50% drawdown at moment. If Euro strengthens a bit more this account is toast. I am pretty sure this is the Fusion Forex re-packaged. Works great until there is a strong trend then adios amigo.
This is 100% Martingale. First it opens 0.1, then if market goes against it 0.2, then 0.3 etc. Unless you have a global equity stop loss this EA will inevitably blow up.
Liars. Under the Performance tab on their website it says:
"BMMAX LIVE STATEMENT
We Know
Its unbelievable!!
So,Use this investor access to see its performance
Name : BMMAX PVY
Login : 11313206
Investor : lwhu7ts (read only password)
Server : ThinkForex-Demo"
Their "live" statement uses...
It says on their website:
"Due to the small size of the positions the E.A. opens, the expert advisor would not be sensitive to extreme movements of the market."
As of today, a Saturday, the open trades amount to 1.2 lots on a micro account with $300 equity. Not sensitive to extreme movements...
"This EA has built-in safety system which will be triggered to bail the account out when hedging and martingaling to 1000-2000 pips without turning back or/and the account is about to lose 25% so as to prevent the account being blown up."
So how come their own live account has had a lot more...
Risking a third of the account on each trade is lunacy. 3 losing trades and it's goodbye account! Sure, it gets them near the top of FPA's performance rankings to sell their product, but it is a crazy risk setting. The account will blow up if risk isn't reduced. Shame. Might be a good strategy...
I joined Nov 2012 to try it out. The software works fine and they seem totally genuine. But they have lost about 10% of my demo account so far, and really I have to ask is it worth the monthly fee? I haven't decided yet but I'll let the whole month finish out and see what the account does...
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