This is a painful post for me to write. I still believe in the “farm bot” approach. But, sometimes you have to get rid of a tractor because it does something to cancel out all of the bushels of “crop” it has brought in previously. Unfortunately, this is the point I have come to with the EFX Octane bot. Others may continue to have very positive experiences. But, for me, we need to part ways. Why? Let me elaborate…

• I liked the bot until I didn’t: The bot has made me money. If it didn’t, why should I keep it around? The problem was what seemed to inevitably happened once I made money. Usually, this was a problem with MT4 or the VPS that caused the bot to lose the ability to manage any of the “pre-problem” trades. When the bot had a minimal drawdown and this happened, I lost a few hundred dollars. (It never dug into principle. It was a loss of some of my profits.) When you are in drawdown (over 10%) and this happens, the profits of multiple months evaporate.
• The Big Problem: The other bots I use, encourage you to reboot the VPSes over the weekend to make sure the computer has all necessary updates. Then, when trading resumes the following week, the computer is all ready to go. When I suggested this to EFX Customer Support, they told me “NEVER” reboot the server. The reason is their bot doesn’t easily have a way to track the trades that would have been placed before the reboot. Most other bots do. It is this issue that has made me very “anti-Octane” right now.
• Guinea Bot:My first encounter with EFX was with Forex trading. When they came out with the Octane bot, I was able to learn about Forex trading without having to be an expert. I liked that. Me and many others who were part of EFX were excited about the bot. Many of us purchased the bot at the “one-time intro” price. The customer support structure needed to be put in place and training videos needed to be created. Us “intro” people took it in stride. I had small issues with my bot and the necessary hardware/software, but I was making more money than I wasn’t. I kept telling my wife, “better money than CDs or the bank.” Eventually, the excuses to her became less plausible. That is where I am at now.
• Would I buy another Octane bot?: From what I have heard, Octane has gone up quiet a few dollars from what I spent on my license. If I were to look at Octane and other bots that legitimately make money and choose, I would not buy it. Many users have used it without problems. That is not my situation. The other bots I own are not perfect, but any substantial losses they have had have been due to me being too aggressive with the settings. If you have an Octane bot that is never interrupted by an internet sneeze or a hardware cough or even a software hiccup, you will be more fortunate than I was.