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ForexCashMagnet.com Review Visit site

Updated: Jan 5, 2015
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1 REVIEWS
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1 REVIEWS
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Howard Graves,
Palm Springs, CA, USA,
Aug 24, 2012,
Guest

This is truly an account draining piece of garbage. I tried this out on two separate demo accounts, and then on one live account. at first you see lots of green "take profits" and only a few "stop losses" hit. Then you do the math, and you realize you just broke even, at best. Yes, there is a 20 pip take profit and a 80 pip stop loss, and every few days you will suffer huge losses.

I followed all of their advice about not trading on Fridays, about reset in the EA after a 20% gain ( I have to laugh at that one).

In the end, you will consistently lose.
Mike,
Daventry, United Kingdom,
Aug 1, 2012,
Guest

Hi
Have tried for a month resulting in a 6% profit. Trades 85% success rate but TP 20 pips and SL 80 pips so could get big drawdown if several losing trades in a row. So far maximum consecutive losing trades 2 and winning 7. Total trades 76 and was losing mid month but a run of seven winning trades put it well in profit. Max profit reached was 8% but since then 4 losing trades out of 13 minus 320 pips plus 180 has brought the profit down. Too soon to rate but will continue trial