Forex Monster – Turning $10,000 Into $59,000 In Just 7 Trades

Rating : 70 pts / 100 pts
(Class B Forex Robots)

(New Forex Robot launching on 7 Jul ’09)

About

After 1 year+ of researching and waiting, they have finally released their latest forex robot , Forex Monster.

The creators are from the same team that brought you Forex Assassin which was quite a HIT last year.

I like the creators’ attitude.  Seeing their success from their first robot, they did not hurry to push out other robot series. They actually took their time to come out with this latest forex robot.

I haven’t traded it personally but my trader friend has already bought it and tested it right away. So far, he is very happy with the results and has shared some of his thoughts with me.

Characteristics

Forex Monster only trades 1 currency, EURGBP and  1 HOUR timeframe. Talk about Simplicity.

The salespage claims that the robot only trades using price action.

Well, I am not sure about that since the codes are encrypted and I couldn’t find a way in

Based on the backtest results, this robot uses a 1:3 risk-reward ratio on most trades. This means you are putting $1 on the table to risk for $3.

Not bad considering this is an automated trading robot.

I think the crazy days where robots risk $100 for $1 are GONE!

The previous batch of robots like Forex Autopilot are mad when come to money management.

So far the latest stream of forex robots are following the Fap Turbo and Forex Megadroid way. That is small stoploss and small profits.

The SAFETY FIRST mentality seems to work great in all kinds of market conditions. But…don’t expect you to get rich fast compared to conventional trading style.

Let the trend run is still the fastest way to great wealth. Just that Forex Robots are not capable of doing that. (at least till now)

So seeing Forex Monster taking the same approach, it might just be another successful robot on the making.

Results

The results are based on backtest as it was only available 2 days ago.

Our backtest results verify that the claims on the salespage are similar. $800 in 2 days and $1,700 in 24 hours, $1,543 in 24 hours.

It is good at catching the trend but it does exit quickly as well.

So most of the profits come in quick succession.

Benefits

1. A trading system that is based on PRICE action and does not rely on lagging indicators.

2. Reacts to price change much faster and can take advantage of PRICE-SPIKES commonly found during breakout. That explains for the good profits like $1,543 in 24 hours.

3. You are getting a well-built forex robot system that has undergone 1 year of research.

What’s Included

1. An automated trading system that has produced results like turning $10,000 into $59,000 from less than 10 trades.

2. Lifetime software updates

3. Full Documentation

==> Visit Forex Monster