We would like to devote this review to the robot with the proud name and emblem of the eagle: Falcor The Incredible.
On the first page of the presentation, in addition to the logo, we are invited to get acquainted with the results of its work in the last 30 days, in October and during 2019 so far. In the first period, the trading robot was able to earn $119,892, in October $116,140 and for the whole year so far $1,006,336.
In the first two cases, a new page opens with a sheet of closed trades and balances chart. According to data style, you can understand that with a high probability they were exported a backtest program.
In the case of annual profit, the presentation scrolls down and we are invited to see how the profit was divided by month.
Below we see a flashy headline stating that: “The forex robot that has taken the markets by storm.”
Three charts are shown in which the devs of the robot tell us what the program was guided in each case and what patterns it launched.
Among the advantages, it should be noted that the robot trades in all possible currency pairs, which in turn should confirm its versatility.
The developers of the robot emphasize that the patterns embedded in the robot, unlike all other robots, look at how the market behaves now, and not in the past. Based on this, a decision is made on further trading strategies and actions for opening or closing deals.
The peculiarity of this robot is that the developers even allow it to be used simultaneously with other robots, as mentioned in their presentation: “Use it alone, together with other fx robots, or as a compliment to your manual forex trading.”
Among the statistics presented, for a better understanding of the product, the seller emphasized that average trading volumes are below average as well as the duration of trading (usually less than an hour), but with a large volume of closed transactions per month.
Falcor Robot Trader: To Trust or Not to Trust?
We don’t think so. Without the robot life performing it’s hard to be sure that’s the investment you want.
No proved trade results
Yes. We have got the result of the backtest. But according to the presentation, the robot has been running since 2009. If the data of the backtests was true, why didn’t they try it on the live account?
If we take a look at the pricing we notice that the robot costs just $99 with (-50 OFF). Looks like they want us to test their trading robot on the real account.
No real data about the level of Drawdowns
This data is everything we got. It’s not so much and tells us almost nothing about drawdowns in 2019 years.
Lack of Transparency
We have got no official account, so, we can’t tell for sure about deals, pips, currency pairs, and a lot of others must be data to let us make a correct decision about buying the robot.
Conclusion: To Trust or Not to Trust?
First of all, there was no live account. The second option, and it’s the really high important info, what amount of a deposit you should bring for trading with what kind of the risk. Usually, real traders/developers warn us about the info about depositing/risking. So, they even don’t know that. Would you like to spend your real money to make this data (experience) for them? Of course, no. Falcor Robot Trader owners are not ready to spend their real money on it why should you do? No, you should not.