I looked at that thread and it didn't say anything about Maestro. People were criticizing another EA. Are you sure that's the right link?
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Well, it did not take long... but I have definitive proof that ForexMaextro is not only a fake but a scam. It is another attempt at selling a lifted code using the result of the real actual EA robbing the work of the actual programmer/creator. Look what I found on the MetaQuotes forum itself. Here is the link to MetaQuotes forum. USDCAD TERMINATOR 99.51% wins from 2003 - 2008 - MQL4 forum
Anyone touting this 'forex maestro' is NOT TO BE TRUSTED...
I looked at that thread and it didn't say anything about Maestro. People were criticizing another EA. Are you sure that's the right link?
How come people don't look and think?
It is NOT talking about Maestro but if you look closely,
Maestro copied that EA verbatim including the backtesting
results exactly. Look at that and then look at the Maestro
sales page. And the owner of that EA himself stated publicly
that Maestro is a copy of his EA. And look at the dates of
those threads. It all occurred before Maestro hit the
ClickBank market so why would they even mention Maestro?
I couldn't believe that the Maestro marketer copied his
backtesting result as his own income. It's beyond unbelievable
gall in my view. Pathetic is more like it. Look at it again.
2482968.57 Gross profit - this is the gross profit in that demo test.
It is not Maestro marketer's personal income using Maestro. It actually
is a figure coming from USD/CAD Terminator EA's IBFX demo run.
This guy that created the usdcad terminator apparently has made a couple of million bucks with it. That's plenty of money, and also he has had plenty of time to go to a good lawyer and get a judge to sign a cease and desist order to protect his interests in this matter. Apparently he hasn't done so. I heard about before it came out. Personally I wouldn't trust anyone in this business, not even the brokers, so what's new? There's been many a good EA that have come out that produced similar results, where the creators have only asked for donations, or FREE. I only trust the code, and if it's viable. That's all we should care about. These EA's are locked so there's no way we can decipher the truth as to what belonged to who. Let them fight it out, if there's to be a fight. In the meantime, while you strain at a gnat, you'd swallow a camel iluvxs. While you create a conundrum over matters that aren't your concern, you can only poison the atmosphere for those who are trying to make some profit with it, and you also cause others to shy away from something that they might have always been looking for. Silly isn't it? Besides, It is a different EA. This one trades far more pairs, far more time frames, and the other one doesn't claim to be able to do that. So, we certainly seem to have a different product here. I just wish every forum had a Venom-Spitters category, where all of those sorts of people can go spit their venom and fear, and keep the other threads clean. We are all just here to discuss the viability and usefulness of Forex ideas and systems, so we can all profit from it. There's no profit in slandering something that we all know basically nothing about. Enough said.
I was one of the first to download and run this robot after it went public. I immediately put it on the the IBFX Demo, and left it all in default settings EXCEPT I changed it to 5 min chart from 30. Results? It has posted 36 consecutive wins at 30 pips each. That's just over 1,000 pips in about 3 days. Not suppose to run on Friday, but I did, and there's a couple of the last trades ailing, but I can't worry too much about that even if they both tanked. Then I set it up on my FXOPEN demo at 1 lot trades, and it doubled that account in about 10 hours. It made $2983.00 USD on a few trades. I felt confident enough then to put it on the REAL account, and in about half a day it made 210 pips profit on 7 trades, and I closed the last two positions about 2 hours into the final session knocking off some pips. My conclusion? If you can't find a way to make money with this thing, you gotta be hopeless...LOL. I've got snapshots of all three accounts, but don't know how I can post them on this site.
Cheers!
Hey thanks omniwiz!
I better get the 30 min bars going.
Yes, were you trading the EURUSD?
If you have snap shots maybe you can post them on your site
and link to them (just don't put an affiliate link
so the forum folks won't get mad - if they do)
Also learned that's it seems like a good idea to set the system so it
doesn't trade on friday (set to zero) so no overnight hold because there
is almost always some sort of gap into sunday eve.
Well, it's 10 AM EST and on the IBFX demo I've got 49 wins for 1470 pips, and 1 300 pip loss so far. That's on the 5 min TimeFrame. Not bad. Real account is continuing to make wins as well. Yes Tony, it was the eur/usd trade that tanked. Rest are floating in a relative safe range at this time. Only one trade open from Friday, that's down about 60 pips right now. Anyways, here's what I found in the inbox today from Maestro...
SERIOUS WARNING: Major Price Hike Happens
Tuesday Feb 24 at Midnight EST
Suppose to jump to $997.00 for a year's license after that. Don't know if that's a marketing ploy, or for real. We shall see.
In the meantime, I think I will stick with the 300 pip default settings for now, although maybe 240 pip s/l might be sufficient. I once did some backtesting to find out the average high to low swings over a year with the eur/usd, and 240 pips was the magic number. Maybe 250 would be safest. I really want to have this set up to run without any interferance, or worry on my part...
maestro v2 seems to be doing what it said it would. i started it 2/17 on a $5000 demo account at FXDD and since them it has had 7 winning trades and 1 still in trade (currently slightly positive). the winners averaged around 40 pips per trade and the largest drawdown was 56 pips - a very respectable record so far. i used 30 minute charts only and for the recommended 4 pairs.
the manual is very short on information, especially dealing with a description of what the setup parameters were and how they related to the chosen time frames. i have sent 3 emails to support and so far have not heard from them. so if you keep this ea, it appears that you're on your own.
the advanced maestro is a complete disaster. setup parameters were set to recommended optimized values for 5 minute charts and with these settings, almost all trades were loosers - with a maximum drawdown of over 3100 pips over just the last 24 hours. save your money on this - i will return the advanced but keep the regular v2 and see if what i have so far is typical.
Hi Harvey! Thanks for dropping by. I found your comments helpful, and pretty much in line with what I discovered. Yes, the manual sucks, and I also fired off an email to see if they could provide more info on how to use the EA, but no reply. I was wondering what I was maybe missing out on with the 2nd part of the package I didn't buy, and now I'm sure glad I didn't buy it...lol. I sure appreciated you letting us know about that. Anyways, it looks like the default settings are working out the best, and I also did some back-testing today with the strategy tester. I couldn't seem to get it to not ever lose, so there will be losses, but on the two pairs I played with, the eur/usd, and usd/cad, there seemed to be no problem to double the $500 account over a month with each pair at .1 lots. So, if the other two pairs work out the same, that should net close to 400% profit per month, or 2,000 pips. The most successful settings I had changed were on the usd/cad, using 50 pips t/p, and 40 as the increment, and hours 7-21, no trades friday. Close to triple on those settings, and of course 30 minute time frame. That was backtested just for the period of Jan 6 to Feb 6. I was also glad to hear of the success you had with the FXDD platform as that's where my real account is. Maybe I should just go with the 30 min TF, and just do a larger lot size. Maybe Tony or someone else might have some more results on that. Well, it's just after 11 PM EST, and no more losses on any of the accounts, but the trades mostly spun their wheels today. The IBFX demo pushed through 11 more winners, but has a couple of lost sheep floating around. The Real account has a couple of dead beats still from the morning on Eur/gbp, but not in big trouble yet. I closed off a couple of red ones manually, but there was about 8 or 9 that completed in Green. Tomorrow AM I will check back in and will report on the overnight trades. Cheers!
iluvfx, proof of what you were saying is even easier than your investigation,
omniwiz, I'd look for a refund.
Why, do you ask? Turn on 'Comment" in your metatrader terminal. You'll see Firebird v2.0 for the standard Maestro, and Firbird v63D for the 'Advanced' package (I believe I have it in the right direction).
A quick search of firebird v63D will get you to a forum where you can get the ea for free. Not only that, but you get the mq4 file, which is the source code of the EA. They're on 63G right now...
DL V63G and compare the settings to Maestro. Exactly the same. No differences.
All this guy has done is to package a free EA into a ex4, possibly add account tracking (not sure that he actually does this or not, but I doubt it), and provide it for a HUGE price with very bad documentation.
The EA does work nicely, but why are we paying for something that is free?
Right you are Ja-Man. You have provided real proof. I was able to download it. Like I said in a previous post...I don't trust anyone in this business, but I can still like the code...LOL. Apologies to iluvfx. Still don't know how it got this far, or why the creator of this thing let it get this far. I believe the scoundrel selling it commercially has tracking code in it, and that's why version 2 had to come out as the original had glitches in it. Oh well, refund on the way, and good code for all my friends, too! See ya tomorrow!
I will use my Broker Time, to give results on a per day basis. Easier to keep track of. On the IBFX 5 Min TF, since the beginning, the times the trades closed will count on that particular day, as a win or loss...
17th 1 Win
18th 15 Wins
19th 8 wins
20th 12 Wins
23rd 1 LOSS= the same as 10 losses, and 11 Wins
24th 4 Wins so far...and 13 TRADES in progress.
On the FX Open account, the dang platform keeps switching over to Saudi Arabia feed, and of course won't trade properly. So results aren't worth reporting.
On the REAL account, so far no losses on any day at 300 pip s/l. I have decided to change the s/l setting to 120 pips, and have been using that setting for the last couple of days. So far no losses, although got close once or twice. It has closed 54 Trades since sometime around the 18th, and trades about the same number of times as the Demo account. 6 open trades right now. Each loss will wipe out 4 wins with these settings...
24th 11 wins, 0 losses so far...6 open trades at 11:30 EST
Linear Mode
