Review of the Ivybot EA
| EA Name | Currency Pairs | Timeframe | Strategy | ECN | 4&5 Digits | Take Profit | Stop Loss | Home Page |
| Ivybot | EURUSD / EURJPY / USDCHF / USDJPY | H1 | Scalping / Martingale | No | Yes | 39-110 | None | Ivybot Website |
Performance (Ivybot results)
Default Ivybot Settings
Update: April 10th, 2010 (Account got blown, but with relatively high risk settings for this account size)
Update (Sunday, April 11th, 2010) – Looks like the -$2300.00 Floating P/L Ivybottook into the weekend didn’t make it on the Sunday evening market opening. Ivybot tripled the account size in less than two weeks, but at a very high risk. I am going to optimize for some new Ivybot settings and give it another shot because it’s not too often you get an EA that can triple an account within two weeks. I will post the settings I will be using when I get it up on a new mt4stats account.
License
Ivy Bot comes with unlimited license. As a proof of license you need to enter the clickbank receipt code.
Strategy
Scalping with some martingale.
Recommended Brokers
Any and all brokers. Try FXOpen or IamFX for great spreads and execution, perfect for EA trading.
Conclusion
Default settings tripled the account in less than two weeks, but carried a $2300 floating PL into a weekend where it ended up wipping the entire account when the markets re-opened. I still think Ivybot has potential so I am not completely writing it off. Just stay away from the default settings. I will update this when I start testing my new Ivybot settings.
Update: (April 16th, 2010) New Ivybot test account is up with new custom, lower risk settings. So far its off to a great start, lets see if it can keep the drawdown at bay.
Safe To Buy?
YES!
Ivybot has been approved for you to purchase based on its profitability, refund policy, and my custom settings. (you can get the Ivybot settings from the VIP section for free)
Overall Rating
Be warned that IvyBot was made by Mark Trenton…the same guy that sold USbot.
Hello Admin,have you heard about the Fx promaker?
tks. wildeactive
Hello Admin!
Congrats on the site very professional.
I have some questions and requests to you.
* Could you pass me the configuration used in the test IvyBot.
* In your opinion which system is more secure and profitable, or Forex IvyBot Hacked?
No more, thank you for response
*** Could send me by email
Hug
Jorge Luiz
Brazil
I am extremely disappointed! 2nd time account is wiped out. It was really doing great perhaps it need little tweaking to avoid such sharp corners as on sunday.
Hi Admin, great site! Same here, unable to locate your new Ivybot settings to have a look.
Hi Arshad, what settings are you using? Default?
Hi, I am a new user on this great site. I have received VIP password but was not able to locate IvyBot settings. I would appreciate if you locate me to these new settings.
I am very curious how would we see the current drawdown !
At cfbiivybot.mt4stats.com , Analysis tab doesn’t show any drawdown values. If you open account at yfxbook.com, they show relative drawdowns very well.
Thanks.
which broker did u install the EA?
Not sure your settings for IVYBOT are clear. My version (both 5.0 and 5.2) do not have the variables your settings are suggesting. Am I missing something?
I am using a much older version right now, I will be upgrading it to 5.2 soon and will update the settings accordingly.
I have a Ivybot 5.2 . Can you tell me Which version did you test?
Well Ivybot has tripled the account in less than two weeks, but at what cost? The current draw down is $1200+ right now. Not the safest way to trade that’s for sure. Perhaps some optimized settings will help, but I will let this account run it’s course on default settings for now.