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Anyone already tried this EA? Please comment
Have been running the EA for four days. Had four trades, three winners and one loser. The loss was $22 and the gain was $220.So far so good. Am running on demo account.
This was not a good week for the Quantum FX Bot. I bought it two weeks ago.
Also the http://www.mt4i.com/users/quantumfxbot has stopped publishing the trade statements (since Monday). I asked Paul if there is any information about the results of this week, so maybe it is a setting of the Bot. I want to compare it with Pauls statements. I placed this info also on other blogs, but it seems all critical reviews will be deleted. Very scary. Not fair to delete other opinions than positive.
Update: (positive!)
I have got answer from Paul about not updating the mt4i.com trade statements & the bad profit of the Bot last week:
From Paul:
“Market behaved unexpectedly this week, it is not representative of Quantum Fx Bot’s performance. The risk has to be low and match the account balance to ensure a long term and steady account growth, especially when the account is small. There’s been a temporary tehcnical issue with the MT4 page, I’ll fix this and will upload the updated statement that will automatically update future trades too.
”
It is very good to have such an honest reply from the maker of the bot himself. I have a very good feeling about the bot after this answer.
Here are last weeks results. 6 winners and 1 loss. It looks like the winners all closed from fifty one dollars to eighty dollars. My gain was $370.00 and my only loss was $22.00.I have two pending orders and they are both in the plus.
@Adam: Unfortunately I guess that depends on the broker and spread. My broker has a spread of 3 pips and this results in other trading decisions. I had no luck with the bot. all trades at a loss. I use the default settings, including money management. I opened also another account on a broker with < 2 pips spread, but this broker (MB Trading) does not supports expiration of orders. And that is required by the bot. Actually it is good that the bot use expiration on orders, because else pending orders keep stay in your terminal. And that is dangerous.
Hi Michael could you share what broker you are using for this bot? Anyone know what broker is being used for the account that is published on the site?
I am using this bot unsuccessfully on http://www.markets.com
On MB Trading the bot does not work because MB Trading does not support expiration of orders. I am also happy to know on what brokers this bot actually works
Looking at http://www.mt4i.com/users/quantumfxbot I see one very suspicious thing: The bot NEVER trades on Fridays!
Please check it yourself. And also after the 2011/06/15 date it never has traded on Fridays!
I dont understand what can be suspicious with a bot not trading on Friday? How risky could a trade me carried over the weekend with the opening gap ..I’d be pleased to hear that – not class it as suspicious???
@john
Sorry, I used the wrong words for it. It is not the best day for automatic trading, with lots of economic news. You are right.
Well, only running it three days and in robot time that’s nothing at all…
And as we know robots can double our account and then lose everything in a week.
But seems stable and even intelligent! so far…
This day the QuantumFxBot made a big mistake trading the EURUSD short. All the profit of the past month reversed in a loss. This was an exception I hope.
Yes, it did that to me too. Lost all profits from quite a few days in five minutes. And it seems oh so cautious normally… It’s tough in robot world sometimes. Paul Morton said that was a loss recovery strategy which didn’t work that day but it was rare that it would happen that way. I’m wishing that strategy wasn’t built in but sticking with quantum for now.
Plenty of ACTION today resulting in overall losses. Fun but not profitable. Well, i do hope this decides to go well but at the moment it’s looking like a refund at some point, even though it has a reasonable track record. Anyway another month to run it…
i have been using this EA for more than a month. the first 5 trades were perfect. i just sent a thanks mail to the customer service but then the both started to make losing trades and given all the profits back plus some more from my starting money. i still use it and i hope to see some improvement on win/lose ratio. the bot sets equal SL and TP each trade.. so if it can make %60 win/lose ratio i can consider it successful on the long run..
I have been patient with this but not been rewarded. Maybe it would show a profit some months. But not in my trial! In 7 weeks it has lost 15% of the account. So asking for a refund….
@ Adam, nice trading.. may I ask what broker do you use? and what’s the update regarding this EA..