As they often do, the team at Forex Steam has released another update.
Arguably the longest winning system in Forex robot history continues to improve and I have all the details, as well as a full video explaining it and it’s most current results.
If you read through you might find a coupon at the bottom.
Forex Steam Video
Please watch this short 7 minute video all that you need to know about this new update.
So the video really covers it all but I will discuss now some of the things I covered in the video. First, I will go over the addition of the news filter.
This filter monitors medium and high impact news events and stops the EA from trading 30 minutes before and then resumes trading 30 minutes after. This feature can be customized by the trader to any amount of time before and after depending on preference. The filter uses data provided by looking at news specific to the pairs being traded at the time. I will show you a screen shot of the calendar below.
You can see the pair we are using here is the EUR/USD and thus the only news events monitored are for these pairs. The orange are medium, and the red are high impact. I believe it is best that both of these are monitored to avoid any potential losses and this is exactly what the purpose of the filter is.
At this point now, using the filter, there has been 23 straight wins. Now, I am not guaranteeing this type of success but it is no coincidence that the news filter has had this positive impact as it is an element that I have been telling the Steam staff to add for some time.
So it is safe to say here at Forex Robot Nation we are very happy about this latest update and hope for continued success with the light version.
Forex Steam Review Conclusion
Well this is one product I can say that I DO recommend.
I fully support the use of this product and believe in the development team and excellent support staff.
I will also be providing a 10% coupon for the next few weeks, so make sure to use this when you buy.
Steam 10% Coupon: FRN-8WX3-FRN
Version 6 has an outstanding performance. I manage to get 26 out of 28 trades with profit on May. This robot can make money as Forex hacked pro which I used on the same account.
just a quick question,will forex steam work on Icm market Australia ECN broker with 5 digit. But there spread are very low. pls i need help.
Yes, it will work on this brokerage no problem.
just curious what brokers do you guys use?
I placed Steam V6 on my charts yesterday 3/5/13 and my settings are TP 20, SL 90, High Med. news 30/30, BE 10/2, trail10/10 and hedge 20. I am in a hedge from a buy and it is close to the 90 SL , but it has made hedge trades all the way down and made profit on 9 out of 10 trades. 3 of the trades were on audusd and all winners. If anybody finds good settings it would be great to see them posted here with results.
The 90 pip SL was hit but due to the hedge trades my net loss was only 38 pips.Success
I have bought the Forex Steam Light last Friday (01/03/2013) and the robot still hasn’t traded. Am I the only one or …
Try setting ECN to TRUE or setting ECN to FALSE. Also make sure you have the latest version from the members area. The system is trading actively this week.
your not the only one… I have had it for 4 months so far and it hasn’t traded once, I’ve tried with ecn on true, ecn on false, different brokers, different computers, and it still hasn’t placed a trade. Although now i am trying it with FinFX (the recommended broker) and with a 5 digit account with the ecn set to true… fingers crossed.
how is it going guys?
Going well Dan, there was a rough patch on the 24/25th but the team at Steam warned us in the members area so we were able to avoid it.
v6 isn’t trading as well on aud/usd
No its not, I removed it and I am running the previous version on the AUD/USD now.
The prev version is running much better.
When you put trade to false on Sunday what does that mean exactly? If you are in CST does that mean no trades Sunday night/Monday morning or just until Sunday until midnight-or are they just using GMT- 0 as a base.
coupon code not valid…: (
I believe this special is over
Admin, what risk % were you running steam on your initial 1000 deposit for the above mt4live account? It looks like 30%
Tomorrow is a Bank Holiday in the US, so really we should not trade as per instructions
Hi Guys, I tried the FFCAL and my times matched up but my broker is in australia with a +2 dst offset (pepperstone). Can someone please advise if I need to change the parameter on verstion 6 even though FFCAL matches? Thanks in advance. 🙂
Does any off you know how to sign up with mt4live. When I try I never get that validation email from them.
H Peter, I have registered few days ago and i got the email from them in few minutes, try to check your spam, maybe its there.when I was trying to register in Myfxbook, that was exactly where I found an email from them.
II wonder how that can happen,two orders exactly the same time,the same
price but different lot size?Any ideas?
V5 is still running on one of my platforms,no trades for today on any version of steam
Doesn’t generally trade on Fridays.
Thanks, just wanted to make sure its working.
Peter I am using the updated version that we received yesterday. No trades yet
No trades so far, I have tried both combinations of true and false on the days of trading.
Hi phil, they fixed it. Must just go download it again. I’ve got the updated version but still not getting live trades
Has anyone had anytrades today? I’m still not getting any trades.
They fixed it Peter, good eye!
Your kidding . Turn the true to false for days trading? Would admin confirm?
Hey Peter you are correct, I have just turned Mon- Fri to false, and i have my first trade with AUDUSD
Ok, so I tried back testing V6 with V5.2 to see the difference.
Low and behold v5.2 took trades while v6 took no trades. That got me thinking so I changed TradeonMondays up till TradeonFridays from TRUE to FALSE.
And what will you know, when I reran a backtest of V6 it started trading. So I suspect the Boolean Values for the newly added features are reversed. So I have changed it all to false on my live account, now to see if it will pick up trades.
No trades yet,for me also
No trades yet, have set the news offset as described. Now is the waiting game, have set my stoploss to 50 pips instead of 90.
Has anyone got any trades with the new version yet. Got them both on EUR/USD and AUD/USD pairs but no trades were taken for today
In regards to the News Filter when setting DMT Offset.
Drag it onto chart.
Match up the next news event. If the next news event on your chart says it’s in 4 hours but it’s actually in 1 hour then you would set the Offset to 3.
Ok, having a little trouble setting up the news filter with regards to the dmt offset. It says you must compare the time remaining on forexfactory and the time remaining with the news filter that is attached to a chart. But on forexfactory it does not give the time remaining it only shows what time its being released. while in mt4 it says 3hours remaining and I have now way of checking if its correct.
Hi peter, what time is your mt4 using?Mine is on USA brokers server, so I belive I dont have to change anything
My news filter says 2h28min reaining at the moment
So it shows you 1h44min remaining until Usd unemploiment claims?
no,sorry,my bad it shold show you something else.what does it show you at the moment?its 7 h difference between Gmt+2 and EST time, so you should set it up in -7 h I belive
I just checked the FFCal on my gmt + 1 broker and it showed the same as on US broker platform so I am not sure what to think now.
I set it to 1, will just see what happens
we will see.Where are you from Peter?
I use Hotforex, they are GMT +2
Admin, I guess my yesterday comment has been removed? As this cannot been seeing anywhere in the forum. Anyway, I was only sharing about my previous experience of Forex Steam and which does not negate the improvement that been made over time for better performances. I am very keen to give it a go as I have started demoing it again but please let’s encourage good practices supporting Forex Steam as well total honesty with the results.
Hi Abi,I dont like the removed comment the same as you do. Few of my comment was removed also, in wich I was suggesting to share daily stats on Steam trading.
great!running on my MT4 already
Thanks Darius for your respond. It was the earlier Version 2 that I had that time. However, I would be demoing the latest version to see the improvement. Good to be back again…!!!
Steam 6 is now available, the update is in the members area Free for current members. I will be looking at this version more and doing an initial write up / video tomorrow to go over the details.
Hi guys, it’s nice having this forum to discuss the performances of FxSteam. Have had this ea over 2yrs now with bad results wiping out my portfolio at a time. However, it’s good to know that there have been major improvements since then and I will be looking forward to give the forthcoming version a go. So let’s keep updating the forum with our results…
Hi, which version you were using?Normal or Light risk?
No news of the update ver 6 yet, will it be available today
Hoping soon. Talked with them a minute ago. Seems they are just dotting the i’s and crossing the t’s.
One more tp on EurUsd. That was a good start of the day:)
AUDUSD just made one more profitable trade!my good mood is back again:)
And another one in profit, so 2 for today already
Yep 2 tp+1 tp on EURUSD, waiting for the new update release, and see how it works.
Yes, as the current one’s newsfilter is not working like it should. Picked up another trade on the AUD and not sure how its going to end
well it doesnt look so bed yet
It is good to try but definitely be careful with untested pairs like this.
I recommend using them on demo accounts strictly until you feel comfortable.
AudUsd 90 pip sl was hit, bad for me to start trading on this pair:)
Yes its sad that the sl was hit, but this is the first time since I have been testing that the full 90pip sl was ever hit. One full sl in 4 months is very good. I only lost about 48% of what I made on the AUD the last month and a half. The % would of been less but the last 2 weeks I increased my risk to 15%
Lets hope we will not get full stops in the early future:)
Well all the profit made has gone up in smoke, we have hit the 90 pip stoploss on AUDUSD
Could have it been avoided by the News Filter?
I think it would have, if steam was set around 50-60 min before news release.
Yes, well get sl,lets hope AudUsd will turn back to 20 pip sl.What about an idea to share our trading statements every day?
looks like we will hot the stoploss on AUDUSD, hopefully its not 90 pips.
When are we going to receive the new update?
Scroll down below 🙂
Alright I got a sneak peek at Steam 6!
Looks like they have really focused on allowing more flexibility and giving the trader more options.
They have added the Updated News Filter.
They have added Daily Trading Options as some users don’t want the EA to trade Mondays.
They have added a Trailing Stop Feature.
They have added a Hedging feature.
Looks good so far.
I believe they will release the update today or tomorrow.
They usually prefer a long testing period but there is a lot of demand that they put this out quick so we can benefit immediately.
It looks like the New Version with Trailing Stop, Hedging and the New and Improved News Filter is ready. I have been talking with them about this and they are extremely excited to get this release out to the Steam traders.