Forex Cash Bot is a new Forex robot that promises to work. But don’t they all?
From the few back test statements of this robot I could find we can tell some details about this EA. First of all it doesn’t use a stop loss, but has the built-in targets which can be set in the parameters. The back tests are done with 50 pips for stop loss and 30 pips for take profit.
I consider that to be a drawback because that makes a risk to award ratio less than 1, i.e. risking more than one profitable trade can cover. It may look good in the back tests, but there’s a reason why the ratio is generally recommended to be less than 1 in real life trading. Otherwise it’s tested on several currency pairs on 1 hour time frame.
Forex Cash Bot software has two up-sells which reveal the pricing of the product. One of them is another version of the EA, and another is software updates for a fee of $49 per month.
- Cost: $39
- Currency pairs supported: Multiple currency pairs
- Guarantee: 60-day money back guarantee by Clickbank