RoboMiner BalanceFactor settings...default vs. manual - Official RoboMiner, RoboMiner Pro and PipStrider sales and support

ashromani · 11-03-2009, 07:54 PM

First, i like to commend you on this EA, it's truly an amazing piece of technology. I will run a demo account soon to see it in action, i am so interested to learn from it.

Should i use the default setting for the BalanceFactor or manually change it based on my account balance ? For example, i plan to use a starting balance of $2000 on a .01 micro lot for the AUD/NZD. Sadly i can't afford to trade the EURCHF right now because i lack the capital to invest in both currency pairs.

So which is better...use the BFactor default setting of 0.0 or actually manually change it to somewhere between 2500-4000? I am thinking to just use the default settings and not mess with the default BFactor at all.

Also in the future, when my balance grows and grows (hopefully) do i just leave the BFactor alone in its default settings and let the EA automatically calculate the lot sizes pretty much permanently ? Or do i manually change the BFactor from default of 0.0 to 5000 once my balance reaches $12000-$22500,etc.etc. ? Or does the EA automatically adjust the BFactor according to the Automated Balance Factor Settings chart provided in the manual ?

In other words, if i just use the EA default settings permanently for my present and future account balances, is that ok ? I understand that later when i decide to add the EURCHF pair to my account ($3500 or larger) i have to change the settings a bit according to your manual instructions, so that part is clear to me.

I hope my question isn't confusing or silly but i am sure there are other newbie traders out there or new users who are interested in this EA and have the same exact question as i do.

if you could provide an answer, i would greatly appreciate it. i will run the robot on a demo account and if it makes consistent profits (even if small) and the risk management is conservative and sound, then you have a loyal customer in me...thanks

Alex

Forex Goldmine · 11-03-2009, 08:13 PM

Hi Alex,

For new users, yes, I would recommend you stick to the default settings, as they are the most safe. As you learn how the robot works, which typically takes 6+ months, then you can play with the settings to suit your risk level.

If you download the demo, read the manual carefully (as it seems you have). You will see it has an overview of the lot sizes as they automatically change with your balance. I do recommend you let the robot handle the lot sizes until you are more skilled or want more risk.

RoboMiner II is designed to be as "hands off" as possible. You don't need to change anything unless you would like to run higher or lower risk.

Run the demo for as long as you want. I am sure you will see how great this robot can be with the default settings. A lot of users will run 2 or 3 versions at once, one low risk, one default, and one high risk so they can better understand the differences, which is very wise.

Please let us know if you have any other questions, as we would be happy to assist!

11-03-2009, 07:54 PM	#1 (permalink)
ashromani Junior Member Join Date: Nov 2009 Posts: 2	RoboMiner BalanceFactor settings...default vs. manual First, i like to commend you on this EA, it's truly an amazing piece of technology. I will run a demo account soon to see it in action, i am so interested to learn from it. Should i use the default setting for the BalanceFactor or manually change it based on my account balance ? For example, i plan to use a starting balance of $2000 on a .01 micro lot for the AUD/NZD. Sadly i can't afford to trade the EURCHF right now because i lack the capital to invest in both currency pairs. So which is better...use the BFactor default setting of 0.0 or actually manually change it to somewhere between 2500-4000? I am thinking to just use the default settings and not mess with the default BFactor at all. Also in the future, when my balance grows and grows (hopefully) do i just leave the BFactor alone in its default settings and let the EA automatically calculate the lot sizes pretty much permanently ? Or do i manually change the BFactor from default of 0.0 to 5000 once my balance reaches $12000-$22500,etc.etc. ? Or does the EA automatically adjust the BFactor according to the Automated Balance Factor Settings chart provided in the manual ? In other words, if i just use the EA default settings permanently for my present and future account balances, is that ok ? I understand that later when i decide to add the EURCHF pair to my account ($3500 or larger) i have to change the settings a bit according to your manual instructions, so that part is clear to me. I hope my question isn't confusing or silly but i am sure there are other newbie traders out there or new users who are interested in this EA and have the same exact question as i do. if you could provide an answer, i would greatly appreciate it. i will run the robot on a demo account and if it makes consistent profits (even if small) and the risk management is conservative and sound, then you have a loyal customer in me...thanks Alex

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11-03-2009, 08:13 PM	#2 (permalink)
Forex Goldmine Administrator Join Date: Jul 2009 Location: Sterling, VA, USA Posts: 138	Hi Alex, For new users, yes, I would recommend you stick to the default settings, as they are the most safe. As you learn how the robot works, which typically takes 6+ months, then you can play with the settings to suit your risk level. If you download the demo, read the manual carefully (as it seems you have). You will see it has an overview of the lot sizes as they automatically change with your balance. I do recommend you let the robot handle the lot sizes until you are more skilled or want more risk. RoboMiner II is designed to be as "hands off" as possible. You don't need to change anything unless you would like to run higher or lower risk. Run the demo for as long as you want. I am sure you will see how great this robot can be with the default settings. A lot of users will run 2 or 3 versions at once, one low risk, one default, and one high risk so they can better understand the differences, which is very wise. Please let us know if you have any other questions, as we would be happy to assist!