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
Hi guys, anybody still using forex steam ea’s updated version? any good/bad experiences yet? thanks
Hello Thami
They are a scam. They use mt4i ea to upload their results. So they only upload ever 4 days and remove the 90 pip stop loss trades. Its fake. Stay away. They won’t let a 3rd party confirm their results or give you investor password for their demo account to see the true results.
Nobody has made profit on live accounts.
Always hitting losses
Regards
Walter
I swear the stupid babbling of uninformed newbies. MT4i or MT4Live published statements cannot be faked or later deleted to only show trades you want. All you need to do is actually use them yourself to see this is the case. If they are coming from the publisher’s websites, they are real. If they are static web html republishings, it could be fake but not if they are being published live. Plenty of people are making profits with this EA including myself. And 100% of their published trades are real for it completely matches up with mine. So, one thing is clear, you are using pure crap broker service!!! Or you have some bizarre ulterior motive for coming on forums and lying. And I won’t let any dumbass my investor password either. With bunch of assholes running around and I have some obligation to give them my investor password? Why? When it is so easy to verify that the trades are real yourself? Unless of course you are imbeciles which I suspect is the case.
I stand to disagree with you on that. 1st, they running that account on a forex.com DEMO account. The demo account feed and live account feed is not the same. I opened real accounts with the brokers they advised. And the trades are not identical. Proof is in real money trading. Not fantasy money. The only person looking like an idiot is you. Because you cannot put your mouth where your money is because you afraid to show investor password because you not making real money. What have you got to hide. The truth hurts. Forex steam does not make the money on live real money accounts as they claim on demo.
Wake up you idiot.
Jonny, do you want to bet $100 that it IS possible to alter results on mt4i and mt4live?
Hi Guys, I noticed the exchange of opinion here and thought I would help to clarify. The debate on Steams ‘published results’ and those of some traders , has always been a topic of conflict/discussion. What Steam say is shown below – taken from their FAQ page. Basically what it means is new traders haven’t the collected the history data and their trades may/will differ in the short term, and the longer a person trades the closer the results will be to matching theirs. Please see below.
—————-
• Why are some of my trades different from the published results?
The EA gathers live data and stores all the history it can. The longer you run our systems the closer the results will resemble ours.
—————-
I am not promoting Steam by the way. Merely pointing out something which may clear up possible reasons for people getting different results.
I have been running Forex Steam on a live FXCM account for last 6 months and my account is gradually being depleted…
http://www.mt4i.com/users/weavil/stats
How much history data do I need to collect?
Hi Weavil, data collection – i havent a clue – it was just a possible explanation for varying results – that they mentioned in their FAQ area. You can still collect data by testing on demo I’m sure? – why not do that and protect your live account. I actually had a lot of success with Steam – not Christmas gone but one before..in fact it was the 2nd best EA i’d ever used – (the first was a martingale one which doesnt perform well in todays market conditions so I won’t mention it) – but then as I have always said it has great periods and then periods when it literally goes to hell? I bored of it actually. But if you have purchased it and too late for a refund then why not put it on demo and test it that way. It can still collect data on demo if its the same broker you use for demo and live? – Failing that – pose the question to the vendor – after all – its on their FAQ page so sure he can answer questions on it
but I would take it off live trading until you see good results on demo. It’s never a good idea to rush trading an EA on live account – although I fully understand the wish to make money asap 
– Good luck.
I warned a long time ago that vendor of this EA deletes bad trades.
Hi Joao – That is a line of thinking that a lot of people have expressed over time, and the question of bad trades deleted (which is possible) and other possible reasons for varying results, argument continues. I guess we’ll never know for sure? I have made money on it in the past (v. good money) so would like to think there is a logical answer. I think the poor periods where trades go to hell have increased tho, and the upgrades haven’t shown me anything to make me want to rush back to it – but I do test in the background on demo when a new version is released. I live in hope of the glory days it once gave me