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Forex Shocker

Overall Rating:  (4/5 Stars)
My Wealth Mastery Status (20 Sep 09): Partial Approval - Demo Trading
Buy Now: https://secure.plimus.com/jsp/buynow.jsp?contractId=2392368&referrer=gdaywealth

Creators: Forex Shocker is a product of Forex Developers LLC.

Price: USD129 (Special Note: The official Forex Shocker website says the $129 price is an introductory offer and price will be going up soon)

Release Date: Late May 2009

Pairs Traded: EUR/USD, GBP/USD, USD/CHF, EUR/GBP, EUR/CHF and USD/CAD

Timeframe: 15

Trading Window: 20:00-22:00 GMT (when these pairs are usually not very volatile)

Trading Strategy: Forex Shocker is an adaptive scalping EA and generally attempts to take profit of around 4-6 pips. The stop loss is around 32 pip range. It uses neural network technology to adapt to changing market conditions. The EA attempts to isolate occasions when one of these pairs makes a quick move up or down, and immediately takes a contrary position(s). Forex Shocker relies on the pair quickly bouncing back into its range, where the EA can take a small profit

What You Get: As owner of Forex Shocker you get the Forex Shocker Expert Advisor (compiled .ex4), the Forex Shocker DLL (.dll) and a 42 page setup and configuration manual.

License: Purchase allows for use on one (1) live/real account and one (1) practice/demo account.

Installation: The installation manual contains all needed information to setup the EA and the installation is simple.

Customisation: All settings of the EA are well explained in the manual. There is one parameter to adapt the robot to 4 or 5 Digit price quotes and to enable/disable MicroLots. As the EA trades during a specific time window it’s important to use the correct time settings for each broker.

According to the manual, this EA has “the ability to adapt to changing market conditions” through re-optimization of these parameters. The manual contains the current settings which should be used. While these parameters have apparently been optimized for each pair, over what time period such optimization has taken place is not made clear. The user has the option of optimizing these parameters, but Forex Shocker’s manual states that it will provide free updates to its customers if the parameters require changes.

Money Management: With this EA it’s possible to define the lot-size manually or let Forex Shocker decide itself based on the free margin. For the automatic lot-size calculation there are 3 risk modes available: normal, aggressive, super aggressive.

Broker Requirements: Forex Shocker works on brokers with 4 and 5 Digit price quotes and is compatible with ECN brokers. As it is a scalper EA it requires a maximum spread of 4 pips on the pairs it trade.

Proof of Results: The official website has 1999-2009 Backtest results for each of the six pairs traded and three Live Testing Accounts. Special Note: Although the EA is designed to work with 6 currency pairs, live testing accounts on the official website appear to be trading EURUSD, GBPUSD and USDCHF only.

Support: You need to request the Verification Code by E-Mail after the purchase. I got the Verification code needed to run the robot in less than 1 day.

Money Back Guarantee: No refunds are allowed

Pros

* Uses State-of-the-Art Neural Network Technology
* Fully Automated
* Designed to operate on six currency pairs - EUR/USD, GBP/USD, USD/CHF, EUR/GBP, EUR/CHF and USD/CAD
* Works with all Forex brokers using the MetaTrader platform, including ECN and 5-digit brokers
* Offers three money management options to suit different risk tolerances – normal, aggressive and super aggressive
* A well documented setup and configuration manual
* Forex Shocker’s manual states that it will provide free updates to its customers if the parameters require changes.

Cons

* Purchase allows for use on one (1) live/real account and one (1) practice/demo account. The limitation on number of demo accounts is irritating as we all like to test different brokers before going live. I am not sure what the policy is about changing accounts after a while.
* It is a Plimus sale, without any money back period. All sales are final.
* Although the EA is designed to work with 6 currency pairs, live testing accounts appear to be trading EURUSD, GBPUSD and USDCHF only.
* Forex Shocker is bit pricey compared to most commercial EA

Overall Rating: (4/5 Stars)

Final Thoughts: There are many EA’s scalping EURGBP and EURCHF. I’m mostly interested in trading EURUSD and GPBUSD. But of course I will demo trade as there could be a difference with brokers and latency. I will demo test for 4-6 weeks and hopefully everything works out so I can Go Live with Forex Shocker. Scalping GBPUSD would be a welcome addition to my portfolio of EA’s.

Buy Forex Shocker Now: https://secure.plimus.com/jsp/buynow.jsp?contractId=2392368&referrer=gdaywealth

Performance Results
Aggressive Settings (I am running the demo account with aggressive settings)

Live Trading - Not Started Yet

CASHBACK OFFER FOR MYWEALTHMASTERY USERS!
My philosophy in life is to add value, to make things better. So, I was thinking how I can make it better for the users of my website. And, then I got the answer – Cash Back Offer. For every sale that happens through my website, I get a commission from Forex Shocker. If you buy the robot through a link on my website, I will share some of that commission. Yes, you heard it right - I will share some of my commission with you! In fact, I will refund you 40% of the commission I receive. That’s awesome – don’t you agree?

For Forex Shocker, I will pay USD15.48 into your paypal account. Just follow these simple steps for Cash Back claim:

* Buy Forex Shocker by clicking on the link here https://secure.plimus.com/jsp/buynow.jsp?contractId=2392368&referrer=gdaywealth

* After buying Forex Shocker, please send an email to admin@mywealthmastery.com with the subject “Forex Shocker Cash Back Claim”.

* Upon receiving your email, I will contact you for details of your purchase like date and time of purchase, paypal email id, transaction receipt number, etc.

* I will check the transaction details and will deposit the refund into your paypal account.

ABOUT THIS REVIEW
I have been trading Forex for a number of years and have traded shares, options and futures as well. I have spent tens of thousands of dollars on various expert advisors, systems, strategies and seminars. Some of the products worked for me but most did not. Sometimes it is so easy to get sucked in by the marketing hype created by the promoters of various products. I have to admit, I have done this many a times myself. After buying some of the duds, I felt there is a need for someone to provide an unbiased opinion on these products. With this review service, I hope to give you my honest, no bullshit assessment of this product. My commitment to you is that I will not be recommending a product that I do not believe in and will not be willing to use on my real account. Yes, if you buy through my website, I get to make commission from the sale but to show my commitment and the desire to help you out; I will pay you 40% of the commission I receive. That’s awesome – don’t you agree?

Happy Trading !

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