Don Steinitz Forex Robot Trader

Filed Under (EA System) by Casey on 03-02-2009

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I bought this EA on the 24 April 2008. I bought it because there was a huge and interesting review on ForexPeaceArmy.com

Most reviews were very interesting positive. So I went to the site and found that there were great support, forum, contact, videos were great. And the explaination about how the robot work were also explained. The reason why I bought it was because it reminded me about a book I read ‘Trading for A Living ‘ by Dr Alexander Elder . In his book he mention a strategy about viewing 3 different timeframe window or the ‘Three Screen’ strategy.

MTF Forex Robot Trader using the same analogy filtering through different timeframe and taking position base on the direction the main trend that is is moving towards. Don Steinitz’s strategy is obviously more complicated than that.

When I say complicated I really do mean complicated. It is not exactly a set and forget strategy. Even though he does mention you can set it and forget it. His robot has a lot of parameters which you can tweak but of course he does not advice you to do so. It is more for professionals who want to optimizes his robot further.

For a beginner like me, I tweaked it. I tweaked it in a way because it was confusing in the first place for me. And that is what happenned when you tweak with something you don’t understand and go live with it… Ok… that was history before the dumb dumb post got about… :)

Anyhoo…. I am down $500 with MTF Forex Trader… after 9 months. (Click here to view my statement) So sad…

But I do not want to give up on this robot just yet. This robot requires a lot of reading on his sites. This robot is not about setting it and forgetting it like FAP Turbo… This EA needs you to learn and understand what exactly or how exactly this robot works.

I hope to do that…. soon…. :)

Really need to get this robot in the profitable mode before I start looking at any other EA…