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We haven't tried the EA from ForexShocker.com. If you've let this software trade forex for you, please leave your review here.
Alexander, Amsterdam
Rating:
Date of Post:
2009-12-03
Review:
I have put Shocker 2.0 on demo with various brokers (3).
The trades resemble FT49...although I do get more losses with this one. I have run the forward tests and can not get a profitable bottom line.
Nathan: The NN implies the system uses Neural Network, but this is actually not the case.
The system uses a 4 pip TP and a fixed Stoploss of 32 pips.
Note to all potential buyers: there is NO moneyback guarantee.
Caveat emptor.
I have tried to get a refund and received very rude reactions from the vendor. Will never do business again with this company ( FOREX Developers, LLC). Transcript from our email exchange via Plimus available upon request.
Nathan, Japan
Rating:
Date of Post:
2009-11-19
Review:
Forex Shocker has been updated to version 2.0, and fortunately it addresses most of the complaints regarding drawdown and stoplosses I had with it last time.
I have left it running for a month on a live account and have had nothing but winners so far. The only time it lost, it took a tiny loss (possibly from slippage) but I was in no way in any danger of a wipeout that occurred with the previous version. Now I don't need to panic or bite my nails every trading session, which is great.
I recommend running it on the EURUSD, USDCHF and perhaps the GBPUSD as well, but I have not tested this pair on live trading yet. I did not have so much profit when I tried the EURCHF unfortunately due to my broker spreads, so I'd recommend sticking to pairs with low spreads only and leaving the aggressive trading off. Brokers tend to hunt EAs like this one and their manipulation of spreads can hurt it, causing it to try to close at breakeven rather than go for profit.
Even only trading two pairs, the profits have been small but consistent - which is all you can really ask from an expert advisor that plays is now playing it more safely.
2009-08-17 3 Stars Forex shocker is an Asian Session scalping neural network bot that trades 6 currency pairs, simultaneously if you like.
On the plus side, the backtests results are really pretty, and one assumes that if you traded all 6 pairs at the same time, you'd probably get rich quick.
On the minus side, as it is a scalping bot, it is affected by broker spreads, most of which these days are very high across the board for the Asian session (typically 1 pip off the max spread so the broker steals most of your profits and puts your scalper in danger). I hope you have a good broker, because a pip is all it takes for a scalper to close in a tiny profit, or lose traction and hit a big stoploss.
Forex Shocker's major sticking point is that it can't handle loss, and overall account drawdown very well. It also fails to close in profit on some trades and allows them to lose traction and swing the other way into drawdown if they hang too long - especially close to the start of the European session. The stop loss is also rather large, so a loss is rather significant if it hits, especially when multiple pairs all hit the stop-loss in the same trading session. The authors say they are working on fixing all these issue for the next version, and if they manage to handle this then I may consider running it live again. Meanwhile there are other Asian scalpers that can handle recovery, drawdown, and breakeven better than Forex Shocker in my opinion.
In addition, two of the live accounts from the Forex Shocker website have been withdrawn from display (possibly because they are in drawdown), and the graphs they had have been replaced with the account histories of the other 3 which are marginally in profit. I think the creators are a little sheepish because it hasn't been performing as good as they would like at the moment, so they are making the actual results a little harder to for potential customers to find.
Forex shocker did a reasonably good job on my account until all the currency pairs I had running hit stoploss on a single night and wiped out most of the profits it had made over from the previous week. I didn't lose all my money, but it would have taken a number of weeks to recover the lost profits. A bit of a "shocker" (pun intended)
Stu, Florida
Rating:
No Rating
Date of Post:
2009-09-23
Review:
hello,
Nathen, you are wrong. It does not trade the Asian session. It trades Sidney between the hours of 4 to 6 pm EST. This bot has made 9 straight winning trades for me so far as i have only had it running for 3 days.Just because you place it on 6 pairs does not mean it will trade all 6 in a session. Not all act the same. This is an excellent bot so far. It takes 4 pips profit which means in and out really fast. You would not go wrong with this one for sure.
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