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We haven't tried the EA from ForexRobotNoLoss.com. If you have let this software trade forex for you, please leave a review here.
Update: The FPA has begun a performance test of this EA on a demo account. Please click the link towards the upper-left to follow the results.
Tao Chong, Atlanta :::: Georgia
Rating:
Date of Post:
2010-02-22
Review:
For only 17 trading days I have profited more than $2,900 on my demo account. Relizing the profits I funded it my live account with FXDD on a $2,000 real money account.
To date my profited $1,400 in 30 days with each trade in profit with NO losses! My average winners are $15 to 25$. This is one of the reasons I was drawn to this roboter.
THis is just great and I love watching my account grow everyday. Thank you team for making such a great product. I am coming back for more.
Michael Southerland, Netherlands
Rating:
Date of Post:
2009-12-19
Review:
Purchased the Forex robot no loss and had some issues getting set up. For some reason I did not download the videos correctly but requested them resent and took 24 hours to get my copy. Very happy with the customer support. I did have some drawdown initially but the four currencies eur/usd, gbb/jpy, chf/yen and aud/usd came back after nine days and closed for profits.
I was really thinking of getting a refund but when I saw these currencies turn around and head into positive territory I honestly could not believe my eyes how quick they turned. This is not a program for the lighthearted but it does work. I found a setting that allows the robot to exit if a trade turns the wrong direction which I turned on.
If you own this robot I recommend turning it on. It's upper timeframe changes direction setting to true. Without this I would not feel comfortable with no stoploss. But it does work and I seen it close a trade when the upper timeframe changed direction which kept me out of large drawdowns.
I would give it the maximum number of stars but I'm not because only the holy Grail we get my five stars
Harvey, USA
Rating:
Date of Post:
2009-12-09
Review:
Having experienced the original version (HAS Hedge), i can say that in trending markets this is an effective EA. In a ranging or oscillating market, its possible for large drawdowns that rival a significant % of your previous gains, So unless you can distinquish ranging from trending markets and are nimble(not a trait of most EA users) avoid this system-its not for beginners and I agree it has been misnamed.
Kelly Criterian, Laval --- Canada
Rating:
Date of Post:
2009-12-03
Review:
I must admit when I first put my robot on my FXDD platform I traded $2000 at .10 lots each. To my elation my account rose 200% in 12 days. But then something happened. I lost back over half my profit in just two days. I received a refund and My software running to see what would happen.
I'm an honest person and did not intend to keep the software but I did just to see what happened. As it turns out after reading the FAQ forum I was trading too much lot size for my account. I should have traded 10 currencies at .02 micro lots each.
Now I feel like a fool and felt bad getting a refund so I repurchased the software and reran 10 currencies with the same $2000 at .02 lots each and the experience with the account was much much smoother. Now the account was making profits every day without the large roller coaster ride. It just goes to show that even a non-novice can make mistakes and now everything is straightened out with Forex robot no loss and I am now in good standing.
In all honesty I think many people on this site has probably experienced the same thing I did by over trading account using a mini account. Guys don't do this. You will have terrible results if you are not trading a large enough account with mini lots. Micro lots is the way to go even on accounts as high as $10,000 it works perfectly.
Cheers to all and happy pips
DANNY, CA
Rating:
Date of Post:
2009-12-03
Review:
THIS ROBOT IS A SCAM I NEVER GOT MY REFUND.THIS IS A TOP OUT ROBOT IT KEEP ON TRADING ONE WAY EUR/USD BUY ONLY EVEN AT THE VERY TOP PRICE LEVEL. IF YOU WANT TO FOLLOW ONE MONTH TREND YOU DON'T NEED THIS ROBOT. IF YOU NOTICE ON THE OTHER SYMBOL IT ONLY TRADE ONE WAY. WHO EVER IS TESTING THIS SHOULD TELL THE TRUTH THAT IT DOES NOT WIN
I bought this robot on 11/2/2009 and got it running on a $10K demo account trading 1lot for 8 major currency pairs. As of sometime last week the drawdown was over $1000 i.e. greater than 1000 pips.
In fact, my broker suspended the demo account because it kept trying to make trades: "Your Metatrader 4 demo account, xxxxxx284, has been disabled because your Expert Advisor was trying to place orders, but getting rejected. If you wouldn’t mind, please reset your expert advisor or turn it off. Thank you."
So, today 11/30/09, I requested a refund based on the "60 day no questions asked" refund policy, poor performance and the suspension of the demo account.
The first response I got back was incredible:
"Action: COMMENTED: VENDOR : 2009-11-30 09:52AM
Comment: Why don't you stop whining and look at the facts. We posted our results for the past 15 months on our website of which each month was profitable even after drawdown. We also have a live account running 24 hours a day posted where nobody else would dare do this which is also positive after drawdown. Looks to me you want a free piece of software. Your results are just a pinprick of information which is meaningless"
I replied that I tried it live for almost 30 days with negative results and broker account suspension base on th ForexRobotNoLoss's actions, and got this response:
" COMMENTED: VENDOR : 2009-11-30 10:49AM
Comment: I am in no nonsense guy. I post actual results on my website because I believe in 100% transparency. I know for a fact because I run two websites that people are taking it manage unfairly of the 60 day moneyback guarantee that ClickBank requires. My other website has a no refund policy and people buy our software and like it would literally no refunds. On this website which was set up for our affiliates to make 66% commissions the refunds are nearly 22%. I understand the average is as high as 50% refunds which is totally insane. In speaking to my other vendor friends we all had the same feeling that there are way too many people wanting free software so I am speaking out telling people like yourself to stop being so stubborn and close minded and want an immediate refund which is totally a newbie response. If you had Forex experience you would understand the trading is not a get rich quick overnight scheme but rather investing your money over time. And yes people do whine all the time and with that attitude they will never learn how to become successful. If you think this is unprofessional So be it. I am in no nonsense guy that educates traders to become successful even if that means saying what's on my mind. Take your refund and look for the holy Grail which never will exist and be happy with your daytime job."
Now I don't know but why even offer a $ back guarantee if all you are going to do is really anger you customer.
DO NOT BUY ForexRobotNoLoss.com under any circumstances. The vendor is unprofessional and the EA simply does not work as promised.
Bobish, Canada
Rating:
Date of Post:
2009-11-28
Review:
I agree with ALL the one star ratings, the five star ones will drop to one or zero, its just a matter of time.
I was not so lucky to get my money back, I tried with Paypal and gave up about 2 years ago when this garbage came on the market.
My advice to anyone is use Clickbank only if you feel you can't resist the temptation. Because Paypal is a lost cause when it comes to getting a refund. I have since cancelled my Paypal account. And do not trade live with this EA unless your objective is to get poor.
Other websites are calling this one a SCAM, what does it take for FPA to do the same. Someone in the US should report this scam to the Securities Commission, because Steinitz claims it is a "NO LOSS" system which is FRAUD, because it is not a no loss system. THERE IS NO SUCH THING AS A NO LOSS EA
I have not seen any warnings from Steinitz regarding the danger of loss in trading, required by the SEC, and maybe the NFA. And also the Federal Trade Commission should also be notified.
What Steinitz is doing is ILLEGAL by advertising "his" EA is "no loss". Its time that someone or some agency put a stop to it, before more people are injured financially.
Bobish .
2009-11-27 1 Star I bought this EA (that's what it is) and I was stupefied by the number of Parameters it had. There were more lines of params that in entire EAs.
First, Don Steinitz is a self confessed card shark and gambler: NOT a code writer. "Mr. Pip" from Forex-TSD coded the EA for him.
Second, Steinirz is NOT a trader, he's a gambler, he says so on his website I spoke to him some time ago explaining what "repainting" was in an indicator. So he is unfamiliar with indicators and EAs but he is very familiar with scamming opportunities. To him Forex is the goose that laid the golden eggs.
Third, his algorithm for "his" EA is FLAWED. It uses price action on other time frames to trade another, this is fundamentally incorrect. There is only one Time Frame and that's the minute TF from which ALL OTHER TFs are CALCULATED. Any EA based on multiple TF is doomed to failure as this one is.
Fourth, there is NO SUCH THING as "No Loss" in any trading. Right there this is a RED flag that this is a scam. The SEC and NFA must do their job and put this charlatan out of business.
Fifth,.Steinitz's EA uses LARGE stops. Any EA with no stops or huge ones WILL show a nice smooth graph perfect for suckers, what he never says is the HUGE draw-downs which could wipe out an account while you sleep in one margin call.
Sixth, I think in 2007 or there about Steinitz introduced his EA in the World MT4 contest. EAs which NEVER traded beat Steinitz's because they had $10,000 capital left whereas Steinitz's LOST about2000 or 3000 and was left leaa capital. So much for "No Loss".
Steinitz thinks that because he says he can "count cards" that makes him a trading genius, not so. Now he has joined a group from California to further penetrate the forex "goldmine". I hope this review and spreading the word that people like him are like a cancer, they will feed on you until they kill your bank account then move on. You have been warned: AGAIN.
Bobish
Ben, USA
Rating:
Date of Post:
2009-11-27
Review:
I used the origional verion of this software in Aug 2008 manually by taking signals from a demo account and then manually executing them in another live account because I did not trust the no stop loss theory.
I had many winning trades in a row and was amazed at the accurracy of the software. I then got over confiendent and traded to way to many lots and got caught in a 500 pip drawn down on the GBP/USD 9/08. Since I was trading manually the software could not get into new winning trades which would add to my margin.
I eventually feared a margin call and closed the trade. I followed the GBP/USD and to my surprise not only did it come back into profit it called about 7 more winning trades in a row. The main thing with this software is to use it exactly like Don says with the proper money management settings.
Every single trade that went into drawn down came back and closed in profit, most traders do not have the patience to allow this to happen or they set to many lots when they begin winning. The software usually calls many winning trades in a row and then will have big drawn downs on some trades but they all come back into profit.
I have an computer degree and have been trading for 4 years and Im still amazed as to how this exaclty happens. You can track the reuslts of this software live 24hrs a day at http://forexrobotnoloss.mt4stats.com/ watch the open trades that are in a negative draw down and you will see that everyone of them evernutally closes in profit. In the analyse report is one trade that reports a loss, I watched this trade the entire time and it was closed by Don(designer) I asked him why he closed the trade and he told me because he did not want the drawn to dimish the reporting for that month.
I followed the trade and guess what it came back to exactly where the software said it would, this software is so accurate that I look for the trades with the big draw downs and trade them to the exact orgional target. Once you know how to use this software the sky is the limit do not listen to people who do not know what there doing, investigate and test for yourslef as I did.
I have tested this software since 8/08 and every single trade has closed in profit(truly No loss) you just have to make sure your settings are right so the many winning trades will increase your account as the drawn down trades come back into profit. hope this is helpful
Henry Mecaudo, Houston TX
Rating:
Date of Post:
2009-11-25
Review:
I purchased the Forex robot no loss system shortly after I study the material on the website. I have gone through many robots through ClickBank and refunded each one promptly because of lack of performance. I have to say that I am extremely impressed with the results and equally impressed with the owners willing is to post his live account openly on the website.
My robot has gained 12% the first month which is there a comparable to his results shown. If this continues and compounding takes place I should see excellent results in my balance. I'm not sure if the robot compounds using the balance or the equity so I need to contact the owner to find out.
I do recommend staying away from a deal desk as I'm using gain capital which I found to be better than most other brokers when it comes to using a robot. Excellent job!
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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Spam Notice. To secure your privacy FPA mailing list is maintained and all emails to FPA members are sent through AWeber Communications, Inc. with world stringent Zero Spam Tolerance policy. One click unsubscribe option is included in every email.