Saturday, May 19, 2012

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GPS Bot Review



Currencies & Time Frame

EURUSD, EURGPB, USDCHF, H1
Trading Style

scalper
Other Products by Developer


Merchant Service & Price

Clickbank - $149

Description

GPS bot is being marketing by a somewhat well known Forex system reviewer. The sales page is a bit over the top with a video that starts as soon as the page loads. The video promises 30% returns per month with real live proof, and goes on to talk about the scam nature of the forex robot industry. Mark Larsen goes on about "black box" systems and pitchy sales pages that promise unrealistic returns... which seems ironic since GPS Bot is fairly black box. The only settings you're able to change is risk and lot sizes, the rest of the system's take profit and stop loss are not adjustable. They pitch the broker IamFX in the sales copy and in the instruction manual. IamFX is headquartered in Panama and is not regulated and I believe they are owned and operated by the same people who sell FAP Turbo, operate MT4stats, and many other metatrader 4 related forex stuff.

Conclusion

GPS Bot is a scalper with a lopsided risk:reward ratio. The system will make a large amount of winners for small gains, but will give up sizable losses. The entry seems to be highly accurate but we still don't like the risk ratio or the fact that the system isn't adjustable and the sales page doesn't seem genuine. At least you have the clickbank guarantee...

Discussion
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Risk Warning

Foreign Exchange trading involves substantial risk of loss and is not suitable for all investors. Read Full Disclosure.  The Foreign Exchange carries a high level of risk and is not suitable for all investors.