Choosing Forex Robots Update: As we indicated in a previous article we searched extensively the internet for sites that test several robots on demo or actual live accounts and based on this research we have purchased
Pips Miner Standard Edition and after that the
Pips Miner Extended Edition.
In this forex robots update we would like to communicate initial results from testing these two versions of this program. We have tested the Standard Edition on demo account and performed well but only for about a week or less. We are testing now both the Standard Edition and the Extended Edition on different live accounts.
As we are testing the Extended Edition, which is more aggressive because it chases after 40-pips gains every time, we have been seeing in the last 3-4 days that it has opened about 6 sell positions in the same vicinity with a wide stop loss and the currency has moved to the other direction and all positions are still open.
Now for 3-4 days we are seeing floating losses, which today increased even more and consumed up the entire margin that was available in the account. Now we are about -$6 in terms of margin and we are facing the risk of receiving a margin call. It should be clarified though that none of these positions has closed yet with any loss and that our equity in this account (which is small and started with $250) is still up by $24.
We have been using the Standard Edition on another $2,000 account and made us about $80 profit in two days, but we are reluctant to let it run completely on auto pilot because we are afraid that we may find ourselves in the situation that we are now in the other account, which uses the Extended Edition and has many open positions that consumed all of our margin triggering the risk of a margin call.
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