Profit Empire Robot Scam

qwasi

Recruit
Messages
2
Dear Admins,

First I want to thank FPA for the wonderful work they do to save many traders from misery. Number two I have been a follower of FPA for more than five years now but interestingly I do not know whether this issue should be raised in this section or another one. But I guess with Pharaoh, admin and all other FPA team, they will help in fixing it to the right place.

I bought Profit Empire Robot in 24th March this year. I paid via paypal and I got their ea, I then had to keep asking for assistance to fix it but at last I got it. It took time to open the first trade which actually opened in the opposite direction. I then wondered what's up. It went to the negative so much and I panicked and closed at a loss of about $200. Then it put another one and another one which luckily after a stressful long period of suffering on negative (opposite direction to the trend) it turned out positive. Anyway, I wrote to them an email asking them comes their ea seems to take opposite of an obviously visible trend direction. They said it will still make profit. And thoght to myself - I was buying this ea to assist me in reducing the stress of having being glued on the pc whole day or when I have an order. And mind you they operate without a stop-loss, so the pressure becomes even bigger and no normal person can leave an order in the market like that. This ea in short has actually costed me sleepless nights that I was better off when I was trading manually. In fact I agree with Sandman and others in this forum who say that this is not an ea but shabby thing meant to scam people. The issue is not even making profits since if you have enough funds you can open a trade and let it stay open till it turns your way and you make profit. So profit that even manually can be achieved in a shorter and relaxed time-frame should not just be the only selling point.

To cut a long story short, I now have gone at a loss of over $2500 (09th&10 April) since I could just watch my account burst as I look. I am even opening a case here for your judgement because that guy even insulted me via email I will produce all my correspondence to them and their response. They did this when I told them I will shout about them all over and even involve FPA. I had even sent them a screen shot because I was shocked by the many orders they were adding as the situation got worse! It's like trial and error where one hopes the trend will now change since it hast broken it's high. They put 8 orders of 0.44 each which was crazy. I had to remove their ea hysterically. I even cancelled my subscription with them and asked them to cancel on their side and refund me my $100. Let me not preempt what I will present to you for you to understand.

I intend to open a case with FPA for all to be aware. Better trade manually and with the suggestions given here by Peter and the team. You will live longer without the stress of PER.
 

Pharaoh

Colonel
Messages
20,125
If those deep drawdown trades mostly ended up back in profit, then this is much less a scam and much more of a robot that's got a dangerous (and scary!) trading style. I don't think "it's stressful" alone qualifies a product as a scam.
 

bigdolly

2nd Lieutenant
Messages
1,194
Actually EA without stop loss is road to hell. Buying EA to lose money? You can do it yourself :)
 

henyo

Master Sergeant
Messages
444
ouch that should've hurt a lot, I mean these loses are not small, sorry to hear about that!! and fore me personally if i were in your situation i wouldn't know what to do but pls do keep us posted on how things go
 

xhlasx

Recruit
Messages
1
it looks to me more as a fraud (sort of) than a scam. The guy is running a martingale with quite high risk. It is a sort of counter trade strategy with no (visible) stop-loss. The DD of more then 70% is quite a nice indication of how dangerous the sytem might be.

Qwasi...who do you mean when do you mention Peter?
 
Top