A couple of days ago, I mentioned being contacted about a bot that I was told had pretty good gains. What you see above is approximately 36 hours of the “bot” playing in a demo account. (Not real money.) If it were real money, I would be up over $2,000 in that 36 hour period.

If you want to check out HGS’s myFXbook, you can find that here: https://www.myfxbook.com/portfolio/hgs–by-your-lazy/10870208

I will attempt to give some analysis based on less than 2 days of exposure to the bot/system:

Cons

• This is not a true “bot”. I was told, “This is a manually traded system. The trades are executed manually based on demand/supply levels, price action, economic data and news, etc. However, the risk management part has been automated. The system will automatically start closing trades if equity falls below a particular level.” The manual intervention could be an advantage, but it is a “one-off” from my other bots.
• It is risky. If I haven’t already mentioned in this post, Forex trading is risky.
• Since it is not a “bot”, it is not using algorithms in the full sense my other bots do. If this system has been backtested with 3 or 5 years of data, I am not aware of this.
• HGS recommends a minimum of $25,000 to get started with this system. Depending on your situation, that could be a barrier.

Pros

• The bot provider has informed me, “It has 64% monthly gains with a win rate of 87% and it wins 56 pips on average while losing just 12. The system has a huge edge.”
• It also has no upfront monthly fee. Once profits are made, 30% of the profits are paid to the bot provider. This can be paid via Skrill, Wise, Neteller, Venmo(Crypto transfers). If you don’t have a Crypto account or are uncomfortable with Crypto, this would likely be a “Con”, too.
• My brief exposure to this system shows considerable gains. And, the data from HGS’s myFXbook account are quite impressive. (above)
• Because there is some manual involvement, accounts can be protected from “black swan” events.
• You never lose control of your trading account. The only information provided is the login and password info for you trading account. This does not give HGS the ability to move or withdraw money. It allows them access your account so investments can be made.

Conclusion

For me, this bot is likely not an ideal solution right now. Obviously, I will have to withhold final judgement until the demo account test is completed. I am still locked into the “tractor” model. This is a tractor of a different color. I like the gains, but the lack of long-term data is an obstacle to me immediately putting “real” money in right now. Of course, if I receive additional info, I will pass it along.

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