Comments on: Forex Robot World Cup

By: Fanie

Fanie — Wed, 07 Apr 2010 10:42:33 +0000

Got the world cup robots, ran on 1 demo account and 2 live accounts(Micro lots) All of them lost money. When after 6 weeks I wanted a refund FRWC wanted to stall. Told me to give the robots time because in the Forex market it takes time to make money. I asked them why then do they advertise it to make 325% in 19 days and the results of the competiton over Christams. They did not reply just sent through the refund. I think they where just trying to play for time so that the 60 days will pass and no refund is then available. I do nNOT recogmend this product.

By: JONATHAN

JONATHAN — Mon, 05 Apr 2010 03:56:15 +0000

hi sam hely
are you having success with EA ’s of FRWC??

By: James Ryan

James Ryan — Fri, 02 Apr 2010 15:27:49 +0000

I agree totally with Robert who stated:

“i for example looked at all the trades hirider placed, and it looks like it falls apart in 2 methods:
1 – sl 105 tp 7
2 – sl 210 tp 12
such a huge sl as in method 2 will give an 45% drawdown when hit. luckily for them it was not hit within these 2 months”

I can confirm that what Robert observed about HiRider DID happen to two of my demo accounts recently, with both GallantFX and FXCM….and on the lowest settings.

HiRider nearly blew both $1000 demo accounts completely. The same applies for Straasha. I disabled them within Fusion. All I can say is thank God it wasn’t a live account!! They are both VERY risky and need serious recoding if they are to be safe & profitable long term EA’s.

And yes, the competition should have lasted three months MINIMUM (preferably more). Two months is nowhere near enough time to evaluate the long term results of the FRWC EA’s.

By: Wann

Wann — Thu, 04 Mar 2010 02:26:36 +0000

oh yeah, this was on demo only!

By: Wann

Wann — Thu, 04 Mar 2010 02:25:51 +0000

@Jeff

I can confirm that very same 50% drawdown. However, I was using .05 for Fusion on FXCM UK micro. I don’t know how they managed to survice 2 months on .10. It is suicide if you factor in the possibility of 10 open positions @ 210pip SL(HiRider). Anyway, I started from scratch and used the recommended .01 per $1,000. I also set max trades for HiRider to 5(down from 10).

-Wann

By: Felix Udoh

Felix Udoh — Tue, 23 Feb 2010 23:56:09 +0000

Fail to understand how anyone can write off a project / product with no first hand experience of it by testing etc, but each to his own.

Traded for almost a week now and main danger is allowing too many trades to open. Most trades are winners but better to limit your risk by allowing only small number of trades by each strategy at a time.

By: Jeff

Jeff — Tue, 23 Feb 2010 22:52:26 +0000

Saw a live forward test of Fusion. Had a 50% drawdown as of yesterday, with Hirider being responsible for 40% of it. Just a heads up.

By: angus

angus — Tue, 23 Feb 2010 07:35:30 +0000

Hi Donna, I have searched your site endlessly but cannot find the link to buy the FRWC robots through you. Habve read all thecomments and your reviews so far and as usual they are up to your high standards…..thank you. Are you offering any bonuses?with the purchase of the robots through yourself? Thanking you in anticipation of your reply

By: Donna

Donna — Sun, 21 Feb 2010 22:08:30 +0000

Unfortunately there is nothing we can do to help you here, that is the price of buying these robots. The only other option would be to try the $599 2 installment option, although it will end up costing you more. Ultimately, you need to be able to justify the purchase, and i don’t think a $999 expense is justifiable if you only plan to trade with $500 (it could take you at least 6 months if not more than 18 months, to recover your purchase costs if trading conservatively, longer if you use very low risk)

Donna

By: Donna

Donna — Sun, 21 Feb 2010 22:05:36 +0000

Hi Melinda,

I hadn’t heard anything about EURUSD being taken off currency trading. Where did you hear those rumours? I would think that it is highly unlikely since this is the most widely traded and liquid pair.

Donna