ForexRobotNation.com – Best Forex Robot & Expert Advisor Reviews Forex Robot, Expert Advisor 
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.
Contents
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.
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:
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.
Personal Tests:
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
4.2Pros
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
Hello all,
Did someone use Trailing Stop?
If yes…its only necessary to change Trailing Stop to True?
Or i need to do something else also?
Thank you in advance for the help guys..
Cheers
You would likely want to turn retrace off, and set the trailing stop numbers to what you want them to be. Or, leave them default, up to you.
using steam with a TP 7 everything else default and i’ve won 32 straight trades. from me to you, see if it works.
im using the same settings…only the TP is 7…..so far so good for me too!
I had several SL…but still in profit!
Barry…
Are you using the recommended broker?
FXOpen?
Hello All,
I finally figured out the issue and things seem to be going well. I believe my broker was the issue…I don’t believe we can discuss brokers here but if you’re having issues with the Forex Steam EA using default settings try switching to another broker that allows EAs to see if results differ. So glad I’m running well again. ๐
I am interested to purchase the Forex Steam EA but cannot find any recent verified accounts for this EA. I see that there are many comments but no mention of updated accounts. Can you please advise.
There are updated accounts in the review, and on their site. I recommend checking those out.
Hello guys,
I have the the ForexSteam since one week. For now i have only 5 trades placed..all hit the TP.
But is is possible to increase the placed order by daily basis?
I have changed the TP do 6 and SL to 60 pips!
Also i have set MM to FALSE….
VPS is already running…..
If you have some tips guys…..i will really appreciate it…
Thanks
5 trades, 5 wins, very nice. The amount of trades depends on the market but having a 5/5 week isn’t a bad thing.
Hello Admin,
Yes….really nice results actually! I’m happy with that. In the site of ForexSteam they mentioned that normally we will have between 1 and 4 trades per day. But as you mentioned it depends on the market conditions?
In this case we can have also days without any trades i think?
I want to be sure that i’m using the correct settings. Also the support is great..i have already asked them a lots of questions and i received all the necessary answers. This is my first EA and im glad that i found it….because of you of course….next step is ForexFury….
Excellent Dobromir!
More that 32 trades…and only 1 that hit SL…..this EA is amazing….
The interesting is that the SL was hit on their recommended broker Fxopen…but the same trade hit the TP on iCmarket….
That would be due to the spreads being different – IC Markets has one of the lowest spreads around (EURUSD is 0.0 most of the time!).
I throoughly recommend IC Markets and don’t use anyone else now.
Hi,
When is the new version of steam going to be released which month does anyone know i read on the members in the stem ?
The next major release is not yet announced, but it will be free for all current members.
Hi Admin
Can you suggest me the minimum amount to start with forex steam. ? Also suggest me an honest broker (International) with whom I can work smoothly.
Can start as low as $100 on a micro account. See brokers here https://forexrobotnation.com/best-forex-brokers/
Hi Admin, also new to your site and so excited to have found you. Started trading with Steam on Monday, but as I am new to all this I was wondering what the best advice would be that you can give me to ensure that Steam trades successfully and continue to be profitable?
I run the default settings right now, but you should run multiple demo accounts with different tweaks to the TP/SL etc. Many of the readers here are using their own settings, some share, but most once they find the secret sauce, keep it to themselves. The spoils of war.
admin does the ea work best with a 40 pip stoploss or a 20 pip stoploss, becasue if its 40 pips or higher it will be tuff to cover the losses
also the hedging feature does it work better than a stoploss or not really as good
Out of those options I would choose 40 pips, but I would also recommend adjusting the retrace feature. For new traders, I recommend running default settings on one account at least, and then using the other available accounts to test different settings like these.
How or what should a person adjust pipstick or retrace to? Pipstick = 40 and PipsRetrace = 20
If I change stoploss to 40, should I change Pipstick = 20 and PipsRetrace = 10
I thank you for any advice.
Juhl
Hi Juhl, these don’t need to be changed. I just use the default settings that come with the system when you drop it on your chart the first time.
Hi bhash, I agree with admin. Actually something that I have noticed is that Steam automatically readjusts the take profit value if the wave is going in the wrong direction, helping you minimize losses. I had it at 40 and took it back to 90 because I lost one entry which retraced to about 45 pips.
On the other side, I recommend you to lower your risk while the system adjusts. During my second day running it I lost 70 dollars because the wave went the opposite direction and never retraced, so Steam didn’t have a chance to come out with a smaller loss.
After that I have have only wins (averaging 40 dollars each), and a 11 dollars loss.
hello, i bought it but the payment isn’t work, how?
If payment isn’t working, I recommend that you email support.
Hi, is anyone using the Hedge, and if so how does it work? Have mine set for True but nothing different happens. Thanks
Hi David, you have to have a broker that allows hedging. Most, do not allow hedging.
Hi and thanks for your review on Forexsteam. I actually purchased the robot but unfortunately I am new to EAs and dont really know how to use it. I have checked all defalt settings and even changed ECN to true but the robot isn’t trading.
Can you advise some settings I can play with for an account of say USD 500?
Best Regards
Hi Stephen, I recommend using the default settings. They work with all account sizes. If the EA isn’t trading either wait for a trade, or set the news filter to false so you receive more opportunities.
Is there anything you need to change to use other pairs than EURUSD?
Not in my experience David. I would look into trading hours when the market is ranging most though, and avoiding other hours. This is always a great way of increasing your winning percentage with Steam.
Perfect week.
Looks like steam is starting to roll again after the Christmas break. I didn’t have a single loss this week, and I expect that to continue!
blair are you keeping a 20 pip stoploss ? also how many trades do you get a day approx 1 to 2 sometimes 3 max ?
admin have been running forex steam on 10 pairs with a 10 pip tp and a 20 pip dl , not keeping the 90 pip sl will it still perform overall with all these pairs with a 10 pip tp and 20 pip sl have u tried it this way with the ea
I have not tested this. Let me know how it goes for you. Always a good idea to do different tests.
I have been using 40 pips loss. Good results so far. I moved it to 30 and had one loss this time because the correction was about 32 pips. 40 has been working good so far.
Hi All,
I got Steam V9 2 days ago. First day it did 4 trades, but no trade after that. I installed how the manual said.
How many trades are the average per day? 1-4 trades/day?
In the expert “news” section I have only one issue: “FFCal: cannot delete file C:\Program Files\MetaTrader 4 …\experts\files\24-1-2018-EURUSD5-FFCal.xml.” But how I know it doen’t affect to much.
Any idea?
Thanks!
Hi Chris, just haven’t been any trades. There are no issues, and you can ignore that error. You will get more than enough trades from Steam.
Could you please let me know which is the best set up for forex steam. Is it the default one the best one? what would you suggest?
thanks
I generally use defaults, but I know lots of my readers test different settings and do very well in making the software trade a way that fits their preferences.
More big wins ahead!
I’ve been testing different trade times. Only trading a few hours here and there, instead of running it 24/5.
So far, I’m at 100% wins in 1.5 months, but it’s still early.
Hello, Lorenzo!
Which broker do you use with Steam Light V9?
Thanks!
Hi, I HAVE LIVE ACCOUNT WITH FOREX.COM AND I’D LIKE TO KNOW IF I CAN USE FOREX STEAM WITH IT.
THANKS
Yes Eduardo, you can.
I read that both versions normal & light can be used on the same account – for sure in their different time frames.
But can I also use Fury forex with steam forex together on one account? Or do they interfere with each other in some way?
I generally run them on different accounts, but I’ve heard it works fine. They are both trading different pairs.
Anyone testing some new settings for 2018 I can piggyback on? ๐
I’m working on some, if it goes well I’ll let you know in a couple of weeks.
I see that we are on holiday break, but I’ve won 7 straight trades.
Can I keep trading if I just watch it close during the holidays?
Yes, you can.
Or at least, I have, and I’ve won a lot of trades.
There were a few trades I just stopped because the market was looking erratic, but that’s it.
I’m a long time owner of Forex Steam.
Signed up in the first year, and now I’ve been using it around 6 years.
It’s by far the most complete EA I’ve ever used, and I can’t believe that it only cost me $120. This is the robot that I first started with, and it’s continued to perform all these years.
If you are looking for a new years resolution, pick up a robot, and win more trades.
May I know what is the profit return per month for running in just a 5 mins time frame EUR/USD
Hi Yafa, the EA is generally around 25-40% per month.
Hello Admin, take me a question:
I can buy Steam and Fury and use it for a $ 1,000.00 account (the 2 robots on the same account) Or do you think they better negotiate each robot on a 500 $ account? You know, if I buy they send me the .set with the best profitability configuration?
You can do either options. I generally put them on separate accounts. Yes, you receive the .SET files.
Using the two together, how many% do I get monthly?
The aim would be 40-60%.
Hi Admin. For forex steam i did not receive any .SET file when I subscribed in october 2017.
I am using the default .SET, it is built into the EA.
Is this with the default settings? Which market sessions? It would be nice to replicate successful settings.
Hi Admin, Do you used auto lot MM is 10% for profit return 25-40% per month..?
Yes, I use the built in risk at around 10% generally.
hi everyone,
i’ve had Steam (& fury) for 2 weeks. Started with USD2000 account on ThinkMarkets. its’ been going well and i can say that i have confidence in the EAs and the team of developers. Thank you Patrick for reviewing these two awesome EA’s.
As a total newbie to the currency market (i dont have any prior experience in manual trading,signals, copytrading or EAs) i want to list down a few things i’ve learnt over the past two weeks and hope it will be a rough guide to other complete NEWBIES who want to get in on forex trading with Steam or Fury.
1. Always put your EA’s on demo and see how it operates. On demo, you can observe and learn how to use MT4 trading platform & the EA and make mistakes and try ideas/strategies/control emotions
2. Learn how to calculate your Risk Percentage and lot size (although the EAs default settings already has that done for you) you may want to increase / reduce your risk setting to something more comfortable..an amount your are willing to give up incase of a (SL) stop loss.. and still sleep well at night without fussing.
Eg:1%, 5%, 10%, 20% etc.. the more you risk, the more you make… but if it does hit SL (StopLoss) that is also how much you will loose too. everyone’s risk level is different according your personality.
3. watch videos from forex traders who talk about controlling your emotions. A trade placed by the EA may swing in the wrong direction..but will ultimately come back th right way and make you money. if you sit through and watch it trade, your emotions may go on a roller coaster ride when you the minus sign increase, causing you to inrtervnene to cut thr trade prematurely. so learning to control your emotions is a must… or you’ll learn the hard way!
4. Trust the EAs, they were developed to win most (not all) trades as you can see from their websites. Let the EAs do their thing.
5. Keep a hard copy list of dates all the big speeches, reports and holidays related to your EAs.
for example: EURUSD inlcudes reports from Germany, USA and significant EU member countries, not just EU speeches & reports
Cautious traders & newbies should disable the EA from trading that day. why? Profit gained during calm period is better preserved than trying to win 10 pips during big news and risk loosing 10% of your capital. be patient and wait for calmer waters before trading again.
6. Also its a very wise idea disable the EAs on the 1st & last TRADING DAY (not calendar day) of the each month. (i learnt that the hard way, when i lost 10% of my funds)…but i can still sleep well because that risk i am willing to part with if ever Steam or Fury hits SL.
7. Greed is not your friend. Greed does not have a brain to think rationally. Make rationality & patience your best friends. Patience & Rationality will one day introduce you to another friend called Wealth & his wife Luxury. Greed will introduce you to Ms Stress and her husband Mr Poverty… and thier grandfather, Mr Give Up.
8. Obeserve which days the EAs does well. some traders, dont trade on Mondays too but that is up to you.
if there anymore good advice, tip, insights… please contribute too ๐
These are my settings for Steam & Fury:
Steam : all default except TP (take profit) = 4 pips
Fury : all default except risk = 10%
disable during 1st & last trading day
disable during big news, events, etc
broker :ThinkMarkets (formally ThinkForex)
good broker for those open a Pro Account.
Watch out for a Korean War! I wont be trading when it does happen because it may involve the US.
All the best & happy trading ๐ ๐ ๐
Good information, thank you.
i try fury and win lot, now i try steam so i use 2, and i tell you if as good as fury soon.
how are your recent results?
i am now try steam for little bit and it win nice. i want to see more, right now up +30 pips, so it is good like i like.
Great Bruno, you’ll have a lot of success with Steam.
I’m 3 months in and loving every minute of it.
I suggest light version 9.
Love Steam.
Can’t wait for more free updates!
Me too!
Started testing GBPUSD this week. All wins so far.
Hi Anne, could you please share the settings for your GBPUSD test. Thanks in advance !
Helllo Admin
I just bought FXSteam and followed all the steps but it seem that my MAC is not reading or executing the exe.4 files that I’ve download .Any advice on how to proceed next.
Cheers
Email support Jay, they will fix you up.
the indicator FFCAL I have to insert it in the chart??
in my mt4 I opened 8 graphs, I have to change the magic number 99999?
FFCAL does not have to be placed on the chart.
Hi I bought the robot, but I don’t have the members login (user)
It’s sent to you automatically. It may be in your spam folder, check there, and email support they’ll resolve this right away.
for moment 0 Operation, (active for 12 hours)
If it continues without a trade just turn the news filter off.
Hi all,
Just wanted to introduce myself here. I purchased Steam a couple of days ago and we’ll see how goes ๐
Welcome Jonathan.
How’s your experience?
Iโll give it a good testing on a few demo accounts and report back on my findings.
Hi Admin,
What setting must the ECN be if im using a STP account ? (True or False)
I am using a STP account and little bit confused on this. Will there be any problem if i set ECN as true on a STP account ?
Leave ECN set to TRUE. There will be no issue. This is essentially just to ensure the software is working with 5 digit brokers, which they all are now. So, just leave it on default settings and you will be fine.
i use for long time and it is good at trade, i like lot.
Hi Admin, I would like to know the Mt4live results are based on Forex Steam V5 or V9 ?
This would be all versions, up until this point. The recent results would be using the most recent version.
Just checking in.
Week going well so far.
Do results vary for each broker?
There are no drastic changes based on brokerage. There are currently hundreds of brokers being utilized.
Back at it today.
4 wins under my belt already, and there’s not much room under that belt I tell you ๐
Good one Jack!
me too. 5 trade win all of them XD
A really good week.
Saturday night, and I’m wishing it was Monday morning right now because I’d rather be watching Steam trade than doing anything else lately.
I am really enjoying trading in Forex for the first time in a long time. Job well done.
Agreed. Spent a few hours Sunday looking at ALL the reviews here; Most appear to be scams or expensive, or both. I have had more success with Steam than any other robot. I am looking forward to the next release.
Hi Admin,
Testing Forexsteam on my demo account and its amazing till now just with the default settings and recommended broker. Total 5 trades and all win. But i see your mt4live.com there are no trades. Is there any specific reason for you not trading from Sep 27, 2017 ?
My MT4 version was old, I had to update, so I missed the trades. Not happy that I missed 5 straight wins.
Hi admin, How do I disable the PipsStick?? Thanks!
Set the retrace to false.
But if I disable it, will my PipsRetrace continue to work?
Without pipstick retrace won’t work, so I assume you don’t want retrace. Questions like these are probably better answered by emailing support.
Hi , Forex Steam EA can work at IC markets Broker ?
Yes it does Simon
Thanks admin , where i get a VPS coupon ?
There’s no VPS coupon.
Hi Simon,
I’m currently using IC Markets – they’re very good.
They also offer a free VPS if your volume is more than 15 lots per month.
Thanks PaulDV
If u want buy VPS ,
interserver
Coupon :: “facebook50” for 1st month 50% off . ๐
Hello Paul,
I just want to follow up on the ALR? How has your testing been so far? Can you update us on the results so far? Any positives to draw from?
Your contributions to this thread have been very rewarding to my use of Steam.
Anticipating…
Hi James,
I am no longer using ALR. Instead, I am using Loss Recovery Trader (LRT). This provides the same functionality (actually a lot more functionality) for less than one month’s fee for ALR. There is a review of LRT here on FRN.
My setup has changed significantly over the last 3 months, and the results can be seen on my myfxbook page: https://www.myfxbook.com/members/PaulDV/fats-demo/2264112
I have tried many parameter settings for LRT over the last couple of months, some with disasterous results!, and believe I have now got a workable set that allows a set-and-forget approach. But I continue to monitor and tweak as appropriate.
Hi Paul,
Your myfxbook results are really impressive – the hedging capability of Loss Recovery Trader and your setting of it seem to be on point.
Couple of questions though:
1. Is “Loss Recovery Trader” the actual name of the EA or Loss Recovery Trader is just a generic for EAs specializing in hedging?
2. May I have the link where to buy it
3. May I have the link where it is reviewed here on FRN (I don’t seem to find it)
4. Your exact current settings for Loss Recovery Trader
Please forgive me for a long list of questions ๐ ๐
Yes, the name is Loss Recovery Trader.
The review (and purchase) link is: https://forexrobotnation.com/ea-review-loss-recovery-trader/
I use different settings for each currency pair, and these are detailed on my forum.
Good day Sir Paul,
Are you still using ic markets?
Hi Andra,
Yes I am.
I contacted FXGLORY, and what I was told is that they allow US citizens to hedge (no stipulations). Is this true? I recall in you leaving them for IC Markets. Plan to use SAFETY NET EA in conjunction with Steam EA.
Sorry, but I’ve never used fxglory so I can’t comment.
I do, however, use IC Markets.
I’ll look up the ea you mention and take a look.
The SAFETY NET EA is rather unique. Its functionality makes it compliant ๐
Is anyone running Forex Steam & Forex Fury on one MT4 account? Demo or Live? And if so how have your results been?
Hi Lee, this is the Steam review. If you scroll down through the comments you will see hundreds of traders using the system successfully.
I understand that, I bought both EA’s the other day. I was just curious if anyone was running both on one account.
I imagine it’s quite normal. Neither would interfere with each other.
I do and both are magnificent in their own way. You might just have a do a little tweaking and testing on demo first to get the best settings that you are comfortable with and then move to live account. My suggestion on stop loss is 90 for both Steam and Fury and take profit should be anywhere between 5 and 7.
hey Lee. i run both on one of my accounts. work perfectly. happy trading
Good day,
Trading with two EA’s, what profit issues do you experience as it relates to the spread? What’s your TP? Finally, per your experience is it at all worth having two?
I apologize for being inquisitive but I appreciate your reply, thx.
I guess you should check the stop-out level with your broker. ft it’s below 50%, it will be best to run the EAs on different account. The required margin for open positions on Fury is high. So your broker may stop you out even when the EA still goes on to win the trade.
for anyone whos dragging their feet, wondering if forex steam is for real, or just hype, take it from me, its for real. its totally awsome. will it get you rich quick? hell no. thats not the point. but it will compound into a real nest egg if you give it chance, and understand risk/reward.
dont bet the house, dont interfere with trades, just let it do its thing, and keep an eye on the BIG news. i’ve just started off 2 new accounts, around 4 weeks ago, starting at ยฃ200. there both at the ยฃ450 area now, currently trading ยฃ1.50 a pip. this is a slightly higher risk strat, as if the worst case 90 pip loss did happen, then its a 25% wipe out. but, tbh, it almost never happens, and if your savvy, you’ll just turn it off on BIG news days, or atleast, make sure its not in a trade a good few hours b4 the event. i’ll turn my risk down in a few monthe, but will always aim for around 50% monthly, min, maybe 75% when i get the other pairs back running in the asian session.. compounded, thats a scarey sum of money after 12 months. ok, 75 % monthly is a bit hopefull, but im getting that right now. with just 1 pair. after 12 months, compounded, its over 188k. half that for lower risk, your still onto a winner. buy forex steam. run it. enjoy it. and be patient. it will give you a great income. thanks for reading.
Wow Kelvin, I’m really impressed by your enthusiasm, and happy to hear of your success so far!
What broker do you use?
i usr IG here in the UK. great broker. gr8 spreads
Hi Admin,
Where to apply the coupon code FRN-KIQQ-FRN if making payment via paypal ?
The coupon is not available via PayPal. PayPal order has no tax, so it makes out to be about the same.
hello. today i have purchase this EA. by the way. how many percentage / month if use default setting with light mode if my deposit is 500$?
Hi Iqbal, I recommend emailing support for figures like these. I aim for 10-30% per month.
finally i start with 1000$. but what the ideal lot size for 1000$ ?
I recommend testing different lot sizes on demo accounts to see what you prefer. The ideal is different for each trader, depending on their trading style and personal risk profile.
Hi Iqbal,
How are the results so far?
Hello. I’m also new, [trying it again, after 4 years]. Has anyone had a EUR/USD trade in the last 36 hours? It appears to be working fine, but I need to make sure. The Forex Steam website has the “Newest Trading Result’ on 9-18. Thank you
Wow, many updates since you last used Steam! I recommend setting your news filter to false. There have been trades.
You may be on to something. My alert messages say, “0 minutes until news for EUR/USD…………” I’ll bet those alerts would have been trades. Thank you
Still not trading. Set NEWS FILTER to FALSE and high, medium, low and speak news to FALSE. I’ll contact the owner and check back here in case anyone has any other suggestions.
Ya, email support, they will look at your setup and be able to resolves any issues quickly.
It appears that my ping speed is too slow [1.20ms – 1.35ms], to support my broker’s trading terminal. When I disconnect my VPN, the speed is fine, [57ms]. I guess I have to use a VPS.
Friends, I would like to know if the news filter is false, then there might be trades even during news time which is risky. Is that fine ? :O
Hi Shabby,
You are correct: if the news filter is off, then Steam could enter a trade during high news volatility.
If you trade with the news filter off, then you should monitor for news yourself and manually turn off Steam at least an hour before major news/speeches, and turn it back on again about an hour afterwards.
Of course, you CAN simply trade straight through the news, but as I think you’re already aware, this can be very dangrous, and is basically gambling.
Hi Paul, Thanks for your kind reply. Yes, you are very right. I have got steam and i am running it with default settings with the news filter ON and its working fine without any issues. The beauty is it does everything on its own ๐
Hello Everybody,
I am new with steam….. was there any trade this week?
I have it on EURUSD GBPUSD AUDUSD USDCAD USDCHF USDJPY and EURJPY a STP Demo with FxOpen,
but had only one on Eur/Usd yesterday!
is it normal?
(I read previous posts….. FAQ….. settings are ok)
I’ve had two wins this week. I can’t speak on the other pairs, as I’m only using EURUSD at this point in time.
Very slow week this week Ali – the Japanese bank holiday set the tone for the week, and for me Steam took a total of 9 trades all week, which is way fewer than it normally takes.
Nect week is shaping up to be a bumper week though!
hey paul. just thought id check in and see how your getting on with the other pairs we were trading during the asian session. i had to borrow money from my accounts for a few months, so only just getting back in to it tbh. i started with 200 around 3 weeks ago and am now at 450, but thats only trading the EUR/USD. are you still trading the other pairs in the asian session, and if so, whats the win ratio, if your able to share. i’m looking to really start building up these accounts now, as i would like one of them to pay my monthly bills soon while i trade stocks. any insight would be gr8. hope your killing it bud. cheers
Hi Kelvin! 125% return on just EURUSD? Wow! I might have to rethink things!
I moved brokers due to margin issues and my latest results can be seen here: https://www.myfxbook.com/members/PaulDV/fats-live/2249757
The settings and setup are on my forum (link on myfxbook page).
I’m currently getting into back-testing (MT4 never ceases to amaze me!) and I’m trialling a couple of settings on demo (also on myfxbook).
I would be happy to get your input and maybe push things further.
hey Paul. been a while. look me up on twitter dude, then DM me and well talk steam, and see whats what.
kelvo72
@kelvo1972
Hello Paul, Kelvin and Admin. Trust you guys are really trading great this period.
A quick one here please. Would you guys suggest turning off Steam and Fury for the whole of the 1st week of October as a result of the Chinese holidays? I don’t know how that will affect the global market really and don’t want to take a very expensive risk with my live account. Your opinions will be highly appreciated.
Cheers!
It’s a smart idea James.
Paul, what settings are you using for EUR/USD? Asian session only? Also, are you allowing more than one trade to be open at a time?
Thanks for all your wonderful posts, much appreciated!!
Hi Juhl,
Yes, Asian session only (00:00-06:00), SL=90, TP=6, retrace_exit=false
Paul, thank you much.
What do you put for Maxtrades? False Retrace, do you use Trailing stop loss?
My broker is GMT+2, at one time I set hours of trading to 0000-0600 and no trades were executed, I have to find a way to set it only for Asian session.
Hi Juhl,
No, I don’t use trailing stop loss either.
If your broker is GMT+2 then the Asian times would be 02:00-08:00.
Thank you for your replies…. ๐
3 WINS TODAY! 6 ON THE WEEK!
I have just banked my first trade with Forex Steam. I installed it last night. I hope it treats me well. I also need to move to an ECN broker to see bigger profit, the spread killed me a little
Sounds good M-Tiz, keep it up!
Yes, ECN broker all the way M-Tiz! The commissions are a little on the high side, but the spreads are what you’re really after with Steam.
Hi Paul,
It’s me again.
My broker time is GMT +3 what would be the hours for Asian Session for GMT +3? Just so that I make sure I put in correct settings ๐ ๐
Is TP means takeprofit right?
Yes.
Hello, I don’t have any trades since 31/8, is that normal?
Hi Daniel, no, there have been trades. Try turning off your news filter.
Hi Admin,
Which broker do you use nowadays with Forex Steam Light?
Tks, George.
Hi George, I’m using the recommended broker in the Steam members area.
The one recommended by the ForxSteam team (FXOpen) is good, and I’ve been using them up until now without any problems.
That said, I will be changing shortly, because I’m also using another EA that uses hedging, and unfortunately FXOpen don’t support margin netting. If you’re solely using Steam, then they are pretty good.
PaulDV, thanks for the help!! Can you tell me what kind of account you use with the FxOpen: ECN or STP? Tks!
I use ECN myself.
The key difference between the two is that STP has no commission but larger spreads.
Hi PaulDV, thanks for your reply!
I also use ECN account with FxOpen…
I have two questions:
1. On holidays, do you turn off your EA manually or this is done automatically?
2. Does your Holiday filter work correctly? My filter is defective, I think. It is enabled, but my EA even runs on holiday dates (should not). Do you know how to fix it?
Tks!
Hi George,
No, the holiday filter doesn’t seem to be working, and I have emailed support about it. I’ll update you with their reply.
This filter is built-in now. I’ll see if it’s working for me.
I also have tried updating the .csv file with recent holiday events but the EA still could not read from it. It still trades during holidays so I just keep track of those holidays and stop Steam manually from trading on such days (though Steam still does well during holidays from my demo tests); thanks to PaulDV’s guide. If this feature could work then Steam will just be a “set-and-forget” EA and one of the best of the best EAs out there.
Support have said they will look into why the holiday filter doesn’t seem to be working.
As Admin says, it’s built in now, so you no longer need the .csv file, but it doesn’t seem to be working by default.
I think you might need to set the ‘DaysAfterHoliday’ to ‘1’. I’ll test this out and let you know.
The next holiday according to forexfactory is Monday 18th September (Japan), so we have a while to wait ๐
As suspected, even though I made a few settings, the holiday filter doesn’t appear to be working, so it’s best to manually switch off Steam before the session containing the bank holiday, and then turning it back on the following day.
Hi, new user of Steam here, can someone please advise if the Holiday filter is working properly now?
Also, how much funds does one need to run per pair of currency? I am considering running 2-3 pairs simultaneously. I’ve seen that it’s recommended to have around $500 for EURUSD, so if running 3 pairs would it be approximately $1,500?
Thanks!
Hello Paul,
Please how do you manually stop Steam from trading on the first and last day of the month without stopping my other EA which is on the same MT4? I use a VPS
Hi James,
The simplest method is to run Steam in its own instance of MT4.
Alternatively, you can click on the smiley face and then uncheck the Allow Live Trading checkbox in the settings. It’s a bit more fiddly, but works.
Hi All: I took Hornq’s advice and put my take profit at 7. Doing very well with that setting. Earlier today Steam made a 7 pip profit, and then EURUSD moved another 70 pips in the same direction. Does anyone have any ideas on how to grab those smaller gains, while still allowing the trade to run a while? I think using the breakeven at, breakeven plus, and the trailing stop features might get us there, but I can’t quite wrap my head around how to use them. Thanks for all your comments.
Hi Steve,
I haven’t used the trailing stop feature myself, but my understanding is that if you set it to true, the takeprofit setting is ignored, and your trade acts as though there is no TP, relying on the trailing stop to lock in profits as the price rises.
I am interested in this question too. Steve: did you find the way to set up this in steam?
Thanks
I wrote to another trader who does a lot of work with EAs. His suggestion is to run Steam on 2 charts simultaneously, with one chart using a 7 pip take profit(I’m using 7 right now); and the second chart using half the risk of the first, and locking in a 2 pip profit when the trade reaches 6 pips. Actually you wouldn’t even need to lock in a profit until the trade has gone beyond the 6 pips. Or you could just have a Stop Loss at 90 or 50 or wherever with no trailing stop lock in. I’m having a hard time trying to optimize Steam, so it’s hard to know what strategy would work best. But in general, two charts, with two different strategies might allow us to catch a good trend. However, there might be an issue with FIFO if you trade in the good old USA like I do. Let me know your thoughts on this please.
I started with a new broker, Fxglory and it appears that FIFO and hedging is allowed with Fxglory. I too live in the United States, in California. So far I like this new broker, it definitely allows me to open up more than one trade on the same pair and have different stop losses and/or take profit on each open trade.
Thanks Juhl. I may give a try some day!
Thank you very much Steve. unfortunately I am in the US too ๐
What broker do you use?
Forex.com. A lot of trouble and very few trades. Thinking to switch broker, do u have any suggestions? Thanks
I finally decided on Forex.com instead of Oanda. Since August 24, Steam has traded around 45 trades on Forex.com. Usually Technology and I don’t particularly get along, so this is nice. I’m using their VPS for now. Don’t know if I can help with your “trouble”, but if you give details maybe I can suggest something. Could be the VPS you’re using.
I tested Steam on Oanda and FXOpen and had way more trades on FXOpen due to the differences in spreads. I had several instances where trades would hit TP on FXOpen but due to the differences in spread, the Oanda trade would miss the TP and retrace, causing the trade to stay open for longer – sometimes several hoursu longer!
I have now moved to IC Markets as their spreads are even tighter, and they support margin netting which is a must have if you’re using hedging (as I do).