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Forex Steam Ten Review

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 2020 and beyond
  • Trailing Stop optimization for better usage
  • Risk/Reward adjustments
  • Max spread for avoiding bad trades

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

This Forex steam software is 100% automated. Trader’s can download the system, install it and let it trade for them right out of the box. For more advanced traders, they can quickly optimize and configure the software to trade to their unique specifications.

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.

Strategy

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%.

Indicators

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.

Parameters

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.

Client Feedback

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:

Trustpilot client reviews

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.

Sitejabber client reviews

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.

Here are my Personal Tests running Steam version 10.

Personal Tests:

You will see in my tests here that I focus on the Forex Steam Light version. This is my personal preference because I am a cautious trader that likes to grow accounts steadily over time. The software package also comes with a normal version for no extra charge and there are no upsells.

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
  • Pricing
  • Strategy
  • Trading Results
  • Client Feedback
  • Customer Support

Summary

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.

Overall
4.2
Comments Rating 4 (2 reviews)

Pros

10 years active Proven performance record Multiple EA’s in one package 4 licenses Very low price

Cons

Risk reward ratio Untested on additional pairs

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

1,420 comments

  1. daniul.conui@gmail.com

    Is it possible to lower down the SL without automatically affecting the lot size set by the FS? because whenever I adjust the SL the lot size are doubled.

  2. Hi when running the robot can you also place manual trades along with them? Thanks

  3. Anyone with an updated setting

  4. Does the max spread feature accept decimal values (ex. 0.5 pips) given that most ECN type of spread for EURUSD is less than 1? Also, has anyone experienced major increase in spread for EURUSD > 5-10 pips even for ECN accounts? Thanks!

  5. I don’t know why my prev. comment never got published. Anyways, hopefully this one will. I just have a couple of questions:

    1. Has anyone tried to set more than one trade on the steam? Does it affect the success rate?

    2. Has anyone tried to lower their retrace, like 10 pip or 0 pip (break-even)?

    Thanks guys.

    • Hi Richard, I simply didn’t get around to approving the comment. Please understand that it is the holiday season, so I will be spending time with my family too.

      1. Clients have, and have mentioned it in the comments below. I haven’t spent much time with it, as I prefer to keep the drawdown low, and max orders 1 does a good job of that.
      2. If you are going to run a retrace that low, you may as well disable it and just see if the trade returns to 10, but it’s worth testing everything.

  6. Hello Patrick,

    I have Steam running on an account but its been 2 weeks without any trades? I Have checked settings to for any issues

    Can you help please.

    Merry Christmas Everybody!
    Cheers

  7. Hi,

    Does anybody know what the pip stick function is? Or Does?

    Thanks

  8. Has anyone tried FS on commodities (ex. Gold), indices and cryptocurrencies?

  9. Hi Traders, Does anybody know how wide the EURUSD spread gets during volatility and low volume, like 1,3, 5 pips?

    Cheers

    • Hi Dan, it will be different for every broker. So, you will likely just want to monitor the spread to get your answer.

      • Yes Patrick but do you know if spreads with any broker get as wide as say 5 pips or more?

          • Right thanks Patrick

          • Hello Patrick- just want to check something with you, today the software opened more than 10 positions, each exactly 3mins apart…is this meant to like that or a glitch may be somewhere ?

            Thank you

          • Hi Dan, this is not something I’ve ever seen in my years of using the robot. Make sure you have separate magic numbers if running on multiple pairs, and check for any messages in your experts / journals tabs.

          • Patrick,

            I am only running 1 pair per account but, as you said to check Experts and Journal; the following message is in expert tab – ‘timeout’ and ‘no connection ‘ in the journal tab it says ‘request timeout ‘ and ‘request rejected due to absence of network connection’

            Please help me this as the account is highly over exposed.

          • Hi Dan, these errors are connection based, not anything to do with the robot. This likely isn’t anything to worry about, but just make sure your internet connection isn’t disconnecting too often.

          • You are right Patrick, it was due to network connection.

            Great knowledge as usual ;j thanks Mr Robot Expert

  10. Hi All,

    Does anybody know what settings are used for the trades page on FX Seam homepage? is it default or modified?

    Because they are very consistant with no more than 2 loosing trades in a row.

    thanks team 

  11. Hi Patrick Ryan,

    Am using FX Steam but i do no fully understand the following:

    a) max spread in settings is displayed as pips right? so, 100 means 1 pip?
    b) max trade is he maximum number of open trades at any given time?
    c) trades per bar-? not sure what his means?

    thank you

  12. Hi Patrick, all,

    Just purchased Steam after the glowing review.

    Just working on some of the streategys that are recommended, however I’m based in the UK and want to trade the asians through the night (as recommended 00.00 – 06.00) but not sure what the ‘off set’ time is?

    IC Markets are saying +3 hours? Which would mean 03.00 – 09.00?

    Just want to make sure I’m doing this correct before adding more funds and upping lot sizes.

    Many thanks in advance

    Kevin

  13. Hi Team!

    Can someone send me their settings for FS please?
    Cause I see a default setting of 90/10.
    And on the Forex Steam Results
    It looks more like 20/10.
    What is the best setting for you, Patrick or others members?
    Thank you for your time!

    • Hi Tony, the 20/10 risk reward ratio is due to the pip retrace setting, which is available to all clients. This feature helps avoid the larger stop loss number, and cuts losses at 20 pips instead.

  14. Hello Team !

    Somebody can help me to setup well in the demo account ? I want to setup in forex steam the winning trade. I don’t like the repeat winning trade. I want only one setup trade evry day for evry single pair. Stop trade after winning trade. one low risk possible … test…
    Thanks

    • Hi Felix, Steam will keep placing trades based on available winning market conditions. If you want it to stop trading after a single win for that day, you will have to turn it off manually. This is a click of one button, and is easy to do. If you think that 1 trade per day is best for the strategy, we can look into that and see if it works as a new feature for the software moving forward.

      • Many result sometime is 2 wins, after one lose in the same pair daily…So in my opinion in 4 single different pairs for 4 wins are better for one result daily … more 3% profit ….low risk is better for my strategy ….recovery take more time….

      1. [spoiler title=”check the maxtrades”] [/spoiler]
  15. What is the best setting for the forex steam normal? it has been a week and it never opened any trades. I attached on GBPUSD M30.

  16. Hello Traders,

    Am new with Steam here, what is like a % return monthly with default setting with nothing changed?

    Are there any pairs or settings tweaked that can give highest return??

    Would love to know your experiences.

    Cheers

  17. Newbie here. Do i have to use a vps for this?

  18. Hi Guys,

    I been running the EA and not sure what the following parameters mean?

    1. 1. How does Retrace work?
    2. 2. Am guessing max spread is shown in points? 100 = 10pips 
    3. 3. What does the 1 mean in Trade Balance 
    4. 4. Am i right breakeven and trailing stop are much of the same?

    Would appreciate it.

    Thanks

  19. Can i use Loss recovery trader beside Steam to cover losses?Would be better results? Anyone have expirence using Loss recovery trader beside Steam?

  20. What would be the best broker to go with while using bots? Please

  21. Since August 31,2020 until now I’m using my own settings on my real account. EURUSD enough for me. I’m using only 1 license for EURUSD that’s it and my result is
    49 straight wins. No losses.
    106% gain in just 1 month. Again,Yes,106% gain.Amazing robot. I think this ea ( forex steam) my first and last. More power FS.

    • That’s amazing Rai, I hope you share your settings with us.

      • My settings combination from support and from my experiences in trading forex. I’m not prof yet but this set up is profitable and tested to demo.
        Minimum deposit for this set up is $200.
        -MM true
        -Risk 100% ( invest money you can afford to loss)
        Maxtrades – 10
        Maxspread tight to your actual spread
        Stoploss 2000- won’t be hit
        Tp 10
        Retrace exit false
        Trading hour 24hours
        Try to demo first and you will see the results.
        Happy TP hit!

        In my experience about drawdown is 270 pips. But the market back to main trade and hit the profit. maxtrades 10 is the best and very helpful.

  22. What is the minimum deposit that you recommend on this EA?

  23. Hello ! Team!
    Somebody can provide number of maxspreads of default setup of forex steam restrited strategy Sl 60 Tp 6 Time 0000-0800 Europe time (spain). ECN :true retrace: false Forex steam V10 light. maxspreads is 5, 6 or 100 ?. I’m testing now…

    Thanks with advance…

  24. I am running a steam test that’s working very well for me, so I want to share. It is gaining around 15% steadily per month for the last 7 months.

    Pairs: EURUSD, GBPUSD, USDCHF
    Time: 1AM – 4AM (GMT)
    Settings: Default, except max spread 10, TP 7 on all three pairs. Magic number different on each.

    This setup isn’t losing trades.

  25. Hi,
    What’s Forex Steam 4 licenses does mean, can you please explain it to me?

    Thank you ????

  26. Hi FRN Team:

    Wanna say that testing Steam on Demo is great, it has losses but its doing way better than most EA i tried. Win/Loss ratio for Steam is around (10:1) so far

    May I ask tho, in the statement ur sharing, its running on default settings right?

  27. so i just bought the product. did you use the SL and TP already or did you change it. cause if im reading this right SL is 90 and TP 10?

  28. interested in buying this but I have a question. how is it on stocks like the NAS or us30

    • Hi Felipe, it will work with all assets in MT4 or MT5, but we have our best success with the major pairs. I have not tested Steam thoroughly on other assets though, so there is likely potential there.

  29. hello there I have a few questions about the robot
    1st. :how long does my pc has to be turned on? for the robot to work 100% how it needs to work
    2st :if the deposid is getting higher every month does it change the orders automaticly (with a higher value)
    3st : is there a telegram/forum group about this robot?

    another question (4th)
    :i know there exist brokers who doubble your deposid is there such of broker who alouds robots and is the commision low enough for this robot

    thanks for reading i hope to get a answer from you guys soon

  30. hi ive been having the forexsteam on my forexopen broker platform and it been great trading with such a high balance but when i put it on my live account with Avatrade platform over 2 weeks with not 1 trade.. what might be the issue?

    • Hi Chris, you likely just have to set MM to false and set your own lot size if it’s a smaller account. You should probably demo trade the same account size as your live account first to get a feel for it.

      • yeah but ive already done that… trading with a smaller lot size, its set to 0.01and still no trade for weeks

        • Check you’ve installed it correctly, or try another broker. Make sure you use the MT4 version in MT4 and the MT5 version in MT5. The robot has been trading for 10 years on thousands of accounts. There has to be an issue on your end. Also try emailing support support.

        • Steam is easy to install and use, I am no good with computer, but I have 4 account running all trading. Just watch the easy video.

          My account are grow 25% every month on FXSteam.

  31. Hi all,

    Has any tested V10 with the trailing stop feature

  32. I am still using Forex Steam, but I am using Version 10.

    It works quite well, but I do avoid news lately manually so I hope they bring this feature back.

    The max spread feature has also been very helpful for me, and I’ve lowed this from 100 to 8. It doesn’t trade as often, but it almost never loses with a tight spread.

  33. Hi, I’ve recently purchased the forex steam, downloaded it and the file came up as a WinRAR archive format, so from there how do i get the bot onto my forexOpen mt4 trading platform

  34. Hi Guys ! I joined the club 🙂

    What type of account do you use? Normal spreads and no commission or low spreads + commission? I.e: In IC Markets they are called Raw Spread account type and Standard account type.

  35. Hi guys, my default settings on Forex Steam V10 have TradeOnFriday set to TRUE. Why do I read people saying it doesn’t trade on Fridays?

    Another question, should I change the MAGIC number if I put the robot in 3 charts in the same MT4 account?

    • This option is available, but at this time it does not trade Fridays. Yes, but I only recommend 1 pair at a time for new traders.

      • Thanks Admin !

        I’m using the Time Restricted strategy. I read in the comments below that it’s ok to put it in 2-3 pairs with this strategy. I’m in demo anyways.

        How much is the MAX drawdown you saw in EURUSD with the Time Restricted strategy? Thanks.

        • Depends on how many trades you let it trade at once. If you only let it trade one trade at a time the drawdown will always be very low.

          • Thanks ! Can I use this robot with a 1:30 leverage on a $1000 account?

            I have MM set to true. So it’s currently taking a size of 0.2 aprox in my DEMO account. I only let it take 1 trade at a time.

          • Yes you can. Test on demo to see what you prefer most.

          • I checked with my broker and I can’t run this robot with a 1:30 margin and a $1000 account because if it tries to open a second position at the same time of a size about 0.2 I would hit a margin call. I need a higher margin.

          • We only open 1 position at a time.

          • That’s correct but I want to run it in 3 pairs at the same time. All in DEMO at first of course. But I need a broker that will allow me to do this in the future.

          • Unless you are doing time restricted, I recommend 1 pair at a time.

          • Yes, I’m doing Time Restricted with 60 / 6 and retrace FALSE. I also have other combinations of the settings in other DEMO accounts.

            Do you prefer using a Standard account or a low spread + commission account for this robot? Thanks!

  36. i bought it , but i did not receive the necessary email to complete the transactions , i sent an e-mail to them 🙁 how long do they reply to the mail i sent?

    • Check your junk mail. Steam support answers messages very quickly, and likely have already responded to you. You will be emailed complete access immediately, automatically when you purchase. So, check your email thoroughly.

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