The Instant Forex Profit Robot from Kishore M, ex hedge fund manager and featured financial commentator on the likes on BBC and Bloomberg TV, has turned a small part of his Instant Forex Profit trading course into an EA for those that don’t have time to watch the charts and instead want the freedom that comes with trading automatically.
I put this new EA in my testing lab and from what I can see here are my initial findings:
- Trades any pair with a spread less than a 1-10 pip spread
- Maximum spread requirement can be updated
- Can have multiple open trades at any one time
- Uses a variable stop loss starting at about 50 pips
- Uses a trailing stop loss to protect profits and limit losses
In terms of a strategy – there are two trend trading strategies in play:
- Multi-trader – Long term, looking to enter a trade after a trend is confirmed.
- Momentum – Short term, looking to enter a trade at an early stage.
There are plenty of settings for you to adjust to find the perfect profit pulling combination. The only variable that you’ll be restricted by are limiting the currency pairs to the ones you wish to trade. There is an option to NOT trade all currency pairs but but I’m unsure how this works at this stage.
It’s early days, i.e. day 1, but it’s trading a lot so there’s a story to tell already. Let’s see how it gets on:
Test 1: Independent Strategy Testing
2011 to June 2012 strategy test with all curreny pairs turned off and run on the EURUSD H1 chart:
View full Instant Forex Profit Robot Strategy Tester results
Currently running Instant Forex Profit Robot on Hot Forex, testing started on 5th June 2012. Current results using 10 pip spread maximum are as follows:
| Current Floating Profit ($) | Total Balance ($) | |||
| 0.00 | 9238.31 | |||
| View our Instant Forex Profit Robot Demo Test Statement | ||||
Update 6th June 2012:
- I’ve reduced the maximum spread to 2 pips. Hopefully, it will start acting more conservatively.
This statement looks like crap.
You paid for this ea? So far it’s only cool videos and mumbo jumbo that we see everywhere, but where are real results? Can’t find any on the web.
Good luck on your test. I might buy it if It behaves nice in the future.
I’ve updated the test above to trade only pairs where the spread is two pips. Let’s see if the results get any better.
Hi!
I’m testing this ea from the so called and famous guy, who seems to be JUST another net marketing “guru”, he’s covering a lot of fields at the same time, he’s a “well oiled” machine who looks to appear legit, but I would stay away from his so called holy grails.
I’m testing him during the 60 days trial for $150 and so far i’m down almost 300 pips on 2 days of testing (on all pairs), and i have almost 100 negative pips floating.
Well in the website we can see several times 50-100 pips per day… i assume these pips to be positive pips.. and not total losses.
I will test them for another week and then probably going to cancel my purchase at clickbank, because the product sucks… i prefer to trade on my own.
Keep us updated, but for proper testing you should use ALL pairs like he advertises, that would be a 100% test like the one he advertise.
Look this!!!
http://www.youtube.com/watch?v=Y-TlGZVufIo&feature=youtu.be
It’s not difficult sorting the scammologists (Bill Poulos, Kishore M, Dittman etc) from the tried and true forex trading veterans. Just stand back and look at their modus operandi. Then try checking things you see, hear and read against reputable websites like this one, Forexpeacearmy, DonnaForex, exytrtraders.com, traderscountryclub.com, Google Wiile Guevara (thewilliebox.org). Willie is a consistently profitable trader whose “willybox” technique returns a consistent profit in his live trading room and via his trade-copier. The Traders Country Club gent (John Sheely) knows all there is to know about 4X and share and bond trading and runs a trading-room plus regular $500 courses that are almost impossible to get on…. unless you’re referred or apply directly. He’s additionally a Renko guru who knows that technique inside out. He’s also the inventor of numerous proprietary indicators that really do work. And if you’re after a prop-trading apprenticeship and employment, you can’t go past Vertue Trading (alan Vertue’s outfit). Their tuition, trade-room and range of EA’s is what makes my trading profitable. That’s gotta be the bottom line eh? Rely upon all of the above knowing what they are on about – and steer clear of the shysters like Bill Poulos of Profits Run and the Kishore M’s. They are a blight upon the face of FOREX. The forex world is replete with scamsters and sadly lacking honest individuals like CAM and his ilk.
Well my review since I started using this. Since 3 June I’m testing this on a live account with all normal settings as recommended and trading on all pairs that the bot can trade.
They promiss 50-100 pips per DAY!! yes per DAY..
and i climbed up till +400 pips… but a losing day wiped all profits.
I’m right now with -64 PIPS.. yes -64 Pips …
it’s a bit different -64 vs 50-100 per day
Don’t fall for scams like these, i’m still testing this for another week and then I will ask for a refund… $150 is too much for a crap EA that trades like crap.
another day passed and i’m down with -26 pips and with open trades at +120 pips since i’ve started.
Let’s see how it goes for next week.
What pairs are you trading atm?
LOL since I’ve started i’m with a total of 0.8 Pips profit.
VERY VERY DIFFERENT than what they advertise 50-100 pips per day.
What pairs are you trading at the moment?
They released a new update and sent to me to test..
seems that this new update is loosing more than the last update…
I’m glad I asked for my refund…. this product is totally inacurate. Not 50-100 pips daily but -50 to -100 daily
This robot gonna wipe out your account balance in a month.Believe me I have tried