FOREX GROWTH BOT - BASIC OR ADVANCED?

Good day all, in this post I will try to clarify the 3 versions of the FGB. There is the basic version(which is the version I trade as well as most others)and there is the advanced version. There is also what is called a power edition which adds wave trailing to the basic strategy. "Wave trailing is an advanced system that trails the profit take and stop loss. Helps improve profits. Wave Trailing (Default is "40-80;40-80;40-80;40") this string defines the Wave Trailing rule. This is semicolon separated string with Wave ranges. Default Wave Trailing rule defines three 40-80% wave and last 40% trailing." I believe this adds drawdown to your trading but over a longer term will add profits as well.

The advanced edition is an up sell to the original robot. This includes the following:


MaxTradesPerSideAllowed( Advanced & Power ) – This function allows you to put a limit on
the number of trades opened at a time on buy and sell trades.

BotComment (Advanced & Power)  – Allows you to set the trade comments for each trade.


Profit Target (Default is 0.5 or 50% from Profit Loss Volatility Base) (Advanced and Power) –
Value of the profit target for each trade.  This is a percentage the lower the percentage, the
lower the take profit.


Stop Loss (Default is 0.2 or 20% from Profit Loss Volatility Base) (Advanced and Power) –
Value of the Stop Loss for each trade.  The lower the stop loss percentage the lower the stop
loss will be used.


Profit Loss Volatility Base (Default is 50) (Advanced And Power Version) – period in bars for
calculation profit target & stop loss. EA calculates High and Low for Profit Loss Volatility Base
with this number of bars and then use it as base for Profit Target & Stop Loss.


Trail Target & Trail Pips (Advanced and Power Versions) – Trail target is the number of pips in
profit at which time the trail pips, similar to trailing stop activates.  This means that is trail
target is 100, and profit is at 100 pips, then trail pip will activate.  If trail pips is 20, then the
robot will close if the profit goes down to 80 pips.  If pip profit increases then stop loss will
move up so there is always a 20 stop loss (or whatever number you choose).  This is checked
every tick.  Will NOT work with Assign SL and TP set TRUE.

Use Wave Trailing (Default is false) (Power Version) – Wave trailing is an advanced system that trails the profit take and stop loss.  Helps improve profits.  Wave Trailing (Default is "40-80;40-80;40-80;40") this string defines the Wave Trailing rule. This is semicolon separated string withWave ranges. Default Wave Trailing rule defines three 40-80% wave and last 40% trailing.

Also with the power edition (In addition to the wave trailing feature)we get a re-invest profit parameter.


Re-Invest Capital (Default is false) (Power Version) - This will increase the lot size by .05 lots
for each $2250 profit.

As you can see it gets pretty comprehensive. Most users like myself only trade the basic edition