Greetings all! Fancy yourself a user and fan of forex robots (aka Expert Advisors)? Well, if so I’ve got some news for you. Another one of these hot shot commercial forex robots has hit the market. This forex robot goes by the name of Forex Maximizer and is supposedly created by a chap that calls himself Kevin Long. Am I the only one who finds that name rather amusing when used in the context of forex? Anyways, joking aside, Kevin Long claims to have been trading forex full time for the past 5 years. Good for him I say, but that does not interest me as much as the EA itself.
From what I can gather from the Forex Maximizer sales page, this EA trades on the GBP/USD currency pair and appears NOT to be another scalper robot. Kevin is of the opinion that scalping is a very dangerous activity to engage in given the current market conditions. I’m not sure I fully agree with him, but I can definitely appreciate how some scalping EAs can be destroyed by market volatility. As such Forex Maximizer does not shoot for small pip wins, and instead boldly tries to squeeze out of the market 50-90 pips per trade. Kevin then goes on to say that Forex Maximizer grabs this profit
“without the dangerously high stop-loss risks that come with scalper robots by balancing timely market entries and exits with ultra-low drawdowns”
How? By using what he terms “ALBG (Automatic Leverage increase according to Balance Growth)” technology. Sounds to me like a fancy techno-babble way of saying that the EA will increase the size of the lots it trades as the account balance grows.
Forex Maximizer is sold via ClickBank so I feel rather safe in giving it a try out of sheer curiosity. If it turns out to be a cap system it will be easy for me to get a refund.
Tell you what. How about I make another post here when/if I decide to buy this product. If I do, I’ll (as always) test it extensively and post non-biases and non doctored performance updates.
By the way, if you wish to join a public discussion regarding this forex product I suggest you check out this thread over at the Forex Nirvana forum:
http://www.forexnirvana.com/f19/forex-maximizer-1541/
Cheers,
Alan