Forex Autobot

I’ve developed a forex trading algorithm which I’ve called the Forex Auto-bot.  I’ll come up with some witty name for it in the future, but for now that’s the name we are going with.

The purpose of the bot is to make money.   Plain and simple.

My goal over the coming months is to make the bot available for other people once I am satisfied is is stable and generates consistent profits.

Here are the key points on the bot and what you need to know:

LIVE TRADING – As of right now (May 25) the bot is running on a single, live trading account.  I have funded this account and am waiting to see how it performs over the next few weeks.   On a demo account it performed very well, however the spread on a live account is usually larger so I need time to verify it will still be profitable.

MINIMUM INVESTMENT – You will need a minimum of $1,000 in your brokerage account with at least 20x margin (50x margin is strongly preferred).

BROKER COMPATABILITY – The bot currently is setup to work on OandA.   While it should work fine on other brokers (as it’s written in MQL and powered by Metatrader 4), I cannot promise it will work on other brokers for the time being and have no immediate plans to verify it working on others.   This is something I plan to do in the future.

INITIAL PROFITABILITY – When the bot first starts up I guarantee it will lose money on the first few orders it places.   I will not go into the specifics on why this happens, just that it does.   Usually it will place 1-2 bad orders on each pair before it starts to place profitable trades.   My attempts to rectify this have failed so far (there is a way to prevent it, however it causes other issues with the logic of the bot).  Usually these initial orders will lose by about 10-20 pips each.

PROFITABILITY – After those first few trades are out of the way, the bot will see a typical profit of 20 – 60 pips per trade.   Sometimes it does much more (highest profit trade to date is 140 pips).  Thus, you should be breaking-even once it’s on it’s 3rd round of trading and then you should be making a profit from there.

TIMEFRAME – The bot swing trades, which means each order can last from a few hours to several days.

NO GUARANTEE – I make absolutely no guarantee of profit if you want to us this bot.  It has taken months of coding to get it to where it is and I cannot say with 100% certainty that it will make money for you.

TRADES ON YOUR ACCOUNT – The bot connects to your OandA account and trades on your behalf.  This presents a few issues that you need to be aware of:

  1. Me nor the bot will never have the ability to withdraw money from your forex account.   To my knowledge this is not possible in the API coding and I never intend to push for that capability.
  2. The bot will execute live trades on your account.   As such, I request you dedicate a subaccount in your OandA account just for the bot to use.  You do not place orders or do anything with the orders that the bot creates – if you start messing with this account it can completely derail your profits that the bot generates.
  3. If you ever wish to stop the bot from working on your trading account, you simply need to change the password on the subaccount in your OandA subaccount administration panel (takes about 5 seconds to do this).   Or simply notify me and I will turn the bot off on our end.

I AM NOT CERTIFIED – I need to be 100% crystal clear here – I am not certified, licensed, or in any other way able to make investment decisions as a professional.   You accept the risk of running the bot and the risk of being in forex.  You will be required to sign a release which indemnifies me before you will have the bot working on your account.

PROFITS GROW OVER TIME – When the bot first activates it trades with 0.01 lot sizes.  As time goes on this increases to 0.02 and then 0.03 and so on.  So at first it may seem like you are only making $5 per trade, however that will grow very quickly over time as the bot is running.   This is done on purpose and I will not change this growth curve on your account, do not ask to have the bot activated with 1 lot order sizes it will not happen.

COST OF INFRASTRUCTURE – There is no additional cost to you.  The service fee includes the resources needed to run the bot on your account – each client gets a bot setup on Amazon AWS.  No, you will not have access to the bot at all.

COST OF SERVICE – The pricing for the bot is simple – 30% of the realized profits from each calendar month.   If, for example, the bot makes you $500 profit in a calendar month you will be expected to pay $500 x 30% = $150 for the service fees for that month.   You will be notified by me what your fee is by the 5th of each month.  Failure to make the payment by the 15th of the month will result in the immediate termination of your trading bot and you will be banned from the service in the future.

BETA PHASE – The bot is currently in a beta state, which means it is buggy and doesn’t work 100% as it’s intended.  I am working diligently to make it work better.  However I am only taking on a limited number of people as I try to push it from beta to release status.

If you are still interested at this point, then please join our private Facebook group to keep updated on this project.