This GPS Forex Robot review finds similarities in this new robot and Rita Lasker’s Fish Forex Robot. The Russian developers, Mark, Antony & Ronald have created a robot that opens 2-3 trades (each on a different currency pair) at midnight and then looks to close each at 5 pips profit. However, if the trade goes in the wrong direction and they make an 88 pip loss, the’ll make a calculation using the loss and open another trade (in the same direction as the loss) using a lot size that will neutralize the loss (a bit similar to martingale).
GPS Forex Robot Essentials:
- EURUSD, EURGBP and USDCHF pairs
- 5 pips profit
- 88 pip SL with Martingale type claw back
- Trades execute at midnight
- 98% accuracy
View detailed FxBook Statement
I’ve managed to get a copy of GPS Forex Robot so into the lab it goes!
Test 1: Independent Strategy Testing
2006 EURUSD Strategy Test results risking 1 Lot.
View full 2006 EURUSD Strategy Tester results
2007 EURUSD Strategy Test results risking 1 Lot.
View full 2007 EURUSD Strategy Tester results
2008 EURUSD Strategy Test results risking 1 Lot.
View full 2008 EURUSD Strategy Tester results
2009 EURUSD Strategy Test results risking 1 Lot.
View full 2009 EURUSD Strategy Tester results
2010 EURUSD Strategy Test results risking 1 Lot.
View full 2010 EURUSD Strategy Tester results
2007 EURGBP Strategy Test results risking 1 Lot.
View full 2007 EURGBP Strategy Tester results
2008 EURGBP Strategy Test results risking 1 Lot.
View full 2008 EURGBP Strategy Tester results
2009 EURGBP Strategy Test results risking 1 Lot.
View full 2009 EURGBP Strategy Tester results
2010 EURGBP Strategy Test results risking 1 Lot.
View full 2010 EURGBP Strategy Tester results
2007 USDCHF Strategy Test results risking 1 Lot.
View full 2007 USDCHF Strategy Tester results
2008 USDCHF Strategy Test results risking 1 Lot.
View full 2008 USDCHF Strategy Tester results
2009 USDCHF Strategy Test results risking 1 Lot.
View full 2009 USDCHF Strategy Tester results
2010 USDCHF Strategy Test results risking 1 Lot.
View full 2010 USDCHF Strategy Tester results
Currently running GPS Forex Robot on Alpari UK, testing started on 15th February 2011. Current results are as follows:
View our GPB Forex Robot Live Test Statement
Lab Result:
This EA will last only two losing trades on default settings. It will lose up to 7% of the account’s equity on first losing trade (up to 7 pips) with STP Loss of 80 pips and up to 90 pips but 5 times bigger size on the second trade. So when you add both loses and margin you just lost over 50% of your account. And you have not room to open third large position with STP Loss of up to 90 pips. So you will happily make profit till one day due to one single trade going wrong entire account will lose min 60% but if you are not lucky 100%. It is true if you are lucky you will make up to 30% per months. 1 2 3 and you are a history
I purchased GPS and opened a FXCM demo acct Dec 30, 2010
$3000 / 100:1 / Mini
EA installed quickly on 3 pairs.
So far as of today (Jan 11) have 18 trades – all wins.
All taken at 23:00 hours and most closed quickly.
At one point had opened 3 trades (.30 lots each) for risky margin of $1500 (made me nervous).
Current Equity:
$3252 = +8.4%
Will open new demo with 50:1 to match my live leverage.
BTW – support has been spotty – 2 of the past 4 email questions have been answered within 24 hours.
GPS will not survive two losing trades in the row and at default settings it will blow your account. Total loss after second losing trade would be greater than 160% equity on you account. (for EUR GBP and 65% for two other pairs)
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 $7.50 per pip on EUR GBP, position 0.5 lots).
So with every single open trade you are risking your entire account on default settings. You could protect your account from being blown up by lowering position size by factor of 5 but than your profit would get lower by the factor of five as well and never be greater than 7 to 5% per months.
To recover from such loss you need no less than 5 months providing that you will not get hit with second loss like that. I you would there will be for sure nothing to recover from, you are history.
Yes, if you are lucky and only lucky you will be enjoying profit of up to up to 30% per month till the
Day or Judgment, and regardless what you have been told and what you want to believe this day will come.
Good luck
M.
I bought this EA. There is a bug if you are using it on sunday with a broker with GMT adjustment = 0 and running it in New-York. It open at midnight, instead of 18:00, on New-York time and can produce surprise. It wip-out 60% of my account. You need to have a proper margin too to not have a margin call. I plan to use it on a Micro account 500:1 on FXOpen wich run on a proper time zone for this EA and cash out or transfer the profit weekly, and cross my finger….
Cams, something that DOES concern me, if you look at EUR/GBP pair in end of 2008, why the sudden huge dip in backtest?? (top)
Sorry, 2009, not 8, and there are other pairs with same problem at end incl two EUR/USD’s
Too much draw down… account blown.
This was using their recommended settings, if I had run back tests trading less than 1 lot per trade this most probably wouldn’t have occurred.
But then in other words it then lost twice in a row isn’t it? Meaning it saw it was in wrong direction, increased its lot size, started in “right” direction and then STILL ended up in negative but BIGGER loss??
Yes, essentially.
Done!
After 3 month of constant 3 times a week 20$ profit with 0.5 lots…
But last night GPS took a buy EURUSD and stopped the loss at 07:07 AM GMT+1 with a loss of 440$…
Same minute it opened a sell position of 2.6 lots!!! Naturally, trend reversed and it quickly went on high loss to the point that 09:45 I had a margin call and a drained account!!!
Naturally, when I saw my account around 12:00, rate was back higher than the entry level of the first trade and I was reassured it took its 20$ again… Until I discovered the total damage on my account!
So angry I did not cut the loss at -200$ (confident on the sideway trend) or turned off the robot trading!
S..T!!!
So play with GPS on demo or STAY AWAY FROM IT (as long as you cannot have a constant eye on what it does!)
A truly deadly robot….. which may actually be being triggered remotely. For many months now it has only traded EURUSD. Once it gets into an 88pip drawdown it reverses direction at 5 times the lot-size. Poor you if the EURUSD also reverses trend at anywhere the same time (as has often happened). Mike Larsen tried to kid everbody that a new verson with an extra pair and more sophisticated logic was to be released in early March. Here we are in mid July and no sign of it (the 60 days Clickbank refund period having come and gone – which was the ploy). Larsen squandered his reputation and credibility on this “Robot”. Rating = historical interest only
Curiously enough I’m always happy and relieved when GPS Bot goes to sleep and doesn’t trade. So I was deliriously happy all last week. No trades on 5 different brokers, yet one on a sixth….. on the Wednesday I believe.
It’s getting progressively more and more unpredictable – I guess it’s that Mike Larsen’s boys are too busy living the good life and just forget to trigger the 2300GMT trades. They’re very busy working on their newest scam anyway. Should be interesting. These marketing B.S. ploys are getting more and more outrageous (cf the PipsChaos and Pips Avalanche rubbish). Hope everybody’s remembering to set their calendars for their refunds…..
Remember: Every and any promiss the vendor does, on every and any ea, the only real Guarantee for refund you have is 30 days!!!
Plimus or Clickbank will not “force” refund after 30 days!