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:: FOREX TRACER PRODUCT REPORT »

Forex Tracer

Forex Tracer User Reviews

Forex Tracer is a leading Forex software based Expert Adviser. The company claims that this product will generate the tightest spreads, the greatest returns and the highest payouts of any automated trading software on the market.

The benefits of this Forex software package is tighter trading in up-trending markets (ie bullish markets). It has a fairly simple user friendly interface that keeps the techie hassles to a minimum. And it is designed as a set and forget trading system that is supposed to require no human interaction.

Forex Tracer claims that their development team of seasoned trading pros has created a automated trading platform that has produced over 94.90% profitable trades from July 2006 to May 2008

Go to the Official Forex Tracer Website

:: FEEDBACK & OVERVIEW

Overall Rating:

Forex Tracer User Review Rating 4 Stars

Forex Tracer does work and users have generated profits with the system. However some tweaking of trailing stop loss settings is necessary to keep the system profitable. Consequently this would not be the best solution for a beginning or novice trader. Those traders would be best serves with some of the other more stable EAs on the market...


 

Actual Customer Feedback:

"Very pleased to say that the FK is working for me now that I have switched to the 1hr time frame...it just feels better. I was in a panic at first because it was showing about -20+ pips but when I checked the next morning , I was +52!!!!... Wow.. that blew my mind... .. so far.. using that little FK program, I have made +150 pips in 3 trades in the last 24 hours by using your settings. As a rookie trader it's still going to take a bit to get used to it, and I know that there will be "blown" trades, but there is finally light at the end of the tunnel. Thanx very much"
Portion of actual user review by Gary from Australia

"I purchased Forex-Killer and gave it a go and although it is simple enough to use, I personally needed more involvement with the charts to feel comfortable risking my money. I did a small sample back test with the software and as with any system or approach, you win some and lose some. Money management is the key. I asked for and received a prompt refund which, in my opinion, should relax the scam comments. I give it 3 stars and it will appeal to those who prefer a more "hands off" approach to trading. I am not one of them however."
Portion of actual user review on Shane, Canada

"I'm still in the trial phase of the product,although I'm a forex trader for years with my own system producing attractive returns for me. Results are relative and important over the long haul so I will keep you posted on results for at least the following 3 months. So far,I have had 7 siganls,and all of them winners. I've managed to pull 312 pips out of the market so far between 25/10/07 - 6/11/07. This is a 31% growth rate in less than 2 weeks of trading. But ok, 3months is still some time to go. I will keep on posting my results, and as the system gains credibility with me I will reveal more of the strategy I use with it."
Portion of actual user review by fanie, south africa

"I've used Forex Tracer for 1 month. The system started to make good money, but then all of a sudden, it started to accumulate losses. It seems it works really well on some markets, but then on difficult markets it gives all the profit back.
For me, Forex Tracer wasn't a good deal..."

Portion of actual user review on Yahoo Answers

"It's really work.I bought Forex Tracer... and yesterday it give me nice results: +60 pips from 9 am to 5 pm. I think it's ok for a (not) working day. hehe..."
Portion of actual user review by Mary Allens

"I'm currently using it; it rocks out on EUR/USD and it's going well. Was simple to install too... install MT4, put the .ex4 into the experts folder, open MT4, open new chart for EUR/USD, drag ForexTracer from the navigator panel to the chart, click the "Expert Advisors" button and now it's making me money
What you do (and what I did) is use the demo account to see if it could actually make me money. You get to trade with play money to see if it can make you profit without using your real money, it's great..."

Portion of actual user review on Yahoo Answers

Our Research on Forex Tracer Suggests:

According to the general online consensus (where research is based on unbiased, non-vested comments & articles), Forex Tracer is an effective Expert Adviser software suite. However some parameters will need to be changed in down trending markets..

The screen tests on the main page of the company's website give a back-test using 2007 historical data. This was confirmed by many independent sources to be an accurate portrayal of the systems effectiveness in an up-trending market. However other back tests indicate that back testing to years with non-bull markets such as 2004-2006 generates losses preset the way it was. 

Now it should be noted that users with some market savvy have used this software and adjusted the trailing stop losses (lengthening them) and have the system operating profitably in the current markets. The system typically does a good job of picking the correct market direction but in a highly volatile market would get stopped out by market chop. Thus with a longer trailing stop the software allowed the trend to develop better and the stop only took effect when a substantial market turn occurred.

Users who have adjusted the software to their liking have found great value in the product and the creators of the system claim that there will be free updates for life. This means that a fix for current market conditions could be in the works, but no official release has been scheduled.

Verdict:

Forex Tracer does work and users have generated profits with the system. However some tweaking of trailing stop loss settings is necessary to keep the system profitable. Consequently this would not be the best solution for a beginning or novice trader. Those traders would be best served with some of the other more stable EAs on the market.

Go to the Official Forex Tracer Website

:: PRODUCT DETAILS

Company Info:

Forex Tracer™ is a brand name owned by a d.b.a. of Forex Tracer™. The domain name (forextracer.com) was registered under this company in April 2008.

For more information about this company, you may want to search the BBB

Product Specifications:

Software: Forex Tracer Version 1.0 and Cherry Picker technical trading software.

Requirements: Requires Metatrader 4 - available from most licensed Forex Brokers. The software is a drag/drop application right into your Metatrader account. DSL and Cable Modem internet access is recommended especially for short term and inter-day trading.

Features: Forex Tracer software generates trading signals for long and short term trading. For day traders with high speed internet the system can support a 30 min up to date trading signals. 

System Fail Safes - In the event of computer power failure Forex Tracer has a freeze fail safe that will keep current trades open until the computers power is restored. During this freeze time, no new trades will open even if indicators are set to trade. The system will resume normal trading as soon as the power is restored.

Risk Management - Forex Tracer manages risk with stop losses and target exit points. Every trade that is entered will also have an associated trailing stop loss order in place as well as a target exit at the time the order is placed each and every trade has a fixed sl and tp when the trade is placed.

Ease Of Use - The system comes with a simple 1 page written instruction sheet along with detailed full screen captured videos including all the exact steps you'll take from download to installation. 

Bonus Software - The Forex Tracer software comes with a bonus software module that is titled the ‘Cherry Picker.’ This is a collection of 2 technical indicators that work in conjunction with each other allowing you to pinpoint the start of a trend (either up or down) with astounding accuracy! From the best of our estimates this system trades off of moving average indicators with cross over points. The bonus software is set up so that it takes both of the technical indicators giving confirmation to indicate a buy or sell order. 

The 'Cherry Picker" bonus software, does come with simple written instructions that are fairly straight forward for the average user.

Specifications: File Size 1094 KB  System requirements Win98, WinME, WinXP, Windows2000, Windows2003, Windows Vista Starter.

Price: $97.00
Return Policy: 56 Day Money-Back Guarantee

Official Forex Tracer Homepage >>

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