 pips running Maestro exactly as it came ouf of the box.

I have it running on all four recommended pairs on two time frames, 5M and 15M.

It has been running for 45 hours on 5M TF and 37 hours on 15M TF.

My net profit after deducting any negative amounts from still open trades was at least 1000 pips the last time I checked both TF's.

I have about 50 closed winning trades with no losers and some still open in minus that I have taken into account to arrive at my 1000 pip net winnings.

Make certain that you have the proper setup in Tools/Options/ Expert Advisors checked as they are slightly different than in most other EA's. Just do it exactly as it is indicated in the accompanying Maestro instruction pdf.

I hope the rest of you will continue to keep this thread posted as to your results.

Rico

 

[smokey22]

rwgold, thanks for your input.

Wondering if you noticed my earlier question...re the increasment type paramater. Have you altered that from the defult zero?

just for interest sake, i'v managed to gain apprx 390 pips, zero losses so far M5 only.

regards,

I'm still having trouble getting this maestro to fire up, no trades. Have checked all settings again by the manual again settings are ok. I have many EA and are very familiar on there workings and this one is no different in set up requirement. Maybe I will have to try another broker.

Cheers
Smokey22

 

[rwgold]

No changes made.

rwgold, thanks for your input.

Wondering if you noticed my earlier question...re the increasment type paramater. Have you altered that from the defult zero?

just for interest sake, i'v managed to gain apprx 390 pips, zero losses so far M5 only.

regards,

Trailingedge,

I made no change at all to EA. I am running it exactly as I downloaded it.

Rico

 

[rwgold]

Slight difference in setup

I'm still having trouble getting this maestro to fire up, no trades. Have checked all settings again by the manual again settings are ok. I have many EA and are very familiar on there workings and this one is no different in set up requirement. Maybe I will have to try another broker.

Cheers
Smokey22

Smokey22,

The difference in this and most EA's is in regard to "Allow DLL Imports" which is almost always checked with other EA's and in this case with Maestro is NOT according to the pdf manual.

I have it unchecked and in my case Maestro is running flawlesly and has been from when I first installed and set it up.

One other thing, make certain that you have the latest build of Metatrader4.

Rico

 

[smokey22]

Smokey22,

The difference in this and most EA's is in regard to "Allow DLL Imports" which is almost always checked with other EA's and in this case with Maestro is NOT according to the pdf manual.

I have it unchecked and in my case Maestro is running flawlesly and has been from when I first installed and set it up.

One other thing, make certain that you have the latest build of Metatrader4.

Rico

Hi Rico,

Thank-you for your comments, my MT4 was downloaded yesterday so I should be running the latest version. My setup is by the book and have the latest Maestro-2 up date. Have been running for another 6 hours no trades, I have a Maestro face on my screen, so I don't think I'm doing a lot wrong.

Smokey22

 

[trailingedge]

Maestro forums

Hi Maestro fans and those not so happy yet...

Still wondering if there is another info forum on this EA. I have been searching but to no avail...

I have noticed that when a trade is made, and then goes the opposite direction, another trade opens up at the nominated pip stop setting. Ok following me so far...
Now when the price eventually turns and the second of the orders price limit is reached, only that order is closed, and not the first (original). I would have thought that the combined open orders would have been closed at that point (sort of like a martingale system)...
Am I correct in what i see?

regards.

 

[mindtree]

Just thought I'd update: On my demo account - you know, the one I reported had drawn down 20% - now that I've got the set-up correct, I'm back up to where I started.

It's tempting to breath a sigh of relief, but actually the story is a little more interesting than that: When it was broken (my fault) it was broken horribly and it tore into my account like a hot sharp knife through soft butter. Now it's working...and it's made back my losses in the same short order...I have to say that's pretty exciting!

My next question: Some of the wins have been pretty small...so slippage may become an issue when I go live. Is anyone running this on a LIVE account and winning?

Hi Trailingedge - I couldn't find such a forum, although I got the idea that there would be one for owners from somewhere. That's why I started this thread...

 

[mindtree]

Been lurking...

And all of you just found t2w in the past 3 weeks?

I've been lurking for a while - it might say Rookie, but I'm not really new to trading. I took a break for a few years while I was doing professional work.

 

[mindtree]

Maybe...

I'm still having trouble getting this maestro to fire up, no trades. Have checked all settings again by the manual again settings are ok. I have many EA and are very familiar on there workings and this one is no different in set up requirement. Maybe I will have to try another broker.

Cheers
Smokey22

Maybe check your settings under 'Tools - Options - Expert Advisors'.

 

[smokey22]

Maybe check your settings under 'Tools - Options - Expert Advisors'.

Hi,
Still have no luck with trade opening ---- Tools -Options - Expert been there eveythings ok Screen looks fine too

smokey22

 

[smokey22]

Hi,
Still have no luck with trade opening ---- Tools -Options - Expert been there eveythings ok Screen looks fine too

smokey22

View attachment 49180

Hi guys,

Check this chart out, a traders dream trade.
Short when stochastic is 80 or above
Long when stochastic is 20 or below

smokey22

 

[rwgold]

Update on end of week results week #1 for Maestro

:

Hi,
Still have no luck with trade opening ---- Tools -Options - Expert been there eveythings ok Screen looks fine too

smokey22

View attachment 49180

Howdy All,

I just wanted to report my results using Maestro for my first week now that the week has ended.

I fired up Maestro at 2:00 PM EST (New York time) on Tuesday Feb. 17, 2009 for the first time on all four of the recommended pairs on a 5M TF.

At 4PM today Fri. Feb 20, 2009 I stood at a total gain of 800 pips. This includes the total profit (1200 pips) from all the closed trades and as well as the loss (400 pips) showing from the trades still open.

At 10PM EST on Tuesday Feb. 17, 2009 I opened Maestro on another machine again with all four recommended pairs on the 15M TF.

As of 4 PM this afternoon that account was up 400 pips in closed trades and in the hole 400 pips on my still open trades for a net of zero.

So at this point I am very pleased overall with Maestro and it appears that it is best used on the 5M TF.

It is too early to tell for certain as a lot of things could happen into the future and only time will tell.

Just so I clear 500 pips a week I will be happy. On full contracts that's $5000 a week which is a nice piece of change particularly when I don't even have to look at my computer all week to see what is happening. And this was just over 3.5 days of trading, not even the full 5 day week.

Rico