Thread: Finally! a no hype forex robot: Forex Lexus

Hi guys,

I just received the Lexus News letter, and past week has been very impressive for the standard Lexus duplicator (at the moment not able to purchase a subscription, because Malai first wanted to 'repair' the ea, so it wont get these terrible losses again... and right now that seems to have worked out!).

Lexus HR did make 248 pips!! (or +25% account growth in one week!)
LEX gained 245 Pips!! (or 16% account growth)

Malai also told us that he had done backtesting and the filters he added seem to do the job to reduce the losses effectively.

So next year I will turn this robot on again (I will use LEX), and see what happens :-)

The Prolexus ea did not trade at all (this is a very conservative EA)

Note that on that site of Samual, only PROlexus is tested.

Originally Posted by justlooking

Hi guys,
Lexus HR did make 248 pips!! (or +25% account growth in one week!)

That would be 100% in a month?!

Originally Posted by rcfx

That would be 100% in a month?!

Not really :)

Lexus aims for 20% a month.. this was just a very good week. In the beginning of december it had some very bad days with big losses, but it allmost won these all back in one week.

Because of these losses, the sales of this standard lexus system was stopped, right now only the pro version in on sale at the lexus website. This one also does quite well, but with small secure gains, and very little drawdown.

Lots

Originally Posted by justlooking

Hi all,

Thanks Samual, for sharing this unbiased testing website. You will see that the results are similare, or at least very close to what is on the lexus website.

Lexus owners have passed a very deep dip beginning of december, when loss after loss had to be swallowed. Myself included.

But lets hope it goes better again next year.

I have now switched over to lexuspro myself and use the medium risk settings.

BTW, this robot is a duplicator, so a server at forexlexus runs the ea, and whenever there is a trade, this is duplicated to the mt platforms of the lexus customers who are running the duplicator. Works pretty well right now after some hickups in the beginning.

Lots

Originally Posted by justlooking

Hi all,

Thanks Samual, for sharing this unbiased testing website. You will see that the results are similare, or at least very close to what is on the lexus website.

Lexus owners have passed a very deep dip beginning of december, when loss after loss had to be swallowed. Myself included.

But lets hope it goes better again next year.

I have now switched over to lexuspro myself and use the medium risk settings.

BTW, this robot is a duplicator, so a server at forexlexus runs the ea, and whenever there is a trade, this is duplicated to the mt platforms of the lexus customers who are running the duplicator. Works pretty well right now after some hickups in the beginning.

Lots

Hey,

I just checked the http://www.forex-robots.com competition and the Lexus made another couple of good traders, altough I'm not sure why it is using such small lot sizes.

I ask them, and they told me it was due to the fact that the settings are the the developer recommended ones.

Have any of you experienced success with the Lexus and bigger lot sizes? switching the MM off?

Rgds

I think you need some education on moneymanagement... :-)

It is recommended that you RISK no more then 5% of your account size per trade, the size of the lots you trade are then dependant on the stop loss value.

example: If you have an account of $1000.- then 5% of that is $50, so your risk may not be bigger then $50.. if you use a stop of 100 pips on a trade, your lot size should be $50/100 = $0.50.. so if you trade eurusd, this means a lot size of 0.05

If you use a stop of 50, the risk should be the same, 5%, so then you can trade a lot size of 0.1

In Lexus this calculation is done for you, by setting the MoneyManagement at True. So when the account grows, the lot sizes will gradually grow as well, same if your accounts get smaller after a loss, then the lot sizes get smaller..

So lot size is dependant on the size of your account and the risk you are willing to take.

I have a small acount of about $500. To have it grow a little faster I am willing to take a risk of 10% per trade at the moment, but once I have doubled my account, I will reduce the risk to 5%, and if that has grown to $10.000 (could take a year or more), I will reduce it even more.

Lots

Ha! telling you all about RISK management, I discoverd this week, ForexLexus uses another defenition of risk then I do!!

The website states not to risk more then 5% of your account, I asumed this was the potential loss as explaned in my previous post...

But in fact this 5% was that it takes 5% of the account equity to trade with PER TRADE.. potential loss was FOUR TIMES HIGHER, a whopping 20% PER TRADE !! so if you know it opens TWO trades each time (this is in fact a good strategy, the first trade takes quick profit and then the second is moved to break even).. risk when MM set to 5% in the EA is in fact 40% !!

Because I THOUGHT the potential loss was 5% tohether with both trades, I felt comfortable to double the risk to 10% to let my tiny account grow a little quicker.. by doing so I increased my risk to a whopping 80% !!

And you know, these kind of mistakes you discover when something bad happens.. and something bad happenmed last monday..

Monday, all safety filters failed because of the volatile market (normal after the holidays) and because of the 80% risk I found out Lexuspro was at a huge drawdown when I checked monday late afternoon.. just minutes later due to margin call the first trade was closed with 142 pips !! The second trade was closed at 200 pips loss!!

In ONE set of trades by LexusProMR, I lost $362 of my $442 I started with this year allmost 80% lost in one go... I can tell ya, this was a very very bad experience!

Lesson learned: Never ever asume the risk stated by an EA is indeed the risk of potential loss... CALCULATE your risk ALSO when using EA's and make sure not more is risked then you are willing to loose.

I will not stop using the EA, because it has shown a very good record of winning trades since November. LexusPRO has a winning rate of 96%..but I will adjust the settings so it will not open two trades and risk is more in line with my account size. Developper Malai has now also adjusted the emergency stop loss from 200 pips to 75 pips, to prevent such big losses in the furture. Malai had a very good explanation why it had hit the emergency stop loss, and that it is not very probable it will happen again soon.

Account balance was at $80 last monday, but with manual trading I have been able to bring it back to $134 on Thursday. None the less I have to be very carefull in decidung which trades to open.. Only the very probable and low risk trades I will take.

Upwards and Onwards!!

Originally Posted by justlooking

Ha! telling you all about RISK management, I discoverd this week, ForexLexus uses another defenition of risk then I do!!

The website states not to risk more then 5% of your account, I asumed this was the potential loss as explaned in my previous post...

But in fact this 5% was that it takes 5% of the account equity to trade with PER TRADE.. potential loss was FOUR TIMES HIGHER, a whopping 20% PER TRADE !! so if you know it opens TWO trades each time (this is in fact a good strategy, the first trade takes quick profit and then the second is moved to break even).. risk when MM set to 5% in the EA is in fact 40% !!

Because I THOUGHT the potential loss was 5% tohether with both trades, I felt comfortable to double the risk to 10% to let my tiny account grow a little quicker.. by doing so I increased my risk to a whopping 80% !!

And you know, these kind of mistakes you discover when something bad happens.. and something bad happenmed last monday..

Monday, all safety filters failed because of the volatile market (normal after the holidays) and because of the 80% risk I found out Lexuspro was at a huge drawdown when I checked monday late afternoon.. just minutes later due to margin call the first trade was closed with 142 pips !! The second trade was closed at 200 pips loss!!

In ONE set of trades by LexusProMR, I lost $362 of my $442 I started with this year allmost 80% lost in one go... I can tell ya, this was a very very bad experience!

Lesson learned: Never ever asume the risk stated by an EA is indeed the risk of potential loss... CALCULATE your risk ALSO when using EA's and make sure not more is risked then you are willing to loose.

I will not stop using the EA, because it has shown a very good record of winning trades since November. LexusPRO has a winning rate of 96%..but I will adjust the settings so it will not open two trades and risk is more in line with my account size. Developper Malai has now also adjusted the emergency stop loss from 200 pips to 75 pips, to prevent such big losses in the furture. Malai had a very good explanation why it had hit the emergency stop loss, and that it is not very probable it will happen again soon.

Account balance was at $80 last monday, but with manual trading I have been able to bring it back to $134 on Thursday. None the less I have to be very carefull in decidung which trades to open.. Only the very probable and low risk trades I will take.

Upwards and Onwards!!

Thanks for the info.

I also noticed the same by looking at the real money account test at http://www.forex-robots.com , it has a lost more than 5% of equity on some doubled trades.

Forex trading is difficult but with the help of this website you will be able to choose a Forex Robot or Expert Advisor that meets your needs and helps you earn money with automated currency trading.For more information.http://www.best4xrobots.com

Honestly I don’t even remember how much money people have lost with robots and just my friend lost over 1-2k due to robots, so I have completely given up on using of robots and now I just do manual trading in which I feel really happy due to the support and encouragement that I receive from my broker OctaFX, it has special 50% bonus on deposit which can be used by all and allows me to work really easily which is better than robots.