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August Forex Golem Review: Scam Forex EA?

August Forex Golem Review: Scam Forex EA?

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Welcome to the unbiased and truthful August Forex Golem review. There is nothing for us to marvel when we think of this Forex expert advisor. The August Forex Golem goes for $197 per license, and the developer claims that it is the first Forex expert advisor with real time optimization.

That is to say that the August Forex Golem is updating itself in real time because the developer doesn’t want to apply the same trading strategies across all markets.

The reason why they included this feature into the August Forex Golem’s algorithm is because we cannot trade one market based on the same parameters all the time.

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So with this self-adapting feature, the developer believes that this expert advisor will give us a significant edge.

Right now they are selling the first 100 copies for $197. The developer claims that once they hit the target, price will change to $350.

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We believe that this is a common sales tactic among creators of Forex expert advisors. They simply want us to make hasty decisions without conducting due diligence to establish whether the product we are buying is worth it.

The August Forex Golem is definitely a peculiar trading system, and I will analyze its details very carefully to help you make an informed decision.

Note: These Forex expert advisors are highly recommended to traders of all levels.

August Forex Golem Review

There are two main selling points for this robot. The first one is the self-updating algorithm, and the second one is the claim that The August Forex Golem is the first expert advisor to use FIBONACCI RETRACEMENT in addition to a series of indicators.

Definitely this is not the first FIBONACCI RETRACEMENT expert advisor, and you can take this to the bank.

We do not think this is the right approach to trading as evidence has shown that opening multiple positions in one direction can be fatal to your account.

Also, there is nothing about money management, which is an essential part of trading because if you miss it, it doesn’t matter how well you trade with these concepts. It would just be a matter of time before you get slaughtered.

Secondly, there is no way to confirm these claims as made by the developer.

Other than this, the sales page of this expert advisor has nothing concrete to validate the claims or persuade us that it is the right Forex expert advisor to spend $197 on. It feels like a shady robot.

The developer has a few more links on the site which are basically promoting other services like Forex brokerages and Forex VPS.

Their FAQ page does not build our confidence on this product either. It is addressing very generic questions and concerns.

So this leaves us with no choice but to wonder whether the August Forex Golem is a good expert advisor as proclaimed on this sales page.

AugustForexGolem review – about the developer

Nothing is known about the creator of this auto Forex robot. Not even their trading results can be verified for us to know what kind of software development experience they have.

The site is also quite economical with information, which creates a sense that the developer is not confident with their work. They should probably work on this if they want their target clients to trust them.

August Forex Golem quick details

It can trade many pairs. These include EURUSD, EURGBP, GBPUSD, USDCHF, AUDUSD, USDCAD, EURNZD, AUDNZD, AUDCAD, AUDCHF, CADCHF, EURAUD, USDSGD, NZDUSD and many more.

However, the developer says that AugustForexGolem is well optimized for the EURUSD and can produce the best results on the 1 minute time frame.

The trading strategy appears to be based on scalping and Martingale where the Forex robot tends to open many positions in the same direction but with small take profit targets.

It is quite evident in their FXblue trading results that this Forex expert advisor trades in this manner.

The software basically picks many small trades as many times as it can. This makes it feel like it is gambling in the Forex market place.

We do not think this is the right approach to trading as evidence has shown that opening multiple positions in one direction can be fatal to your account.

Also, there is nothing about money management, which is an essential part of trading because if you miss it, it doesn’t matter how well you trade with these concepts. It would just be a matter of time before you get slaughtered.

August Forex Golem trading results

The developer is providing us with very odd fxblue trading results, and I’m just wondering what is the use of displaying them if they can’t properly utilize this platform to share their numbers.

This Fxblue account provides us with old trading results and there is even a warning that the statement is not complete.

For the August Forex Golem developer to provide us with outdated results in 2018, it only means that they stopped tracking the performance of this software.

 

We don’t need trading results for the year 2016 because we are on 2018 now. It would have been much better if they gave us results for each year of their trading.

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Also, it’s quite clear from the above results that the AugustForexGolem is a scalper that uses grid or martingale trading strategies. Based on what I am seeing here, I am not convinced that this is a good Forex expert advisor.

Our best advice for you

AugustForexGolem is a scam Forex robot, and there are many reviews where customers claimed that this Forex robot blew up their trading accounts. Think about that. This is definitely something i cannot recommend trading with. Even Forex Peace Army reviews seem to be negative. So that means that this robot is a money loser. Stay away from it.

Note: If you’re looking for good Forex robots, there are only a few you can use and trust. Explore these highly recommended ones.

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