Forex Ivybot

Posted by Deon on August 6, 2009 · 1 Comment

Ivybot Forex Expert Advisor

The Professional Forex Trading Robot

Ivybot is a new expert advisor brought to us from the guys that made FAP Turbo. Whether this is just a repackaging of FAP Turbo, or a genuinely new expert advisor remains to be seen. In terms of sales and therefore perceived popularity, Ivybot has more than excelled. Within just a few hours from launch, Ivybot has been scooped up by thousands of eager buyers.

A few advantages of Ivybot:

With so many expert advisors unable to cope with the new No Hedging and FIFO rules set by the NFA, it is good to see an expert advisor that fully copes with these limitations.
Ivybot seems to surpass pretty much every other expert advisor in terms of performance, yet whether or not it will actually deliver to the customers what it promises, now that’s another question.
A low drawdown and therefore proper risk management should be the first concern of every sensible trader, and with that in mind it is good to see that Ivybot has a Automated Risk Scaling Feature as well as a Build in Loss Prevention Feature.
Ivybot trades multiple currencies with a different ea for each currency. This means that the expert advisor can be optimized for each individual currency pair.
Unlimited updates is something I always look for in a new expert advisor. If an expert advisor is not updated, it will be pretty much worthless within a couple of months, as the markets regularly change. Ivybot promises unlimited updates.
Very easy installation has become a common feature among expert advisors, and Ivybot is no exception.
Ivybot has a High Spread Protection Feature stopping it from trading when the spread is too high, which is a very good way also of filtering out false signals during news events.

A few disadvantages of Ivybot:

Ivybot promises a lot, but there is no way of really knowing if it will deliver without actually forward testing it yourself. Fortunately it comes with a iron-clad 60-day refund period in which you can refund should it not perform.
Ivybot promises a US$500 trading bonus should you open an account with the broker which they promote. If something sounds too good to be true, read the fine print. Many of the brokerage firms these days are real scammers and be very careful with which broker you open an account.
The creators does not mention the algorithms or logic behind the program, yet they show themselves explaining very complicated mathematical algorithms. If they did use such complicated mathematical algorithms when creating the system, the disobeyed the one rule when it come to forex trading – Keep It Simple. A simple system can work in almost all market conditions, a complicated one just cannot.

My opinion:

According to the popularity and the promised features of this expert advisor, I am about to invest in it myself. However, I will immediately jump into testing it so that I have at least a few weeks testing done by the time the refund expiry period nears. Should Ivybot turn out to be a scam, I will certainly refund it. However, should it turn out to be profitable and stable, I will certainly consider trading it on a real account. In my opinion it is better to do the testing yourself. In this way you will understand the expert advisor better, and have more faith in it when it comes to live trading. Remeber, you can always refund it if it does not live up to your expectations.