Why Ivy-Bot Currency Trading System is so Powerful??
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This post looks like an over hyped commercial for the IvyBot automated trading system so I feel obliged to add this post based on some actual experience with it.
A trading friend of mine recently bought Ivy Bot. We have been discussing and evaluating its performance and shortcomings.
The reason this bot has the potential to show so much profit is because it takes huge, high risk position sizes. For example it will take a 1-lot position on a $2500 account.
The vendors claim this bot has an incredibly high win rate but this has not been born out by my friend’s experience. It appears to use large internal stops which we worked out to be about 150 pips. This accounts for the high percentage win ratio but as any trading system designer can tell you, there is no free lunch available from very large or no stop losses. Eventually you will loose big time and it will wipe out your earnings and possibly a lot of your account as well. This is what happened to my friend after only a couple of weeks trading.
Other criticisms are a lack of money management facilities for anyone who would like to try and trade this bot in a sane way and its inability to handle currency pairs with 5 decimal places (3 in the case of JPY pairs), which more and more brokers are now offering.
The Ivy Bot people claim that top gun MT4 programmers wrote this program. Just these above two issues alone don’t lend any credibility to that claim.
So come on guys, cut out the bullshit and put some efforts into fixing up the basics so that IvyBot can be traded and evaluated by reasonable people. If people want to use it as a high risk gambling machine that is fine with me, but it shouldn’t be the only mode of operation.
If some of these little problems were fixed up, IvyBot might turn out to be quite a good product.
Compared to some of the utter rubbish being offered for sale out there, that wouldn’t be all that hard to achieve. There are free bots available on this and other Forex forums that will do as well or better than most of the commercial rubbish.
One of the problems is that bots are marketed to the naïve and gullible. Automated trading is a reality but the development and profitable use of these powerful tools remains a skill and to some extent an art in the hands of those who know how to do it well.
Tim Wilson
- the Ivy-Bot team was actively adjusting the system to the most current market conditions.
Interesting info Tim, however, I'm not convinced that getting a handle on risk and digits will turn this into a durable/flexible product.
The reason is that when I read the above, I think one thing. Over-fitting.
CB
Interesting info Tim, however, I'm not convinced that getting a handle on risk and digits will turn this into a durable/flexible product.
The reason is that when I read the above, I think one thing. Over-fitting.
CB
You could be right CB.
I did say "might" :)
It looks like these IvyBot guys are doing thier own optimisation and downloading parameters to the bot on a regular basis but just how good the
underlying product is, is difficult to determine.
None of these bot sellers ever seem to provide what you need to properly evaluate their products for yourself but then I suppose 99%
of their customers probably wouldn't even know how to go about it.
Sites like http://arachnode.net/blogs/arachnode_net/archive/2009/06/11/top-performing-expert-advisors.aspx
which list and make an attempt to evaluate some of the free bots that are available are a lot more interesting to me than the usually overhyped commercial offerings with code you can't even look at.
Regards
Tim
The challenges facing currency trading are being answered by only one software in this planet. The Ivy-Bot. The Ivy-Bot trading Robot is built to make money no matter whatever way the market turns. While many of the other systems were blowing out accounts, the Ivy-Bot team was actively adjusting the system to the most current market conditions. IvyBot is not just the only robot that gives you unlimited updates and a separate robot for each currency pair, IvyBot is hands down the most profitable Forex trading robot ever created! IvyBot has been back tested, optimized, and forward tested to do one thing, MAKE MONEY! http://ivy-bot.weebly.com/
Since the introduction of the first automated trader, the market has
been swamped with these technological wonders. Now, brokers rely on
them heavily. The Ivybot is one such trader. Over the years, Ivybot and
other similar programs have become indispensable in foreign exchange
trade.
Ivybot is a forex robot which was created by Ivy league
graduates. This was how it got its name, Ivy (for Ivy league) bot (for
robot). The software enables you to trade in a simple and easy way.
Albeit uncomplicated to operate, it uses a sophisticated set of
mathematical assumptions that will increase your chances of wins
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