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forex-autocash-robot.com (John Burroughs)m ( Review Visit site

Updated: Jan 20, 2015
1.658 · 26 REVIEWS
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1.658 · 26 REVIEWS
Forex Peace Army
DO YOU RECOMMEND THIS COMPANY?

Let other traders know if this service is worth checking or should be avoided.

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Chico,
Spain,
Dec 20, 2010,
Guest

I have used thed the "Terrible - Terrible, extremely bad performance. Possible unethical behavior." because of unethical behaviour. I use unique email addresses for online data acquisition and purchases. ie, forex-autocash-robot.com@mydomain.com.
I have just received spam email, sent to the address above, used and created exclusively for this company, from a Canadian pharmacy, www.therepharmacy.net.
Either Forex Autocash Robot has had its customer database stolen, or it has sold its mailing list.
roy lynn omohundro,
summerville, oregon u.s.a.,
May 27, 2010,
Guest

hi,

i have been using this bot since it first came out...

other than that first big stop loss it has been performing positively ever since...

slow gainer but that is not so bad...

later,

roy lynn omohundro
Wolfeman,
California,
Aug 14, 2009,
Guest

It's a shame that this ea had that big loss right out of the gate. The timing for the launch couldn't have been worse.I purchased it after that happened and I love this EA!

One thing all traders need is patience, we all know this...I have learned a lot about this EA testing it for 10 Months. I started a new demo account for this EA in Jan. 09 and let it do it's thing. Now, keep in mind that I have learned how to manipulate it to take more trades. My MT4 stats are here for all to see. The losses that ARE on there were closed by myself manually. If I hadn't closed them, they all would have come back winners, BTW. I learned a lot about patience using this bot; though sometimes I was sweating! This is an EXCELLENT Robot. This thing wins so often it's easy to overcome any losses. I have tried many robots...NONE compares to this one so far.

http://wolfeman.mt4stats.com/
td,
Texas,
Jun 19, 2009,
Guest

I too experienced an early loss which prompted me to ask for a refund. I wrote Clickbank and even sent them Johns letter admitting failure. After at least 12 email requests and no refunds and no response from Clickbank, I determined that Clickbank was in on the scam. I will never purchase anything through Clickbank again because of their refusal to answer any of my emails.
Mike Johnson,
Lancaster California,
Nov 14, 2008,
Guest

SUCKED IN BY HYPE AGAIN. I BOUGHT THE ROBOT BUT DECIDED TO WAIT FOR P/ARMY REVIEWS BEFORE INSTALLING. GLAD I WAITED. ONE THING I WILL SAY THOUGH, I SUBMITTED A TICKED ON THEIR CUSTOMER SERVICE MEMBERS PAGE ASKING FOR A REFUND. I GAVE MY REASON AS
Philip P,
England,
Nov 14, 2008,
Guest

I have been running this on a demo account from 1st Oct 08 and yes, I too experienced a 650 pip loss on the first trade. However, I haven't had a loss since then. On the 11th Nov I thought it had got it wrong again when it was showing a loss of over 240 pips, but I let it ride and it closed the trade with a profit of 97 pips. After 6 weeks trading the demo account is finally showing a profit of $557 on an initial deposit of $10,000.

I increased my risk factor from 10 to 50 and my lot sizs have gone from 0.10 to 0.70. This has increased the profit per trade from an average of $12 to $40.

I will continue to watch this one - so far, apart from the 1st losing trade it has kept its promises.
Kobus,
New Zealand,
Nov 12, 2008,
Guest

Bought this product after the huge marketing campaign.
I had 5 trades (one per day) of which 3 made a profit for a total of 17 pips.
I had 2 losses with a total of -1 300 pips.
After this I submit a ticket to the owner and, after 3 weeks he finally came back with the following response:

Message:
Please consider the following issues:

1.The robot goes for small profit objectives and hence the small $ amount per trade won.
2.The robot has open trades for days at times which accumulate is positive swap interest. That means your account receives money in the form of interest paid. This can amount to a lot since you are getting interest on the full contract you are trading and not only on your deposit. Its actually a strategy no robot uses. With good accuracy, over time this alone can generate a big income. There is a comment regarding swap interest in the knowledge base.
3 The robot is programed to profit on your profits. This means that once account grows by a certain percentage the robot automatically adds lots to the trades. Over time, and with good accuracy, this can amount to a lot. Its just a matter of patience and removing the greed factor I talk about in the PDF report (in the downloads area).
4 I know it the robot takes a different approach than most robots but I have been in this industry for many years and I am just trying to pass along what I have learned. For ,many traders this might be different than what they hear or see, I just ask for an open mind.

From the above it is clear that this EA only take buy positions - very dangerous when considering that the pair may drop another 1000-1500 pips before reaching a bottom.
This would indicate to me that this EA may take another 1-3 losses (at 650 pips each) before the bottom.
No matter - after my initial 2 losses and a dragdown of 1300 pips the account that I have set up for this is all but wiped out.
If you bought into this - good luck.
If not - stay out.
Jorge,
South America,
Nov 12, 2008,
Guest

The advertising of this EA was really attractive. But that was the advertising only. As soon as it was released, I installed and get the first sound loss (650 pips). Then I discovered that this EA only places long orders for 5-8 pips profit. And with this recent pronounced down trend that was a suicide. I manually closed the second loosing trade before it gets the S/L level (fortunately). I got my money back thanks to clickbank. Stay away from these sexy and attractive forex offers.
Jim,
Michigan,
Nov 7, 2008,
Guest

Only watching this EA on Demo using 1HR EUR/USD and the separate EA on the 1 HR GBD/USD - only trading Wednesdays. I too purchased as a newbie and actually waited to install. From moment of install - late Oct til present all I have seen in Demo account is winning trades. Lately I have seen bigger lots after adjusting risk parameters. I have also started to see multiple openings - which I find interesteing. I have searched hi and lo for EA systems that will provide a way to consistently profit. So far no such luck. I am aware of the potential downside - big drawdowns with large StopLoss settings - potential scalping issues as trades are closed rapidly - small amounts of profits vs. longer-term more powerful and potentially more rewarding trends - only trading one time if at all per day (however as mentioned started to see multiple trades on the same trigger). Yet as advertised this system did make note (if you researced it carefully) that it was not about making a killing or riding trends - rather small accurate trading. Also as advertised and in the manual it talks extensively about a slow build-up and potentially greater rewards down the road. Again using the risk parameters allowing one to set for a targeted # of lots or a %. So far I am still intrigued and if I go live I will only do so with a small amount. Further all of the negative ratings seem to be consistent with a frustration of the system not being what they envisioned - an EA capable of larger and more often trading. That was not what I remember seeing. I am not hear to defend or damn this system - rather, I am not seeing this system as a total failure or a success - again noting some obvious issues and potential shortcomings vs. alternative EAs I feel many have been to quick to write this off. Frankly many systems do not even work when backtested either bust or are inconsistent, at least this one works in backtest on a consistent basis. Finally, while this obviouslly does not attack trends - again compared to most other systems that have any level of success, StopLosses are either not used initially or set very far away from trade entry or set at a breakeven after a run-up. I think everyone has to ask themselves 2 questions: 1. Did you really expect the "Holy Grail", and 2. What is that you were buying this for? If it was to run on its own without paying to much attention and trying to let the system work then maybe just maybe it will work if it was rather you were going to sit behind your computer all day and judge every Pip move then why even bother in the first place. There are different signal systems and services for that type.

Hope this helps - I am going to give this a chance.

P.S. the customer service is non-existent other than the FAQ page my 2 request for help have been unanswered. That is very discouraging.

Note: The rating was removed pending a further update from Jim about whether he goes live and how that turns out. We hope to hear back from him soon.
Brian,
Australia,
Oct 27, 2008,
Guest

I completed a review (my second on this system) on 25 October, but it has not been posted. Any reason?

Review Moderation Team Note: Brian, we try to keep review turnaround to less than 36 hours, it can take up to 72 hours under normal conditions (longer over weekends).