Does Forex Growth Bot Really Work or Is it a Scam? Here is a review of Eugene Lipinsky's Program:
Investors have realized in recent years that there is a lot of money to be made in the foreign exchange market, and it has become an extremely popular market to trade in. Along with this growing popularity has come the rise of forex robots; a term given to software programs that actually manage your forex trades for you on autopilot. Forex Growth Bot is one of these programs, and in the following paragraphs I am going to take a closer look at this robot and see if it follows through on its promises. Its creators claim that it is programmed to be able to make highly successful trades with little risk—but can their claims be substantiated? With literally hundreds of forex robots on the market now, what makes this one special?
Forex Growth Bot was developed and perfected by Eugene Lipinsky, a Russian programmer and applied math scientist. Lipinsky has a rock solid reputation as a master programmer, and claim that while testing his creation he was able to profit over $100,000 in just three months time. His breakthrough algorithm for identifying winning trades and pinpointing the timing for maximum profit has made FGB a standard bearer for forex software.
Unlike other robots that use simple probabilities, Lipinsky programmed his software to look at the bigger historical picture and analyze a number of indicators simultaneously. This makes his predictions many times more accurate than the industry average, and puts FGB at the top of the proverbial food chain when it comes to automated forex trading.
How it Works
The software identifies patterns in the market based on the proprietary algorithm Lipinsky created, and when it finds a trade that meets all of the criteria it enters into it based on your settings. From here it is all about position management. If the market moves as predicted the robot holds your position. If it moves against you the trade is closed immediately. This maximizes profit while minimizing losses, and over the long haul makes for some impressive earnings.
When the market trends hard in the right direction, the robot automatically adds to the position. It does all of this without your input, so there are no tough decisions to make on your part. The software uses its advanced capabilities to monitor the position, and acts accordingly based on its internal assessments.
Self Adjusting Algorithm
The software is designed to automatically adjust the position size based on its internal risk assessment and the available funds in the portfolio. You control the limits of position size with the settings tab, so you will never be risking more than you are willing to lose. The software does all of the work, but you are in control of your money. In addition, the carefully devised exit strategy mitigates losses from unsuccessful trades.
Installing the Program
FGB is easy to install, and even easier to use. The software is available for download as soon as the purchase is made, and all you have to do is install it and point it at your broker to start trading. The default settings are ideal for most traders, but you can adjust the settings to your liking, and set them to automatically adjust as your portfolio grows. For the more hands on types there are manual settings that can individually set to your preferences.
I can talk about the features of the program all day, but what you really want to know is if it produces profitable trades, right? The win ratio for FGB is right around 40%, but this number can be misleading. When you consider that the average win is twice the size of the average loss you can see that this win ratio will actually produce very nice profits.
The robot makes, on average, about 1.5 trades per day. There will be times when it doesn’t make a trade for several days, and other times when it will make three or more trades in a single day. This all depends on what it sees in the market. Most of the trades (80% or so) close within a day, but there will be some trades that hold for 2-3 days.
Once you run the software for a week or so you will see the method to its madness and start to trust its judgment. It is a truly invaluable piece of software for forex traders, and I don’t hesitate to recommend it to anyone wanting to get into foreign exchange trading.