Hi there! A few posts back (over here) I talked about an forex robot that claims to have “achieved 100% profitable trades since January 2000” After a few days of cleverly teasing people with an introduction video the actual product has finally been made available to what they call “a lucky few” The author of this product decided to call it “The Forex AutoCash Robot.” Sounds kind of catchy, doesn’t it.
Hoping on to The Forex AutoCash Robot homepage I managed to find out who created this product. The name of the man is “John Burroughs.” Honestly, I’ve never heard of this guy, and I’m not even sure if that is his real name (creators of these “hot” forex products have a tendency to hide behind pseudonyms) A Google search did not find anything relevant, so this guy’s name is not “out there” yet. If have some information about this guy you’re willing to share, please leave a comment.
Do you remember that “Automatic Forex Robot Achieves 100% Profitable Trades Since January 2000 ” claim? I found it a bit amusing how John tries to back up that claim. John has a copy of a letter from a law firm which supposedly conducted a third party review of his product.
I searched the net to see if this law firm has a website and did not find anything. Scratch that out. I looked a little bit more diligently and found the website of this law firm over here. Have a look at the letter for yourself:
Whether it’s fake or not, I can’t tell at this point.
Now if you’re wondering how this forex robot works, you’re not alone. I too am curious to know how it really works. Judging by the following quote from its homepage it seems to me that it uses a market scalping technique, but I could be wrong:
“My robot simply doesn’t care… it only cares about small price movements…movements that usually occur within a few minutes throughout the day. Movements that will ALWAYS occur, no matter what happens to the world economy or the markets”
The equity graph you see on the Forex AutoCash homepage no doubt comes from a backtest. I always prefer forward demo or live testing, but apparently no such performance results are provided. As you all should know backtest results can always be faked by a process known as curve-fitting. Even if it’s a backtest I still don’t see any mention of the modeling quality used to conduct it. Well folks, that’s about all I can gather and surmise without actually owning the product.
Price wise this product is situated roughly in the middle range of the forex products spectrum on ClickBank. The is a twist to it though. This product is initially available at a fixed price but once the limited number of fixed-price copies are sold it can only be leased for a much higher price. The subscription fee seems a bit low for a product that supposedly never loses. If I had a forex robot that truly did not lose I’d lease it for a heck of a lot more, or maybe not at all 😉 But anyways, here is what John Burroughs has to say about pricing:
Remember…the first 200 copies will be offered for a one-time payment of just $97 – no subscription – no ongoing payment whatsoever.
Once those 200 copies are gone, the price reverts to a monthly subscription of $119
I remain undecided whether to buy it or not, but if I do I will demo test it for the long term and report my findings here. I have a feeling that the 60 day money-back guarantee will definitely come in handy.
The Forex AutoCash Robot homepage can be viewed here: