Not for the Worrier
THE GOOD:
The potential profit with this EA is great, and it's fun to see it on a winning streak.
THE BAD:
It's too easy to have a big drawdown, and makes trading more of a gamble than some other expert advisors.
THE BOTTOM LINE:
Forex Hacked is a good name for this product, because it implies a certain roughness which this robot has. It can open the door to large profits, but you have to be careful not to be greedy, otherwise you might get wiped out early on. It's not clear how it works, except it tends to double down a lot on open positions, hoping for a retracement.
You can expect it to trade a lot, so it's an exciting robot to use and watch.
REVIEW:
The Forex Hacked website has a lot of information, but doesn't tell you much. Instead, it provides lots of good results. But one of the big winners is the trend reversing feature which looks for extra profit when a trend reverses. If it gets it right, this is a big payday, but you have to be able to "stay in the game" and you must expect some failures and a big drawdown. You just have to make sure that you don't over extend yourself, and only use small lots.
After reading other people's comments about it, the answer is to start small and make sure that you take any decent profits out of the account, so you can hang onto them. That way you can consistently make about 5% per month.
Don't be put off by the website. In the FAQ it says there are absolutely no refunds, but the About page says you have a 30 day moneyback guarantee. I didn't return it, but customer support is good and I expect they would honor the guaranty if you decide it's too risky for you. Another important note is that it doesn't comply with the National Futures Association regulations, and this will affect who you can open an account with.
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