Bamsbung.com Review: Is bamsbung a Scam?
Bamsbung.com offers 3 different types of trading products which include Bamsbung EA, a trading strategy and an MT4 indicator. The website is full of grammar errors, which makes it obvious that the developer is not a native. Furthermore, reading their website is a hellish experience.
To prove that Bamsbung trading products works, the developer has provided strategy tester report dating back to as early as 2001, which has made me wonder whether Bamsbung.com existed decades ago.
The developer does not disclose who they are or what type of trading background they have. He seems to be of Islamic faith since he claims that perfection belongs to Allah and we should not be looking for a perfect trading product on his website, Bamsbung.com.
I personally don’t like trading with systems whose owners are anonymous. I like to gauge the trading experience of authors before believing their products.
If you look at some of the expert advisors which I have listed here, you will realize that I have a personal relationship with the authors. I have an intimate knowledge of their products well and can prove that they work as stated on their various sales pages.
So I think you should go for any of those products instead of trusting that Bamsbung will give you a working trading indicator or an expert advisor.
Bamsbung seems to be a new website since it does not receive any significant traffic from online visitors.
If the trading products which the author is selling really worked, I believe that people would be flocking to this website. But this isn’t the case.
In as much as Bamsbung claims in their promotional materials that their trading systems work, they fail to give us concrete evidence of that assertion.
The vendor even has one myfxbook account whose link cannot be accessed. That trading account is a demo and was opened using Alpari broker.
It claims that Bamsbung trading system gained 301% in 2013. What the vendor fails to provide is a link back to this myfxbook account. The possible reason for this could be that the trading system crashed that account.
Bamsbung does not reveal the strategy of their trading products too. Instead, 3/4 of the space in this website if filled up with screenshots of supposed trading results. These have not been verified by an independent third party. So I cannot believe them.
Bamsbung EA review
This robot is easy to install and is fully automated. They claim that it is safe and produces consistent returns. I need proof for this, which again is not forth coming.
I would love to know how this robot manages risks. But what the vendor says is that it does manage risk. This is vague language.
However, later on, they claim that Bamsbung EA can lock in profits. I presume this is through Trailing Stops. They also claim that the robot is updated every time, and yet there is no update history to prove that updates have been done ever since it was launched.
They claim that they have a very accurate trading indicator that does not repaint. It reads long and short term market trends but my question is what strategy does it use.
I am quite disappointed at the sketchy presentation. It sounds vague and the grammar errors suck. I hope the developer will find time to work on this.
Bamsbung trading results
There are a couple of strategy tester reports and trading statements. There is also one backdated myfxbook account labeled BamsbungR.
This account shows that whatever trading strategy/EA is being used here achieved +81.21% between January 2014 and February 2014.
You will obviously realize that something is wrong with this myfxbook account.
It is no longer active as the last time this myfxbook account was updated was in Mar 20 2014.
1 month of trading is a short sample of trading results. Some systems can do well in one month but if you test them for 3 months, they will end up losing money.
I am therefore disappointed by these trading results and I can definitely say the vendor did not prove that Bamsbung trading products work.
I wouldn’t recommend that you buy anything from Bamsbung. The vendor lacks transparency, and cannot be trusted. Even their trading results are really disappointing. On top of this, price was not revealed upfront.
Therefore this does not look like something I can spend my money on. You’ll be safe with my recommended trading products here.