Alan's Forex Blog

Forex AutoCash Robot – Concluding Review

Posted: 21 May 2010 07:19 AM PDT

Hi everyone. I’ve been demo testing the Forex AutoCash forex robot for almost 2 years now, and I think it’s about time to write a concluding review. I will make this review as briefly as possible since I don’t want to waste my time as well as your time with this junk forex robot. As you can tell I’m not too happy with the way Forex AutoCash has performed. Have a look at all the trades it initiated over a 2 year period:

16380393 2008.09.30 22:07 balance Deposit 50 000.00
16434875 2008.10.01 14:56 buy 0.72 eurusd 1.4091 1.3441 0.0000 2008.10.06 22:17 1.3441 0.00 0.00 11.16 -4 680.00
16648259 2008.10.06 22:45 buy 0.69 eurusd 1.3506 1.2856 0.0000 2008.10.06 22:47 1.3518 0.00 0.00 0.00 82.80
16788662 2008.10.08 16:49 buy 0.69 eurusd 1.3681 1.3029 0.0000 2008.10.08 16:52 1.3691 0.00 0.00 0.00 69.00
16860214 2008.10.09 17:01 buy 0.69 eurusd 1.3662 1.3010 0.0000 2008.10.09 17:08 1.3667 0.00 0.00 0.00 34.50
16961675 2008.10.10 15:53 buy 0.69 eurusd 1.3528 1.2876 0.0000 2008.10.10 16:22 1.3536 0.00 0.00 0.00 55.20
16961956 2008.10.10 15:56 buy 0.69 eurusd 1.3531 1.2881 0.0000 2008.10.10 16:22 1.3536 0.00 0.00 0.00 34.50
17949463 2008.10.27 16:36 buy 0.69 eurusd 1.2411 1.1761 0.0000 2008.10.27 16:39 1.2416 0.00 0.00 0.00 34.50
18106458 2008.10.28 17:37 buy 0.69 eurusd 1.2513 1.1863 0.0000 2008.10.28 21:17 1.2518 0.00 0.00 0.00 34.50
18221476 2008.10.29 14:33 buy 0.69 eurusd 1.2779 1.2129 0.0000 2008.10.29 14:34 1.2790 0.00 0.00 0.00 75.90
18365239 2008.10.30 14:24 buy 0.70 eurusd 1.3097 1.2447 0.0000 2008.10.30 14:26 1.3103 0.00 0.00 0.00 42.00
18509699 2008.10.31 14:50 buy 0.70 eurusd 1.2736 1.2086 0.0000 2008.10.31 15:26 1.2742 0.00 0.00 0.00 42.00
18598532 2008.11.03 15:42 buy 0.70 eurusd 1.2790 1.2140 0.0000 2008.11.04 13:48 1.2795 0.00 0.00 2.17 35.00
18788884 2008.11.05 14:46 buy 0.70 eurusd 1.2915 1.2262 0.0000 2008.11.05 14:51 1.2920 0.00 0.00 0.00 35.00
18890481 2008.11.06 14:03 buy 0.70 eurusd 1.2824 1.2172 0.0000 2008.11.06 14:05 1.2832 0.00 0.00 0.00 56.00
18998473 2008.11.07 17:06 buy 0.70 eurusd 1.2767 1.2117 0.0000 2008.11.07 17:09 1.2775 0.00 0.00 0.00 56.00
19066076 2008.11.10 16:36 buy 0.70 eurusd 1.2860 1.2210 0.0000 2008.11.24 17:29 1.2867 0.00 0.00 30.38 49.00
20015579 2008.11.25 14:46 buy 0.70 eurusd 1.2821 1.2167 0.0000 2008.11.25 14:53 1.2826 0.00 0.00 0.00 35.00
20114636 2008.11.26 17:40 buy 0.70 eurusd 1.2914 1.2264 0.0000 2008.11.27 03:42 1.2918 0.00 0.00 6.51 28.00
20216100 2008.11.27 17:57 buy 0.70 eurusd 1.2869 1.2219 0.0000 2008.11.27 17:59 1.2875 0.00 0.00 0.00 42.00
20268279 2008.11.28 14:34 buy 0.70 eurusd 1.2728 1.2078 0.0000 2008.11.28 14:37 1.2733 0.00 0.00 0.00 35.00
20815345 2008.12.09 15:26 buy 1.73 eurusd 1.2813 1.2163 0.0000 2008.12.09 15:28 1.2815 0.00 0.00 0.00 34.60
21848935 2009.01.13 15:16 buy 1.73 eurusd 1.3255 1.2605 0.0000 2009.01.13 15:26 1.3258 0.00 0.00 0.00 51.90
21897837 2009.01.14 14:55 buy 1.73 eurusd 1.3195 1.2545 0.0000 2009.01.14 14:56 1.3197 0.00 0.00 0.00 34.60
21955625 2009.01.15 15:43 buy 1.73 eurusd 1.3137 1.2485 0.0000 2009.01.15 15:45 1.3150 0.00 0.00 0.00 224.90
22014107 2009.01.16 18:30 buy 1.74 eurusd 1.3276 1.2626 0.0000 2009.01.16 21:39 1.3278 0.00 0.00 0.00 34.80
23343186 2009.02.12 16:14 buy 1.74 eurusd 1.2809 1.2159 0.0000 2009.02.12 18:16 1.2813 0.00 0.00 0.00 69.60
23414064 2009.02.13 15:06 buy 1.75 eurusd 1.2831 1.2181 0.0000 2009.02.13 15:23 1.2833 0.00 0.00 0.00 35.00
23864690 2009.02.23 15:39 buy 1.75 eurusd 1.2783 1.2133 0.0000 2009.02.23 15:41 1.2785 0.00 0.00 0.00 35.00
23937306 2009.02.24 15:06 buy 1.75 eurusd 1.2758 1.2108 0.0000 2009.02.24 15:10 1.2760 0.00 0.00 0.00 35.00
24013715 2009.02.25 13:48 buy 1.75 eurusd 1.2790 1.2140 0.0000 2009.02.25 14:57 1.2792 0.00 0.00 0.00 35.00
24083736 2009.02.26 16:49 buy 1.75 eurusd 1.2744 1.2094 0.0000 2009.02.26 16:51 1.2746 0.00 0.00 0.00 35.00
24139438 2009.02.27 15:21 buy 1.75 eurusd 1.2621 1.1971 0.0000 2009.02.27 15:25 1.2623 0.00 0.00 0.00 35.00
24921402 2009.03.13 17:24 buy 1.75 eurusd 1.2873 1.2223 0.0000 2009.03.13 17:25 1.2879 0.00 0.00 0.00 105.00
26267939 2009.04.15 14:38 buy 1.76 eurusd 1.3207 1.2557 0.0000 2009.04.15 14:39 1.3215 0.00 0.00 0.00 140.80
27016870 2009.04.30 15:47 buy 1.76 eurusd 1.3229 1.2579 0.0000 2009.04.30 15:49 1.3231 0.00 0.00 0.00 35.20
27072747 2009.05.01 15:47 buy 1.76 eurusd 1.3250 1.2600 0.0000 2009.05.01 15:49 1.3252 0.00 0.00 0.00 35.20
27175507 2009.05.05 17:14 buy 1.76 eurusd 1.3372 1.2722 0.0000 2009.05.05 18:49 1.3374 0.00 0.00 0.00 35.20
27232703 2009.05.06 18:38 buy 1.77 eurusd 1.3309 1.2659 0.0000 2009.05.06 18:53 1.3311 0.00 0.00 0.00 35.40
27287628 2009.05.07 15:38 buy 1.77 eurusd 1.3318 1.2668 0.0000 2009.05.07 15:40 1.3320 0.00 0.00 0.00 35.40
28993344 2009.06.10 15:38 buy 1.77 eurusd 1.4074 1.3424 0.0000 2009.06.10 15:39 1.4076 0.00 0.00 0.00 35.40
29128574 2009.06.12 15:26 buy 1.77 eurusd 1.3973 1.3323 0.0000 2009.06.12 15:55 1.3975 0.00 0.00 0.00 35.40
29642974 2009.06.24 14:29 buy 1.77 eurusd 1.4036 1.3386 0.0000 2009.06.24 14:35 1.4038 0.00 0.00 0.00 35.40
29765090 2009.06.25 17:48 buy 1.77 eurusd 1.3906 1.3256 0.0000 2009.06.25 18:03 1.3908 0.00 0.00 0.00 35.40
29824990 2009.06.26 18:50 buy 1.77 eurusd 1.4043 1.3393 0.0000 2009.06.26 18:52 1.4045 0.00 0.00 0.00 35.40
29933293 2009.06.30 16:06 buy 1.77 eurusd 1.4084 1.3434 0.0000 2009.06.30 16:08 1.4086 0.00 0.00 0.00 35.40
30059926 2009.07.02 15:48 buy 1.77 eurusd 1.4017 1.3367 0.0000 2009.07.02 15:50 1.4030 0.00 0.00 0.00 230.10
30196815 2009.07.07 16:29 buy 1.78 eurusd 1.3986 1.3336 0.0000 2009.07.07 16:33 1.3988 0.00 0.00 0.00 35.60
30249896 2009.07.08 18:20 buy 1.78 eurusd 1.3867 1.3217 0.0000 2009.07.08 18:24 1.3869 0.00 0.00 0.00 35.60
30471915 2009.07.13 17:03 buy 1.79 eurusd 1.3923 1.3273 0.0000 2009.07.13 17:15 1.3925 0.00 0.00 0.00 35.80
30539748 2009.07.14 17:45 buy 1.79 eurusd 1.3945 1.3295 0.0000 2009.07.14 17:47 1.3947 0.00 0.00 0.00 35.80
30658507 2009.07.16 17:06 buy 1.79 eurusd 1.4100 1.3450 0.0000 2009.07.16 17:08 1.4102 0.00 0.00 0.00 35.80
30876572 2009.07.21 23:15 buy 1.79 eurusd 1.4211 1.3561 0.0000 2009.07.21 23:18 1.4213 0.00 0.00 0.00 35.80
31084175 2009.07.24 18:06 buy 1.79 eurusd 1.4189 1.3539 0.0000 2009.07.24 18:12 1.4191 0.00 0.00 0.00 35.80
31582926 2009.08.05 17:00 buy 1.79 eurusd 1.4373 1.3723 0.0000 2009.08.05 17:05 1.4375 0.00 0.00 0.00 35.80
31637624 2009.08.06 20:01 buy 1.79 eurusd 1.4339 1.3689 0.0000 2009.08.06 20:04 1.4341 0.00 0.00 0.00 35.80
31669893 2009.08.07 15:38 buy 1.79 eurusd 1.4348 1.3698 0.0000 2009.08.07 16:08 1.4350 0.00 0.00 0.00 35.80
32640537 2009.08.21 17:28 buy 1.80 eurusd 1.4308 1.3658 0.0000 2009.08.21 17:30 1.4310 0.00 0.00 0.00 36.00
33511065 2009.09.10 16:36 buy 1.80 eurusd 1.4542 1.3892 0.0000 2009.09.10 17:40 1.4544 0.00 0.00 0.00 36.00
33562726 2009.09.11 17:04 buy 1.80 eurusd 1.4565 1.3915 0.0000 2009.09.11 17:06 1.4570 0.00 0.00 0.00 90.00
33661702 2009.09.15 15:52 buy 1.80 eurusd 1.4563 1.3913 0.0000 2009.09.15 15:54 1.4565 0.00 0.00 0.00 36.00
33969976 2009.09.24 17:02 buy 1.80 eurusd 1.4737 1.4087 0.0000 2009.10.06 09:02 1.4739 0.00 0.00 -1.80 36.00
34465764 2009.10.08 16:30 buy 1.80 eurusd 1.4733 1.4083 0.0000 2009.10.08 16:32 1.4737 0.00 0.00 0.00 72.00
34540234 2009.10.09 19:03 buy 1.81 eurusd 1.4710 1.4060 0.0000 2009.10.09 22:02 1.4712 0.00 0.00 0.00 36.20
36507229 2009.12.14 13:36 buy 1.81 eurusd 1.4621 1.3971 0.0000 2009.12.14 13:42 1.4623 0.00 0.00 0.00 36.20
36537785 2009.12.15 10:15 buy 1.81 eurusd 1.4585 1.3932 0.0000 2009.12.16 17:05 1.4587 0.00 0.00 -0.18 36.20
36626272 2009.12.17 11:46 buy 1.81 eurusd 1.4360 1.3706 0.0000 2009.12.17 11:48 1.4363 0.00 0.00 0.00 54.30
36676588 2009.12.18 14:35 buy 1.81 eurusd 1.4342 1.3692 0.0000 2009.12.18 14:38 1.4344 0.00 0.00 0.00 36.20
37315205 2010.01.13 19:27 buy 1.81 eurusd 1.4514 1.3864 0.0000 2010.01.13 19:52 1.4516 0.00 0.00 0.00 36.20
37349187 2010.01.14 18:11 buy 1.81 eurusd 1.4456 1.3806 0.0000 2010.01.14 18:13 1.4458 0.00 0.00 0.00 36.20
37454486 2010.01.19 18:36 buy 1.82 eurusd 1.4254 1.3604 0.0000 2010.01.19 18:39 1.4256 0.00 0.00 0.00 36.40
37491775 2010.01.20 17:06 buy 1.82 eurusd 1.4115 1.3465 0.0000 2010.01.20 17:08 1.4118 0.00 0.00 0.00 54.60
37532905 2010.01.21 18:18 buy 1.82 eurusd 1.4046 1.3396 0.0000 2010.01.21 18:20 1.4049 0.00 0.00 0.00 54.60
37745150 2010.01.27 21:17 buy 1.82 eurusd 1.4024 1.3374 0.0000 2010.01.27 21:18 1.4029 0.00 0.00 0.00 91.00
37776050 2010.01.28 16:59 buy 1.83 eurusd 1.3964 1.3314 0.0000 2010.01.28 17:00 1.3970 0.00 0.00 0.00 109.80
37812718 2010.01.29 16:56 buy 1.83 eurusd 1.3914 1.3264 0.0000 2010.01.29 17:02 1.3916 0.00 0.00 0.00 36.60
37984060 2010.02.03 15:52 buy 1.83 eurusd 1.3949 1.3299 0.0000 2010.02.03 16:21 1.3952 0.00 0.00 0.00 54.90
38103380 2010.02.04 17:11 buy 1.83 eurusd 1.3794 1.3144 0.0000 2010.02.09 18:54 1.3797 0.00 0.00 -0.54 54.90
38354632 2010.02.10 14:57 buy 1.84 eurusd 1.3748 1.3098 0.0000 2010.02.10 15:01 1.3752 0.00 0.00 0.00 73.60
38414207 2010.02.11 15:45 buy 1.84 eurusd 1.3687 1.3037 0.0000 2010.02.11 15:47 1.3692 0.00 0.00 0.00 92.00
38604789 2010.02.17 17:37 buy 1.84 eurusd 1.3673 1.3023 0.0000 2010.02.23 09:40 1.3676 0.00 0.00 -1.09 55.20
38790908 2010.02.23 16:38 buy 1.85 eurusd 1.3543 1.2893 0.0000 2010.02.23 16:40 1.3547 0.00 0.00 0.00 74.00
40954011 2010.04.22 16:50 buy 1.85 eurusd 1.3290 1.2640 0.0000 2010.04.22 16:53 1.3293 0.00 0.00 0.00 55.50
41104639 2010.04.27 18:28 buy 1.85 eurusd 1.3280 1.2630 0.0000 2010.04.27 18:38 1.3283 0.00 0.00 0.00 55.50
41154548 2010.04.28 17:51 buy 1.85 eurusd 1.3203 1.2553 0.0000 2010.04.28 17:55 1.3206 0.00 0.00 0.00 55.50
41230598 2010.04.30 18:03 buy 1.86 eurusd 1.3280 1.2630 0.0000 2010.04.30 18:15 1.3280 0.00 0.00 0.00 0.00
41260507 2010.05.03 17:38 buy 1.86 eurusd 1.3182 1.2532 0.0000 2010.05.03 17:39 1.3187 0.00 0.00 0.00 93.00
41295815 2010.05.04 15:57 buy 1.86 eurusd 1.3072 1.2422 0.0000 2010.05.04 16:05 1.3075 0.00 0.00 0.00 55.80
41340430 2010.05.05 15:56 buy 1.86 eurusd 1.2881 1.2231 0.0000 2010.05.05 18:44 1.2884 0.00 0.00 0.00 55.80
41387804 2010.05.06 14:46 buy 1.87 eurusd 1.2723 1.2073 0.0000 2010.05.06 14:49 1.2731 0.00 0.00 0.00 149.60
41475962 2010.05.07 14:58 buy 1.87 eurusd 1.2732 1.2082 0.0000 2010.05.07 15:03 1.2735 0.00 0.00 0.00 56.10
41549355 2010.05.10 15:19 buy 1.87 eurusd 1.2949 1.2299 0.0000 2010.05.17 05:18 1.2299 0.00 0.00 -1.32 -12 155.00

Closed P/L: -12 089.21

So for 2 years all this thing has managed to do is get in a $12K drawdown. I think the main problem with this EA is the stupidly large stop loss (600 pips). It does make winning trades a large percentage of the time but one single loss is all that is needed to wipe all that away. Setting the stop loss lower only hampers performance. Why, you ask. Well, the way this EA trade is it ONLY BUYS into a large volume SELL or BEARISH candle. It basically works as a retracement system as far as I can tell. Now as you’re probably thinking that buying into a large downtrend is stupid, and you’re right, it is! Counting on the odds of the candle to retrace briefly above your entry point is like playing with the odds. Eventually all it takes is a sustained and violent downtrend to wipe you out, and that’s exactly what happens with this EA.

Here is some advice for you:

1) Stay away from Forex AutoCash if they ever offer it for sale again.
2) Stay away from any forex product “John Burroughs” (if that is his real name) tries to sell you.

If you have some opinions of comment you’d like to share about this and other metatrader 4 automated trading systems be they commercial or freely available I recommend you join me at the Forex Nirvana forum where I “hang out”:

http://www.forexnirvana.com

Cheers, and I wish you all profitable trading!

Alan

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