Quote:
Originally Posted by mitaji  This is my point... none of these EAs have worked as well as they are marketed. What these guys are selling you is a 'Dream' and we are too blind/stupid not to ask the right questions. The key weakness about EAs/robots is that they cant think!!Therefore, without discretion they are bound to fail sooner or later. If you are using these EAs, use money that you can afford to loose. Open a small account (not more than $300) then grow it if you can. Your risk will always be $300 that is if you are profitable.Guys, there are no short cuts to riches, so quit thinking about 'making money while you sleep' and try to be a better trader. |
Uhm - ya, what he said...
The check is in the mail Mitaji!
Me thinks there's an echo in the room... as this was pretty much what I was "expressing" over the Easter break about this and one other EA.... But I think someone said we were not too stupid... or if we did, we weren't giving people proper credit for doing their homework - I suspect in the end, it's a mix of all those things... n00bs that buy into the hype - Burned out traders who are looking for an edge in a new a changing FX market... or ??? I dunno... Despite SCAM warnings everywhere... people are desperate I guess... and do buy into the hype (hell, even I did ONCE) and I'm as skeptical as the come.... But anyway - I'll digress once again... (but good post)...
That aside, that's not why I came to post tonight (just ran across it and couldn't resist piling on LOL)... But in all honesty, this Bot has actually caught my attention despite my harsh criticism upfront (then again, it was only a few days into the wild... and NO ONE - including the "original" affiliates, had a clue how it would perform)... but seems to be doing fairly well for 13 days...
My Q was though - why IKO FX is trading such huge lots?
1117232009.04.21 22:59buy2.50
(and no, I didn't read the setup/FAQ's on this one) - but was just passing by and flicked thru all the 12 brokerages - and that was an obvious stand out...
Secondly is, this puppy is basically a scalper... Maybe not like TFAPS but - most trades are opened and closed within 15-60 mins... in and out... and shuts down... I see no long trades? Which may not be such a bad thing - for as we've all noted, EA's don't have "brains" and aren't smart enough to know what to do when a market reverses (despite the claims this bot can "See into the future") Puleeeze...
Anyway - sorry for the cynicism.. Been a rough week, and every few days when I pop online here to watch another EA go up in smoke, I must say I crack a little smirk.... cuz PC is just showing the world that all these internet "experts" and marketing gurus are only interested in your $97 bucks.... I think the advert says $363 A DAY in profit? I know, that is averaged and annualized... But just doing some lose math here, I'm seeing the BEST at $9 a day... but also assume they amp up the lots as your "profit" (and risk) grow...
Anywho... I'll now fall back on my disclaimer - that if this puppy does end up performing 50% of what it claims it will, without huge DD's (backtesting showed, what? 36% DD's?) - then I'll be the first to buy it from PC's affiliate link.. but till then, sorry, but I need more than 13 days to be convinced... Plus, these are demo accounts, and as we've seen with some others, cash accounts seem to net different results than demo accounts even on the same broker... so - I dunno... Squirrely business we're all in for sure...
Cheers,
KB