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:
4 positive user reviews 
0 negative user reviews.
Hi Cams,
About TIME!
Who you using for broker?? or do you have a few going? (who’s the one for THIS bot?)
Yeah, finally got it up.
It’s running on Alpari UK above.
Nonamebot will be the next cab off the rank.
i am SERIOUSLY exited about THAT one (nn)
how often is fish updating 15 mins??
It updates every 10 mins.
Note, from what I’ve read, it should trade at about 3pm NYT.
Hey, hey, hey??? See, what did I tell ya! This robot basically NEVER loses, in fact it carries ON like this so if one is following this robot and it DOES lose, be sure your lot to be TRIPLED to pick up the slack again, I’m actually GLAD the first trade was a loss just to show how this robot works, it’s amAZING
so flip, which ones’ it gonna be Cams, no name or fish, the competition is gonna be STIFF
I think NoName may take this one out… the back tests look more solid. I put it on my live account today to test the waters and it came away break even after a few hours. Will try and get it on the site tonight.
Fish looks solid over the past year, but there were some big losses in the 10 year back test that kept it from growing exponentially. That’s why I have my reservations.
Let’s wait and see!!
In all is history that you backtestd have you ever seen it lose twice in a row??
I’m afraid I can’t answer that because the 10yr test didn’t complete. Looking at the chart above it doesn’t look like there were two losers in a row. But it’s difficult to gauge anyway because of the martingale type system. If it loses on the normal trade and then loses on the increased risk trade that mitigates the original loss then all the big dips in the chart are when it loses twice.
Why are you interested in this aspect?
No, the reason why i ask is IF there WERE two loses somewhere it would mean SERIOUS, SERIOUS loss and it would be OBVIOUS in the backtest anyway. Besides, if Rita’s robot lost twice in a row it would mean that the robot is no good because it actually TRIPLES the last lot size which means a LOOOOOOT of catching up to do
so far it doesn’t seem like it HAS THAT kind of characteristic??? It actually brings the user some relief because at LEAST they KNOW that after a loss that there’s gains up the road 
not like other robots where if there ARE more than one loss in a row you DON’T KNOW where you actually STAND, hope this makes sense. This is what makes this robot so good so far. Rita is actually taking a HUGE CHANCE by tripling her next lot size (to try make up for last loss) which is STILL fine 
she’s kind of putting herSELF at risk here and if it DOES take double loss then the robot actually contraDICTS itself because from the backtests it DOES SHOW multiple losses sure but if double loss shows that robot is comPLELTY and absolutely unreliable beCAUSE of this huge risk that Rita is putting herself on too. Sure Fish has had big loses Means she’ll immediately start losing customers 
***End of fish*** and you know what? I’m not sure if you got Rita’s mail about her NEXT bot which is coming out, according to her this one is even BETTER than fish! (I’m not delving too much on THAT one because you probably got the mail on that one)
Yeah, she mentioned there was a new development in the pipeline.
do you hear about the signal provider from ” winners edge training” bz I want to try this service,they claim that they had a proven system with easy to follow rules and also aadvance tracking software tarde on track.can you please comment or you had did the back test?
I had sign up free trials on fxstreet ,there had the live trading room sometime is usefull and some time I could not get what they mean,thus end up with loss trade,they also provide the software call ” autochartist ” which i try to read and for a week i still not family with this software.
they also provide the 4cast again what i feel same like the live trading,some time i get it on trend and some time not.please comment?
you reply is highly appreciated
tq
Hi Yeoh,
Sorry, I haven’t had any experience with ‘winners edge’. Maybe if you post your comment in my facebook group some other members can help?
Hi Cam,
i need some help, i wanna ask that if i use fish forex robot on my $300 account… then what is the best lot size for me to trade and also for adjustment orders ….. that i will not recive margin call…
you reply is highly appreciated…..
Hi Shahbaz,
Here’s what they say in the manual:
“LotRatio – the ratio of Initial and Adjustment orders. With the setting of 1 – the
volume of Adjustment order will be equivalent with the volume of Initial order. With
the setting of 5 – the volume of Adjustment order will be 5x than the volume of Initial
order.
Note: Be careful. Increasing the size of the first lot will maximize your profit, but small
initial deposits (up to $200–300) also increase the risk of financial losses during the
execution of the adjustment order.”
So, it’s not impossible to run this on a $300 account but it looks like you’d need to be careful about what you set as your Lot Ratio. My test above is set to 3, so the initial order is 0.5 Lots and the Adjustment is 1.5 Lots. If you had a $300 account you could use minimum risk setting 0.01 Lots which would mean 0.03 Lots as the adjustment. Or keep the LotRatio at 1 and your adjustment would be 0.01 Lots… Looking at the backtests your equity curve wouldn’t be as upward pointing though because you would only offset the loss somewhat.
Hope this helps!
Cams,
any reason why you reset? wasn’t it running right or what?
Sorry about that. Because it’s a new month, if I forget to set ‘Show all history’ on the MT4 account, it defaults to the current months data. It should start showing the history again in a few minutes.
hi Cam,
hope u will add this soon…
Plz add this ea also to zulu trade… bcuz this is nice ea to follow
Will do!
See, see, what did I tell ya?
so far so good, Cams, the more I’m looking at nn, the worse it’s getting
What would my NewYorkShift settings be for liteforex (broker) with GMT offset of 3?
Thank You
Hi Craig,
Yes, NoName isn’t performing at all… however, I think there is something seriously wrong with the test… but need more time to work out the problem. The big clue is that it’s trading at the wrong time of the day!!
Hi Ely,
I’m not a liteforex member… I know Craig is. Craig are you able to help Ely out?
Hi Eli,
Look, I’m not expert when it comes to forex (yet) but it seems like Lite isn’t performing well at moment with fapturbo, it’s still doing fine with Megadroid though (it seems like when mega loses EVERYONE loses so to me it seems like THERE it doesn’t matter which broker you use). Fap seems to be more broker sensitive. Concerning your question about GMT? What you COULD do is google gmt and check time difference to where you are (South Africa is +3). It also depends what EA you using a lot of them have GMT auto set to true so you don’t have to worry about time zone difference. Cams, maybe you can help me too here, ECN or NON ECN it seems like the markets aren’t in very good mood lately, they BOTH seem to be losing. I have also been having a chat to the guys at FXCBS who CLAIM to be THE BEST and fap also recommends them, I’m busy demoing as we speak (end of this week is 2 weeks so still too early to say) but the EUR/CHF pair just hit SL bringing account WAY down, but one of the pair hit SL before and the week wasn’t even over yet and the – was caught up again so it’s looking good
Eli, to tell you the truth if you want to set GMT + 3 in New York, you would definitely get wrong tradings times so bad idea. I don’t know what GMT is for New York, google GMT and work it out from there, but I find fapturbo works it out automatically
Shahbaz,
I’ve just added it to Zulutrade for you.
hi Cam,
this is the support which every one wants from professional forex traders….
thnx so much….
hi Cam,
i want to know about iamfx forex broker…. what is the rating or credibility of this broker in fx market… how are the ea performances with this broker…
oh hey CAMS, Rita’s green bot is out now hey which is another one you can get
Thanks for the notice. I’ll see if it looks worthwhile testing.
Now tell me if THIS is interesting or not!! Other day i asked the guys at FXCBS that IF a robot is performing well with a broker like Alpari which is a good broker (you using them as well as others online) then SURELY the robot that IS performing would more than likely perform with THEIR feeds because they claim they’re ALSO good (feeds are raw?) so LOGICALLY since the feeds are good the robot SHOULD perform well on BOTH brokers (actually ANY good broker for that fact??) I don’t know where to put this for EVERYONE to see but i think it’s a very good point?
Yeah, it is a good point. You could start a new topic about it in my new facebook group (link at top of page). To see what others think.
yeah Cam, rita lasker’s green bot is out now and seems that its is performing good on fxtrading reviews demo account. NO loss and 3 wins in a row… but i think it is quite early to say something about this robot until optimizing a long test of it…and other thing which seems to be interesting is that robot using nice strategy to enter into a trade…
okkeeeeey (shahbaz->exit strategy)
well cams, hope you catch the hint, we all rooting you buy greeny too
did you notice fish didn’t trade last night? fxtrading did, perhaps there’s a resetting that’s needed again from your side????
later
I’ve checked settings and all looks good. I noticed my MT4 lost its connection last night several times, this may be the reason. I couldn’t find the Green bot link easily, can one of you please send it to me. Ta!
Hi Cam. I see Rita is advertising her new “Green Forex Robot”. Since Fish Forex seems to be doing OK so far, any chance you will be looking at her new offering?
http://www.greenforexkit.com/
Cams, could you send direct link for fish on zulu like you did with FBP
Here you go: http://www.forexreviewsrated.com/go/zulutrade-fish.php
hi Cam,
i wanna know about “iamfx forex broker”.. what is the ratings for this broker…. is it equally good as alpari uk??? bcuz it also gives free vps service on live accounts….. and alpari do not offer it….
From what I’ve heard, they are pretty good. I’m on the verge of opening an account of my own with them. One thing to note is that you need to trade about 5 Lots per month to get the free VPS.
Hi Cam,
which vps service u use for ur ea’s… and which one is the best vps service?
I use SWVPS, has been fine for me and I’m thrashing it as you can imagine!
So…what you think of my taste in bots so far cams
even green seems to be doing well so far hey 
have you had any feedback from Rita concerning its backtesting yet?
So far so good indeed!
I’ve flicked Rita a note but no word from her yet.
HI CAM,
how u survived from big loss made by fish on fxtradingreviews.com and forexrobotstest.com live accounts…. both are using alpari uk same broker as u used…. fish loss its adjustment order trade and made 200 pips loss which is so big due to large lot size used by these websites….. the main thing is that fish open its adjustment order on friday and all we know that friday is the worst day to trade bcuz it is so unpredictable day….. but fish didn’t trade on ur live account on friday? have u settled ur ea to not to trade on fridays??? or there any other reason???
waiting for ur reply….
Hi Shahbaz,
Very strange. I can’t see the loss on fxtradingreviews.com but can see it on the other site. When I compare statements it gets even stranger. I missed the last two fish trades placed last week (the big loss you talk about and the trade the day before – according to the other site), so I immediately thought the MT4 must have gone down at the end of the week, however, I then looked through his history and saw that some days that mine traded his didn’t and then some were exactly the same.
I can only conclude that he is using a slightly different MT4 demo account, or that the load on the PC prevents some trades from triggering. I’m stumped!
Regardless, this big loss does concur with what we see in the back tests above. However, there may be a case to turn Fish off on Friday’s.
Cams,
Could you turn Friday trading OFF and see what happens (perhaps this could be a trick to a good robot?)
CAM,
and Cam contact rita lasker and asked about that issue and see what she says about it ( i think there is still need to upgrade and fix some bugs in this ea)
whats ur opinion why fish lost its adjustment order trade bcuz it opened it on friday? if u turn of ur ea on fridays then perhaps it will be working ( as craig said)
hi cam,
did rita release update of fish forex ea? she promised to many customers that her team will fix all bugs in next update which will release soon…
Nope. I’m waiting on one of her engineers to get back to me on green bot backtest results at the moment.
Hi guys,
Cam, I have been following fxreviews? Not sure if you get his weekly newsletter but it seems there is a news release that happens 8 times a year called the FOMC statement which SEEMS (according to fish) REALLY moves the market, I might be wrong that it’s news release but it seems Cams that if you can disable this bot during THIS time this bot can be one SERIOUS BOT!!!!! Just thought i might let y’all know about this
hi guys,
yeah craig u r right… fomc have the potential to move the market in big means…. the next timing for this report are as follows…
September 21-23 2010
November 2-3 2010
December 14-15 2010
so be careful to turn of the ea during these dates…
regards…..
I’ve set a calendar reminder to turn it off on these dates. Let’s see if we can avoid a disaster.
Shahbaz,
thanks, two questions for you are these the same days every YEAR and are both days mentioned included? (meaning you turn OFF the bot on 21st sept and you turn bot on again 24 sept-example)
Hi Craig,
yeah it is the fact that fomc is high imapct report… yeah when it mention 21-23 its mean in all three days from 21-23 market can volatile heavily…so its better to to turn off Ea in these dates bcuz less but profitable trading is better than much lossing tardes… and in reply to ur second question, no there are always different dates… there is schedule for next year 2011 meeting is available on site… http://www.federalreserve.gov/monetarypolicy/fomccalendars.htm
Regards….
Hi Shahbaz,
These dates that are given does the FOMC statement come out on these specific dates EVERY YEAR or is it on various days every year, also are both days inclusive (turn off 21 Sept, turn on 24 Sept)
Thanks
thanks for help Shahbaz, i do however have question concerning these dates, I see sept has only ONE day where as you mentioned THREE days, what gives with that?
Thanks
Hi Craig,
yeah sept has only one day, i mentioned wrongly three days… and in regarding to ur questions fomc come out on diff dates every year but good thing is that next one year dates is giving on their site… and in my thinking its not just bcuz of fomc, fish lost adjustment order, its also bcuz fish opened its adjustment order on friday and on friday, market is unpredictable….
so what you’re saying then is don’t trade fridays and don’t trade on fomc news?
Cams, what YOU think of this?
yeah exactly, bcuz martingale type strategy never suits friday… bcuz it is the closing day of market… don’t trade on fomc and on fridays, than i think this will be a good Ea….
CAM,
any update of fish forex released after fomc loss happened to fish? on which date its last update is released? and what about “fish forex 2″ do u know any thing about it?
Sorry mate, there’s a slow response coming from Rita, only received notification that Fish 2 will be arriving late Nov and to watch out for it. I’m trying to get a copy to run on the site.
hi Cam,
cam are u actually using any Ea on ur real live money account? or any manual system which u find profitable in live trading??
Yes, I’m using MegaDroid (hence the “green tick” and it residing in the Graduates section). All other EAs I’ve run on live have been turned off at some point because either I didn’t like the strategy (e.g. Robominer) or it didn’t work well (e.g. Brilliance).
I don’t have a lot of time to manual trade but when I do I use a system from the Surefire Trading Challenge combined with my own trading knowledge.
what broker you are using for this? compare to this statement http://fxtradingreviews.com/mt4stats/fish-forex-robot/statement.htm it look far different from your result.