GPS Robot FxChoice 100k (by ForexMark) Quick Stats
Gain: +524.25%
Drawdown: 31.06%
Pips: 413.5
Trades: 468
Won:
Lost:
Type: Real
Leverage: 1:200
Trading: Automated

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GPS Robot FxChoice 100k Discussion
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delanth

Member Since Dec 08, 2011  40 posts delanth Feb 04 at 00:02
cubowull posted:
I decided to make a purchase of this robot, because opinions on this subject have different views. Therefore, I decided to personally try to use this product in my accounts. At first, the GPS robot was launched on a demo account, and for a while everything was fine, the trade brought decent results. But as soon as I started using my FXChoice live account for trading, within 1 month, the account was completely destroyed. At the same time, I constantly tried to contact support and Mark, asking how to use the robot, but the answers were: '... we are a big company ...', '... we have many users ... ',' ... you used the wrong settings ... '. Later they invited me to start from the very beginning and said that they would gradually explain how to do it. But, unfortunately, after a while the same situation repeated as with the first account, I had to forcibly stop trading when the balance reached -30% with an open recovery transaction. After all this, they generally said that they did not want to deal with me and returned the money for the robot... It’s noticed that some users here say that there are good results but no one showed such an account.


I saw you smaller account.
Mistake: For this EA you are trading with too high lot size (.07) for the size of your account. Your recovery trade is set to 8 time the original and from just 39.5 points price movement against you, your account is 30% DD. Not sure if you have your stop out set at 30% risk or if you close the trade manually. But no account should be in danger from just about 40 points price move. This is not ever at the usual ATR of the pair. I am sure every place you read it said not to risk more than 2% of your account of one trade. Did you do you analysis are realized that if your first trade was .02 you would still have have your account? But in reality, with the balance of your account you should not be trading with more than .01 lots size.

10.28.2019 04:16 10.30.2019 12:57 USDCHF Buy 0.56 - - 0.99581 0.99186 -39.5 -216.57 2d -28.46% tag
10.29.2019 00:00 10.29.2019 16:26 EURUSD Buy 0.07 - - 1.11010 1.11031 2.1 1.47 16h 26m 0.19%

cubowull

Member Since Jul 28, 2019  4 posts cubowull Feb 04 at 08:43 (edited Feb 04 at 08:49 )
delanth posted:
You did not provide enough information.
Did you follow the guidelines?
Do you understand how the EA trade?
What Lot size are you using?

I saw you smaller account.
Mistake: For this EA you are trading with too high lot size (.07) for the size of your account. Your recovery trade is set to 8 time the original and from just 39.5 points price movement against you, your account is 30% DD. Not sure if you have your stop out set at 30% risk or if you close the trade manually. But no account should be in danger from just about 40 points price move. This is not ever at the usual ATR of the pair. I am sure every place you read it said not to risk more than 2% of your account of one trade. Did you do you analysis are realized that if your first trade was .02 you would still have have your account? But in reality, with the balance of your account you should not be trading with more than .01 lots size.

10.28.2019 04:16 10.30.2019 12:57 USDCHF Buy 0.56 - - 0.99581 0.99186 -39.5 -216.57 2d -28.46% tag
10.29.2019 00:00 10.29.2019 16:26 EURUSD Buy 0.07 - - 1.11010 1.11031 2.1 1.47 16h 26m 0.19%


History of trade contains all complete information. Yes, I tried to follow instructions. I registered with recommended broker, used VPS, the lot was also installed according to recommendations for every $ 100 balance of 0.01 lot. This is indicated in user manual.

After more than a year of use EA, I still do not understand how this adviser trades, I can see that 1 trade is opening at beginning of trading session and after that several options are possible - order closes with a profit or if price moves in opposite direction, then position is compensated an increased order in direction of trend. But in fact, we can observe that this trick does not work.

Yes, second time I closed deal forcibly by pressing button to close position in terminal with my hands. I will attach a screenshot to this message and you can see that such a position needed to be closed, since the price was ready to move much more than 40.0 points and did it.

Recovery transaction multiplier was installed 7 times and not 8, be careful here, this parameter was received by support service. As for risk per trade, provided that money management is 100 $ / 0.01 lot, loss will be 10% and not 2%, since stop loss is at a distance of about 100.0 points.

Now can not do analyzes, my account is deactivated, today it is clear to me that this company had a rather expensive and useless purchase.
Attachments:

almfx

Member Since Feb 13, 2017  125 posts almfx Feb 05 at 14:48
463 trades, 400 pips only EURUSD.
average winning pips is so small, most of them 2.5pips
Slippage will never allow this EA make money. Only demo accounts do not have slippage. Without slippage with hyper scalpers you can earn multi digit returns . But there is not any broker without negative slippage. And this is the most important thing i thing results on this EA is not real. And you will never make any profit with this EA.

baldmonk

Member Since Jun 02, 2016  1 posts baldmonk Feb 07 at 19:43 (edited Feb 07 at 19:43 )
just as a public service announcement:

DO NOT BUY THIS ROBOT!

1. take a look their trade history. each win is about 2 pips. your spread alone will be more than that
2. read the comments here. you can see how difficult to get a refund from them. so the 60-day refund guarantee is meaningless

safe trading!

chiara94

Member Since Feb 19, 2020  4 posts chiara94 Feb 19 at 09:50
@baldmonk not working ? good history

bmw
Androgelv

Member Since Nov 08, 2019  8 posts Androgelv Feb 22 at 17:47
Avoid working with robotic systems, they lack flexibility and in general you should be responsible for your own money.

Nazim_khwaja

Member Since Mar 23, 2017  1 posts Nazim (Nazim_khwaja) Mar 29 at 14:04
thanks guys, these reviews saved me!! Much appreciated

khwaja.nazim220@
LarryWilliam

Member Since Dec 31, 2019  1 posts LarryWilliam Mar 29 at 22:31
GPS has recovery trades which multiply your chosen lot size by 5.9 times. These recovery trades are just basically a martingale stratey and they can lose. My demo account had 46% drawdown with this EA. The SL on the recovery trades are a whooping 1000 pips smiley

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice. Past performance is not indicative of future results.