Originally posted by Bogdan G. For the full review and download click here
Why does OptionBot SUCK?
The principle behind the trade is plain stupid and totally wrong from the very beginning: a 3 pip move is insignificant, it’s a drop in the ocean and I see absolutely no reason why I would want to trade in the opposite direction or even in the same direction. No trade should be based on a 3 pip move.
The money management seems to be designed to terminate accounts quickly and easily: they recommend that I open 5 accounts with 5 different brokers and then I can switch between brokers directly from the Option Bot software. This is a nice addition, I agree to that, but then the bomb comes: they recommend that I use “…no more than 25%” of my trading balance. Oh, my God! You know what that means? That if I lose 4 consecutive trades, I will blow not one, but FIVE real money accounts…I am speechless and I cannot imagine how somebody can sell something like this.