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Herbert Schulman, Mobile, Alabama
Rating:
Date of Post:
2010-05-14
Review:
I very rarely write reviews, but I have been burned several times by this developer. As the other reviewers have pointed, all of Patrick Doucette's Euroblaster EAs have had the same central problem:
They take tiny profits over the course of several days to several weeks which are then wiped out by a huge loss. His market strategy is to entice people with a high win/loss ratio of 80% or higher. He further inflates his win/loss ratio by setting up his EA to trigger several trades on the one at a similar entry point. There is logical reason for this from a risk management standpoint that I can see because the entries and stoploss levels are relatively close together.
The other big issue I have with this developer is that he is a pathological liar.
With every new EA he releases, he claims that he is fixed the problems that customers complain about which is "big losses wipe out multiple small gains."
Yet, with every new EA, include EB7 the same flaw resurface. I know I am one of many customers who have experienced this because I have seen the complaints on Patrick Doucette message boards.
And...his huster has not sunk to a new low. Recently a number of his users made complaints similar to mine and the other reviews you see here. He deleted all the negative posts and then proceeded to cherry pick profitable trades from one day of trading and posted a chart of them, "proving" that EB7 is a consistent winner.
Mr Doucette is the quintessential con man in that he sounds credible in his marketing copy and YouTube videos. He is not loud, brash and doesn't fancy graphics in marketing.
But my warning to you is to stay as far away from him as possible.
Arno Nyhm, Germand
Rating:
Date of Post:
2010-02-09
Review:
At EUR/USD the EB Turbo creates many small Profits and some very big losses. they are so bad, that you need to win much more then 96% of Trades to earn money!
On other Pairs the EA creates much more losses in backtest and will crash your money.
I bought the EA but will not use it with real money. Also I have to remark that I became Spam to my eMail-Adresse a few days after registration. I used a mailadress specially createt für the registration. So I have to suppose, that he also sells the mailadresses.
Patrick Anderson, Atlanta
Rating:
Date of Post:
2009-11-25
Review:
I purchased EB Turbo three weeks ago.At first results were not good,I would make a good profit,then a trade would hit the stoploss,and I would be back to scratch.Then the developer Patrick sent me some new settings, and I checked the forum and discovered that the best pairs to trade were EUR/USD,EUR/CHF,&EUR/GBP.I stopped trading the other two suggested pairs-GBP/USD and EUR/JPY.Since then I have had no losses.Certainly deserves four stars.
Anonymous, Singapore
Rating:
Date of Post:
2009-09-28
Review:
Hello, all. I was a previous Euro Blaster customer and was disappointed by that EA's performance, first on V1, V2, then V3. Then, I got an e-mail for a special upgrade promotion. The new EA seemed like it may have had new trading logic developed for the markets and now it can be run on four currency pairs instead of just one, they are: EURUSD, GBPUSD, EURJPY, EURCHF. You place the EA on an M5 chart for each currency pair you want to trade. It comes with presets for basic operation (conservative), moderate, and aggressive trading styles, based upon how many trades you can open at one time and whether "turbo" mode is enabled.
In just one week, it took a FOREX.COM demo account down from about $8k, to about $3k, a loss of more than 50% of the account balance. The profitable trades are small, and the losers are very large.
I definitely would not run this EA on a live account, ever. Also, there is a NO REFUND policy, so once you buy it, it's all yours forever. I'll be deleting this one from the hard drive.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all
investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in
foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite.
The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you
should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign
exchange trading, and seek advice from an independent financial advisor if you have any doubts.
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Disclaimer and Risk Warning. Please read.
Risk Warning. Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Disclaimer All information posted on this website is of our opinion and the opinion of our visitors, and may not reflect the truth. Please use your own good judgment and seek advice from a qualified consultant, before believing and accepting any information posted on this website. We also reserve the right to remove, edit, move or close any post for any reason.
Advertisements Warning Advertisement links are displayed throughout the site. Some pages in the site may contain affiliate links for products. These advertisements and/or links do not reflect the opinion, endorsement, or concurrence of this website or affiliated parties. The FPA's reviews are never influenced by advertising. Some ads might contain potentially misleading and/or unbalanced claims and information that may fail to disclose risks and other important considerations involved in speculative trading.
Spammers be Warned If you spam the FPA's forums or reviews, we reserve the right to edit your post in any way we please to make fun of you. By spamming us, you agree to any edits we make and to take no legal or other actions against the FPA or its associates for anything we do to or with your spam.