SetOnTrade Review

SetOnTrade Review

This is my autotrader that we have been testing on the Autotrader page and it is slowly improving with the feedback that we provide. For example, the developers have already improved the algorithms to increase profitability of up to 80% to 85%. Again, please use with caution as we all know nothing is guaranteed in the trading world. Use the signals to your advantage like within conjunction with news and technical summaries.

The developers are working hard to produce some of the things we have already suggested. These include percentage bars on the signals and strike rates and time to make trade counters, so it is all good news.

So what is SetOnTrade?

This is a platform that will place trades on currency pairs for you by combining leading indicators and generating signals to make a calculate judgement on the trades it makes for you. You can configure the software to meet your criteria by switching on or off different indicators and you can choose what currency pairs to trade. You can choose how many trades you want this system to place and how much each trade would be. It also offers money management system so you can choose from Classic, Martingale and Fibonacci.

Success rate?

The developers have said that they believe the success of the auto-trader to be in the realms of 75% to 85% as long as you keep an eye on the markets on what to trade. Of course, using a system during mass volatility will cause you problems but the indicators will try to read the charts to place the best trades for you.

Caution!

Although I have made good profit from the system this doesn’t mean that everyone will experience the same. All you have to do is watch my videos on the Auto-traders page to see the roller-coaster ride I had and there were some close calls I can tell you. However, with all the auto traders and robots I have tested this one does certainly have some promising features and it really does appear to read the markets to make good judgments on trades.

Conclusion:

Although I made a good profit from the system I think it is still a system you need to use with caution. Use it with the market news, the technicals and economics calendars to configure the settings to suite the trends of assets you choose to trade.

Ease of use
29 replies
  1. Sadiq Abubakar says:

    I test it on Demo what I found out about the software is really great. The accuracy is something else. And also I watch the software performance with the real live account, is just amazing. Am gonna stay study the software this coming weekend to see the full performance.

    Good/Poor
  2. Steve says:

    I am yes guy I will do this tomorrow I will do some autotrading see how we do, sorry guys its been a manic week although tomorrow is NFP so it could be fin on the Auto-Trader… 🙂

    Good/Poor
  3. Nic Johnson says:

    What i’ve seen so far looks good. It’s great to here the developers are willing to listen and develop the software I definately think a chart and SR on the signals would be a great asset at least then you know what your trading on!

    Good/Poor
  4. Steve Jones says:

    I have just used skylinemarkets broker with Setontrade on auto and the payouts by Skyline are only 50% whereas ther live trading site will show 68% payput for the same currency pair at the same time.

    Am i missing something here? How can we make money on such a dismal payout percentage? The aoutotrader would have to be absolutely brilliant in order to make a level stakes profit and from what I am experiencing, this is not happening for me at least.

    I would be looking for reaterr than 60 percent auto trader strike rate and a payout of at least 70% on winning trades…preferrably 80%

    I welcome all replies to this post.

    Good/Poor
    • mark caveney says:

      Hi Steve,
      I’ve been doing the same this evening with the same broker.
      My £5 trades are paying out £9.50.
      That equates to 90% ROI.
      Equation:- 5+90%= 9.50

      Good/Poor
      • Steve Jones says:

        Mark, were you trading for real with skyline or in demo mode? Demo mode gave me 90%, but actual real live was 60%. i get 70% with Binary tilt and uanble ro use tropical as new zealand is not on their list, but Australia is..not sure why.

        Good/Poor
  5. Glenn Denford says:

    I have been testing this on a demo, manly looking at trading times.
    Asian against London as I live in Australia the Asian time would be ideal, so far very good results.
    My question being a cynic of brokers is there a difference in performance between demo and live and has anyone found either of the brokers better then the others.
    It would also be good if the developers added a few more well know brokers to the list, happy with Tropical Trade and maybe binaryTilt but do not know about the other two?

    Good/Poor
  6. Steve Jones says:

    Hi Trevor, I would use 24 option too but their minimum trade amount is $24, so a larger bank required. They have an excellent reputation for being a straight up broker, so is great for those with decent size bankrolls.

    Good/Poor
  7. Trevor Hicklin says:

    Hi all I must say this set on trade is amazing what steve has been testing I have signed up to a demo account it’s doing really well it’s loosing a few but my balance is going up more winning then loosing what I have done is check the trades against my live account and it’s spot on every time where my live account is not moving SOT says to wait so I will be opening a live account
    Thanks guys

    Good/Poor
  8. craig dunnell says:

    Hi all…i have recently signed up to set on trade and currently going through the verification process with the broker binary capital markets..i have been trading for a number of months on many platforms with different brokers and of course have made looses due to lack of experience that i now have gained more of….and loosing cash on scam software.
    today i have been trading the demo account with set on trade and have made about £5000 starting with £5 per position up to £50 per position.
    I have not used the auto trader and have executed trades manually as soon as the signals pop up and it has been awesome 90% in the money.
    I have also had 2 other platforms open to use as a cross reference when executing trades with set on trade.
    Between Iqoptions and skyline markets the live rate on eur/usd on a Minuit trade were spot on but with set on trade there was a difference in the number of pips about 70% of the time….is there any reason for this?????
    there was trades in my own opinion that should have lost with set on trade but they won.
    I am so tempted to use the real account but feel once again that i may get shafted when using real cash.
    I really want to believe that set on trade software will work in my favor but i am very dubious.

    thanks
    craig

    Good/Poor
  9. Alan Edmonds says:

    Hi Steve,

    been watching your videos on set on trade and i am intetested in opening an account. i have opened a demo and seems to be working well with some of the settings you suggested. I have been assigned a broker BCM but cant seem to find a list for any others. I am new to trading and want to use a decent broker. Can you verify if BCM are ok they do have some good reports on google.

    Many Thanks

    Alan

    Good/Poor
    • Steve says:

      Hi Alan,

      When you sign up you should see a list of brokers in the drop down depending on your location around the world so you will see them all if you are from the UK but only 1 if you are from the US But BCM are pretty good to be fair…

      Please is you do use this, please be careful remember it is an autotrader at the end of the day and I would hate if you lose money.

      Good/Poor
  10. Ana Vid says:

    Hi Steve, I’m wondering which broker would you recommend from set on trade platform? I’m about to open a real account in the next few days and just wondering if you could give an advice about brokers. Thank you!

    Good/Poor
    • Steve says:

      Hi Ana,

      Well I can only tell you about the brokers I have used, at the moment I like BCM as they are regulated as are 24 Option but 24 Option does not allow $5 trades whereas BCM does… Also OFM is part of Banc De Binary so they are meant to be pretty good as well…

      Sorry if this isn’t much help..

      Good/Poor
  11. Claire Beer says:

    I would not recommend setontrade, I deposited £490 today and it was gone within an hour or despite all the settings being as Steve recommends in his you tube reviews. To say I am devastated is an understatement. I am of the opinion that they are just another group of scamming thieves who configure the bot correctly just for the a select few and then make their money by clearing out the rest of us. To add insult to injury, you top up with another £50 for example to give the system the benefit of the doubt and have another go, oh no they want another £200 – which is absolutely great for those of us who just dont have another £200 to put in – anyone who is desperately looking for a way to earn online KEEP AWAY

    Good/Poor
    • Steve says:

      Hi Claire, I know the feeling I lost a fair bit just before Christmas as well just over 750 all in 🙁 and I should know better! December and January are never great months for trading even more so for these dam auto traders, it has done so well for me with different brokers as well and then out the blue bang just lost like crazy… I think I got to comfortable with it and was starting to trust it, more fool me I guess I learn the hard way yet again…

      I tried emailing them but they are away until the new year so I will find out what has gone on and hopefully get answer.

      Good/Poor
  12. Karl King says:

    Hi Claire,

    My name is Karl and I’m one of Steve’s avid members using his signals. I am glad your part of Steve’s membership, I think you thought that you could make a bit extra for Christmas using the auto trader and there lies your mistake! So did thousands of others at the same time. I will explain!
    I have been away and not mentioned this on the forum to date as I was not sure but I own a company that is specialises in anti gravity drives and we are close but I have some very bright people working for me and some very, very, powerful computers, so I have asked my mad scientist I call them to pull apart some of these auto traders to see if they are breaking the law and stealing peoples money!. You would say yes!
    What we found is that written in the auto trader software code is a method of altering time of either the trade or the pip movement and this is legal under the law as a protective measure to safeguard the broker and the company supplying the software, the system is completely automated, so the more winning trades in a particular area of the world or city the insidious machine changes the settings in favour of the broker and again if less people are trading or using there software they will alter the settings to give a false impression of a no loss situation, unfortunately your trading came in at a time of high wins so you lost.
    Even trading platforms are able to manipulate the time sections of there platforms when times are really in favour of the trader.
    The only platform we found not doing this is Bank De Binary or at least we haven’t found the algorithm.
    I’m sorry you had to find out the hard way but on a positive note your part of one of the most wonderful forums and companies out there is a sea of sharks and as part of this family Steve especially along with the others here will have you in the money soon, just relax watch Steve’s videos and learn to read the markets and place wise trades. Place small trades with an IQ account on the practice account until you feel confident in placing your own money.
    We use Steve’s recommendations and signals most days for a bit of fun and we had one hell of a Christmas party OH YEA! THANKS STEVE!! Happy New Year Everyone Ha Ha
    And to you Claire I wish you a very lucky new year.

    Good/Poor
  13. Paul says:

    Hi All

    I have been doing SetOnTrade and logging the progress it is outstanding on DEMO what changes when real money goes in?
    Many folks have a different answer if the software is good as it is on DEMO why not on the real trades.

    I am new to trading been studying for ages and now getting ready to go real trading

    Any advise would be great.

    Thanks

    Good/Poor
  14. Bernice Slater says:

    Tried set on trade on demo, and although the calls were close, it did seem to make money, so on the back of this I opened an account, using set on trade with real money. Settings were 2 trades using martingale on a time of 90 secs, (which looked promising on demo) Within a day I had lost £100. Yes I did have some wins, but on the losses the stake goes up, so one of my trades lost and placed a £50 trade, which also lost. So have switched it off and not tried it again. I think what I have learned from this, is that I wanted to be in control of my trading. Loosing money on auto bot did not feel good. So will try and learn to trade using my brain and not a computer algorithm. Just my opinion!!!

    Good/Poor
  15. Mark Verberne says:

    you cant trust auto traders… thats my opinion..
    have done real money on setontrade in the early days..

    i ate my account like sweet pie, 250 euros goe in week of cautiosly trying to find the settings. NOT using martingale.

    My advice: start learning to trade for yourself or quit trading.
    Autotraders are for if you are already settled with a beefy balance and can miss a few hundred.
    Not to build up an account.

    my 2 cents

    gr

    M

    Good/Poor
  16. Stephen Machlica says:

    I have been testing the Demo and found the Feed to be right on . Also if you are starting with a low balance trade only one currency pair at a time. It will build your balance up slowly. You will not loose if you check off martingale

    Good/Poor

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