Finally! a no hype forex robot: Forex Lexus

Hi Guys,

Forex Lexus , Maybe one or two of you allready have been hearing about it, I also told about it in my Fapturbo thread.. I have finally found a Forex Robot seller that is REALLY honest about how his EA works.. Sometimes it wins sometimes it looses, that is just the way Forex trading works! The difficult thing about trading is that you win more then you loose, well, Forex Lexus , will do just that, on the website you will see its goal is to win 10-20% a month, which is very reasonable and sustainable for forex, and at least 50 times better then a savings account with your bank. However when cranking up the risk just a little bit, higher gains are possible.

The seller is just a normal guy that has put his manual system he follows, which appears to be very simple, into a a working Metatrader4 expert advisor.

It is different from manay EA's out there that are based on scalping for a large number of small winners.. Sometimes these robots seem to work fine, but we all have seen that once the stop loss is hit, most of the time these small winning trades are not enough to recover from such a stop loss. Also Fapturbo has difficulties these days to come out at break even, at least my account does.

The Forex Lexus robots are based on intraday swing trading. they discover trends, and then open trades that follow the indicated trend. So it does not trade so often like Fapturbo, but none the less you can have one or two trades every day. Another thing is that it allows tading during the whole day, so 24/5.. which also increases the chances of opening profittable trades. Scalpers most of the time trade only a few hours a day during the quiet Asian session, for example.

Actually Forex Lexus provides not one, but 3 expert advisors, each of which has its own settings. One on USDJPY, one low risk on GBPUSD and one High risk on GBPUSD.

What is so nice with this robot, and a very important reason for me to get Forex Lexus myself, is that he will send you an updtaed version every month, so the robots are allways suited to the current market conditions. This is very important, we all know that most robots may work a little bit for a while and then start draining money like a leaking sewer!! That is because most robots are suited to a particular market condition, but we all know market conditions change, and change fast sometimes. If necessary Forex Lexus will send out a message with adjusted settings to keep the robots profittable. By the way, product support is excellent with this guy, he will respond to whatever questions you throw at him within 24 hours, he is very open and to the point, and tells you like it is, also open for sugestions to improve his robots.

My live account is now running Forex Lexus ea's on USDJPY and high risk GBPUSD, and also still Fapturbo. My account has been refunded (again, last week I tried manual trading, which did not work.. of course.. PLEASE NOTE that ALL trades of 24/09/09 to 25/09/09 were MANUAL trades) so you can see how it goes.

From this date(26/09/09) forward All USDJPY and GBPUSD trades will be made by Forex Lexus . (USDCAD and EURCHF trades are made by Fapturbo). Forex Lexus settings are at default, with low risk (only 0.05 lots per trade)

http://www.mt4stats.com/sig1/jltadawulfxlive.gif

So when you are burned by all these hyped up forex websites, doing nothing then scalping YOU from your money, Forex Lexus might be the robot you were looking for.

Forex Lexus in a nutshell:
- No Hype, the website tells you like it is.
- Goal: 10-20% a month, higher gains possible when setting the risk a little higher.
- The creator of the robot is using Forex Lexus himself on a daily basis, and showing it on his website
- Monthly updated, so allways suited to the current market conditions
- excellent product support, will send emails with adjusted settings if required.
- No Scalper, but swing trade for less trades but higher gains.
- Works with every broker, spread is not really an issue.
- Compliant with new NFA rules (no hedging, FIFO is applied)
- Drawdown is limited, when market goes against the trade, it will setlle for a small loss.
- easy to install
- easy to setup, only a few settings to be taken care off.
- Set and forget: Once a month, install, check settings and let it trade automatically.

So follow the link in my signature to go to the website, or just forllow the direct buy link here when you want to purchase:

Buy Forex lexus here!

Ok, that is it for now, I will update this thread with news about forex lexus and how it goes with my account on a weekly basis.

If you have any questions, please do not hesitate to reply here, or send me a PM.

Thanks.. and...

Ok what's better to convince people that Forex Lexus is a goo robot..

RESULTS.. and because I do not have them yet (just started) here some forward LIVE trading stats of the owner/developper of Forex Lexus..

$$$ 57.74% in September, first month $$$

Compare with my stats (see link previous post, and you will see I have EXACTLY the same open trades on GBPUSD at the moment.. This proves we a are dealing with the same EA... I get really exited when I see that chart :-)


Click on the links in my signature for more info.

Hi Guys,

Forex Lexus had some mixed results last week, there were some nice winners in GBPUSD, but some losses as well, all in all ended the week with more then $100 loss for forex lexus, which is about 150-180 pips (0.05 lots = 56 cents per pip in usdjpy, about 83 cents in gbpusd) usdjpy did a little better then the week before, but still ended in a loss of $12 (23 pips).

I discussed the issue with the forex lexus developper and he recognizes the problems I pointed out at him and is working on improvement. Next week he will issue a Trade duplicator, which will duplicate HIS Alpari UK trades into my Tadawul account, I expect that will improve my results significantly, however he suffered losses the last week as well, but ended the month of septemper with 54% winning rate, which is a very good result bearing in mind he is looking for only 10-20%

Beside this I have done some manual trading again, using support and resistance lines which can be drawn in the charts.. I learned about that after watching a vidoe from Deam Saunders on this subject (The LMT guy), and really seems to work great! I also took adavantage of some violent break outs in gbpusd and eurchf, and traded the pull back that is allways happening after a large break out, especially the eurchf pull back trade on wednessday worked out very well, I opened the trade at the right moment and closed the trade at absolutely the maximum possible.

All in all my manual trades were good for +$111.. not bad I would say! I will continue to trade manually when I see opportunities with these support and resistance lines

Fapturbo had a bad week as well, see my "watch it from the start.." thread on this forum.

Hi guys,

Trading has been going OK this week, except fro one big loss in USDJPY, wil report about that more when the week has closed.

For now I have an important announcement for people still scratching their chin wether to buy this robot or not.. from now on MY trades are no longer valid, you just have to check out the stats of Lexxus themselves to see what you might get, because the EA has drstically changed into a TRADE DUPLICATOR... Yes that's right.. it will DUPLICATE Lexxus' own Alpari UK trades into YOUR MT4 platform, not matter who the broker is.

Alpari is doing quite a bit better then Tadawul at the moment.

The stand alone EA is no longer available.. beside that the price will go up after the weekend AND

A limited number of licences will be available!, so if you do not want to miss this great robot, you should hurry.


Forex Lexus in a nutshell:
- No Hype, the website tells you like it is.
- Goal: 10-20% a month, higher gains possible when setting the risk a little higher (Septermber in the end 52% on default low risk settings!)
- The creator of the robot is using Forex Lexus himself and will COPY his trades into your MT4 platform of the broker of your choice
- This is about what you might expect, see the STATISTICS HERE.
- UPDATES no longer required, Lexxus will keep his trading as good as possible and copy his trades into your broker's MT4 platform.
- excellent product support, will send improved EA if required (will not happen often from now on, with the stand alone he updated allmost weekly!).
- No Scalper, but swing trade for less trades but higher gains.
- Works with every broker, spread is not really an issue.
- Compliant with new NFA rules (no hedging)
- Drawdown is limited, when market goes against the trade, it will setlle for a small loss.
- easy to install
- easy to setup, only a few settings to be taken care off.
- Set and forget: Set it up once, and let it ride along with Forex Lexxus' trades!

So follow the link in my signature to go to the website, or just forllow the direct buy link here when you want to purchase:

Buy Forex lexus here!

If you have any questions, please do not hesitate to reply here, or send me a PM.

Thanks, see you all later.[/QUOTE]

Hi guys,

Here a little more on how my account has performed last week.

Lexxus has been doing pretty well this week!

Lexxus trades went up $27.26 which is a gain of about 5%
the GBPUSD did best with $24.00, USDJPY suffered a big loss and none the less gained $3.26.. Note I use only 0.05 lots per pip, so this was again of 54 pips.

Fapturbo did bad again, with a loss of -$5.84 on USDCAD (9 pips).. quite some trades compared to the weeks before but did hit a stop loss. I have reduced the risk though by setting it to trade 0.05 lots in stead of 0.1

I have turned off EURCHF, due to the very small range it is trading lately (sometimes a range of less then 10 pips) and allways slightly trending up or down the same time, so when a trade is opened it never gets to the take profit which is small allready. Also the eurchf does some weard break outs now and then making it hit stop losses quite frequently the last few weeks... It is responsible for most of the losses I had the weeks before, so it is no longer responsible to keep eurchf in the portfolio.

I had three manual trades in USDJPY and two of them were profittable one ended in a loss due to a spike and hit the stop loss I had set a bit too sharp, in the end it was good for a small gain of $1.16. One hanging trade at a loss of $5.57.. I have good hopes it will go into profit on monday, because it seems a little oversold earlier last week and still in its pull back move.

All in all my account gained $22.58 a little more then 4.0%

Finally, you may notice two small losses on usdjpy and gbpusd yesterday, these were due to a signal test of lexxus trade duplicator, it shows it does work as intended.. This tests were notified well in advance, and you could choose to let it pass by, so it was no surprize it happened.

Ok that was it for this week, I hope that the duplicator will show its promisses next week..

Note that the price of Lexxus will go up after the weekend, and that there will be a limited number of licenses available.. All I can say that this is no hype, Malai, the owner of Lexxus, never has lied to us, and allways does what he says! He raised the price before as announced exactly the days before that happened. See the links in my signature

Hi Guys, I am so exited I just had to tell you this!

A great day for Lexxus today!

The new trade duplicator works fine, within just a few pips I had the same trades as showing in the Alpari UK live stats on the front page of the Lexxus website. And it were great trades!. the HR (high Risk) version of the GBPUSD EA openes two trades, one with Take profit at 50 and one with take profit at 75, both with a trailing stop of 30 pips.

It opened long trades at the right moment today just at the beginning of an up trend as it should be, it followed the trend untill the first trade was closed near its take profit with 67 pips profit! (0.05 lots= $33.50) the second Lexxus trade closed due to hitting the trailing stop with 61 Pips profit after the trend stopped and started to pull back sharply and now moving somewhat sideways still around that same level..

So that was 128 pips by Lexxus today !

But that was not all!.. I also had opened a long trade about 10 pips lower then Lexus did the evening before, using the support and resistance lines theory.. Because as well as in in the M15 chart as the daily and H4 chart this strong support level was there. It has been below this level all morning making me think I had made a bad decision by opening that manual trade in GBPUSD, but halfway the afternoon it turned around and indeed did what was expected.. pull back sharply after a long choppy downward trend the days before. My manual trade pulled out 72 Pips, good for another $36.00 profit.

Ha! this makes me feel gooood to have such a good day! 200 pips in one day (..ok, 177, I had a loosing USDJPY last night and a loosing USDCAD as well).. A little more then $100 gain today, which is about 18%.

Lets hope the week continues like this, at least GBPUSD seems to be trending nicely and predictable, so Lexxus can pick them up sharply, I will add some manual trades again when I see the opportunities.. I really get the feeling I am getting it, these support and resistance lines work great! My manual trades made me more the last two weeks then Lexxus and Fapturbo together (except today, Lexxus was super!)

Talk to you later guys, have a pip filled day!.. and...

Oops...

After reading my own post I see there is a mistake.. A trade can never close above 50 pips when the take profit is set to 50 pips, right? So I checked the settings again.. the high Take profit is at 100 Pips and the lower at 75, so I mixed that up, sorry about that.

This means Lexxus closed one trade before the take profit was hit, it certainly did not hit the trailing stop, accidently I was watching this trade when it suddenly closed at 67 pips.. This must be due to the Lexxus server allready hit the take profit and sending the signal to my platform to close the trade. Just 7 pips difference, well within the slippage that has been set to 10 pips.

Hi guys,

Here the weekly update of my forexlexxus trades.

Forexlexxus did fine last week, it made just a few trades, and came out very positive with a win of about 128 pips. GBPUSD had some very good trades and ran a nice uptrend, USDJPY had a few small losses but allso one big winner so it came out allmost break even (39 cents loss)

Malai has now removed the JPY from the standard duplicator because of the poor performace of the last few weeks, so you will see GBPUSD trades only from now on.

But unless the very positive start of this week, I had a loosing week in the end .. and that is because of my manual trades in GBPUSD. I followed the forex news and all anticipated a pull back after the big up going trend at the beginning of the week, but that did not happen, everytime I thougt it had hit a resistance line, it did break through that resistance line continueing the uptrend, so my sell trades hit a stop loss a few times.

But this makes the chance that it happens the coming week considerably larger, so I have now two open sell trades, right at the top of this uptrend of last week. And all signs are there that it will reverse. M15 shows a strong wedge, H4 shows that it has hit the upper resistance line and should start reversing at any time now. Forex news tells us that gbp is grossly overbought at the moment.. So I am pretty confident it will recover next week and the open trades I have right now may start running a big and sharp downward trend and recover my losses and maybe more.

In case the uptrend continues I have opened a pending order to make sure if that happens, it will catch the continuing uptrend.. Some think that when it breaks the 1.6400 barrier it will continue the uptrend for quite some pips.

Fapturbo did bad again, I will remove Fap until the next update comes out because it is not working anymore, market condition have changed, during the asian session, the fap currencies hardly move and most of the time slightly trending so fap opens trades at the wrong time and never recover and hit SL, or take ages to get to the TP.

Hey fellas,

I just found out that the guys at forex-robots: http://www.forex-robots.com, are testing the Forex Lexus on their Real Money Accounts. The robot is winning money, but not too much, its scarcely trading but at least now we can monitor its performance from a neutral point of view.

Samuel Bruce

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

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.

Quote:

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Originally Posted by justlooking

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

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That would be 100% in a month?!







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Quote:

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Originally Posted by rcfx

That would be 100% in a month?!

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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

Quote:

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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

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Quote:

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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

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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!!

Quote:

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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!!

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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.

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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.