Forex Ambush Review

Overview

Can anyone honestly declare that their system produces 100% accurate trading signals in the forex market? Well, claims to that effect are still being made on the website of the online vendor of Forex Ambush, a forex signal generator service which also offers an automated trading feature for an additional monthly charge.

While a sane person with any significant forex trading experience would probably consider that bold assertion ludicrous, apparently a number of less skeptical people feel it may have some validity and were willing to put up some money to give it a try. Still, what could give someone the confidence to make such a claim?

Apparently, the answer is artificial intelligence. Forex Ambush was purportedly developed by a group of over 30 professional traders who helped developed the trading signal generator software to always call the market right, or so the vendor claims. Nevertheless, even a broken clock is right twice a day, so perhaps “right” is a matter of definition.

In this case, “right” for Forex Ambush’s vendors seems to be anything better than the 600 pip maximum drawdown its trading system recommends. Yes, you read that right — a huge 600 pip effective stop-loss on trading positions — but of course you have to consider the profit side too.

With respect to profits, the automated trading version apparently uses a fixed take-profit level at 20 pips, with a trailing stop that takes effect only so long as the trade has gone more than 5 pips into profitability. Otherwise, no stop loss on the position occurs until 600 pips away from the entry point, and then that level probably just represents an automatic close out by your broker due to insufficient margin.

Furthermore, upon reviewing Forex Ambush’s website in detail, and considering the experience with the service that many people writing in online discussion forums like Forex Peace Army allege they have had, the 100% accuracy figure may be right if you do not mind waiting weeks or even months for an underwater forex trading position to turn around and can keep meeting margin calls.

Nevertheless, many retail forex traders who trade close to their margin limits have already seen their accounts decimated by following such an ill-advised trading strategy.
Most seasoned traders would agree that this signal service just does not promote sound money management and so instead offers a recipe for disaster.

Not only does this signal-generator service have a poor record when it comes to money-management, it also has a sub-standard track record when it comes to customer service. Out of 46 user reviews for the signal generator service at Forex Peace Army’s website, the average rating was just over two stars, and recent posts indicate the service may now even be defunct after having blown out most, if not all, of its customers’ accounts.

Even an attempt to sign up and pay for their service was rejected. Anyway, just in case you might still be curious about Forex Ambush, additional information has been included below from various Internet resources which might include the vendor’s website.

Facts About Forex Ambush

Product Type: Trading signal generator service with optional automation.
Vendor Site: www.forexambush.com
Cost: $197 one-time fee, plus $97/month for AutoTrade feature.
Guarantee: 60-day, no-risk, 100% money-back guarantee via form processed by vendor in 2-7 business days.
Payments and Refunds: Made via Clickbank.

What You Get With the Forex Ambush

• Trading signal generator service via e-mail or SMS alerts.
• An extensive website FAQ answering many questions about using the signals and setting up a trading system.
• Customer support via telephone, fax, e-mail and chat.
• One MetaTrader 4 Expert Advisor that manages trailing stops for you.
• Extra month fee and use of special broker gives you access to an automated trading capability.

Forex Ambush Characteristics

• As a Signal Generator
• • Receive trading signals via e-mail or SMS as they happen.
  • Subscriber executes trade immediately as stated in the signal via MT4.
  • Positions automatically close either at the take profit or trailing stop level.
  • Uses trailing stop EA but no conventional stop loss orders.
  • Execute trades via the MetaTrader 4 platform.
  • Recommend that you use brokers that support MT4.
  • Only sends signals during E.U. and U.S. trading hours.

• As Automatic Trading Software
• • Trades can be initiated automatically with AutoTrade for an additional monthly fee.
  • Requires a Mini FXCM UK account and a minimum deposit of $2,000
  • Works with regular FX Trading Station, not MT4
  • Windows operating system only.
  • Windows VPS hosting service recommended for maximum uptime.

Pros and Cons of Forex Ambush

Pros:

• Uses a trailing stop MT4 EA to protect profits.
• VPS hosting service can be used to assure 24-hr AutoTrade up-time.
• AutoTrade robot makes objective decisions and trades automatically.
• MetaTrader 4 compatible software.
• Claims 100% profitable trades.

Cons:

• Does not use conventional stop losses to manage risk.
• Only manages “drawdowns” i.e. losses at 600 pips from entry.
• Automatic trading involves substantial extra costs on a monthly basis.
• Only one trade open at any one time.
• Profits are small, but potential losses are large.
• Traders report getting stopped out with margin calls.
• Users claim to have received poor customer service response times.
• Does not send signals outside of E.U. and U.S. hours.

Conclusion

Overall, Forex Ambush has some serious problems associated with it. First of all, its manual signal trading system does not involve entering conventional stop loss orders, and the AutoTrade version only steps in to manage draw down risk at a huge 600 pips away from the initial entry point. This can easily wipe out a trading account, and apparently has prompted several nasty margin calls and/or automatic close-out losses, according to user reports on Internet discussion forums.

Another issue with Forex Ambush is the high one-off cost associated with the signal service of $197 which is more than most fully-automated trading robots cost to purchase. Furthermore, when you can buy other robots for around $150, why would anyone want to pay an ongoing $99 per month for one, after first paying the $197 one-off fee?

Perhaps someone would do this if the trading signals were really 100% profitable, as the vendor’s website claims. Nevertheless, the aforementioned severe drawdown/margin call problem means you can show a nice string of small profits only to then have your entire trading account wiped out by a large loss due to a sharp market move.

Most seasoned forex traders who have seen such moves happen would not consider this an appropriate money management strategy for staying in business over the long term. As a result, Forex Ambush is not recommended unless perhaps you do not mind the risk of getting “ambushed” by this potentially significant problem.

Visit the official Forex Ambush website for more info.