Discuss BestForexRobot.co

[u80th]

You said it all. Wise words.

 

[jonpearce]

Total scam........beware! I requested refund of $100 USD monthly fee that I paid only a week earlier, as per the advertised '15 day guarantee' shown on website..........no response from vendor. I lodged a refund request via PayPal and the $100 has been put on 'hold'. Next step is to escalate to a PayPal claim as no refund or reply from vendor.

 

[jonjo]

I started using this service on Friday 13 February 2015. I used the default 'risk scaling' setting of '1.0'. My initial deposit was AUD$1000. The lot size that was opening at the start was 0.1. For the first three days I made profit of approximately $100 every day. But then, on Wednesday 18 Feb, there were large losses due to news. I then realised two things....Firstly, the default risk setting is EXTREMELY RISKY! Secondly, I realised that when price moves against a trade, this EA starts opening additional trades in the same way that a GRID trading EA would, although there was no 'Martingale' at work, with all lot sizes staying the same. I then decided to reduce my risk scaling from '1.0' to 0.2, and this resulted in lot sizes of 0.02. This turned out to be a good decision, because on Friday 20th February there was a 20% loss on my account when the EU meeting about Greece began. If I had left the 'risk scaling at '1.0', my account would have been completely blown up. I disabled the EA immediately. The vendor's account WAS just about blown up, and no further trades have shown up on their account since that event. The interesting thing is that all my trades closed when the price move was at its worst. Exits were at the worst possible price. Ironically, when an agreement was reached about Greece, the price move then reversed, and had the trades not closed out, I would have recovered and made a good profit! I have not been able to get a response from 'Account Doubler' 'support', so they appear to have gone to ground completely! Incidentally, I saw a maximum of three trades (in a grid pattern) on a number of the pairs being traded, but I have no idea how many trades it would open if the price continued to move against a basket of open trades. So.....it took just one week for me to discover that this is a VERY DANGEROUS EA in it's current version. The strange thing is that most of the time it seemed to be able to get excellent results WITHOUT opening grids of trades. It seems to me that it would work fine if each individual trade was allowed to close on a fixed stop loss rather than gambling on a reversal happening in time to save the trades.