The Fish Forex Robot, from Rita Lasker and her team at Green Forex Group, has been around for a while. After a few requests to put it up on the site my curiosity got the better of me.
Fish Forex Robot Essentials:
- Trades EURUSD H1 Chart
- Trades Monday -Thursday
- Uses Fundamental events, that happen every day, to pick entry/exit points
- Includes a nice Hedging or Martingale strategy (I can’t tell which at this stage) to limit losses
- Picks winners about 80% of the time
I’ve already run a couple of back tests and all in all it looks quite robust… As I write this the 10 year test is still churning away. It will be interesting to see what it turns up. Let’s have a look in the lab:
Test 1: Independent Strategy Testing
2000 – 2009 Strategy Test results show growth from $10,000 to $5,504,723 at 99.22% accuracy.
Detailed results not available due to slowness of back test (testing was stopped after 5 days)
2009 Strategy Test results show growth from $10,000 to $11,187 at 82.59% accuracy.
View full 2009 Fish Forex Robot Strategy Tester results
Until 20th August 2010 Strategy Test results show growth from $10,000 to $13,012 at 79.76% accuracy.
View full Jan – Aug 2010 Fish Forex Robot Strategy Tester results
Currently running Fish Forex Robot on Alpari UK, testing started on 23rd August 2010. Current results are as follows:
View our Fish Forex Robot Live Test Statement
Lab Result:
I’m using the exact same broker by the looks of things Alpari UK. The big loss they had is indeed missing from my results above. This may be due to a loss in connection on my MT4 account with the Broker… can be the only explanation (I think).
Fish robot is great. I have been using on live account for last month and provides consistent returns. I think there is a chance it will lose big every so often so its important to hit a profit figure eg. $500 then look to work with this amount and continue to replicate at different risk levels to hedge against the large loss. hope it makes sense, good robot overall with the right strategy
Hi Helrick,
its sounds really good that u have success with this EA on live account…. with how much balance u started to use this Ea?? can u plz give ur account statement on fxbook or at mt4i.com so we can see its performance on live account… i also want to run this Ea on my live account
And also tell about the strategy how to hedge against the big loss of adjustment order??
hi shahbaz
i would put my statement up but wait a little longer until my system is fully proven. My live results are different to the demo results on FFR, trades take place at different times and different directions but the results are the same. In terms of hedging, I set up 4 accounts each with $500. Then run the fish on each for a month with varying risk eg. lot size 0.01, 0.03, 0.05, .07. By rotating the lot size it reduces the risk of the large loss that will happen at some stage. As each account doubles, I replicate again. It is still early days but I think it is a real winner. I will keep you posted.
hi helrick,
any new development regarding to fish forex?? and how ur live account going with it… inform us… and please now put ur live statement on fxbook or mt4i.com…..
so far so good shahbaz, i have been trading it for about 3 months on one account to check it is the real deal.
44 trades, for 38 winners, 6 losers, 180 net pips
I have been conservative around the holiday periods to avoid any inconsistencies in the market.
really sounds great helrick… bcuz i also believe that this ea have very good and most popular forex strategy based on price action and having great entry points…. tell me that r u using it on micro lots on real money account? and also which broker u r using for it and also ur account is ecn or retail? which suits better for this Ea?
.15 lots, so .45 when it uses martingale
gomarkets is my broker, ecn
.15 lots, so .45 when it uses martingale
gomarkets is my broker, ecn, live account
Great, so now a days i also in a search of honest broker, so tell me that hows ur experience with go markets, i heard that they also win award for best broker of Oceania…. hows their ecn perform, and do u totally satisfied with them?
100% happy with them on all accounts.
Hi Cam,
i m disappointed… now tell me other honest and best fx broker u r using and satisfied with them… and Cam u have any ecn account with any broker? who is the best ecn reliable broker in ur opinion??
go markets don’t accept clients from pak
Sorry mate, don’t have an ECN account. Have a look at MB trading though… I’ve heard they are pretty good as an ECN broker.
Hi Cam,
I just purchased the Fish Forex. I have visited your statement on Zulutrade as well. If i trade 0.1 lots and 3X LOT ratio, could you advice me the SL2BUY and SL2SELL you would use ? Would you go ahead with 200 as given in the manual ? What do you use in your own case ?
Do we have to manually stop the trade on friday or does it not trade on fridays at all ?
thanks and take care
Vicaas
Hi Vicaas,
The SL2BUY and SL2SELL are set at 200 as per the manual.
On Friday’s the EA does not trade at all (automatically programmed in).
Good Luck!
hi VIcaas,
just remember that Ea doesn,t trade on friday,but adjustment order can place on friday if Ea lost trade on thursday, go to Stats of fish forex Ea, u can see two adjustment trades there which were placed on friday…. and in my thinking, firday is not a best day for martingale trades like adjustment orders, bcuz of less liquidity and market is highly volatile in fridays…
just get in touch, if u set fish on ur live account and do update us….
Cam,
mb trading offers 50:1 leverage, so tell me any other broker u r using now a days and satisfied?
I’m using 4 on live (Alpari UK, Latitude FX, GoMarkets and AAAFx).
Alpari is the only one that’s acting shady at the moment, MD seems t be closing out trades at huge loss when others are finishing at breakeven.
hI cAM,
lolz…..
I check the latitude fx and it seems interesting… tell me that r u satisfied with their services and are they really STP broker and not a market maker? can they trade against their clients if they want? and with how much balance u started with them….
i asked so many questions like u r a member of their support team
Hi Cam / Shahbaz,
Thanks for the info. I have gone live today on fxpro. Will get back with the results in some time.
take care
Hey Shahbaz,
Latitude, IMHO, are not as good as Go Markets, and there has been the odd requote on manual trades, however it does seem to work well with MD, although it doesn’t pick up as many trades as GO.
I know the founder through a friend of mine who is quite respectable and they are an NZ based company, so I know a few other local traders who use them and are happy (some who have attended their seminars and/or visited their offices)… overall, they are by no means the best broker out there, but they appear to be solid.
Hi Cam/Vicaas,
Really thnx Cam for providing info… i also wana go with go markets but unfortunately they dont accept client from pak
VIcaas, really keen for ur live results… hope u will upgrade us with ur Results and progress with this Ea on live…
Regards…
Cam,
now these are fomc days 25-26 jan 2011…
be careful on trading bcuz last big loss happened due to fomc release….
Cam also tell me that from where i can get information about high impact news means their schedule for 2011… solid forex high impact news calender….
Did anyone actually TRADE fish on demo to see if we occurred any major loss? Wanna make sure on what Rita said about FOMC
Laters
Sorry about the last comment, i only saw AFTER i commented that cams didn’t turn fishy off last night, i thought he MIGHT have hence my comment, why you didn’t turn off cams? Are you turning off the SECOND day?
Sorry bout that guys, have a lot on my plate at the moment and it slipped through.
I’ve turned it off now and set a reminder to turn it on again next week.
Hi Helrick,
i wana watch that what timing for trades it uses on live and some other things so plzzzz put it on my fxbook….
i think u tested enough FFR on live so plz put ur live ecn statement on fxbook… its a request…
and also tell me the precautions which u consider necessary when trade it live… means on which high impact news days i avoid to trade, best days to trade this ea and other stuff…. i really looking for ur help…
Regards,
my friend have almost the same result with Cam, starting from $5000 and after 3 months now its became more than $15.000, and now I’m still working on it on demo acc, if its seem good for me, I hope I can go for live next week..I’m planning to use FXPRO for my broker..
its a good robot, but it hasn’t lot yet, i wonder if it has a couple of bad trades if everyone will speak as highly. so far so good though 54 trades 47 winners and no SL on the martingale, 240 pips in profit since Nov 1, 2010. Live account, no ecn
She made OP yesterday..the result is profit..
I’m just wondering what will happen if she made several loss in a row..
according to my friend, when it’s loss for the second time(in a row), the lot will be back to normal..let see..
don’t know if i understand you duke. cams seems like your demo fish is not trading, my live account is picking up at least one trade a day, is it active?
Yeah, it picked up 10 pips today.
Remember, I turned it off before the weekend to avoid the fomc days.
Hi Cam
Didn’t know where else to put this, so…
I see Rita has launched another 3 robots since Fisher Forex. I assume that you have just not seen enough reason to look at them??
There was
Quattro that traded EUR/USD 15 & 30m, and GBP/USD 15 & 30m
Father Christmas – dont know much except the name
Solomon – claim that at the end of each week it analyses all it’s previous trades and self-corrects based on the analysis.
The last one I find especially interesting since, if the published results are to be believed, the robot actually gets better in 4 consecutive weeks.
Hope you can have a look at it
I do agree with Garry..
I received several email from Rita regarding a new robot that she launched recently..
Just wait for a new review..
Hi Guys,
To give you a quick history… I made a decision not to trial Quattro as some of the feedback coming through wasn’t very good. Didn’t hear about the Father Christmas EA and did recently hear about Solomon (have it on my “to check” list). I’ll let you know what I decide to do with FC and Solomon.
Ok, here’s a question that might put a LOT of people off this bot, unless someone can give good answer, perhaps Cams can mail Rita and ask her, I’ve tried but I’m not sure if they understand my q.
I’ve seen this bot go about 2 weeks on one trade (and it was one of those recovery trades where botty lost and then it triples its lot size to recover), what IF one of these situations happen again and FOMC report is just around the corner, you CAN’T exactly turn the EA off because it’s ALREADY IN a trade lol. Rita and co says I must just close the open trade but I dunno, if it’s in huge dd already? might hit SL??? I dunno Cams, what you think???
Cheers
This is the reason I think Fish won’t make it to Graduate status. There is always that uncertainty that comes with the recovery trade. Just have a look at the back tests above and you can see how it affects things.
Hi Cam,
this is the most consistent session by fish forex Ea since the demo testing start on ur site… 31 consecutive wins in a row…. is their any special reason for it Cam’s or is it just EUR/Usd perform well as strong pair in Jan/Feb?? its also indicates again that strategy this bot use is really well and their is just one losing factor in this EA that is its recovery trade due to uncertainty…. whats ur views cam
You are right… But my views above still remain.
I think the best way to attack fish would be by expecting a potential account blowout. So you would start with a relatively small account, say $500, and risk enough to make 100% profit over a few months. Then take your profit out and start again. Eventually fish will either continue it’s good form or blow your $500 account. Meaning you’ll lose $500 but have made $500 or $5000 or more. The only risk is that it blows your account on you first attempt at $500.
My 2 cents
Cam,
if we apply some money management on it and simply rotate the size of lots continuously bcuz its win percentage is high so we can use higher lots on $500 account… if it lose any trade than maximize the risk on normal trade, not on recovery trade…. like forex megadroid… than u can earn some bucks… although this is high risk… or another option is that change the recovery trade stoploss to 50…. bcuz if u view its drawdowns in zulutrade than u can see that 95 percent of time, it takes low draw down under 50 pips….. in this case ur whole account couldn,t blow out…. but their is a chance that it hits 50 pips stop on adjustment order some times…..
Cam tell me that which type of money management is best suitable for fish???
Both our approaches are high risk. Regarding MM, it really depends on how much risk the individual is willing to take in order to reach the 100% mark quickly, as the risk of ruin will be much greater if you want to get their quicker… it really needs to be worked out by the individual.
Just wondering if you have a different view on things considering the recent losing trade?
sir
is fish forex robot works in 4 digit only or 5 digit.
Hi Naniq,
I understood it was both, but you would be better off checking with their support.
Cheers
Has anyone tried the “new and improved” 4G Version of FishForex (no comments on FPA)
…Or any of the other products on her site?