I have used thed the "Terrible - Terrible, extremely bad performance. I use unique email addresses for online data acquisition and purchases. I have just received spam email, sent to the address above, used and created exclusively for this company, from a Canadian pharmacy, www.
Either Forex Autocash Robot has had its customer database stolen, or it has sold its mailing list. It's a shame that this ea had that big loss right out of the gate. The timing for the launch couldn't have been worse.
I purchased it after that happened and I love this EA! One thing all traders need is patience, we all know this I have learned a lot about this EA testing it for 10 Months. I started a new demo account for this EA in Jan. Now, keep in mind that I have learned how to manipulate it to take more trades. My MT4 stats are here for all to see. The losses that ARE on there were closed by myself manually.
If I hadn't closed them, they all would have come back winners, BTW. I learned a lot about patience using this bot; though sometimes I was sweating! This thing wins so often it's easy to overcome any losses. I have tried many robots NONE compares to this one so far. I too experienced an early loss which prompted me to ask for a refund. I wrote Clickbank and even sent them Johns letter admitting failure.
After at least 12 email requests and no refunds and no response from Clickbank, I determined that Clickbank was in on the scam.
I will never purchase anything through Clickbank again because of their refusal to answer any of my emails. I have been running this on a demo account from 1st Oct 08 and yes, I too experienced a pip loss on the first trade. However, I haven't had a loss since then. On the 11th Nov I thought it had got it wrong again when it was showing a loss of over pips, but I let it ride and it closed the trade with a profit of 97 pips.
I increased my risk factor from 10 to 50 and my lot sizs have gone from 0. I will continue to watch this one - so far, apart from the 1st losing trade it has kept its promises. Bought this product after the huge marketing campaign. I had 5 trades one per day of which 3 made a profit for a total of 17 pips. I had 2 losses with a total of -1 pips. After this I submit a ticket to the owner and, after 3 weeks he finally came back with the following response: Please consider the following issues: The robot has open trades for days at times which accumulate is positive swap interest.
That means your account receives money in the form of interest paid. This can amount to a lot since you are getting interest on the full contract you are trading and not only on your deposit. Its actually a strategy no robot uses. With good accuracy, over time this alone can generate a big income. There is a comment regarding swap interest in the knowledge base. This means that once account grows by a certain percentage the robot automatically adds lots to the trades.
Over time, and with good accuracy, this can amount to a lot. Its just a matter of patience and removing the greed factor I talk about in the PDF report in the downloads area. For ,many traders this might be different than what they hear or see, I just ask for an open mind. From the above it is clear that this EA only take buy positions - very dangerous when considering that the pair may drop another pips before reaching a bottom. This would indicate to me that this EA may take another losses at pips each before the bottom.
No matter - after my initial 2 losses and a dragdown of pips the account that I have set up for this is all but wiped out. If you bought into this - good luck. If not - stay out. The advertising of this EA was really attractive. But that was the advertising only. As soon as it was released, I installed and get the first sound loss pips. Then I discovered that this EA only places long orders for pips profit.
And with this recent pronounced down trend that was a suicide. I got my money back thanks to clickbank. Stay away from these sexy and attractive forex offers. I too purchased as a newbie and actually waited to install. From moment of install - late Oct til present all I have seen in Demo account is winning trades. Lately I have seen bigger lots after adjusting risk parameters. I have also started to see multiple openings - which I find interesteing.
I have searched hi and lo for EA systems that will provide a way to consistently profit. So far no such luck. I am aware of the potential downside - big drawdowns with large StopLoss settings - potential scalping issues as trades are closed rapidly - small amounts of profits vs. Yet as advertised this system did make note if you researced it carefully that it was not about making a killing or riding trends - rather small accurate trading.
Also as advertised and in the manual it talks extensively about a slow build-up and potentially greater rewards down the road. So far I am still intrigued and if I go live I will only do so with a small amount. Further all of the negative ratings seem to be consistent with a frustration of the system not being what they envisioned - an EA capable of larger and more often trading. That was not what I remember seeing. I am not hear to defend or damn this system - rather, I am not seeing this system as a total failure or a success - again noting some obvious issues and potential shortcomings vs.
Frankly many systems do not even work when backtested either bust or are inconsistent, at least this one works in backtest on a consistent basis. Finally, while this obviouslly does not attack trends - again compared to most other systems that have any level of success, StopLosses are either not used initially or set very far away from trade entry or set at a breakeven after a run-up. I think everyone has to ask themselves 2 questions: Did you really expect the "Holy Grail", and 2.
What is that you were buying this for? If it was to run on its own without paying to much attention and trying to let the system work then maybe just maybe it will work if it was rather you were going to sit behind your computer all day and judge every Pip move then why even bother in the first place.
There are different signal systems and services for that type. Hope this helps - I am going to give this a chance. That is very discouraging. The rating was removed pending a further update from Jim about whether he goes live and how that turns out.
We hope to hear back from him soon. I completed a review my second on this system on 25 October, but it has not been posted. Review Moderation Team Note: Brian, we try to keep review turnaround to less than 36 hours, it can take up to 72 hours under normal conditions longer over weekends.
Review and Ratings Trading Software forex-autocash-robot. The FPA recommends a high level of caution dealing with this product. Live discussion Join live discussion of forex-autocash-robot. Video Your company video here? Let other traders know if this service is worth checking or should be avoided.
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