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USDBot
26
Jan
Donna’s Review:
USDBot is the one we are hearing the most shouting about on our email the past week or two so i decided to get it when it was released for sale today.
Immediately, i was dismayed to discover the upsell tactics on proud display yet again. Once you have payed out $149 for the system, you are sent to another sales page promising you something even bigger and even better, ONLY another $77. I went for it in the interests of research. That wasn’t the end of it, there was yet another upsell after this, saying something about how special i was – one of the “chosen ones”, i now had access to the manual system behind USDBot, for ONLY another $49!!! Well, i wasn’t going to fall for that one and just clicked the “no” option then got presented with yet another sales page offering me that same manual system for $27 (sorry, anyone who purchased it at $49!).
Anyway, annoying sales tactics aside, here are our stats for the account starting today (note, if this is blank it is because the account was only started today! click the graph to view detailed stats):-
We are running USDBot (original) plus the upsell USDBOT Adaptive, both on the daily charts of the recommended two currency pairs, EURUSD and USDJPY.
On first glance i really do not feel this robot is ‘newbie’ friendly. The instructions are very brief, and some essential elements of the install/setup process are not described. The original USDbot is not adaptive to 5 digit brokers – although the vendor does provide a settings file for those who are unsure of how to alter the settings. I would recommend using this even if you are sure of the settings, because there is a lot that needs changing for 5 digit brokers.
Confusingly, the ‘adaptive usdbot’ is compatible with 5 digit brokers although there is no obvious mention of that until you open up the settings and discover that yourself in the settings list. This had me hunting around their site for a time looking to see if they had a .set file for this strategy as they do for the original, before i realised. It doesn’t help that they actually use the same trading manual for both systems, even though they are very obviously pretty different from one another. I don’t know if i’m missing something, but i also cannot find a comprehensive list of what all the settings are and mean, and there are a fair few settings in the list. Most of them are self-explanatory for the more advanced robot trader, but for a newbie they will be very bewildering.
USDBot uses a take profit and stoploss of 100 pips, and implements a trailing stop of 30 pips. The adaptive version appears to have stochastic indicators built in to it of which there are settings in the parameter list. The EA is ECN compatible and there is a setting to adjust for ECN/nonECN (an issue i didn’t find explained in the manual and so could be a problem for newbies again if you do not know what ECN means – if in doubt, always put ECN mode on, it won’t actually hurt if your broker is not ECN). Original USDBot has a money management setting, but the ‘adaptive usdbot’ does not – something i’m not understanding at the moment but that’s how it is.
Sorry to say that this long review has been more about their sales and processes rather than the robot, but it’s all i can comment on right now… and wanted to get something up as a lot of people are emailing us asking about this one. Do keep an eye on our results, they will tell the truth behind this EA and whether it really performs as well as they claim it will, etc. something which in my mind is in serious question since the vendors own live account is still very new.
Finally, the EA is sold via Clickbank, complete with their usual money back guarantees.
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Donna, I've been following you since Jan 09 on the FAB Turbo forums etc. Your energy and patience answering all those repetitive questions from newbies (such as myself), month after month has been exceptional, and what you are doing now is great.
Your straightforward approach to Forex trading with EAs is a breath of fresh air. I really like the simple black and white approach to the website as well.
Bob
60 Comments
I have just read the post from C TOM RED and his comment is rediculous. If he put his thinking cap on and became an affiliate he could purchase any affiliate connected product at a greatly reduced price and still get a refund if not satisfied. Just leave Donna alone she is doing a good job.
PS This is the first blog I have written in and I am just a steady laid back trader with no connection to anybody.
I received the new release about usdbot…I tested by using mt4, as you can test yourself, and I did not obtain good results…I started with an initial capital of 3500 Euro on eurusd and the test move from 3500 to 650…
I tried to change some parameters, take profit and stoploss, risk and so on….but nothing..
there is too much difference from fapturbo and megadroid EA…I know that it’s more difficult earn money everytime, not only during the asiatic period as do fapturbo and megadroid, but I am not confident yet to let it run alone…
pier
Hi all, I finally gave in to the call of the clickbank refund process for all 3 USDBOT purchases. Absolutely some of the worst support ever provided. The updated version manual still does not go into enough detail about the parameters & also contradicts itself on the EUR/USD setting more than once. I have tried the updated version on 4 & 5 digit brokers & it has not yet made any trades because of the error “not enough money”. After re-setting the lots to 0.01 I noticed that for some reason the bot changes the parameter back to 1.0. I don’t think that this bot will ever function correctly & more importantly “safely” so for those reasons I’m out. My theory is that this is definitely a SCAM & Mark Trenton & Co. are using stalling tactics by promising better upgrades & better optimised settings in the future, I wonder if that future is the day after your clickbank refund runs out. I wish everyone the absolute best of luck with this bot but whatever you do, DEMO first! Happy trading.
Paul
I purchased usdbot over three days ago and have had trouble loading it. Despite their statements about fantastic customer service, I cannot get any help from the support team, no reply to e-mail,no contact numbers ….simply silence. I was looking forward to trying it out but I too will have to look for my refund….! Very disapointed with the USDBOT promise and subsequesnt after sales service. It is simply non existent!
Hi there,
I used the bot again and it has made and lost lots of money. I felt too that this was a scam so I requested my money back. If I do start to see positive and unbiased reviews then I will buy it back but until I do I too am out.
Scam Alert USDBot investigation team at 4xproject says, After a hint from a member our SCAM investigation team analyzed Mark Trenton’s USDBOT in detail. The expert advisor sold as USDBOT has been taken from the forex factory forum without permission from the authors. To protect their business the vendor replaced the robot then with USDBOT V2. This one has a completely different trading logic and uses martingale which put’s your whole account in danger.Don’t buy USDBot ask for your money back.
I have been running USDBOT on demo for a week and have been blown away by the results.
My $5K demo is now $7600. I think it trades too much, 50 trades a week, but that aside, it is winning around 70% of the trades. Which is the same win % they have on Forex Peace Army.
I realize that the EA employees a “Martingale” strategy, but it seems to be working. I imagine that a person would need to run it on it’s own account and withdraw profits regularly.
I saw “somewhere” on the web that this EA could also be used on the GBP/USD & AUD/USD pairs, so I have been using it there as well. It has not done well on the AUD/USD, losing 8 of 14 trades, but it has still banked a profit of around $700 on that pair. I will stop using that pair. It won 7 in a row on GBP/USD.
Again, not a perfect EA, needs to be able to adjust a few things, but I am more enthusiastic over this EA than any I have ever used and I have demoed around 10 EA.
Wish me luck, Jim
After losing again again with all version they sent: V1U, USDBOTAdaptive and USDBOT_V2STEALTH (you can try yourself by using MT4 simulation)
I asked the refund..then I find this interesting article:
http://www.4xproject.com/expert-advisors/review/usdbot/
Just back test this EA for a reasonable length of time and you’ll soon see that it is a death trap for your account! Trade it live at your peril.
Apparently, the reason why USDBOT changed from their original first version to the USDBOT V2 right now, is because they actually took that EA from a developer and sold it, not giving any credit to the actual developer. I found this information on 4xproject.com, and forexpeacearmy.com
Now, the EA is different from the one advertised on the USDBOT website. This means that all of those live statements and “live accounts” do not reflect the new version, USDBOT V2.
I have actually tried asking for a refund twice already, but have gotten replies to continue to try the USDBOT out for a couple more weeks suggesting how great the performance on ForexPeaceArmy and 4xProject are, and to make sure to change my version to V2. FPA’s results don’t show great results, and 4xProject suggests to get a refund and to STAY AWAY from USDBOT. So it is obvious whoever contacted me from the USDBOT support, has not seen the website lately, and a little too obvious that they do not want to give back my refund, and are trying to wait out until the 60 days of the money back guarantee has passed.
I suggest that if USDBOT has not been performing well, like for me (both demo and live accounts), then I suggest to get a refund before your 60 days are up and don’t wait.
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