Forex Steam Light is the offshot of the core product Forex Steam. It is proving to be the better of the two in live tests and hence the reason for it being added the Forex Lab below.
Forex Steam Light Essentials
- EURUSD M5Chart
- 10 pip take profit
- 90 pip stop loss (not fixed)
- Adjustable Settings (TP, SL and others)
- Money Management Options (Fixed Lots or Percent)
To the lab we go…
Test 1: Independent Strategy Testing
2005 Strategy Test results using Lots fixed at 0.1.
View full 2005 Strategy Tester results
2006 Strategy Test results using Lots fixed at 0.1.
View full 2006 Strategy Tester results
2007 Strategy Test results using Lots fixed at 0.1.
View full 2007 Strategy Tester results
2008 Strategy Test results using Lots fixed at 0.1.
View full 2008 Strategy Tester results
2009 Strategy Test results using Lots fixed at 0.1.
View full 2009 Strategy Tester results
2010 (Until Nov 18th) Strategy Test results using Lots fixed at 0.1.
View full 2010 Strategy Tester results
Currently running Forex Steam Light on Alpari UK, testing started on 19th December 2010. Using Lots fixed at 0.3. Current results are as follows:
View our Forex Steam Light Live Test Statement
Lab Result:
I have wondered for a long time whether mt4live is foolproof.
Here it is:
Someone (presumably the Vendor) uploads http://forexsteamtest2.mt4live.com, but does not show it on website. This statement shows trade by trade.
Vendor shows http://forexsteamtestlight.mt4live.com on website without the losing trade on November 25th.
The key is here: on 11/24 the first statement shows ticket # 3340051. The same number appears on the second statement. Therefore, they are coming from the same MT4 terminal account.
Then, the next trade (big loss on 11/25) is omitted from the second statement. How clever. If you don’t like the trade just delete!
Note: I suspect these folks are the same ones manipulating FapUltra2010.mt4live.com to show superb results (two times better than independent tests). Go figure. Please prove me wrong and I’ll hurry to buy both EA’s (Fapultra and ForexSteam) to make an ultra-steam account capable of getting rid of losses after the fact.
Good
I asked for a refund – which they GARANTEE on their website. They just don`t respond !
the result published at the forexSteam website doesn’t match with the real live trading. My account has suffered a lost (same as admin account) but I din’t see any lost in the forexSteam account. Looks like they are doing some trick on it.
They delete losing trades before submitting the statement to mt4live. What a joke.
Manfred, get your reciept of purchase from RegNow and process your refund with them, it takes 4 to 5 days, good luck, let’s know how you go, Brian
Once I saw these reviews and the questions regarding the accuracy of their reporting – I decided to quickly ask for a refund. They did in fact refund my money – so thank you for your review of this ea.
I had fantastic results on Steam before xmas and then it dived to hell… I contacted the seller and he advised some people were still getting good results hence why his upgrade hadnt been sent out yet – but to look forward to it in a couple of weeks… Since then – Steam has settled down again and for me is again producing some good consistent results… 3-4 good trades per day. Although it did always tend to have a loss every 4-5 trades – but the bigger picture always ended up in credit afterwards – apart from xmas and new year when it went crazy. I keep a 30 pip stop loss on it to minimise my losses – cant recall if CAM advised that or if I read it elsewhere – but it keeps my nerves in tact limiting any potentially sky-high drawdowns. I still rate it – highly – although keep a keen eye on it to ensure it doesnt do another xmas/new year dive again. When the upgrade comes out – I will test on demo first to ensure it performs better than the current version
they tell you not to trade on holidays, any holidays
Hi Cam.
Forex Steam has Updated their systems to V3 from 1/5/2011, have you?
Yes, updated at the same time, i.e. when the Expired EA message kept popping up.
Looks like it was doing better prior to the update.
They say on their website: DON’T trade on ANY holiday. maybe that was why you experienced that xmas thing.
Been using this one for a while , but I’m not sure yet. Tried mixing with the setup but now going default. but Im not sure yet as I said
Its a scam….they don’t post losing trades….asked for refund….no answer…..run for your life
Just a wee update – the new version of Steam has been doing very well indeed… 20 wins – 1 loss…. It was on a serious roll. As I always say – it has very good periods then at times goes to hell – so anyone using it exercise caution now. This was on par to my trading last year – made good notes before December – and luckily banked them – then erratic period from early December (so just before holiday season) right the way through January. On the subject of holidays – Steam have advised it is probably best to shut it down now for the next couple of weeks and added that they thought times are going to get erratic – so take note and bank your winnings if you were in – and if you weren’t – well – just hold fire on trading for now
This Forex Steam is just the old dragon pips ea that has been renamed and is the same owner.
They say open a live account with forex.com and fxdd.
I opened an account with both.
I lost $2600 on my first trade it hit the 90 pip stop loss on both real live account money. When I looked at their update, they never hit the same stop loss.
They showing results on “FANTASY”money that means nothing.
I have an EA that can turn $500 into $10 000 in one week on demo account… but means nothing when you go live.
Its time we see live updates with withdrawal of funds so we no they are for real.
No more hype.
I would suggest you be careful with forex steam.
I wonder if market makers pay the owners of these robots a commision when their robots lose us money to them.
Walter – South Africa
Disapointed – Rating – ZERO