This EA or robot is being promoted as never losing a trade in 8 years. They even go as far as posting the statement on the website to support this claim. However, one must ask oneself how is it possible to trade for 8 years without losing?
The answer is that the robot trades without any stoploss and goes for a small 7 pip gain each trade. Most of the time this will work.
Infact it may work fairly well for months, but there comes a time when the robot trades just at the top of a reversal, and Whamo!
I just made a quick glance through the statement printed on the website, and one example is a trade opened on The important question is what was the drawdown during that period? That's a drawdown of USD over 3 months to eventually gain 70 dollars for one standard lot traded, not to mention the swap interest charges which could have also worked against you.
It's a bit like hoping you won't fart; you don't most of the time, but eventually you will. That's a drawdown of USD over 3 months to eventually gain 70 dollars. I think that you have in a way answered the question yourself. You write that "you" trade without stops. What really alarms me about these systems which are now being sold by an enormous army of affiliates is that they are being targeted at people with no trading experience.
This particular marketing exrecise states that "if you can click a mouse you can trade forex". The account statment shown goes back before Metatrader existed, so is a back test, which is not stated and creates more possibilities of loss due to slippage and bad fills in addition to the inherent risk I have already stated.
Of course you trade with a stop. If you don't, then you've been losing for the last 4 years. Be it mental, or an actual pending trade, I'm quite sure there's a point where you will close a losing trade. All you have done is insult a fellow trader. Please, if you are going to the trouble to make a post, then intend it to be helpful, and let's be civil to one another!
Free Forex Trading Systems. That's a drawdown of USD over 3 months to eventually gain 70 dollars: It's a bit like hoping you won't fart; you don't most of the time, but eventually you will That says it all!!! I notice you post a lot but don't say anything. Didn't they ban you? Hello Brian, your post provides no information which may be useful to anyone ao I ask you "What is the point" in your post.More...