January 29th, 2010

Hello Everyone!

This is the first time I've ever sent out a preliminary heads up about a robot launch, but I know that this particular campaign is going to generate a ton of "buzz" and I seriously don't want to be answering hundreds of emails about it during the next 2 months. :)

It is, of course, the Forex Robot World Cup.

http://www.forex-robot-world-cup.com/index.php

The marketing genius behind this website is incredible. If I wanted to sell a ton of robots, this is what I would have done. Pick a selection of 20-30 robots, run them for 2 months, and sell the crap out of the best few.

Derren Brown (famous illusionist), in 2008, performed a similar trick. If you haven't seen his work in "The System", you can read about it here:

http://en.wikipedia.org/wiki/Derren_Brown#The_System

If we wanted to, we could select 100 robots, test them for two months, and I guarantee a couple of them will have done great. We see it all the time! Do you think people would be willing to pay $997 for "The Best Performing Robot" and the winner of a "Huge, prestigious contest"? You bet they would. But in reality, it's all smoke and mirrors. And this scheme is the most elaborate and tricky one I have ever seen!

Want proof? Their JV details were just released:
http://www.forex-robot-world-cup.com/jv_details.php

That's right folks. The winning robots will be sold for a whopping $997 and offer the affiliates a 50% commission ($477). You thought you got a lot of emails and hype about the USDBOT (which offered a 70% commission)? You ain't seen nuthin' yet! You will see HUNDREDS of emails about the Forex Robot World Cup circulating very soon.

I've been warning people about the Forex Robot World Cup for over a month, before the JV details were released.

How did I know? Some definite clues:

(1) No one has ever heard of any of these robots, not in a single forum or a mention of them anywhere else on the internet.

(2) No one heard or about or knew about the competition before they actually went live with the contest and stopped taking new entries.

(3) There is no way they could pay $100,000 to the winner of the competition. Even at the huge MQL yearly championships (which is a legitimate competition), they only give $40,000 to the winner!

(4) There is no way FXCM would have purposefully sponsored the contest without making the "banner" at the bottom of the website clickable. Would YOU pay hundreds of thousands of dollars to put a banner on someone's site that wasn't even clickable?

(5) The domain name (forex-robot-world-cup.com) has 3 (count that: three!) hyphens. No legitimate business owner or web developer would have allowed that in a website address unless 100% of the marketing was done online.

(6) The domain name is also protected by "WhoisGuard", which means the owner of the site/domain is 100% anonymous and unreachable. No legitimate business needs to hide themselves so badly.

(7) No EA developer who truely created an extremely profitable EA would ever release it or sell it. They would never give away a free copy. They would never sell it for $997. They would get CTA licensed and run managed accounts, period. Or get rich themselves. Why would a truely great EA developer let his proprietary trading methods get out into the public?

(8) And finally.... dare I say, no legitimate system developers or EA developers would offer a 50% affiliate commission and ALLOW their systems to be hyped up beyond belief.


Folks, most of these stupid robots are all scams. Yes, a couple of their robots maybe made some money - they got lucky. See the risk levels on their "good" EA's? 20%+ risk per trade. Those accounts will get blown out sooner or later and anyone who paid $997 for it will have that horrible, sinking feeling in their gut wondering why they just wasted more money on stupid robots that didn't work.


--
Scott Wang
Metatrader247.com