Well there is good news and bad news here in my opinion anyway. The good news is that they not only honored my refund without any hassles at all, and did it promptly, they actually even honored it even though I was 1 week past the 60 day refund period.
So that is the GOOD news. The only reason that I requested a refund was because of the only part of a product like this that ultimately matters: Everything else is simply hype and mumbo-jumbo. Having "confidence" and a "winning attitude" is all great, but again at the end of the day, are the signals profitable or are they not?
So after following all the FPM rules with the software to the absolute letter, the bottom line is that I lost money. Not a lot, and there were several wins and times when I was positive in equity, but overall after 2 solid months, I was down. Now for some people, being down after 2 months could be looked at as simply a temporary drawdown, and maybe it was, and maybe over a longer time horizon the signals ARE profitable, I cant say for sure, and again the support and ancillary services are GREAT.
But my preferred time horizon doesnt allow for a multi-month drawdown period. Its just not my trading style.
I actually specifically emailed them that when I ordered the system. Losing trades, obviously happen. Losing days, even down weeks, pretty tough to avoid completely.
And that is what the signals resulted in for me. All in all, its a pretty simple breakout system using stop orders and 4H timeframes. This system does not educate you on how to trade Forex and secondly, it based on algorythems just like a Forex Robot that is faulty at the best of times. Also, being a new trader, I have to admit, i did get caught in the hype and I have since found a proper trading system that brings profit and know for sure that this does not. Bill is all about marekting and anyone that sells out of Profits Run, I would be very weiry of sudh a set up.
It seems his system works well in strongly trending markets, but doesn't do well when the markets get choppy or trades sideways. I am going to give it one more week, but if things don't improve, I am going to return for a refund. I have subscribed to a number of instruction packages from them and in general believe that these are a good way to learn about the FX market as the instruction starts from the very basic and the material is very professionally packaged. For a beginner the instruction is indeed quite good although a bit simplistic as all methods tend to be moving average crossover-based.
True, there are some nuances to this but of questionable value. FPM is a bit of a mixed bag as it touts its software as being a huge differentiator. The problem is that most people will indeed trade the software's recommendations which should basically automate the process the method itself haves you go through without a real understanding of what is going on - and Bill is a HUGE opponent to automated trading.
While it does not execute as an EA on Metatrader, they do claim it to be high probability and as a result new traders will follow the alerts religiously and then claim to be making pips by the 's. As is the case with all the instruction provided from Profits Run, all the instruction is based on the left side of the chart and which is then justified accordingly with the right side of the chart.
If it did not, then they explain away with all sorts of explanations of why one would not have entered the trade, unfortunately one would not have had these at the time one entered the trade as they only appear after the fact indicators. Bill quickly explains how this is not the case because of the prompt movement of stops, however in practice the account will take quite a hit on a FSO - full stop out.
Basically one trades the 4H bars with typical targets of 40 pips and stops of pips. The majority of the people buying into these programs are not fully aware of how volatile these markets can be and while paper-trading can be lucrative, the reality of actual trading is not properly presented. I cannot imagine that the majority of people are trading a properly-sized account to be taking on full standards but instead trade something more along the lines of micros.
Having said all that, I rated it a 2-star because the software is still buggy and inconsistent alerts differ when comparing two computers with it running and this is what most people will follow. The program itself is a 3-star for content and definitely 5-star for presentation. Their return policy is absolutely phenomenal though so I applaud them for that. Just make sure to read and comply with the terms though which in this case added the requirement to document trades done over a day period.
I would like to help you through these problems. I believe we have identified a slowdown and crash issue that may be affecting you. Please allow us to try and solve the issue. Ticket Details Ticket ID: Forex Profit Multiplier" then on 1st november as reply to my new mail i got this: A possible solution to your problem will be released this week. We will also be extending your guarantee period, which will start as soon as your software is working. Forex Profit Multiplier" On 2nd november i got mail form bill poulos as follow: You should be running version 1.
This update solved issues with crashes and saving the program settings. Are you still experiencing problems? Forex Profit Multiplier" and i replied to them as follow: When you made your purchase, you agreed to a refund policy that required you to show us 2 weeks of trading. This was set up so that you can give the course a fair chance. The software is just a part of the course and you do not need the software to trade the methods taught in this course.
At this point, you are still not eligible for a refund for the FPM course. Please go through the program, trade it for 2 weeks 10 business days , keep the log and then make your decision to return. You might find that this course is worth keeping. Trading Software , Forex Training. Live discussion Join live discussion of ForexProfitMultiplier. Video Your company video here? Let other traders know if this service is worth checking or should be avoided.More...