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BookingAlpha Option Trading Advisory

Sunday, May 8, 2011

The Truth about the GPS Forex Robot.

Mark Larsen apparently gained some popularity as a "clean guy", "a fresh image in the forex industry", "a transparent no BS approach kind of guy". Mainly by giving away free stuffs like reviews and tips for trading the forex markets, plus some explanations here and there of basic forex strategies. And, that was good, maybe even easy in an industry so full of lies and shit. But it was even better for his pockets when later on he came out with the GPS Forex robot invention which saw the light in December 2010. Easy sale, provided he had proven to the world he was a "different guy".

This robot is sold for 149 bucks, and with a 60 day money back policy by ClickBank all they need is for the robot to not blow your account in two months to lock in the profits from your pocket.

Now, some interesting points to analyze:

1- In their sales pitch they say the robot doesn't use any tricks like martingale or anything like that. However, if the robot makes a losing trade it enters a "revenge" trade with 5x the size of the previous bet. That, is a nasty martingale where all your account is bet in that all or nothing play. See it with your own eyes take a look at the losing trades and then the position size of the following revenge trade. The disaster has not happened so far,.....but needless to say, trust me, it will eventually. Two losses in a row and you will have no account at all.

2- Is this Mark Larsen guy transparent? Is that even his name? Go to the sales page of the robot. The first thing is the 30% monthly profit advertised. That has never happened !!!! unless you increase the risk settings to the limit. Even in backtestings it never made 30% a month. And as of this writing, it returns roughly 5% per month in my account (yes I am one of the users, and have kept it for fun, now in demo account just to have some fun the day it finally blows up all the accounts that use it. It will happen, it is only a matter of time.) SO 30% a month is totally unrealistic.

3- The BS approach of claiming that only 1000 licenses will be sold, and after that the "SOLD OUT" message will remain on the site for ever in order to not decrease the efficiency of the robot. Well my friends,....just visit the site every now and then and you will see the counter in the upper right corner reset to 70 copies left every time it reaches zero. Obviously, the 1000 copies promise was a lie. The funny thing is, they didn't need to do it. They have the right to sell their crap as many times as they want? Why do they deceive people? There was no need to. Only to reinforce their sale pitch and make naive traders out there feel more confident buying the Holy Grail.

4- The comments session at the bottom of the sales page is just a trick to give you an illusion. You think, WOW! A sales page where they allow people to comment on their product! These guys are transparent! and they trust their stuff! Now, isn't it weird that all the comments there are positive? Over 800 comments on that thread, you think it is impossible for them to fake them and write them themselves. By reading some of the comments you realize they are authentic, that is written by outsiders and real customers. But just for curiosity, enter a comment saying something simple, for example that the robot uses in deed a martingale mechanism, or say something about the remaining copies counter that gets reset. They will remove your comment. I did it myself, I have no way to prove I did it, but feel free to do it yourself and you'll see yours removed too. Of course It is not hard to imagine they have done the same with more then one person. This also makes me question his "transparency".

Now, before I leave, let me give you a link to the Forex Peace Army page where this robot is reviewed by the community and have fun with that. Remember these are not affiliates or anything, but real users, with their personal experiences included.

Finally I will use one of the comments in FPA, which summarizes it all:

"PLEASE LISTEN ALL GPS FOREX ROBOT OWNERS!!! EVEN IF YOU ARE SUCCESSFUL SO FAR, LISTEN AND LISTEN LOUD!!!!! Mark and the Russian brothers have LIED to us. They said that this robot is NOT a martingale or a no stop loss system! Thats NOT TRUE! I am going to explain this scam to you. If you know about probabilities, you will know that if you risk 88 pips to win 8 pips, (that is to say, you are willing to go into open trade drawdown of up to 88 pips waiting for a reversal to get your 8 pip winner), then you will be successful 10 out of 11 times. And on the average, once out of every 11 tries, you will be stopped out. THIS IS ALL BASED ON PURE RANDOM CHIMPANZEE BLINDFOLDED TRADING! If you truly have some trading advantage in your strategy, you will do visibly better than 10 out of 11 wins.....but just go to the GPS trade by trade history from their click where they say to see the trade history to see the trade by trade will see by adding the winning trades and the number of 88 pip losers, that they show NO significant advantage over a chimpanzee is how the scam works.... Mark and the Russian brothers only need for this thing to work at least 60 days for you and then they locked in your $149....and this strategy will do little 5 pip trades that they are reelling off seem impressive...but remember that they have a HUGE 88 pip available drawdown in order to get that goal of 5 pips or so... So, you get hypnotized by the seeming magic of this robot...clicking off many winners in a row with just a little luck...THEN comes the 88 pip loser, which instantly wipes out virtually all of the winnners you got up to that what do they do? The pull a MARTINGALE "DOUBLE OR NOTHING" BET with a trade FIVE TIMES the size of the normal here is the is the KILLER....they NEED to get the 19 pip winner 100.0000000% of the time in order for this thing to work!!! Notice that in their long history you see I think about 18-20 of those 88 pip they have to make the 19 pip to recoup that big 88 pip loss and clean things, I have a they have a stop loss on that 19 pip trade? Seemingly not because they have never been stopped out in 18 attempts...I asked the russian brothers many times and they kept ducking and dodging and saying "it depends on market conditions"...finally, after asking them about literally seven times, they coughed out a 220 pip to their $22,000 the math....last I calculated a 220 pip stop on that "five times lot size" trade is over $30,000.00 !!!!!!!!!!!!! In other words NO STOP LOSS! BETTING THE FARM FOR 19 PIPS!!! Now...If you are willing to go into $30,000 drawdown to get those 19 pips, you will probably be successful about 97% of the time (I have not calculated exact odds), if you have a 97% probability, is it such magic to have 18-0 record???? I HOPE YOU UNDERSTAND THE LAWS OF PROBABILITIES, PARTICULARLY WITH RANDOM TRADING WHICH THEY ARE STARTING WITH BASED ON THEIR WIN/LOSS RECORD BASED ON THE 88 PIP RISK.... Add in the cost of commissions, and your blowout WILL HAPPEN! Look at the link to poor Markus's $5000 account...look how fast his blowout happened! DONT BE FOOLED! GET YOUR REFUND ASAP AND DONT BE INTIMIDATED BY THEIR 30 DAY DEMO SCARE...CLICKBACK ULTIMATELY WILL SIE WITH YOUR WISHES...CALL THEM AND INSIST...EMAIL ME IF YOU HAVE ANY DOUBTS!"


  • Mark Larsen is not a transparent guy at all. Contrary to many people's believes.
  • The GPS Forex system is not a perfect system, not even a good one.
  • The Gps Forex system does indeed use the Martingale strategy. And not a clever one by the way.
  • The GPS Forex robot will eventually entirely blow up clients' accounts not by 5%, or 10%, but by 80% to a 100% one of these days. Wait for that day, because it will be a lot of fun.
  • Will Mark sleep well at nights? Will his conscience be clear after being aware he sold his soul to devil? For sure he does!!!! By now he had at least 1000 users who bought the robot. That is at least 150K on his personal accounts. I bet he can do many good things with that money in the future to redeem his soul.

Go to the bottom of this page in order to see the Legal Stuff


  1. Thanks for this post LT.These days (April 2015) another shameless guy called "Doug Price " selling lots of EA under different trade names with "Rev trader pro" RTP and Vortexpro" VTP the most common.He charges 697.00 USD for each of his EAs,and blows up you your account. As you said , he sleeps extremely well by fleecing people.
    Shameless ,rude and unethical guy.Biggest scammer ever!

  2. New scam. Gold Digger from same 3 guys! Binary brokers are crooks too. So, Gold Digger is a quadruple scam!