However, the main strategy used is stop and reverse. This means that the robot is programmed to open a trade in the opposite direction if a trade stops out. If a trade reverses, the contract size is automatically increased. Experimenting with a demo account will allow you to find out which GPS Forex Robot 3 settings are the most effective.
Using it with a demo account allows you to become familiar with the system, tweaking the settings according to your trading style, strategy and preferences. Company transparency — This company offers evidence of documented, verifiable profits since These are easily accessible and available in real time. Developed by industry professional experts — The team behind this robot is an experienced group of forex brokers with extensive knowledge of FX trading and markets. The day money-back guarantee offers additional peace of mind.
It allows you to request a no-quibble refund if you are not happy with the software or support. Efficient — The robot works both quickly and effectively. As long as the optimum parameters are used, traders experience few losses. You will need to research and learn about the best settings for the robot. Members zone — An exclusive members zone is available, offering a place to ask questions and take part in forum discussions.
If you are considering purchasing GPS Forex Robot 3, you should consider the following disadvantages:. It is vital to use the appropriate settings — This is important to minimize losses. Spend some time researching the safest settings to use. If they are not, you could end up with a much bigger loss. Finding a broker can be difficult — Identifying a broker willing to support high leverage can be a challenge. If you do manage to find one, it will likely be unregulated, so you should be mindful of the risks this might present.
Customer support can be slow — GPS Forex Robot users have access to a dedicated support team, however, they can sometimes be slow to respond. It is wise to learn as much as you can about using this EA by trialing it with a demo account first.
Ask questions as they arise so that you are confident using the robot by the time you move on to using it with a cash trading account. Infrequent trading — This robot does not trade as frequently as other EAs, which can be a source of frustration for some users.
Market volatility — Volatility within the forex market can have an impact on the success of this robot. Significant capital required for reverse trades — Users must ensure they have sufficient capital in their account as the GPS robot will need this for reverse trades to be successful.
Mixed user reviews — Many users have highlighted that this robot uses the Martingale strategy, although the creators of GPS Forex Robot 3 insist this is not the case. Martingale is a high-risk strategy that involves cost averaging, where the exposure amount is doubled on losing trades. The main risk is unexpected market volatility. This can trick the robot into making several losing trades, thus increasing the size of the trade each time it experiences a loss.
If this happens, your account will quickly be emptied, so you must pay close attention to market conditions and volatility. Using an investor account login, anybody can view live trades in read-only format. Accessing this account is the only verifiable way to check the profitability of the GPS Forex 3 Robot. There are no limits as to which robots and strategies can be used as long as they are legitimate. When used properly, GPS Forex Robot can be used to create automated trading strategies which can create increased returns on your trades and investments.
No, the use of Forex robots is not illegal. It is important to be aware, however, that some platforms will not allow the use of robots so you should always check the policy of your preferred platform before using a robot. It will not make you a millionaire overnight, but if you use it effectively, it could allow you to make a reasonable profit over a longer period.
However, to do so you will need to research settings, strategies and techniques to be used with GPS Forex Robot 3. You should never use an EA to trade with real money unless you have tried it with a demo account first.
Using a demo account allows you to learn more about the robot's features and settings. You can then use it to your best advantage in a live trading environment. You should consider whether you can afford to take the high risk of losing your money. WikiJob Find a Job. Jobs By Location. Jobs by Industry. Jobs By Type. Register Your CV. Career Personalities. Under smooth volatility conditions, the GPS FX robot can indeed generate effortless profits day after day.
So the lower the drawdown , the better, even if profitability is less. There is however misrepresentation in the way that the product is being marketed, claiming that it does not use a Martingale strategy. There is an element of risk here, since the creators argue that there is no Martingale strategy involved in the software, but as you can clearly see the GPS forex robot uses a strategy known as Stop and Reverse.
If a losing trade occurs, the software senses the criteria for opening a much larger trade in the opposite direction. As you can see on the above actual MT4 statement, the hedging trade is 7 times larger in size than the losing trade , that is classic Martingale strategy ;-. So in reality there is risk involved, that is risk of unforeseen volatility which could trick the software into a series of losing trades, which would end up blowing even a very large trading account completely.
Market volatility is a big risk for all investors and traders, at all time frames. Unforeseen volatility can ruin even the largest trading accounts, because there is no easy way for implementing money management. Traders use a certain money management technique, but volatility can still trick the trader or the automated software, into making trades where the market fails to move enough in one direction, or where too much confusion is created.
Users need to pay attention to their market charts, and volatility especially. GPS forex robot is capable of blowing even a very large account. The fact that small accounts were blown but other large accounts made big profits using this product, is more down to the careful meticulous use of the large account users, in regards to volatility and settings, and not down to account size. There are times where it can fail catastrophically if weird volatility phenomena take place, which could trigger one losing trade after another, increasing the trading size each time, thereby blowing the account.
If the airliner encounters some weird turbulence there is a remote but still existing possibility, that it will crash. As the turbulence can fool the software, under certain conditions, and make it do all the wrong things. Which is why despite all automation, pilots are still in charge of all flights.
Dealing with volatility and being well prepared for volatility changes, will help remove most of the hidden risks, and will ensure realistic, profitable results all year round. Recommended by ProfitF :.
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Patrick Ryan November 1, 22 Comments. Mark Larsen is a well-known developer in the Forex market. There is no address provided for their company headquarters, but support can be contacted via support gpsforexrobot. With that being said, I will focus on the software, the results provided by the vendor, Mark Larsen, and then make my way to some of the community feedback I found and what my overall opinions are about this trading tool.
He seems to be one of the few robot vendors that actually stayed with click bank throughout the years. The story behind the software is that 4 years ago came up with the idea for robot can be sustained in any market condition. Mark join forces with 2 traders named Antony and Ronald who eventually led to the creation of the trading robot that supposed to work like a GPS navigator that predicts short-term movements with a high probability. The package comes with the software, the trading manual and a single license for live trading.
There is a 60 day money-back guarantee that is offered through the ClickBetter payment processor. The software takes a slow and steady approach and over the past 8 years the system has only racked up trades, most of these trades came in and since this year they have been less and less. In there have been only 19 trades, which means the system is trading only times per month. I have done some extra research on Mark Larsen and the original GPS Forex robot and like any other system on the market there are positive and negative reviews.
There was one review by a man who claims himself to be the lazy trader that went into great detail about the GPS software and he tells us that he believes Mark Larsen is a scammer. I am not sure about the viability of his claims so I cannot comment on this further. Though, there are some scam affiliate marketers really pushing this software which does make me worry a bit. I hope my review helped you get a better understanding about the software and that you come back to Forex robot nation soon to learn more about what we have to offer.
Please leave your comments below and let me know what you think. GPS Forex Robot is a long-term trading expert advisor with a large base of affiliates promoting it. Hi Mohsen, to see this you will want to look at the Myfxbook and then scroll down to the monthly statistics. I hope they speak up and let us know what is going on!! Reverse trrade is horrible.
Blew up my account when eurusd opened a sell reverse trade and it goes against the trade. It does not work properly and you will lose all of your money. I tried it out and had them log in and set it properly so that I knew it was setup correctly. DO NOT waste your money!!! I have not had any issues like this myself with the robot. I recommend checking for errors in your journals or experts tabs, doing a deeper dive. How often does yours make trades and which time frames?
It has never opened the 3 other pairs. You need a large account to make a decent profit. Thanks for updating your review. It uses martingale 7 times initial lot size to do a stop and reverse trade after closing losing trade.
The fake performance results are achieved by them skipping the trades where it will lead to these blown situations. Yes, you certainly can. Your email address will not be published. Based on my own positive experiences, I think that anyone looking for an automated way of profiting from the forex markets should seriously consider it. My trading results so far have been excellent and consistent. If you have any questions, please post a comment below.
Thanks for visiting. If you enjoyed this review you might also like our Yieldnodes review. Please settings for this Robot as well as other bonuses? I really like your work and your effort to make things clear and understandble for everyone.
However I am used to trade in Forex with the help of a consultant who sends me signals, but I am considering to invest some money also in this BOT, so I was wondering why did you stop using it? Do you think it is still profitable as it was before? Is it worth to buy it and let it run?
Furthermore, here in Italy we are allowed to trade with maximum leverage. Hi Tradewise, thanks for your work and what you have done for your community! I use this Bot since 1 year. The Profit was unbeliveable high and it worked perfect. On october 19th i got an margin call because the Reversal Trade was points in minus. Thats a huge Drawdown, when you multiple your initial trade volumen with x7. I think many others does also got in this situation. This is not the case. So maybe the review and stars are not so correct for this bot.
If you need information about my settings standard settings from the developers myfxbook or when the trade happend, feel free to contact me. Hi Jon, I just wonder before I going to get it. Thank you. Hi Jon, Thank you for giving such a thorough and insightful review.
I purchased using your link. You have responded promptly to my emails and were helpful. I finally got the robot setup properly, and this past week it executed its first trade. I use a platform that only offers leverage. With this lower level of leverage being used is there much danger of blowing my account by adding the three other currency pairs, or should I just stick with eurusd?
Is it ok or should I go with a broker that has leverage like FX Choice. I have emailed you. Still waiting for your settings for this Robot as well as other bonuses? Save my name, email, and website in this browser for the next time I comment. Sign up to our newsletter!
Youtube Twitter Facebook Tumblr. What Is the Minimum Investment Amount? Why Not? Is This a Scalping Bot? Support From inside the members area, you also have access to their customer support. ForexPeacearmy reviews There are some interesting reviews on forexpeacearmy for this product. Conclusions A lot of people buy bots such as the GPS Forex Robot 3 and test it for a short time before writing a negative review and looking for the next shiny object, buying that, and repeating the whole process over and over again.
Hello Jon, Does this work with MT5? In your opnion, is this robot still reliable? Thank you Reply. Hi Jon. Is it possible to see the last 6 months results with your settings? Cheers, James.
GPS Forex Robot claims to be accurate in 98% of cases. In the other 2. I can say that GPS is the most stable robot that I have ever bought, it really makes a profit trade after trade. Its disadvantage is the. Whilst it's true that many bots out there simply don't work in the long term, there's sufficient evidence to suggest the GPS Forex robot works.