We decided to give this bot a chance. After reading reviews, most of which seemed positive, but almost all fo which contained referral links, we figured it was worth a shot. We tried both ltc and btc. The reviews suggested going with aggressive mode, so we did.

Wanting to go lightly, we started with $1000 worth of BTC. Immediately the bot sold almost all of the btc for a loss. From there, it just got worse.

To be fair, MtGox crashed during this time. And we were impressed with the controlled losses on the way down. However, we were not impressed with the fact that the bot lost money on just about every move, up and down. Within about three and a half weeks it had managed to wipe out over 10% of our original investment. This is horrible. Even a novice trader with good loss management skills should be able to do better than that.

The ltc side wasn’t much better. For some reason, it wouldn’t trade at first. That turned out to be a good thing. We put in $500 worth. After promptly selling our coins for a loss, the bot didn’t trade for the first week or so. Support never responded to queries. On a minor move of about a quarter, it managed to lose $20. We were impressed that it gained it back within a few days, but it still continued the downward movement from there, in spite of ltc gaining a dollar during that time.

We’ve emailed support numerous times. Once we received a response asking for our account email. After providing it, we received no more responses to our questions. NONE.

The literature claims that the robot reads technical indicators. Being familiar with these tools, I watched to see how it handled things. For loss management, it has some good features built in. However, it missed some obvious moves that anyone even slightly proficient at technical analysis and Elliot Wave theory should have picked up.

We’re now in the process of requesting a refund. Hopefully that part of the promise will be good. The rest of it wasn’t at all.

Kind regards,

Joe