I received an email from the guys at FAP Turbo, about a new $49 EA: Forex GPS Robot.
I was about to close the page with a “meh, it’s the usual scam”, then I see the graph and I am shocked:
Whoa! He doubled the account in a few months! How he could do that??
I watch the trades: they play with 24 LOTS, and trades lasts around 2 hours, just to make 4 pips??? Ok, at 1 AM GMT there is low volatility, but this is extremely risky, all trades are without the stop loss! Moreover, when it loses, it makes an “all in” action to recoup the loss!
It loses 94 pips, and, to recoup them it hedges immediately with 127 LOTS! Yes, THAT much! With a $130k equity this is a suicidal trade, it’s using half of the available money as margin (with a 200:1 leverage it needs about $70k)! This means if the suicidal trade gets below 50-60 pips, you get margin called! What are the possibilities to have two consecutive losing trades?
Reading honest reviews, it looks like it’s very easy to burn the account, while reading “less” honest reviews, written with the purpose to take a rebate on sales, it looks like everything is wonderful!