Hi Salvatore,
We’re truly sorry for the issues caused by the latest update, v1.7.1. On July 16, high volatility in the EUR/USD market led to unexpected behavior in CarinaBot, resulting in significant losses. We have since reverted the bot to version 1.6.0 to prevent further issues.
We understand your frustration regarding the losses incurred. Our own account experienced significant losses too. The sharp drop in EUR/USD led Carina to detect four separate and conflicting entry points, resulting in mixed signals about which trades to open, the number of trades, and their direction. This chaos led to unusual risk calculations by Carina, causing leverage to escalate exponentially with each subsequent trade. Each trade was opened with increasingly larger leverage, spiraling out of control. It's important to note that all these trades were protected by stop-loss limits. The issue was not the absence of stop-loss but the relatively large leverage used in the third and fourth trades. When these trades hit their stop-loss limits, they were closed at a loss as the market moved against us.
Forex trading is inherently unpredictable and speculative, always carrying a high risk of loss. We have always openly and transparently admitted that we cannot guarantee what the forex market will do, what EUR/USD will do, or how our robot will behave and trade. When you decide to use our robot, you do so at your own risk.
Regarding compensations, that is not possible. We do not have such a policy. We publicly and openly warn that CarinaBot is a speculative and risky robot, and we do not provide any compensations for losses. The use of this robot is solely at your own risk. We allow you to use our robot only if you agree that you use it based on your own decision and at your own risk.
We are refunding the last Carina fee you paid us for using our robot. Please send us an email with the subject “CARINA FEE REFUND" and specify your USDT trading account number, so we can process the refund of the recently paid fee.
Regarding updates, this week we will release upgrade v1.8.0, with a built-in kill-switch mechanism that will turn off the bot if it becomes stuck in a loop of exponentially increasing risk during high volatility. Additionally, the upgrade includes a significantly optimized trading strategy aimed at better results.
Your Carina app will be updated automatically without any action required from your end. With version 1.8.0, we aim to enhance the profitability, security, and overall performance of our bot like never before. Additionally, we offer a complimentary 12-month Carina subscription if you are interested.
Thank you for your understanding and continued support.
Best regards,
Team CarinaBot