Forex Boomerang

Donna’s Review:

Ease of Use:

Control of Risk:

Customer Support:

Overall Rating:

Despite having had Forex Boomerang on a successful demo test now for a number of months, we are still not wholly confident in this robot or it’s abilities. Initially the account did very well, our fears only showing some real foundation in recent times as performance has declined.

Forex Boomerang is very easy to use and set up and has minimal settings to alter. Boomerang using a take profit of 90 pips and a stoploss of 110 pips, trading the highly liquid EURUSD pair. On default settings (or with a high maxlots value) this robot will trade at VERY LARGE risk. Therefore it is highly recommended that you do not use the inbuilt uncontrollable money management, but instead specify as your maxlots setting, a value which you would rather trade at (there is no lots setting to choose a trading size, only a maxlots setting). We are using a setting of 1 lot.

 

Although this robot is meant to be compatible with all brokers, we have had many reports of people having issues getting Boomerang to trade with ECN brokers.

Our overall opinion then, is that this robot isn’t one which is really worth making a huge fuss over. I don’t think it would blow your account up in a hurry (as long as you keep risk low!) but i doubt it will grow your account at all either.

Update 25 January 2010

Boomerang has been on test for a long time without making a profit we have decided to remove it from test

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