Forex Magic Machine

A Fraud caught out?

Summary: Magic Machine was launched May 9, 2009. Website reports "sold out" as of May 15, 2009 but was available again soon after with notices that it is to be withdrawn again soon. Many people were still advertising to try to sell it - someone should have told them their advertising money was wasted being. Very unprofessional introduction to the market. No verifiable facts of its performance that I can find. August 7th update - Clickbank have closed them down, end of story.

Nothing to buy - nothing to review. Was Magic Machine a ghost?. Maybe it was a hoax, maybe it was a scam? Very shoddy marketing for a product launch to not even tell its supporters that it is sold out.

UPDATE: May 16th, I learned that this programming code called Magic Machine was actually stolen from some professional traders without their consent and full breach of copyright.

Large numbers of people got their money back from Clickbank. I am reasonably sure that it was withdrawn from sale because of the Clickbank complaints.

UPDATE: June 4th: I have had a few emails from the vendor of Forex Magic Machine. They started on May 18th - 2 days after my "review" written above - telling me that the robot was again being sold and to be quick before it is sold out finally.

Then on the 20th of May another email saying the product will be again withdrawn from sale on the 21st. All very strange. Then on the 26th of May I got a free gift of a trading template - which I tested. It was a piece of junk.

A trading template is for manual trading, and usually it is a few forex indicators added to the chart together with buy/sell signals the template adds when it is time for you to act.

This template was using the William's Percent Range, Money Flow Index, Relative Strength Index all in one window, a pair of Stochastics lines in their own window to show over bought and over sold trends, and finally - Upper and Lower Envelopes in the main chart.

The instructions are fairly straightforward. When a red dot appears above the chart's respective candlestick bar, or a blue one below, then it is time to either sell or buy - IF the other indicator lines confirmed it to be true per the instructions.

So, after adding the free trading template, I was impressed to see red and blue dots appearing on the chart highlighting when I should have sold short or bought long - if I had had the template before.

When checking the history of the proceeding days, I was impressed to see that this template seemed to have picked the highs and lows on almost every occassion. Occassionally a currency would touch just past its recommendation, but sure enough without fail the currency then went in the direction the "dot" said it would.

Being ever the doubting Thomas that I am, I added the template to a $5,000 demo account and had a play over the next few days. And very impressed I was having made between 60 and 130 % clear profit each day on the demo account.

But something did seem a little odd, at first I thought it maybe it was my memory failing me. That is, sometimes the dot seemed to have moved 1 or 2 bars to the right to give the appearance that it had picked the very best time to trade, this time.

Then I found out (the hard way) that it indeed was moving. It had told me to go short (EURUSD) and so with 8 lots only to get into a horrible loss situation. Then the red jumped over 2 bars again telling me I should be short - so I doubled up (haha, it's only a demo account after all).

This went on for hours - every time the red dot moving 2-3 bars to the right telling me to short - the whole time it was burying my account deeper in a bloodbath. When looking back over time, this moving dot kept giving itself the highest of "smarts" - but actually it was just cheating the whole time.

That's right, the $5,000 demo account went to $24,500 in 3 days, down to $600 in 6 hours. Funny as all get out :).

None of this has anything to do with Forex Magic Machine. It was simply a gift given to me by its vendor. I do note that Magic Machine is still available. And the last email from him is cross-promoting another vendor's big up and coming launch of a competing robot.

Forex Magic Machine Conclusion

I don't know the vendor. I don't think I want to know him either. I do know he stole the programming code for Magic Machine. I do know that he is a sharp, fast talking Internet Marketer. I urge strong caution with his robot. That is, be prepared to get your money back from Clickbank, and use it on demo accounts only until you are thoroughly happy with it. August 7th update: the website is dead, and all connection with Clickbank has ended.