January 26, 2013

FOREX STRIKER PRO – Final Review

I have been testing thid software offering to the Forex market that is Forex Striker Pro. Being Forex this requires a reasonable sum of money in the trading fund to make ‘half-reasonable’ profits.

What can I add to my initial review of the system.?…not a great deal really… once the software is setup on your VPS (‘virtual private server’- the best option), which is relatively easy to do, you sit back and wait for the bot software to do its thing and pick trades it sees as potentially lucrative trading opportunities and that is all. It really is that easy!

The software/bot is essentially a script file that has been coded to work using the MT4 trading platform. The MT4 platform is free to use, so what you are actually paying for is the use of the code  (what is termed an ‘Expert Advisor’ in MT4 jargon).

For the purposes of this review I opened a FREE demo account  with FX Choice  and set the start balance to £5,000. The total currently stands at £5,620.28

So, for 13 weeks of ‘hands-free’ trading…. not a bad result returning just shy of a 12.5% profit on the starting bank in a little over three months. This I feel a very reasonable return for no effort(!)
Here is the full list of trades for those interested (these may be a little different from my initial posting as I had the lot size set incorrectly to that advised, which I later corrected).

 

Open Type Price Stop Loss Take Profit Close Price
2012.10.25 05:00 buy 0.39 eurusd 1.29755 1.29769 1.29905 2012.10.25 06:24 1.29769 10.92
2012.10.25 11:39 buy 0.39 eurusd 1.30208 1.29785 1.3093 2012.10.25 15:34 1.29785 -329.94
2012.10.30 05:00 buy 0.38 eurusd 1.29143 1.28778 1.29294 2012.10.30 08:27 1.29178 26.6
2012.10.31 05:00 buy 0.38 eurusd 1.29648 1.29291 1.29805 2012.10.31 09:51 1.29649 0.76
2012.11.01 05:00 buy 0.38 eurusd 1.29672 1.29307 1.29822 2012.11.01 09:33 1.29307 -277.4
2012.11.06 05:00 buy 0.37 eurusd 1.27871 1.27873 1.28021 2012.11.06 06:00 1.27969 72.52
2012.11.07 05:00 buy 0.38 eurusd 1.28119 1.28164 1.28266 2012.11.07 05:27 1.28266 111.72
2012.11.08 05:00 buy 0.38 eurusd 1.27574 1.27221 1.27737 2012.11.08 08:16 1.27617 32.68
2012.11.13 05:00 buy 0.39 eurusd 1.2684 1.26476 1.26991 2012.11.13 08:37 1.26869 22.62
2012.11.14 05:00 buy 0.38 eurusd 1.27249 1.26885 1.27398 2012.11.14 09:48 1.27279 22.8
2012.11.14 11:45 buy 0.39 eurusd 1.27468 1.27055 1.2799 2012.11.14 15:31 1.27509 31.98
2012.11.15 05:00 buy 0.39 eurusd 1.2741 1.27043 1.2756 2012.11.15 07:52 1.27462 40.56
2012.11.20 05:00 buy 0.39 eurusd 1.27882 1.27938 1.28043 2012.11.20 05:12 1.28043 125.58
2012.11.22 05:00 buy 0.39 eurusd 1.28494 1.2813 1.28646 2012.11.22 09:01 1.28515 16.38
2012.11.27 05:00 buy 0.39 eurusd 1.29831 1.29465 1.2998 2012.11.27 08:05 1.29893 48.36
2012.11.27 11:46 sell 0.39 eurusd 1.29572 1.29562 1.29023 2012.11.27 12:46 1.29465 83.46
2012.11.28 05:00 buy 0.39 eurusd 1.29355 1.28992 1.29505 2012.11.28 13:15 1.28992 -283.14
2012.11.29 05:00 buy 0.38 eurusd 1.29535 1.29169 1.29679 2012.11.29 09:57 1.29559 18.24
2012.11.29 11:45 buy 0.38 eurusd 1.2988 1.29465 1.30526 2012.11.29 14:39 1.29929 37.24
2012.12.04 05:00 buy 0.38 eurusd 1.30493 1.30528 1.3064 2012.12.04 06:00 1.30595 77.52
2012.12.05 05:00 buy 0.38 eurusd 1.31059 1.30694 1.31208 2012.12.05 06:18 1.31156 73.72
2012.12.05 11:53 sell 0.39 eurusd 1.30955 1.3095 1.30576 2012.12.05 12:53 1.30861 73.32
2012.12.06 05:00 buy 0.39 eurusd 1.30585 1.30221 1.30735 2012.12.06 10:34 1.3062 27.3
2012.12.06 11:42 buy 0.39 eurusd 1.30781 1.30355 1.31229 2012.12.06 15:02 1.30834 41.34
2012.12.11 05:00 buy 0.4 eurusd 1.29387 1.2902 1.29537 2012.12.11 06:29 1.29473 68.8
2012.12.12 05:00 buy 0.4 eurusd 1.30115 1.29749 1.3022 2012.12.12 11:20 1.3015 28
2012.12.13 05:00 buy 0.4 eurusd 1.30648 1.30676 1.30777 2012.12.13 05:34 1.30777 103.2
2012.12.18 05:00 buy 0.4 eurusd 1.31711 1.31346 1.31862 2012.12.18 08:14 1.31755 35.2
2012.12.18 11:41 buy 0.4 eurusd 1.31781 1.31357 1.3205 2012.12.18 14:02 1.3185 55.2
2012.12.19 05:00 buy 0.4 eurusd 1.32506 1.3214 1.32656 2012.12.19 11:24 1.32523 13.6
2012.12.20 05:00 buy 0.4 eurusd 1.32239 1.31872 1.32389 2012.12.20 09:30 1.32259 16
2012.12.27 05:00 buy 0.4 eurusd 1.32372 1.32006 1.32521 2012.12.27 08:38 1.32404 25.6
2012.12.27 11:48 buy 0.4 eurusd 1.3273 1.32307 1.33369 2012.12.27 14:29 1.32788 46.4
2013.01.02 05:00 buy 0.4 eurusd 1.32947 1.32578 1.33097 2013.01.02 06:08 1.32578 -295.2
2013.01.03 05:00 buy 0.39 eurusd 1.31272 1.31302 1.31431 2013.01.03 06:00 1.31378 82.68
2013.01.08 05:00 buy 0.4 eurusd 1.31296 1.30929 1.31444 2013.01.08 11:32 1.31315 15.2
2013.01.09 05:00 buy 0.4 eurusd 1.30747 1.30378 1.30897 2013.01.09 07:25 1.30803 44.8
2013.01.10 05:00 buy 0.8 eurusd 1.30492 1.30127 1.30642 2013.01.10 08:34 1.30526 27.2
2013.01.10 11:40 buy 0.8 eurusd 1.3074 1.3093 1.31203 2013.01.10 12:12 1.3093 152
2013.01.15 05:00 buy 0.8 eurusd 1.33786 1.33429 1.33944 2013.01.15 08:55 1.33429 -285.6
2013.01.16 05:00 buy 0.77 eurusd 1.3285 1.32483 1.32999 2013.01.16 06:24 1.32955 80.85
2013.01.17 05:00 buy 0.78 eurusd 1.33013 1.32648 1.33165 2013.01.17 09:06 1.3304 21.06
2013.01.17 11:45 buy 0.78 eurusd 1.33534 1.3354 1.34332 2013.01.17 12:46 1.33638 81.12
2013.01.22 05:00 buy 0.79 eurusd 1.33098 1.33145 1.33249 2013.01.22 05:59 1.33249 119.29
2013.01.23 05:00 buy 0.81 eurusd 1.33182 1.32814 1.33332 2013.01.23 11:21 1.33215 26.73
2013.01.23 11:42 buy 0.81 eurusd 1.33281 1.3331 1.33809 2013.01.23 12:34 1.3331 23.49
2013.01.24 05:00 buy 0.82 eurusd 1.33176 1.32817 1.33335 2013.01.24 08:36 1.33212 29.52

 Totals : 47 Trades with 5 losing trades

The only reservation I have (and this applies to Forex in general), if you are to trade with safety of your trading fund in mind, you will need to have a reasonable sum of money in the trading account if you are to see reasonable returns, as my results will testify. I have used the  advised settings, where the trade size is determined for you but this can be configured differently if you so wish.

Whilst it is simplicity itself to leave it to do its thing, the bot runs well enough and is clever enough to reposition its stops (much like a trailing stop I guess), so that if the market does retrace at least some profits are still assured. Be warned though, as you can see from my results the FOREX STRIKER PRO stops are positioned quite a distance apart and if the market does move against you and you are stopped out, you will see a reasonable loss – relative to what you may have gained.
One other thing to bear in mind ( this has been confirmed in email response to me from the system authors) – two traders using this software will not necessarily get exactly the same set of results.  This is borne out by the fact that another review site also trialing this software system got differing results to me – theirs showed a profit of over £1,000 for very the same timeframe and the same intial trading fund of £5,000.
I have studied their results and found that although they were forutnate enough to be able to miss  a couple of the losing trades that I took, conversely they also missed out on some of the profitable trades that I took, so assuming no ‘massaging’ of the figures on their part, it would appear that there is a degree of luck to which trades you will get placed and those that you wont.

However, purely based on what I have seen during the 13 weeks or so this system has been running on my VPS,  you are likely to get a far better return on your cash than any high street institution can offer you and for the relatively minor sum of £120,  a one off  payment for lifetime subscription (including a 60 day money back guarantee) – for a SET-AND-FORGET system to make money over the longer term, this has got to be worth the outlay.

For these reasons, I feel that Forex Striker Pro warrants an APPROVED rating.

NOTE : Be aware that there are two versions of Forex Striker on the market  (the other offering is not performing as well as this at the present time) : the one pertaining to this review is Forex Striker Pro. To ensure you get the correct version, be sure to use the link below and then UPGRADE to the pro version after purchase.

You can get Forex Striker Pro here:

http://www.cash-master.com/ForexStriker.php

 

Filed under Forex,Spread Betting by Guy

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