The Forex Impulse Trader is a robot that is used to send forex trading signals to subscribers of this service. After a very brief period of price gains, fortunes quickly nosedived and the performance of this robot has faltered badly. We are here to tell you if the Forex Impulse Trader robot is one to trust or not to trust.
Forex Impulse Trader: To Trust or Not to Trust?
The key question is whether the Forex Impulse Trader robot can be trusted or not. In order to find out if the software is one to trust or not to trust, some variables regarding the performance of the robot have been examined. Our findings have led us to believe that Forex Impulse Trader is software not to trust.
Here are some of the reasons why you should not the Forex Impulse Trader:
a) Excessive risk employed in trades.
b) Poor trading results.
Let’s look at these metrics one after the other.
a) Risky Trades
The strategy used by Forex Impulse Trader appears to be one which employs a lot of risks. There is some evidence for this. First, look at the drawdown %. This is presently at 15% and is actually rising.
Anyone who understands the impact of rising drawdowns on a trading account would be worried about what is happening here. When an account starts to get to these higher drawdown levels, it connotes excessive risk and it won’t be long before losing trades take out the capital in the trading account. We can also point to the steepness of the losing curve in the profit chart as a sign that excessive risk was used in setting up these trades.
b) Bad Trading Results
The performance of Forex Impulse Trader is captured in a snapshot from Myfxbook. There is a performance loss of 13.76%, same as what is reflected on the Myfxbook chart.
We also see some open positions which are all in the red. How will a trader feel if he or she logs into his account and sees the dreaded red mark all over the account positions page?
The essence of trading is to make money. If a robot does not fulfill this objective and even goes further to cause losses, this will not be an amusing situation. A robot that does not make money is useless to the user. No one buys a robot to see reds all over the place.
Special mention must be made of the growth chart below, which not only shows the account capital heading downwards towards negative territory but also shows the speed with which this occurred. The steepness of the chart shown below is indicative of the use of excessive risk. Excessive risk means that only one or two trades can take down an account very quickly.
When you combine a bad strategy which does not make money with a strategy that deploys excessive risk, the outcome can be quite disastrous.
Forex Impulse Trader is a forex service not to trust. We have based our findings on our own independent assessment that picked loopholes in its performance. The software has shown a complete inability to deliver any form of profits. A review of both demo and live accounts where this software has been used all point to the same result: losses and more losses.
So there you have it: Forex Impulse Trader is not reliable software.