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This product is really new right now (9/12/2011). All I can tell you at this point is that after scrolling waaay down the page, at the bottom I noticed a JV’s link, I clicked it, and there are a lot of upsells after folks purchase the base product. In my mind, this product doesn’t look very promising. The presentation is slick and polished, I’ve got to give credit where credit is due, but I mean come on. If making money using this product were really as cut and dry as the presentation makes it seem, what need would there really be for all those upsells? To make our trading automated and easier you may perhaps be saying? Ha, yeah, right. The whole product seems to be primarily geared towards making the “jv’s” bling bling. Let me tell you something. I have both the Wall Street Cloner EA which is supposed to be a trade copier, and I also own Fap Turbo, both the main 54 version and Ichimoku. You’d think I’d be making more money from using the Wall Street Cloner EA since it’s a trade copier, right? I’m not though. Fap Turbo is making me far more money than Wall Street Cloner, and Wall Street Cloner is supposed to be copying the trending trades of Wall Street directly onto my account! I’ve experienced and continue to experience all sorts of errors with the oh so great and fabulous Wall Street Cloner EA. Download errors due to broken connections with the trade server, invalid trade lists, on and on. Fap Turbo meanwhile, just slowly but steadily continues to build up my balance.
@Brandon
I do absolutely agree with you(Brandon), FAP Turbo is the best among other forex robots. Currently I am also using FAP Turbo 54 and Forex Wallstreet, they both keep my balance steady compare to other robots, and their price is so reasonable and there is no monthly charge. Especially FAP Turbo, they keep working hard updating the robot without any addition charge for people who has purchased the earlier version.
I am suggesting to fellow traders not to purchase any monthly subscription robot as most of them are failed, they might be good at the beginning, but then they could clean up your balance less than half year. Autopipsprofit is one of bad experience, I was once subscribed with them for 3 months then I canceled my subscription because they cleaned up my balance in a few days.
Wish you all the best in forex trading, think twice before you consider to buy some trading robots.
Do NOT buy the Forex Ghost Trader!!!!!!!! Yesterday I purchased the $37 per month service and when I got in they had all of these extra upgrades which was an immediate red flag to me. I kept hitting NO, I do not want to purchase the upgrades. I was going to give them a month with the basic program I purchased to prove themselves and if they failed I would cancel the service. This morning when I got up I checked my email and found that they had charged my account not only for the original $37 but also a fee of $1 and $497 for a total of $535 when I had only approved the original $37. I immediatly closed my bank account so that they can make no further charges. My bank has assured me that they can get the money back. I have cancelled the Forex Ghost Trader and have requested the return of all of my money as well. I would highly recommend that nobody purchase this service. If they can’t get their accounting right then how could you trust their trade advice. They are scammers and losers in my book. Bob
Final ruling, I have now also taken Fap Turbo Ichimoku, Forex Overdrive and Megadroid off my charts so now I am not using any robots at all. My account is now down from $10K to $500 so now I must learn by myself how to bring it back up.
Bottom line is ….ALL ROBOTS are rubbush. They work now and then, make nice consistant profits now and then but ultimately all they do is draw the account down with a few LARGE losses that ultimately wipe out the account.
That is the end of me and robots, it is now up to me.
Based on the comments of Bob concerning his purchase of Forex Ghost Trader, we should practically stay from any future products from David Schwartz, the producer of this product. It’s deceptive sales and unauthorized charges.
One tip. Before we go ahead and buy any product from those sales pages, try closing the web page/go away from that webpage first. It’ll try to persuade you by giving you something for free, the product at lower price or for a trial. If you did that, you would have been able to download a Ghost Trader (without the auto-trading) for free, and also if did that a few times, you’ll come to a page offering you a 3-day trial for $1 (which is actually too short to do any worthwhile test).
Thanks for the comments guys. Has anyone tried Forex Hijacker from Canonbury publishing or Pro Auto trader recommended by Vladimer Ribakov who has seemed trustworthy and genuine in the past.
Thanks for you guys input, am glad i check with first,
i was hesitant to purchase when i herd the guys void
sound like some one i bean hearing all year round selling
allot of system. Listen to this guy check if you did not
here thank same person selling other system, just some one
wanting to do another hit and run on the expense of hard
working people like us who are trying to make something out
of the market.
@Bob Bridges, no, I haven’t tried Forex Hijacker, nor have I tried pro auto trader. However, like you, I too have read genuinely positive things about Vladimer Ribakov, and I have also saw some pretty positive feedback about a product that I believe was being offered by a gentleman named Bil Powelous (I may have misspelled his name) called (if I remember correctly) the Forex Income Engin.
@Noob I also am glad to be working with (and more importantly profiting from) the trades that the Fap Turbo EA makes for me. I also agree that the whole one time payment thing, coupled with the continuous development is really very nice. Your comments are well received by me, and I would tell anyone that the advice you’ve offered in this section is solid. Thank you for sharing your thoughts and advice.
@KMTOPGUN I don’t mean to deal harshly with you sir, but I genuinely am curious, what kind of risk and agressiveness settings are you instructing these EAs to use when trading for you? You took a $10,000 account, and using just three EAs you depleted all but $500? Was that account a live account? I hope not! Perhaps your take profit and stop loss levels are just too high sir. You may want to keep in mind the fact that sometimes a single pip can be worth several dollars. I enjoy scalping, but even so my philosophy has always been, and to this day it remains, slow and steady, slow and steady. Using that philosophy and two EAs (Fap Turbo standard and Ichimoku, along with the Wall Street Cloner EA) my account balance has grown by more than $500, in about two weeks.
@Kingsley As unfortunate as your situation is, I thank you for sharing your experience with us all the same.
@Jermain I agree with you sir, ain’t it a shame? Take heart though, there really ARE, SOME, legitimate products out here. For example, I think we’d all do well to keep our eyes on things like the Surefire Trading Championship, and/or the automated trading championship. One product that I know used to be endorsed by the Surefire Trading Championship is a product called Forex Rebellion. It’s a manual system, so that automatically renders me unable to benefit from it, although I’ve heard that it is definitely a profitable system.
I tried Forex Ghost Trader, and it is a scam. It quit working, could not find the server, the license number to operate it did not work. Their support stinks, sent many emails with no replies at all. Cancelled my subscription. Hope to get my money back from Plimus.
Hi people! Lucky I read this !! I got to the $1 page but when you read the subscription terms it was in excess of £120 per month yet the spiel stated $37 – all those upsells are a disgrace. I had it with Wall st cloner and like the guy said, the support was non existent. I got all my money back from Plimus, they were very good, apart from when I suggested they should not be allowing such scams on their service, they went a bit quiet then. My advice (for what it is worth) just do a bit of studying, choose a system or trend and then trade it yourself – I have had more success that way than paying scamsters! Good Luck everyone – Mike
Hi Brandon, sadly my $10K loss was real money and it was through a combination of 12 different robots and also my own trading.
Problem is I am a gambler and that lost me $5K but Auto FX Millionaire, Fap Turbo 54, Million Dollar Pips and Forex Overdrive wiped out the balance.
I stupidly and greedily did not use correct money management so in many ways I am absolutely to blame but as for the robots I have used, all without exception have made 15, 20 25 or more profitable trades catching 3, 5 ot 10 pips at a time but then they all have one or 2 massive losses which are 300, 450, 600 and even 800 pip stop losses.
Upshot is that a good robot can take small profits but then it must also take small losses then one has a good chance of getting ahead even with not sao good money mangement..
Certainly I will tell everyone, Forex is no place for GAMBLERS. Also there is no value and it is absolutely stupid to try and make up your losses by increasing lots in the hope of a quick gain.
I will still stick by my comment that so far to date other than Megadroid which does not lose but only makes 1 or 2 trades a month, all other robots are truly crap until such time as they can set seriously lower stop losses.
PS, I have been demo trading with ZuluTrader, a mirror trading platform which is actually an amazingly brilliant system BUT they are too greedy, they take too much of a cut for the benefit of this site and to give you an example, I was up +1,780 pip on a $10K demo account with positions of 0.1, 0.2, 0.3, 0.4 and 0.5 and my net profit was only $87.00. Pretty bad return for such a high pip profit.
Hi KMTOPGUN,I’ve read your posts and I totally agree with you. I confirm that only MEGADROID makes profits regularly one time a day or less, but there picks are almost good. The advantage is you don’t stay in the market, just wait the following trade in flat position, that limits risks.
I’ve this EA from June 11. The only problem is I’ve so lost money in Forex, Futures and Stocks, then I can’t try it in real.
Guys ive tried nearly every EA and signal service going, the only way to make money in forex is to trade manually, since i started to trade manually ive been making steady profits. good luck guys
I think half the problem is, is that the marketeers for these products are very good. They prey on peoples greed more than anything, and the allure of quick riches is just fools gold.
I have been through the EA route lots of times, and have never found one which woudl actually work and make profits, so now it is fully manual trading for me, and my own strategy – which suits my trading, means that I know exactly what to expect, I know what my absolute risk is beofore i go into a trade, and also know that I will be building up my bankroll slowly. I am also writing a blog – with trades included so that it is open and honest for everyone to see (and no, i am not charging for it).
I just wish people were honest. It is possible to make money on forex, and people who sell these robots I am sure have no understanding of Forex at all.
I have read though this blog and agree that EA’s are garbage and so to paying for trade copiers. My tip for all traders since im full time trading manually, is to understand fibonazzi patterns, look up korhamonics, zup and stay with MM. Forex is an art of mathematics, patience and not being too greedy.