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Saturday, November 28, 2009

A Real Forex Apocalypse Review

By Kathy Alonso

The sales page sounded too good to be true. Having little knowledge about Foreign Exchange Trading it piqued my interest and after finding no negative reviews anywhere I decided to give it a try. The idea that it was a plug and play EA which could be set up and left to do what it does without being tweaked was very appealing to me. Reviews described that it made few transactions but was very reliable. It was said to avoid risky short term moves and go for more long term earnings. After I purchased the software I was taken to metatrader.com which as stated on the page was recommended for use with this EA. The sign up process was lengthy and included giving my bank information. The software was only available for windows and so I had to install it on a friend's computer. I funded my account through Paypal and installed the Apocalypse EA. I had trouble getting the EA to start working and contacted MetaTrader support about the issue. Affter telling me to reinstall their software they said that they could not help me because they do not provide technical support for EA's. They suggested I contact the Forex Apocalypse EA support.

After scouring the website for a support link, phone number, or email I decided to simply respond to the email that i had been sent when i first purchased Forex Apocalypse. I sent my question about setting up the EA through this email. They responded within 24 hours, which was very impressive but by then I had figured out what the problem was. The EA did not have permission to do live trading. I changed the settings and was ready to go.

It was left it on the default settings which are the following: magic number : 20202111 eachtickmode : true Lots: .5 stop loss: 250 takeprofit: 500 trailing stop;: 65 slippage: 3

I had it working on 30 minute graphs and all major currencies. It took a few days to make the first purchase and that same day I lost over $250. I was concerned that it may not have been running 24/7 so I subscribed to ForexHoster, which allowed the EA to be running 24/7 without any disruptions or delays. This costs about $60 a month. I also read through the Forex Apocalypse manual again and found that it said that the graphs should be set at 4 hours and 1 hour for best accuracy. I made these changes and left the EA running again. I was hopeful when a few days later the EA made another purchase and it looked like this one would make a profit. Unfortunately within a few hours I ended up losing another (over)$250. Very much dismayed, I wrote to the Forex Apocalypse support, telling them of my problems and asking for any help or suggestions. Once again I received a timely response. They suggested that I use shorter time frames and that "EUR/USD is the recommended currency pair as it produces the most stable signals". Once again the changes were made according to the recommendations given. Unfortunately the continuous losses continued and three weeks from when i first purchased Forex Apocalypse, I had lost over 800 dollars. Needless to say this was a hard learned lesson. I will be attempting to get a refund and I'll also be canceling my ForexHoster account.

Please learn from my mistake. If it sounds too good to be true then it probably is. Forex trading is far from being a science and no matter what you use or how you do it, it is more of a gamble than an investment.

But remember, not everything on the internet is a scam and it is possible to make a living from home. I've had great success with certain programs. To find out more visit www.ProsperLane.com. - 23208

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