GPS Forex Robot

This is an entry for a Forex product called GPS Forex Robot. The official site for this product is at gpsforexrobot.com. If you’re looking for more info about this product follow the link.

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Comments

Hi

Has anyone bought this EA from Mark Larsen (he appears to be one of the better guys in Forex). I’m keen to know if it works as promised before committing.

Thanks in advance
Lee

Hi, I have. Still waiting for the first trade!!!
xox

Hi FX Cutie

Can you post back if anything happens and you get some trades :-)

Lee

Sure can!

Just had the 3 initial trades started, simultaneously!

All 3 are now closed, all winners. Total profit 13 pips.

I think this is a scam. From looking at the statements they posted. Its another those Fapturbo scam that will blow away your entire account with a couple of losing trades. Just take a look at the losing trades. The lost on one trade is 10 times more than the winning trades. A recipe for losing.

james

There’s a word for that – a scalper. Don’t use such words as scam lightly, especially if you haven’t even tried it.

Thank You Admin.
You are right

3 winning trades and support answered my e-mails, so far so good.

I need to know if gpsforex robot is good. I am just a starter

I purchased the GPS robot on 23 dec. easy to install. took 3 trades on 24th all winners and one trade today 27th also a winner. I looked through their account info before buying and traced the trades on my own platforms. all look genuine. James – look carefully at the losing trades and note that they are followed immediately by trades that more than make up for the losses. This appears to be part of the algorithm. Tunde – we all need to know if a product is good – the way to find out is purchasing it, testing it, perhaps by tracing the trades on your own platform, trading it (on a demo) and if it works to your satisfaction you can go live, if not ask for your money back – there is no problem with clickbank, they make rapid refunds when requested.
There is no reason to suspect this product of being a scam James – there is enough data provided to suggest it should work OK.

Hi

I am not yet purchased the GPS robot and since here is my question i need to help please.

1. Does this EA need to be updated every few months?

2 Iam using IamFX broker so do you recommend their VPS or need to use other VPS for using this GPS EA

3. Does this EA will be in profitable for 2011 or its only for the 2010 year only?

4. Does anyone know MArk Larsed contact number?

Please make this soon reply since it was limited EA.

#Peggy, no 4th trade for me :(

Bought this gps bot and missed the trade on the 27th as internet conn lost – got 60 days to trial this, but trades seem few and far between – so 3 demo accounts running and no trades – great. 58 days to go before refund.

My main concern with this is that it seems to use martingale once, but what happens when the “reverse trade” fails – you are stuck with a large loss. Alot of work has been put into this but for the time being i have to leave my pooter on 24/5 to bloody test the thing, just in case i need a refund. noting how many copies of this bot there has been, not many comments really.

I dont understand this – 3 demo accounts with different brokers and same settings barr amounts in demo account – yet 1 broker has a buy order at 11pm tonight and the others dont? – Any ideas

I am looking at this EA also. It looks very promising, and Mark Larsen knows his stuff.

Guys for those of you support the GPS EA..thats fine I understand. I hope the same as all you do as and that is hope this EA really works. But then again how many of this we through would the holy grail but only after a month of so it turn up to be garbage. Remember Fapturbo and others..they all look promising at the beginning and on the sellers website but only at the end blew away your account. I have been all that and thats the reason I think this is another scam. Just look at the losing trades…although the EA makes it back by going the opposite with 10x the lot size to make up the lose… Just take a step back and think about if a few of these trades don’t make it back to recover the losses. Trust me it will happen.

Hi SOA

Which broker does have the buy order ?

Does GPB EA recommend IAMFX broker?

Thank you

hi vigkram – yes they recommend iamfx and the ONLY broker that this bot worked on so far as has been iamfx. it was a succesful trade on a $500 demo account of $2.60

Hey guys. This is a scalping and martengale ea. There are 2 secrets in using such types of ea. First: high risk settings and hope theres no losing trade the next weeks, so earn in a really short time hundrets of dollars and withdraw. Second: minimum risk settings for long time growth, your account can just blow up if there are 5, 6 or more loosing trades in a row. Think about it. Good trades to everyone!

I agree with Destarrow. Its quite a risky EA so trade carefully. Im just like everyone else out there looking for a good EA but this one is a risky one smilair to fapturbo that evetaully will blow up your entire account.

Hi SOA

I need your assistance do you have gtalk or skype?

Thank you

Gone in for a refund – not happy that out of 4 demo accounts it just traded with iamfx??? which i found bizarre!considering mark larson is supposed to run a tight ship on things forex, i do doubt his work on this, and wether or not it actually does work long term. Anyhow good luck all that use it.

oh and with the martingale aspect of this bot – i would say that it does do it once, and i was told no more, so if the “refersal trade”aka martingale went pete tong then the bot wouldnt do it again to make up any more losses!

sorry vigkram not available to chat- all i would say is buy it and test it out on demo account, you have 60 to claim a refund.

I just brought giving that there is a 60 days refund so I am trying it now. I use Finfx as the broker instead of IamFx since they dont take US customers. One thing i found it strange is that the EA did excutes 3 trades but in OPPOSITE side fromt the ones I see on their website. Anyone have any ideas on this ???

I just found this very bizarre.

Hi SOA

Do you really hope does GPS Robot really works?
From your point of view?

Iamfx is the best for GPB robot?

Do you contact with Mark larsen?

Because i had never tried any robot before so i need your asistance?

Thank you

Vigkram just buy it and see – you have 60 days to test it. you will need to set up a demo account. I have no idea if it will go bust at some point, but this is not for me.

Hi SOA

I had email Mark Larsen about this GPS EA and here is the question and answered by mark larsen

But i have some question before buying this EA

1. Does this EA need to be updated every few months/

2 Iam using IamFX broker so do you recommend their VPS or need to use other VPS for using this GPA EA

3. Does this EA will be in profitable for 2011 or its only for the 2010 year only/

Answer:

Hi,

1. No

2. If you have stable internet connection you can use your computer. IamFX it’s a great choose!

3. We will see it! =) But it have great results on the forwardtests during last year and during last five years on the backs.

Regards,

WHat do you think about this SOA?

Have you tried fapturbo do you recommend fapturbo with good setting you had?

Thank you

Regards
Vigkram

I’ve been running GPS all week on demo. It has traded every day and all trades have been winners. The account is up about 3% for the week. However, for a US account this bot is MUCH TOO RISKY with the MM set to true. When it had 3 open trades my margin level was down to 208%. It is profitable because it uses a very high lot size but the average win is only 4 or 5 pips.
I haven’t decided if I’ll return it or set a small lot size which may make a few dollars a week.
It also trades a bit like FapTurbo in that all trades have been around 0 GMT. Frankly, I’m a bit disappointed and I think Mr. Larsen might be a bit “full of it”.

I have just added the account on fxstat for monitoring.

http://www.fxstat.com/perfomances/view/2969

you can also monitor the results and give your feedback.

the problem is this account is been trading on demo account and not real account. to be truly tested, they need to run it on Real account unless they are not very confident about what they are doing.

nevertherless, you r absolutely correct. If you have a US account to trade the EA..You will be in BIG trouble if you have losing trade because you will not have the leverage to do the resversal trade which the EA execute 10X of the lot size. SO BEWARE if you trade with it with the US account because all US account leverage is only 1:50 because of the new NFA rule.

Hi Expert Review, how can you get the EA before the selling start date. They start selling the EA on Dec 23rd but I see your statement is from Nov 24th as the start date. Are you one of the beta tester ?

Here’s a good review I found from another reviwer who basically lay it clear and truely..so BE CAREFUL for those who is using the GPS robot..
**********************************************************

After further analysis as regards to the trades taken by GPS Forex Robot, I decided NOT to buy this robot. Reasons are as follows based on what I have seen in the following statement
http://www.myfxbook.com/members/ForexMark/gps-forex-robot/72193

1) Investor Password Released is a Demo Account. If you can’t trust your robot on a live account, then how can I trust it with my money?

2) If you notice in that statement there is a loss of -$890, which is a little bit less that 10% risk on the $10,000 account which is crazy.

3) Just 2 trades up, there is a trade with 5 lots which is INSANE to say the least. Meaning that in that trade, 50% of the account was risked!

4) There is also some king of Martingale involved.

5) I have asked in their website what is the stoploss and to confirm that there is no martingale involved, but my comment was never approved. I have screen shots of my question being posted and submission confirmation.

6) 98% accuracy basically it means nothing since the remaining 2% are enough to blow your account.

It is a pity Mark ruined his reputation which took him years to built for a quick buck. And yes my comment on Forex peace Army is mine (if it gets approved, I don’t copy paste comments!) I just say the truth!

So this is no go for me, even though it may make money. It is not my style of EAs and probably would have claimed refund from Clickbank which from time to time I am risking not to have anymore

I strongly advise taking a close look at the GPS trades. When I backtested it:

A. on Oct. 12 on EURUSD it came within 1 pip of blowing up: it hit the -88 pips, went short and only touched the short target price (+19 at 1.3776 at 09:50) before reversing and going long again. This is on GPS’s own tracking statement.

B. on Nov. 12 it DID blow up the account – after hitting the -88 pips and then going short, PA didn’t go south long enough (downn 19 pips) before heading north again and never looked back. What makes this of special concern is that GPS doesn’t show taking a trade on Nov. 12 on its tracking statement, but when I backtested the robot, it did trade on this day!

Needless to say, I have requested a refund – won’t be trusting my money to this gizmo.

Just pure math:
First losing trade account will be down up to 12% (80 pips on EUR/GBP)
Second losing trade account will be down over 80% (88 pips EUR/GBP of five times the size of first trade plus margin)
Third floating trade – sorry, there will be no third trade, but plain vanilla margin call.
If you stop GPS from opening third trade after two first loses you will need no less than 160 trades without any loses to find yourself where you started, using default settings. Two trades per day means 16 weeks of trading.

Actually with 20% of the original equity you will kill yourself trading the original size. So in concussion boys and girls two strikes and we are out.
Good luck.
Tom

This bot only buys eu, only shorts eg, only shorts usdchf… this is part of the strategy. I have had no losers since launch… but it is scary when using mm setting and it takes a long on eu and everything has been pointing south. Regardless of win streak, I won’t really have much choice but to return this… because of the martingale. If you are looking for trades thru out the day… you won’t see them… it trades same window of time everyday.

GPS will not survive two losing trades in the row and at default settings it will blow your account. Total loss after second looser would be greater than 100% equity on you account.
With 1K account and default settings of 0.01 per $100.00 it would need $1,800.00 to close two consecutive losing trades. (first losing trade $135.00 0.1 lot with STP Loss at 88 pips plus second trade with STP Loss of 220 pips and $7.50 per pip on EUR GBP, position 0.5 lots)
M

Gps is a scalper EA which means it will take big losses but on this ea it doesnt seem to happen very often.Try this on a demo account first and see how it does,you might have to scale it down to one or 2 pairs depending on your risk tolerance.

I know the person who wrote the money management and no its not a scam.
What I do like about GPS is they have stopped selling copies so they wont flood the market and make it less effective.
Fap Turbo was a very good Ea but too many copies were sold and the brokers got hold of the EA and figured out how to Blow your account with the EA.

EA traded on my live A/c today. A successful trade on EUR/GBP,and EUR/USD worth 5pips each. Took a short trade on USD/CHF,( a seasoned trader would have called this
suicide ), sure enough closed trade – loss of 91pips! Then proceeded to take a LONG trade at 5 X the amount allocated. Finally closed it manually at -21pips to avoid margin call. Mark Larsen used to be a guru. Today he appears to be nothing more than a peddlar of a forex software, he knows nothing about. Quit while you r ahead. Learn a proper manual method and stop relying of scam artists who won’t even put their live A/c on their EA…

Now the true color is coming out from this EA. I have warned about the danger of this EA when it first came out.

But there is too many believer who dont want to accept reality of the danger.

BTW Steve… R u the same guy actually the marketer who sell all the grabage EAs out there ?

Just to let you know guys that this is the biggest SCAM. After 2 weeks demotesting I went live this week on my VPS account with 2300 USD at Iamfx. I’m using the standard settings with setting mmManagment True.
With one bad trade (USDCHF) is my hole account wipeout (MarginCall) and unfortunately have only 209 USD left.
First the EA took a short position on USDCHEF pair with 10% of my account (standard settings) and after 88 pips lost the GPS closed the short position and went long with 5 times more lots exactly on the top of the market and the trade went again 150 pips against the trade.
This EA has absolutely no Stoploss and you can lose your money in only one bad trade.
I guess right now I’m not the only one. Is there anybody have the same experience as me?

Yeah bro…never believe robots again. It’s better u go to casino and bet. U will be much happier and u can enjoy it. I have tried it. U should try…!!!

Believe me… there is no robot in this WORLD that can make u profit. If it really can make money, why they still need to market and sell it again? That is to get profit from selling robots to you all, isn’t it?

The case is like this…If you find gold & treasure, are u going to tell everyone? I believe no. This is like the robot case… if it “really” can make money, then why don’t they just withdraw all of their money from banks, sell their houses, cars, and motorcycles… then put them all into their forex accounts and use robot to trade from them. That’s the problem….!!! It’s because they already KNOW robot will make them LOSE.

Hadi

You got that right Hadi !! I getting my refund after trying this robot for 2 weeks on demo.

Like Johnny said, all it takes is one lossing trade to wipe out your account with this EA. Mark Larsen is a scam artist and he always has been. He was never a real fx guru. Look at all his sites that reviews the robots and systems, he was really the affliate of those company so he can sell the systems for them. He is not really reviewing them truly!!! Its a BIG SCAM !!!!!

Haha…i do agree with u James.
if i may suggest…it’s better for all those guys who want to double up their money to put their money into mutual funds. it is safer than using robots. (except your robots are robocop, transformers, or something else haha…)

I am a forex, stocks & options trader from Asia. I have been trading for so many years. So, my suggestion for those who would like to double up their money…can follow what i did many years ago…go to “the best only” mutual funds company in your city. Look at their performance. If u don’t believe the company or u are afraid with them, try to invest a few first and wait to see the results.
Finally, take away all your money with all the profits 1 or 2 months before the election in your country. Because..usually it will be bad at that time.

This is the suggestion for people who do not have any trading experiences. I truly it is safer than using robots.

Hadi

The majority of posters seem to be totally against robots. May I ask: What are you doing here?

campco

Campco, this main focus of this forum is to discuss the GPS robot. The reason is that the robot is a scam and thats the reason most of the posters here is against the gps robot

Sorry to hear all the negative experiences. I purchased on the 27th of Dec. 2010. Trading four demo accounts and two live accounts. Not one loss yet.Check out the live running account that they have been running since Feb. of last year. When you have a losing trade and it goes against you 89 points, the trade is closed and then a reverse position is opened at about 5.5 times your original lot size, then a 17 point move with make up for the loss, plus. So you must anticipate that by using a small enough lot size so that if the trade goes South, then your account will still have funds to be able to take the trade as I describe above. Sorry to disagree, but Mark Larson is the only person I have seen that has any credibility. That is the only reason I bought this EA. I have spent more than 10K on forex robots in the past two years (only if they had had a 60 day money back guarantee)So far 11 trades, live account up 16% in three weeks. Do your research before you before you start complaining. And no, I don’t know Mark Larson personally, I have only checked out his site were he reviews EA’s. If you are using this EA, make sure your lot size is small so it can handle a reversal trade.
People that will succeed, are the ones that do not give up.
Best wishes to all who are seeking to better their lives with an extra income.

Frank, im glad its working for u so far but if i were you i would start taking the deposit out and just level the winning in there to trade. One day you will have the 5.5 times reversal trade go against you then your account will get wipe out base on the lot size you trade now. That trade just has not come yet thats all.

By the way, my account has not blown up yet either but I stop the EA becasue the when I notice the reversal trade is 5.5 times of the regular lot size traded and thats the reason i stop. Also mark is not a guru as some of you think. Just look at all the EAs that he rated 5 stars for, he is selling all of them for commision. Its a scam! dont fall for it.

Hello to all,

Sorry for my language. I use gps robot since 22 december. I purchased it when it was released. This ea works great for me on my real money account in 17k start deposit – already 54 consecutive profitable trades and near 45% without of clear profit. I very trust to Mark and follow him during last 2 years and put gps on real money after my backtests without tests on the demo. Yesterday I make my first widraval in 3k after using gps robot and when I got this money I was just happy!

I not understand why some of you think that it’s not good robot because it works very good for me and for my friend Satoshi (he make widrawal in 800) so far. I use two copies on my two real accounts, the second is in 6k and have profit in 17% so far. I will wait new version and if to this time gps robot will show so great results I will purchase one more copy maybe.

Hong

Hong, thats a great idea that you are making the withdraws so this way at least when that one bad comes out that will blow your account away at least you have recoup some of the money you put in. Just make sure you keep making withdraw because that one bad trade will show up but hope thats not anytime soon so you can make enough profit to cover your deposit.

Oh by the way. Mark is a scam artist. not to be trusted. Take a look at all his website that reveiws the system. They are all fake reviews where he actaully sells the EA for the vendors.

I not always use default settings. By the way I asked about this problem my close friend and good trader from other forum which also use gps robot, he says that gps robot has build-in filters of volatility, “fast” markets and other which will make an analyses of the current situation on the the market and change SL level, and most important, this filters not will working on the backtests, so what we will see on the backtests with the SL of reverse trade it’s not big sl lever, because gps robot will protect your account. By the way I have four more profitable trades, so already 58 consecutive profitable trades on my account! I’m happy so far! Moreover, I heard that in the nearest future will released new version of gps robot where traders can change all parameters of trading.. Also I want to ask why this trick with filters and protection not will working on the backtests, because if it will working all traders can buy more copies if they see good results during 10 years for example.

I not agree with you James, Mark it’s great guy and trader, it’s really does not matter who he is, more important that he give to us useful information and truth! For example only he write in his review that Primeval EA it’s a scam because some part of the code was stolen from fapturbo and this is just one example from hundreds.. he really open guy and always answer on your questions. I don’t want to say that I really often tell with him, but when I do it he was always polite ,kind and most important give useful information.

Hi everyone,

My experience so far is positive, I have the robot from the day of its release.
After analyzing their movements, it is clear that there is nothing known, GPSForexRobot Martin is not a gala, not using indicators or anything like that.

GPSForexRobot, enters EURUSD purchase from Monday to Friday at 00:00 GMT 1, and USDCHF EURGBP, on sale from Wednesday to Friday also at 00:00 GMT 1.

Some days one pair does not fit, is supposed to be part of the strategy, analyze the market and if something does not open like the operation.

Concerning the risk, if it is true that is at special risk especially when it comes in lots reverse multiplying by 5.

One solution is to not go over-leveraged, and come with a small amount.
If it is true that earn less, but just in case things get ugly Margin call is avoided and losses that could leave the account very seriously damaged.

Team GPSForexRobot say the number of entry should be 0.01 per 100,
eg $ 1000 one should go to 0.10,

If we go with three pairs would be 0.30 and the capital management policy is not met.
As another option would be to go to 0.03 in each pair. The possibilities of large losses decrease significantly.

We try to get and not get there fast …

GPSForexRobot I think is one of the best expert advisers
on your network, but like everything there is always a risk …

This is where we use the head.

“Sorry for the failures of writing this is google translator”

Our experience with GPS Forex Robot has been nothing short of fantastic. Since purchase, the bot has made 100% winning trades on both demo AND live accounts (live account other than IamFX and not subject to FIFO). Been trading FX since Fall of 2007 and this bot is by far the best and shows the most promise of all the others we have had the misfortune of trying. The key is keeping your risk setting low so when it does open a trade in the opposite direction with 5x the lot size your equity can handle it. The most common mistake newbies make is overextending themselves (their lot sizes) and too much risk. Where we are today, it’s better to have low lot sizes, make a little everyday, slow and steady – this strategy can put food on the table. Don’t be a fool and over extend your account, get it blown then blame the bot when you actually own the issue.

In support of Mark Larsen, honestly, I can’t say we’ve had success with everything he’s recommended but he comes across as an honest, knowledgeable and straight-up guy who’s interested in helping most dumb-ass, newbie, wanna bees get to a successful place in their trading life – b/c they have no shadow of a clue themselves.

Again, this bot is by far the best and shows the most promise of all the others we’ve used since the fall of 2007 – and that’s a long time.

We will continue being one of his customers.

I agree, all my calculations point to max. of 2.5% for risk. Preferably with MM since two pairs could be under stress at the same time. It will take longer to get where your going with profit but the chances of success are higher.
If you go with anything higher than this the acct. will blow out with margin requirements of 25% min. for most brokers. e.g. 11% risk: on $l,000 acct. will bust if 5x lots kicks in and the trade goes more than 103 pips against you/this goes for any amt. of deposit by the way (remember: it has a S/L off 220). 5% risk and 2nd. loss will take you down 66.8% overall (200% up will recover your loss, approx. 50wks-good luck!!) So guys thinks about it, if you are wanting to throw it away quickly or go at it slowly but still with great risk. By the way 2.5% takes 60 wks. to double your deposit (avg. 8.4 pips/day)

Good luck to you all, Roger S.

I agree with Roger. If you want to generate 30% return as advertised with Mark Larsen. Your account will below up fast but if you use 2.5% as Roger point out..it will take forever to double your account so now everyone is Mark still a honest guy ??

Hi everyone. Have anyone tried forex Hacked.. Its very great guys. I have been running on both demo and my live acc. its fantastic.Its trades best on GBP/USD pair. Since i got the robot i am skeptical to try this gps robot. But i would like to try it out since it trades the EUR/USD pair.
If anyone wants to try forex hacked just email me. I would also like help on how to get the gps robot since i couldnt purchase it online.

one piece of advice from me is that if u want to be a good trader u need to learn the arts of the trade yourself instead of relying on bots to do the job….learn to do it even if it takes years to be competent.

Good Morning everyone, I have already posted a comment, but I thought I would update. I now have two live accounts using this EA. I just printed a detail list of trades, wins are 97.14%. And yes, I have gone through the big loss, then a trade reversal done automatically by the EA and came out with a net win of over $400 on that trade. This EA is the best by far that I have ever bought and as I said I have spent over 10K on these type programs (money back guarantee). So I have been using this EA since Dec. 27th.
If you can trade manually and have a win ratio like this EA, God bless you, you are great. I just don’t know anyone that can do that. I know some say that this can’t work, but it does. You must make the decision for yourself, get a demo account and let the program run and see for your self.
If this program crashes my accounts, I will let you know, but it has been running for more than two months with real money and with a profit of 27.1% during the past two months.
And NO I don’t personally know the people that made this program or sell them. I just trying to do the same as everyone else, make some money. The banks pay less than 2% interest on your funds.
I wish you all the best and may you succeed in your quest.

Hi Frank,
Thanks for the update.
Do you mind sharing the settings you are running the EA with?
What pairs?
Do I need a min balance to start with?
Did you experience high DD?

Fred

GPS is just outstanding…I suggest you use MONEY MANAGEMENT on GPS with 2000$…It will grow double in 2 months…

Repeat comment of Roger February 6th:
” I agree with Roger. If you want to generate 30% return as advertised with Mark Larsen. Your account will below up fast but if you use 2.5% as Roger point out..it will take forever to double your account so now everyone is Mark still a honest guy ??”
I had consistent small winners and suddenly a few huge losses … like let’s begin again

I’ve been running this for close to a month. Started at 5% risk and increased it by 1% every time I got a profitable trade. At 15% I stopped even though I kept getting winning trades. Running in a live account with FXDD with a bit less than $3.3k.

I get anywhere between 1 to 3 trades per week. Have never had it gain more than something over $16. Initially, this upset me. Risking 15% of $3.3k to make $16 is damn crazy. Risk/reward is FUBAR here. Guess you have to rely on the ridiculously high probability of success. Typical scalping stuff even though the site says the robot is not a scalper.

So far, its made $129.42, would probably be close to $170 if it had been at 15% all along. I had a $88.20 loss followed by a $95.40 gain when trading at something like 7% risk. For some time, this last trade was losing a shitload of money. It was rough looking at my computer those few hours before it turned around and closed for a profit. Still running it at 15% risk. Let me know if you’d like an update a month from today, lol.

Its close to 2 months I’ve been running it, not 1. Just checked my trading log dates.

I am new GPS client and dont speak english well( I spewak spanish only). I feel Mark Larsen and his team are honest and want help us really. Is very important understand gps recomenations, about lot size in relation with your size invertion ( 1 lot for each $ 100.00 ). GPS will do the rest. I truly hope it will do all ok.

Nice day for all.

I have purchased the GPS Forex Robot few days ago and I currently have it on my real account. While I was evaluating Mark’s statements that are updated almost daily on the website, I have noticed some rare big losses; so far I have four win trades; I have noticed that the robot trades at 23:00GMT. Since they claim that the robot drawdown is less than 10%, so I have made a decision to monitor the trade and close any trades manually at -12 PIPS; which means at an average 4 PIPS profit, I would need 3 winning trades to take care of 1 losing trade; Try it for yourself and happy PIPing

It has just halved my live account.

It went from $1000 to $1100 a bit more than 3 months. Not bad, but not NEAR close to what Mark claims in his website 50% PER MONTH!

But now in 1 day it lost $525.
Stupid Martingale strategy and I fell for that.

Stay away from it!

Another funny thing!

Robot always sends an email after every trade it opens or closes. No email now that account is blown. I understand the trade was closed due to a Margin Call and not by the robot.

I have the GPS robot about 4 months, it didn’t lossed yet but there are few important points that should be known.
1) the robot works about two or three times a week with a take profit of 5 pips and leverage of 10.
2)Some times the GPS robot will close a negative trade and after that it will open a reverse trade, which will make profit and cover previous loss trade. In this case the leveage will be mulippied by 5.3 ,and if in this time the robot will loss than you can wipe out all your account. so it is very risky.
3)You should remember never close GPS robots
trades manually! when you close a position , the GPS robot open a reverse trade.and than you loss a lot of money.

I have used GPS for about three months. It trades EURUSD (only buys), EURGBP (only sells), and EURCHF (only sells). It goes for small pips in a one-hour session Mon-Thur. I have not had a trade on EURCHF or EURGBP in 2-3 months. I have only had trades on EURUSD. If the trade goes the wrong way it waits until it’s gone about 1,000 pips, then it closes the trade and opens another trade 5 times the amount in the SAME direction, not the opposite direction. The idea is to keep going with the momentum to recoup the loss. It has worked for a while. Last week a trade went bad and the strategy did not work. The EURUSD went back up a long, long way right after the original trade closed and then I was in a lot size 5 times my original trade going the wrong way. The unrealized loss and margin got so large I was worried about margin calls on my other open trades. I had to close it and took very large loss – more than I had gained in three months of trades. I no longer use it. Too late to get my money back.

tried that back test its not correct it wont even do it so i don’t know how this is working scam non of those robots do any backtest in any time frame is all B**S crap. u ca find it on ebay cheap as well they are getting rich with selling something don’t work .

I have just installed the GPS Forex Robot. Can you please tell me how often it has traded in June?

The creators suggest doing this on a m15 candle and an h1 candle. So I set it up for just a .1 lot for both. Who has actually used this in a live trading environment lately?

Vladimair, I strongly urge you return this piece of garbage that Mark Larsen (by the way He is a BIG scam artist !!!!)put out. I brought this EA and a few friends brought it too and we all lost money and got our account blown up even we use conservative settings. You may see the EA work for a month or so but when there is one losing trade it will blow up your entire account so Take my advise and return this piece of shit and save your money for something else. BTW Mark Larsen has always been affilate for all the commerical EAs. He is NOT a bias reviewer as He said he is.

So far its been outstanding. Do I wish it traded more often? Does a bear shit in the woods? Patience people. Patience.

Roy

Forex GPS is painfully slow however it does make consistent gains. Have been running the software for three months now and the EA has not lost a trade. I think profit is dependent as well on which broker you use. IamFX seems to be the best.

I used GPS successfully from september 2012 to April 2013. On April 4 2013, the primary trade hit SL and the reverse trade would have hit SL too if it did not trigger a margin call first. Outcome is I lost 80% of my account balance ($x’000s) worth over a year of meticulous trading.

I shared the audit log with GPS and they believe it was due to improper GMT setting. Whilst it was on the day the DST changed I think, there is an auto GMT setting within GPS and it was set to ON. I also compared the bars rather than the time my trade opened to theirs and they look the same to me.

Anyway, the lessons I learnt from this are:

1. scaffolding losing trades can twist the odds in your favor for some time, but time will come when you have exhausted all your ammunitions and the blow will cost you dire. So better select a strategy that posts benefits whilst taking the bullets as they come.

2. to evaluate the real risk of a strategy, add the SL of the complete series of trades that the EA could open to salvage the position and add swap fees for the time this series of trades remain open.

3. with straight win / lose strategies one can potentially boost the lot size and make money faster than an EA where you have to workout how much ammunition you must keep to deploy the scaffolding trades.

bitter :(

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