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ForexFunnel.com

Discussion in 'Forex Software' started by AsstModerator, Oct 22, 2008.

  1. AsstModerator

    AsstModerator FPA Forums and Reviews Admin

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    #1 AsstModerator, Oct 22, 2008
    Last edited: Oct 22, 2008
  2. glenn

    glenn Recruit

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    forex funnel

    Hello
    Has anyone used the funnel? keen to here from someone as i will be putting in $2,500 on a live account please i would like advice
    Thank you
     
  3. cbrecruit1

    cbrecruit1 Private

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    forexfunnel

    hi

    What was your outcome, did you use a demo before you tried it live? there are mixed reviews on youtub and forex Peace Army forum regarding this program regarding this program:confused:
     
  4. aicohn

    aicohn Corporal

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    Forex Funnel Telemarketer Terrorists

    Some months ago I bought a forex funnel license, but decided not to use it based on the littany of stories of blown up accounts posted here & elsewhere. I'd written off the $139 & forgotten about it. Starting yesterday with a voice mail in my cell phone mailbox & continuing today at about 10 AM I got a series of phone calls from an extremely rude & persistent telemarketer calling from forex funnel. When I told him I wouldn't talk to him, told him never to call again, he immediately called again started shouting over me on my cell phone that he was "trying to help me". He did this no less than four MORE times. My cell phone number is registered on the national "do not call registry" with the FTC. The phone number used was (435)674-3696. I made a hasty internet visit to the AT&T website to block this number from my cell phone & then visited the FTC website and filed a complaint against them. I would imagine there must be a law against repetitive harrassing phone calls mad to a cell phone like this & if I thought I could get the FBI to put the fear of god into this pathetic little jerk, I would do that also. At a point, life's too short.



    Forex funnel... the little gift that keeps on giving.
     
  5. Jeremy88

    Jeremy88 Recruit

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    Actually it's not Forex Funnel though they may have sold your contact info. I received a call from the same number trying to talk to me about Fapturbo. A few weeks ago I received a call from them about Megadroid. They try to portray themselves as being from those vendors and offering help with your forex trading and using those EAs (for a huge fee of course).
     
  6. Bob32

    Bob32 Recruit

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    Forex Funnel Performance Test

    Looking at the Forex Funnel demo statement, it appears that an incorrect lot size was used for the test. The instructions state that $2,500+ equity should be used to trade a .01 initial lot size. The statement shows that $5,000 equity was used to trade a .2 initial lot size. That lot size would require $50,000+ equity instead of $5,000.

    Maybe the test would be worth running again with a correct lot size.
     
  7. Levaz

    Levaz Recruit

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    Hi Glenn,

    I have been using Forex Funnel on my Live account at IBFX with decent and consistent results since June 2009, after using it on a demo since May 2009. I would, however, recommend increasing the equity, i.e., $3,500 per mirco lot (0.01 lots) to be on the safe side - you will not regret this decision.

    So far, Forex Funnel has twice exhausted their own suggested equity ratio of $2,500 per micro lot. And some members here will testify that their accounts were blown - see the comments about the July 23rd trades, and more recently, a couple of weeks ago - it did the same thing.

    It appears that the EA can handle up to 140 pips of movement at a time, no more. If there is no retrace within this move to get you out of your trades, you may be in trouble.

    I found the best thing to do, if you face a large move of 140 pips or more, is to shut down the EA but ensure that you have spare equity to carry the DD until such time as the market to comes back, which it will (and has done so repeatedly). The USDJPY pair is very fibo sensitive, therefore a 20 - 25 pips retrace is very consistent with this pair. I have noticed that a non-stop move of 140+ pips peaks at 160 - 175 pips, and then it always comes back to the 50% fibo line on the last move - it may take a day or so, but it does come back.

    I actually adjust the take profit level on all open orders to close at the third-from-last order. So that would equate to 60 pips on the last entry, 40 pips and 20 - 25 pips on the third-from-last, not to mention that there is a reduction in the loss on the other open trades - 20 pips on each of the remaining orders too.

    The other alternative is to hedge against the EA with the total of open lots, and simply allow the market to go as far as it will, and place your Stop loss to protect 2 - 10 pips on the the hedged amount.

    This move will accomplish two things:
    - It will protect your equity from further drain, and you can let it run for as long as it takes the market to come back;
    - It will add a little more profit, very little, but at 1.24 lots x 2 pips (or more if you want), that will add to your equity.

    Good luck


     
    #7 Levaz, Dec 8, 2009
    Last edited: Dec 8, 2009
: forexfunnel

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