Great vid mate. Been waiting for your update. Nothing else on the KZread about it so cheers

Thank you for the update. I hope you keep on sharing your experience.

very nice video! learn a lot and look forward to the update!

The bot ups it stakes at every 5000 usd you put into it. it will not start dynamic compund before it hits 15.000 usd. 5000 usd = start 0.01 lot, will hedge up to 0,08 lot. 10.000 usd = start 0,02 lot will hedge up to 0,16 lot. 15.000 = start 0,03 lot and now the dynamic compund starts as your account grows. hope it makes sense, nothing sketchy about it !!!

@_magicfx

Ай бұрын

That makes sense, thanks for the info!

Been waiting for this myself as thinking of giving it a go. But like others.... i need to know how easy it is to withdraw on it before tying up capital.

Given the EURJPY issue, where is your account at from the past few days? Was it affected?

@RelaxingFocusMusicSounds-bu8tc

7 күн бұрын

Yep, it was. But due to some trades I closed manually. That’s all.

Thankyou for the video. It will be great to see your experience with a withdrawal from the broker. Are you planning to test that soon? Thanks

@_magicfx

Ай бұрын

Yes that will be the next update. Just waiting for it to hit 40% profit now. So may be a couple more months.

What is the reason for changing broker? They state that the bot works best with the broker they suggest?

@RelaxingFocusMusicSounds-bu8tc

Ай бұрын

They want you to use that one for their afffiliate program ;-) But I suggest you use my link haha!

@MagicFX can they invest all the money in a penny stock they have and just sell it ? I mean pump it with your money like a scam

Interested in this but the comments below make me nervous - how did the EURJPY issue impact the bot?

And another 4% gone since they advice to close eur jpy positions. JPY pairs are killing a lot of Ea's at the moment but most actions taken are too little too late. The inherent critical issue with the EA stays though. Today it's the yen weakening tomorrow it could be euro or usd falling apart because of the underlying economic situation. The only thing a Martingale EA can do is keep on buying or selling against the trend. Hoping at a certain point the trend will reverse somewhat. Retracements do happen but could be too late and leave you with a big loss or even a blown account. The following exploding timebomb could take years but also be just around the corner. It's nothing more than gambling. A stock fund has assets and not all of them will go to zero but a forex position is not comparable with a stock fund. You don't have any assets on Forex besides a position on a price. When it goes wrong those positions are lost and you're left with a loss while stock still has the possibility to recover after a drawdown.

What is your opinion on Roboforex.....it's only regulated in Belize

@_magicfx

2 ай бұрын

We will see when I attempt a withdrawal...

@piper2239

2 ай бұрын

@@_magicfx yea will be interesting...seems expensive to withdraw

@RelaxingFocusMusicSounds-bu8tc

Ай бұрын

@@_magicfx I do withdrawals every month. On the 1st and 3rd withdrawals are free.

@javiercabrerizo2745

Ай бұрын

@@_magicfxwill you attempt to test??

trying it with the bot. logged in on PUprime but after an hour there have not been any trades yet, do i still need to enable it somehow or what am i missing. i can see trades happening every 15minutes or so at yours so im kinda worried i haven't turned it on?

@_magicfx

Ай бұрын

Sounds like somethings gone wrong there mate, usually will open trades instantly. I recommend contacting their telegram support if it’s not sorted already.

What leverage do you use ?

@Chopzz

Ай бұрын

The software uses 1:200 leverage. Most European brokers only allow up to 1:30 leverage. The recommended brokers by the Alchemist team are Roboforex (not Robomarkets) & PU Prime depending on which country you live in

who did you change your broker too out of interest? and why?

@_magicfx

Ай бұрын

Changed to roboforex as that’s what the alchemist recommends. Probably just because they are affiliated but I didn’t want there to be any reason for them to say I’d done anything they said not to do.

Hey, Do you recommend to buy this ?

@_magicfx

Ай бұрын

I recommend you take what I say in the video as my own experience and then make your own mind up from there. I don't want to tell you directly what to do with your money, but for me it's been great so far.

That’s awesome

Obviously there are variations, but with these FX brokers what kinds of fees are charged with each transaction? I can that you are making several hundred dollars each month on your capital, but that’s gross profits. What would be the net profits given how many trades this system seems to be taking?

@_magicfx

Ай бұрын

The net profits are the ones shown in this video.

Have you tried withdrawing money?

@_magicfx

2 ай бұрын

Not yet, that will be the next review...

When are you planning to make a withdrawal? Would be great to know thanks

@_magicfx

Ай бұрын

Good question, when the account hits £4k profit (+40%) I am planning to make a withdrawal. Will definitely be an update to show how that goes.

@zainboyko1045

Ай бұрын

@_magicfx thanks a lot. Hope it goes well for you

@eirysepoet

Ай бұрын

I am waiting for your results too

Are you still happy with it?😳

can you use this on MT5?

@OscarTangoAtc

Ай бұрын

They do not advise this. Just install Mt4, log into your account, Bob's your uncle.

@Chopzz

Ай бұрын

Code was written for MT4 only

Differing results could be caused by choosing broker but most likely because of rebates. The result account trades with 0.31 lots whereas as 10k account would open with 0.03 lots Quite a difference in lotsize and at the end of the month those rebates can make quite a nice extra profit. Even more because balance also plays a big role in the bonuses.

any updates?

@_magicfx

Ай бұрын

Still running well, will do the next proper update after a withdrawal.

can you use this at mt5?

@Chopzz

Ай бұрын

No only MT4

Would you recommend buying it ?

@_magicfx

2 ай бұрын

Well of course it's at your own risk and I wouldn't want to tell you what to do with your own money, but you can look at the results I've had and decide for yourself. I personally am very happy I made the investment.

So the more money it gains more money will the bot make? For instance. If you wait a year the original deposit will double og tripple the account?

@_magicfx

Ай бұрын

I’ve since learned that it only increases the lot size with every $5k (I think) so while it does compound, it’s not as soon as it would be if it was always increasing.

Solid 💪🏻

@_magicfx

2 ай бұрын

Thanks mate!

I think you are forgetting one important aspect when it comes to the profit you are making. My guess is that the lot size change for every 5000 in your account. So 0,01 lot for 5000 up to 9999, and 0.02 lot for 10 000 - 14999. This means that you will not get the compouding effect every month. So you still have to calculate your profit from 10 000 USD.

@knudsen8661

Ай бұрын

In the first calculation you did from december you actually got better results than what they display on the website. You made 545USD based on lot size from 10k account. So you made 5,45% while the website said 5,21%. When you hit 15 000 on your account your starting lot will be 0,03 lots, so then you will be making profits based on 15 000 and not 10 000. Hope this helps and gives you even more motivation :)

@_magicfx

Ай бұрын

Ah interesting, I didn't think about that. Thanks for enlightening me!

I lost 2k$ on this algorithm. 5k deposit and it hit the 40% stoploss within 3 weeks of using it. Terrible risk to reward ratio.

@EricR214

29 күн бұрын

Sorry for your loss. Considering the comments online like on trustpilot or telegram seems the group with a hard stopout is much higher than 2%.like the author claimed. It still is and probably always will be a Martingale EA. Those systems will always collapse if the trend doesn't reverse. JPY pairs are killing a lot of accounts now. Not only on this EA. Weak JPY continues to wreak havoc. I stopped using the EA last month since the RR is just not worth it. Already seen some so called recoveries for a minor gain while a lot of equity was put a risk. Timebomb waiting to explode and it seems it just did and surely will do again in the future.

@charlieandbusiness

28 күн бұрын

@@EricR214 exactly as you said. Bad risk to reward ratio, trend doesn't reverse and you suddenly loose the money 10x faster than you gained it. I could imagine this being worth it if you are lucky, but then you might aswell go to the casino and bet on 95% win chance to gain 1.05x of your "investment". You will get it 15 times in a row but one fail and you loose it all.

Im currently at a 35% drawdown. Bye bye my money on monday when the market opens.

@charlieandbusiness

Ай бұрын

Also i used it just for 3 weeks. Quickest 2k$ loss i ever had.

@javiercabrerizo2745

Ай бұрын

Which broker are you using? Have you tested withdrawals?

@charlieandbusiness

Ай бұрын

​@@javiercabrerizo2745 Roboforex, im not the only one experiencing this