GPS Forex Robot

Filed Under (Demo Account) by Casey on 24-01-2011

Broker: FXOpen
Deposit: $200,000
EA: GPS Forex Robot
Price: $149 ($139 if you try to exit the page)

Suppose to emulate my micro account. Thus this demo $200,000 should represent $2,000 if I were to put it live.

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Update 25 Jan 2011: Increase the lot from 0.1 to 1.0 lot on return is peanuts. Have to risk a bit more to see how well it goes… It’s a demo… so i shall crank up the juice a bit

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GPS is what they call an account blower. Why? The strategy they use is very simple yet… calculatingly dangerous. What GPS does is that it takes position at a certain time and scalp it. Oh… and I forgotten to mention that it has a very big stop loss.

So, if that trade is a loosing trade which is going to be huge, then the robot will take another position which is x10 the previous loosing trade the other direction to scalp.

Like any other Martingale strategy… it is a logically sound strategy but very dangerous… I have not seen it yet… but I believe the same principle will apply should the 2nd trade also becomes a looser… Then subsequent trade or the 3rd trade would be x10 of the 2nd trade…

So to say… if #1 = 0.01 lot… then #2 is =0.1 lot… then #3 is 1.0 lot etc etc etc

That is provided the previous position is a looser. So how many consecutive losses can I make to blow my account? Good questions… Something which I am trying to find out here with this demo…

The sort of EA that must be used properly and delicately… My kind of EA… :)

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