Forex Steam, is one of my favorite creations. This trading robot is fresh and new with an update built to take profits to a whole new level. I’m proud to have put together this talented development team and today I’ll be telling you everything you need to know.
Just a few months ahead of our astounding ten year anniversary, the Forex robot that continues to grow accounts better than any other software on the market is providing a free update. Let me get started here by telling you what I’ve included in version 10 and what we can expect moving forward:
- Major Market Updates for 2022 and beyond
- Trailing Stop optimization for better usage
- Risk/Reward adjustments
- Max spread for avoiding bad trades
In this analysis of Steam, of which I am the owner/creator, I will be reviewing the features, results, client feedback and much more.
Current Forex steam members can go to the members area now to download the update for FREE. Non members, I have to tell you, this is a great opportunity, and a seamless way to create passive income.
Forex Steam 10 Review
It’s really quite surreal to me that the Forex steam robot has been successful for almost 10 years now. When this software hit the market I was extremely skeptical about Forex robots and never thought they would work for me. I’m happy to say now that 10 years later Forex steam has hit over $1,000,000.
It’s crazy to look around the Forex robot community and see how many robots have hit the shelves, failed and disappeared. Yet, our team at Forex Steam continues to provide free updates to make sure that the software is profitable for clients and proves to be both trustworthy and reliable in any market condition.
As the software changes, so does the strategy and the techniques to use the software. Many traders now use Forex Steam as a time-restricted scalper, which is proving to be an easy and stable way to grow accounts. While many other systems attempt to over-achieve, Steam is always using a balanced risk profile to keep risk low.
There are many different parameters, all of which can be adjusted and tweaked to make the system fit your trading style. That being said, we prefer the default setup with very few changes.
If low-drawdown is an interest of yours, the EA only opens 1 trade at a time, so the max possible drawdown with default settings is 10%.
While most scalpers rely on very few Forex indicators because they want as many trades as possible, the Forex Steam robot is much more specific. It is not reckless as most scalpers are, as it’s evolved over the years to include many different rules that need to be followed.
Here are a few of the Forex indicators used by the software:
- Standard Deviation – which helps determine future volatility.
- ADX Trend Strength – for ensuring the robot trades during ranging market conditions.
- Moving Average Convergence Divergence – utilized to help the robot follow the trend.
- Stochastic Oscillator – for momentum analysis.
- Relative Strength Index – used for technical analysis, measuring the magnitude of recent price changes.
- Williams %R – which is another momentum analysis tool measuring overbought and oversold levels.
With each indicator serving a direct purpose in conjunction with the other indicators, it’s a very complex trading strategy.
The robot also includes different proprietary indicators that have been added throughout the 10 years of development. Most of the proprietary tools are used to deal with small market shifts that happen frequently. The foundation of the Forex Steam approach is built around the core indicators.
Forex Steam also comes with over 30 different parameters that can be adjusted by the client at any time. Most traders refer to these as the settings.
I’m not going to bother going into ever single parameter as they’re all discussed in details on the about page of the Steam website.
It’s just worth knowing that the software can be customized to meet the specific needs of each trader without much difficulty. The most common changes to these settings are in adjusting the max spread feature lower which helps avoiding volatility, and restricting the time the software trades to ranging markets.
As is the case with any robot, there are going to be detractors, but over 90% of the comments and feedback for Forex Steam is positive. Every once and a while we come across a bad review, and these are generally from traders with little experience or little patience. We have also found many fake negative reviews from affiliate marketers with no trading experience just trying to compete and sell their product instead.
Just take a look at the rankings the Forex Steam clients are providing to see for yourself:
There are many Trustpilot reviews showing how happy the average client is with the EA.
This does not mean that every client is happy. In fact, there are complaints about how difficult the software is for new traders, and that there are not enough different set files provided. These are two aspects that have been brought up at recent meetings, and will be resolved.
No robot is perfect, but with the right customization, you can find yourself with a long-term winning machine.
Steam is rated incredibly high by it’s clients, and a big part of that is the fast response to all customer support questions. Don’t believe me? Email support yourself and see how helpful they are. By far, the best support in the robot marketplace.
Forex Steam Results
I’ve been very successful thanks to the Forex Steam software and the way it approaches entries is far and above any other software currently on the market. I truly believe that since the development team is so active that this ever-changing strategy will be fruitful for at least another five years.
This active test shows that our accounts are matching up with our clients which gives me the added confidence to deposit more funds on a monthly basis. The software can take a month or two to match up completely as there is a learning process in the software that makes adjustments based on the market, the leverage and the brokerage being used. This is a unique feature that no other robot on the market has been able to replicate (despite trying).
Forex Steam Conclusion
Forex Steam 10 is another move in the right direction.
I recommend this system to all of my readers 100%.
I trusted this robot 10 years ago, and I trust it still to this day. So much so, that we are now completely in control of the operation and using all of our knowledge, resources, coders, analysts and experts to make it better.
You really can’t go wrong with Steam, as it is one of the cheapest options on the market, and the longest running. I have full confidence in the EA, and know for a fact that we will continue to update the software for many years to come.
Forex Steam $117.99
- Trading Results
- Client Feedback
- Customer Support
A long running favorite of thousands of traders, the Forex Steam robot is known for being cautious and keeping a high win rate. The “light” version of the software is a steady gainer in both MT4 & MT5 with any brokerage.
10 years active Proven performance record Multiple EA’s in one package 4 licenses Very low price
Risk reward ratio Untested on additional pairs
Ok so after the hype i purchase the Forex Steam, i lost the first trade it did the retrace pip thing, i have had the bot about 3 days and that is the only trade it has taken, i am currently using it on EU, are the any other setting i need to know about i left them as is. i also ran the bot through the EA tester it didnt do so well on the 1min or 5min is there something i need to do please help thank you
Check for any errors in experts / journals. Could be a slow period. Can open up a few more demos to get the hang of it.
can I use on MT4?
I bought forex steam V11 last night , installed it like the video said but its doing nothing please help meeeeeeeee 😪
HI Stefan, a single night without a trade is very normal. Open some more tests, do some simple back tests to make sure the settings are right.
what’s new in v11? no explanation was given.
Small market update Rasim.
I received an email that V11 for steam is ready for download, but it doesn’t give any information of what the update does or that steam does better.
I have Steam but have not used it because with the win to stop loss ratio is so high. If I hit the S/L once in 9 trades I lose all profit.
Is this fixed?
Hi Ray, there is a pip retrace at 20 pips, and you have full control over all stop loss settings. You don’t have to use the default risk reward ratio.
Can you please share your setup & currency pairs which are giving good results?
Hi can I use the robot with a minimum of 20 dollars in my account? For account growing purposes
In micro you could test this, wouldn’t do it on standard.
Hi, do you have a recommendation for the best trailing stop number for forexsteam?
I have bought your forexfury EA some 3 weeks ago. It is doing quite well so far. I would like to have another robot for another currency pair. Would you recommend buying Forex Steam 10 just to diversify or would it be better for me to buy another license of the forexfury? Hope to hear from you soon!
Yes, it’s a great bot! I’m also working on some new EA’s set to release in 2-3 months!
how far on the new EA you mentioned
I have multiple live account tests running. So, last phase but I want a few months of data before I do anything with it.
how are u
am in uganda and trying to get the steam EA on thea web but it is failing then also how many pairs does it work with
Hi Manzi, email support for help with you order
May i know what parameter did you use to get these results for EURUSD?
These are default parameters currently.
I would like to ask your opinion. I am trying to decide between the Steam and the Fury, however, I would like your input on which of the two would be most beneficial for me, with regards to being able to set and forget. I am visually impaired (blind) and thus am not able to keep my eye on charts and/or indicators. I am aware that no EA can be trusted 100% or so all the websites I have looked at, say, but it seems like your EAs are highly rated, so your suggestions and recommendations would be highly valued and appreciated with regards to which EA, can it be used straight out of the box, in cases of platforms such as Mt4 and Mt5, that are only accessible for me to tweak without sighted assistance, up to a certain point etc. Thanks for your consideration.
This EA has presets for which pairs ? What minimum account value to trade with 1 pair ?
Hi Dennys, the bot can be tested on any pair. $100.
Thanks you first of all. With a 1k usd account, can i get an average profit of 30% per month with EA Steam?
I just want to ask if this ea forex steam needs VPS also?
Hope you can answer this! Thank you
Hi Ritchie, it is not a requirement. Just client preference.
Why is it that when I change the setting in forex steam like the lot size and take profit and click ok and the adjustments appear on the chart but the old settings continue to trade for days???
The old trades using the old settings will have to close, then the new settings will take effect.
Will they (mean seller) help me to setup STEAM in MT4?
There is a full support team with easy setup videos as well.
After we purchase can go with default settings to run our account
Hi Pal, yes you can use the bot however you see fit.
In the time restricted strategy with the GMT plus 3 it states to enter 3:00-09:00 however in the forex steam setting there’s 4 zero’s. Do I enter 0300-0900 0r 300-0900. Sorry for the odd question
You enter it 0300
From your live trades it looks like RR is 1:1 or may be a few pips more profit is that right? Also, how does pipstick work?
Hello, I see it in your personal reslut that SL/TP ratio is 2:1 did you set it yourself or let the robot do the thing?
Great Consistent EA
One of the most consistent EA I found. Thanks for the great review, Patrick. Your live data for EURUSD matches mine as well!
Highly recommended to just go with default setting for everything. It just works out of the box!
Am running Time Restricted on NZDUSD GBPUSD USDJPY, is it better to use 90 or 60 pip SL?
I prefer 90, if you change to 60 you will have to adjust the retrace as well to a setting you prefer.
If stop loss is 90 what take profit are you using
Hi sir am kind of new to forex and caught in between making some money and also learning how to trade so is it safe to use the forex steam since am a beginner
Hi Patrick, I know you mentioned earlier about using myfxbook. Any update on that. I am in the process of doing my due diligence before I buy Forex Steam and that would be really helpful. I like what I have discovered so far.
Hi Doug, I don’t have one active at the moment. If you prefer Myfxbook, go see https://forexrobotnation.com/forex-fury/