CarinaBot Reviews 

Reply from CarinaBot

Jul 23, 2024

Hi Cis,

No, Carina is not a scam. Carina is a speculative, risky automated trading robot. Speculation is a form of trading, and all trading involves speculation on unpredictable price movements, which always carry a high risk of significant losses.

The robot made some bad trades, which is regrettable, and we’re sorry for that. Our own account experienced significant losses too. However, trading by its nature involves risk, and we are always very transparent about this.

For more details, please refer to Section 4, 'Risk Warning,' in the Terms of Use. If the risks involved are too uncomfortable for you, you're not obligated to start using or continue using the robot.

To minimize risk, you should always withdraw your profits on a regular basis. This helps you stay better protected from turbulent days and recover more quickly.

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 send you the refund of the recently paid fee.

Regarding updates: This week, we will release upgrade v1.8.0, which includes 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, a significantly optimized trading strategy aims for better results.

We are also offering a complimentary 12-month Carina subscription to help you recover and maximize your future trading potential. We appreciate your understanding and patience and hope for your continued support.

We ask that you refrain from spreading misinformation, as it only creates unnecessary confusion and hinders our efforts to address and fix the issue. Our team is dedicated to transparency, improvement, and ensuring the best possible service for our users.

Sincerely,

CarinaBot Team

Reply from CarinaBot

Updated Jul 22, 2024

CarinaBot's latest update, v1.7.1, was installed on July 14. Initial tests and subsequent trading under normal market conditions showed no issues for the first two days. On July 16, the EURUSD market experienced high volatility with a sharp price drop. This volatility critically impacted Carina's performance. Under normal conditions, Carina selects the most viable trading signal. Unfortunately, v1.7.1 altered this behavior and instead of selecting one signal, Carina executed all four detected signals and opened four trades in a very short period. Each trade was opened with progressively increased leverage and risk, deviating from the bot’s typical risk management behavior.
This compounding of high leverage and multiple consecutive trades against a rapidly falling market led to significant losses, particularly with the third and fourth trades. We deeply regret this and the distress it caused. Upon discovering the issue, we immediately took down version 1.7.1 and reverted to the older version 1.6.0.

We are working on solutions to prevent such incidents from happening again. We recommend stopping the use of the bot for a few days and reconsidering its use.

Please keep in mind that CarinaBot is a highly risky tool for automated speculative trading with unpredictable results:

Term of Use 4.2: When using the Application, you may encounter numerous unpredictable and/or unexpected events that can significantly impact your trading results, including potential profits and/or losses. These events may include, but are not limited to, software errors, bugs, or mistakes (whether in the Application or otherwise), market volatility, reduced market liquidity, accidents, power outages, operational disruptions, internet connection failures, a series of losing trades, or failures in the Application or other software or hardware. These factors, many of which are beyond your control, could lead to substantial losses, potentially including the total loss of your trading capital. By using the Application, you acknowledge and accept all these risks, agreeing to bear them at your own expense and liability. If you do not accept these risks, you are NOT authorized to use the Application.

Regarding our loss, we too have suffered significantly. Your statement that our loss is "only 39%" is incorrect. Our trading losses have critically damaged the amount of funds in our trading account. We have been trading for a long time and we make withdrawals of profits once or twice a year. Of course that you cannot lose the profits you withdrew one year ago. You need to regularly withdraw your profits to secure your capital. We always recommend the same practice to all users. It helps you reduce your risks and losses in cases of bad trades:

Terms of Use 4.11: We highly advise you to regularly withdraw your profits. Although it's possible to leave your funds invested in your trading Account to accumulate more profit, we strongly discourage this practice. The Application can cause substantial losses at any time, potentially wiping out your entire trading capital. Therefore, it is strongly recommended to withdraw your capital regularly to safeguard both your initial capital and the profits you've earned. Avoid leaving your capital in your trading Account for extended periods.

The new update, version 1.8.0, should be available this week, it should bring significant improvements and we hope the same problem will not recur. Your Carina app will be updated automatically without any action required from your end.

Reply from CarinaBot

Jul 20, 2024

Tommy,

This situation is really tough for us. If you were an iOS app programmer and made a bug in a kids' game, it wouldn't be such a big deal – you’d just release a patch and problem solved. But sometimes, mistakes can cause big problems. This week has been rough for a lot of programmers, not just us. Microsoft made an error last Friday with one of their updates, and now many planes are grounded, airports don’t work, ATMs don’t work. So yes, for some software programmers, making a mistake is a really big deal and can cause incredibly huge stress, more than most people can even imagine.

We’re not only dealing with our personal trading losses, but our bot, which was doing relatively okay, now looks like it was programmed by absolute amateurs. This has seriously hurt our reputation. We decided that we should repay back the very last Carina fees which users paid us for using our bot, and this is another significant loss for our pockets. Moreover, we promised to provide 12-month subscription for free to all users who were trading that day, which is another significant loss for us again.

We are of course worried of possible mistakes our bot can have or make, bugs, overlooked issues, and not thoroughly tested updates. But we accept these risks. After days of feeling absolutely down, we see that we have what we have, and we can't change yesterday, but we can do our best to make tomorrow better and learn from our mistakes.

That’s our plan with v1.8.0: We’re modifying Carina’s trading algorithms so the bot can take more potential trading opportunities (react to more signals) and potentially make more trades each month, which could boost the overall monthly performance in the long run. Carina will be doing more trades and using a bit more margin to squeeze more profit from each trade, and we hope that this will help us recover faster.

When we trade with our bot, we accept the risk and know that nothing is guaranteed. Markets are unpredictable, and trading is speculative. We were really not ready to repay all the Carina fees we earned in the last 3 months and give up on these fees for another 12 months. We know that this step is purely voluntary, and we appreciate that you understand that, but the fact is that it's another large financial loss for us. But it is what it is, and we have what we have.

Thank you
Team CarinaBot

Reply from CarinaBot

Jul 20, 2024

Hello Matthew,

We understand the frustration and disappointment due to the unexpected performance issues with CarinaBot v1.7.1 on July 16th, and we sincerely apologize for the distress this caused. Initially, the bot aimed to maximize profits, which worked with the first two trades. Unfortunately, increased market volatility led to significant losses in subsequent trades.

A critical bug in version 1.7.1 caused the robot to behave unpredictably during heightened market volatility on the EURUSD pair, leading to larger-than-expected trades and resulting losses. This was unintended, and we took immediate action by swiftly reverting back to the stable version 1.6.0 to prevent further issues.

Regarding automatic updates: Our Terms of Use clearly state that CarinaBot is continuously improved, optimized, and updated to maintain optimal performance. These updates are essential for the functionality and maintenance of the robot. It’s important to clarify that you were fully aware of these terms and agreed to them, otherwise you would not have been able to start the bot.

We install updates automatically. Coordinating approval from all users is logistically impossible. For example, if even one user fails to respond (or didn't even open the email where we asked for approval for a new update installation), it would block the update process for absolutely everyone. This became very evident when we recently needed to revert swiftly to version 1.6.0 without asking for anyone’s approval. We found a problem with v1.7.1 and needed to fix it quickly and install v1.6.0 as soon as possible. Waiting for individual approvals from users would mean that fixing this issue would take us days, or weeks. What you suggest—that we should consult every single user for approval every time immediate action is necessary—is absolutely impossible, and we do not allow users to dictate us such terms. It’s our robot, and our terms, and you agreed to our terms. If you require being consulted before each update, please find another robot. We do not agree with you dictating us your terms.

Regarding your allegation of CarinaBot collaborating with brokers, this is an absolute nonsense. We developed CarinaBot for ourselves, for our use, and our trading needs, not for you. We chose the brokers and technology that suit our development needs and preferences. We are willing to share our robot with users who want to use it and respect our terms, but we do not allow foreign individuals to dictate how we should change, modify, or develop our own property, which programming language to use, or which API of which broker or provider to use. We are making our robot for us, not for you. You have the absolute freedom to create your own robot, tailored to your preferences and needs. You don’t need to use ours if you don’t like how it works.

We regret the poor performance that CarinaBot exhibited on July 16th. We suffered heavy trading losses ourselves as well. The combination of the problematic version 1.7.1 with a series of mixed, contradictory trading signals and increased volatility led to serious mistakes, miscalculations within the bot’s algorithms, and poor performance. However, we assure everyone interested in using our robot that we have identified these issues and are working on solutions to fix them and prevent such problems from happening again. Version v1.8.0, which will be released and installed next week, will contain several important improvements, bug-fixes, and an additional kill-switch mechanism to prevent Carina from trading in such a problematic style as it did on July 16th.

Once again, we remind you that CarinaBot is a tool for speculative trading, and speculative trading inherently always carries risk. We clearly inform all users of this nature, and if you are uncomfortable with such risks, then please do not use our robot.

Thank you for your understanding.
Team CarinaBot

Reply from CarinaBot

Jul 19, 2024

No, Carina is not a Ponzi. Carina is a speculative risky automated trading robot. Speculation is a form of trading, and all trading involves speculation on unpredictable price movements, which always carry an element of risk.

The robot made some bad trades, which is regrettable, and we’re sorry for that. However, trading by its nature involves risk, and we are always very transparent about this.

For more details, please refer to Section 4, 'Risk Warning,' in the Terms of Use. If the risks involved are too uncomfortable for you, you're not obligated to start using or to continue using the robot.

To minimize risk, you should always withdraw your profits on a regular basis. This helps you stay better protected from turbulent days and recover more quickly.

Next week, we are planning to release version 1.8.0, which promises significant improvements. 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 are offering a complimentary 12-month Carina subscription to help you recover and maximize your future trading potential. We appreciate your understanding and patience and hope for your continued support.

We ask that you refrain from spreading misinformation, as it only creates unnecessary confusion and hinders our efforts to address the issue effectively. Our team is dedicated to transparency, improvement, and ensuring the best possible service for our users.

Sincerely,

CarinaBot Team

Reply from CarinaBot

Jul 19, 2024

Like many others who program their own trading robots, we fully understand that algorithmic trading is inherently risky. Anything can happen at any time. We know that our bot might have bugs, errors, or other issues that we may not immediately detect. We also understand that market behaviour and price movements are unpredictable and speculative. However, we are willing to accept these risks ourselves. They are our decisions, our losses, and our challenges to face. Our risk, our loss, our pain.

It's important to clarify a key point: while we fully accept the risks associated with our trading decisions, we do not assume responsibility for the risks that others choose to take. We are simply not interested and not okay with other people deciding to risk their own money, but at our cost.

Using CarinaBot, like any auto-trading robot, involves inherent risks. We are prepared to accept our own risks, but we are not willing to take on the risks associated with the decisions of others. If you choose to engage in risky trading, those decisions and their consequences are yours alone. If you are not comfortable with these risks, we respectfully request that you do not transfer your risks and responsibilities to us and refrain from using our robot.

We are all adults, and we all make our own decisions. We have chosen to use our robot and to accept the risks associated with it. You are free to make your own decisions as well. However, under no circumstances will we agree to be responsible for the decisions of others. Our decisions mean our risks, our losses, and our pain. If your proposition is that Your decisions = Our risks = Your losses = At our cost, we must inform you that we never did and never will agree with such a proposal, and we strongly recommend that you do not use our robot and create your own. We do not agree with this, and we have made this very clear in the terms of use of our robot.

Please try to understand that we suffer our own losses and face our own challenges. And by themselves, they are already bigger than what we can handle. We don’t even have any extra money to start giving away. Carina has made some good trades in the past many times, some bad trades sometimes too, and unfortunately, really very bad trades as well. But trading is always risky and always speculative, and nobody can guarantee what will happen tomorrow. We have no such guarantee from anyone. We just simply “risk it”. Such an attitude is not suitable for everyone, of course. But we all have our free choices and decisions.

We appreciate your understanding and support.

Thank you.

Team CarinaBot

Reply from CarinaBot

Jul 19, 2024

Dear User,

We are truly sorry for the bad trading results. We understand your disappointment and want to assure you that we have reverted to CarinaBot version v1.6.0. Our team is working day and night to release a new and better version.

Next week, we are planning to release version 1.8.0, which promises significant improvements. 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 are offering a complimentary 12-month Carina subscription to help you recover and maximize your future trading potential. We appreciate your understanding and patience and hope for your continued support.


Sincerely,

CarinaBot Team

Reply from CarinaBot

Jul 19, 2024

Dear User,

We are truly sorry for the bad trading results. We understand your disappointment and want to assure you that we have reverted to CarinaBot version v1.6.0. Our team is working day and night to release a new and better version.

Next week, we are planning to release version 1.8.0, which promises significant improvements. 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 are offering a complimentary 12-month Carina subscription to help you recover and maximize your future trading potential. We appreciate your understanding and patience and hope for your continued support.


Sincerely,

CarinaBot Team

Reply from CarinaBot

Jul 18, 2024

Dear User,

We are truly sorry for the bad trading results. We understand your disappointment and want to assure you that we have reverted to CarinaBot version v1.6.0. Our team is working day and night to release a new and better version.

Next week, we are planning to release version 1.8.0, which promises significant improvements. 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 are offering a complimentary 12-month Carina subscription to help you recover and maximize your future trading potential. We appreciate your understanding and patience and hope for your continued support.


Sincerely,

CarinaBot Team

Reply from CarinaBot

Jul 18, 2024

Dear User,


We understand your frustration. The recent performance of CarinaBot was indeed unfortunate, and we deeply regret the significant losses incurred. However, we want to address and clarify some points.


On the failed bot-behavior, we too suffered substantial losses. Our own account experienced a significant loss of 96%. The recent issues with CarinaBot were caused by a combination of technical glitches and market conditions. On July 16th, the market experienced a sharp drop in EUR/USD, leading to conflicting signals within the bot. This caused an increase in the margin (risk per trade) with each subsequent trade due to high volatility, resulting in an exponential increase in risk. The stop-loss measures were in place, but the stakes were too high for the volatile situation, leading to the substantial losses.


It's important to understand that CarinaBot is not a magic tool. Like any other software, it can make mistakes and encounter bugs. The market can behave unpredictably, and sometimes, despite the best calculations and predictions, things can go wrong. This incident was a result of several factors aligning unfavorably.


Our team is working tirelessly to prevent such occurrences in the future. Next week, we plan to release version 1.8.0 of CarinaBot, which includes significant improvements aimed at boosting profitability, security, and overall performance. This update will be automatically applied to your Carina app. Additionally, we are offering a complimentary 12-month Carina subscription to help you recover and maximize your future trading potential.


CarinaBot is a speculative automated trading system, and speculation always comes with significant risks. We strive to mitigate these risks as much as possible, but we can never entirely eliminate them. The use of CarinaBot is at your own risk, and past performance does not guarantee future results. We urge you to review Section 4, Risk Warning, of our Terms of Use once again, for a better understanding of the risks involved.


We are constantly improving the system, learning from each experience, and implementing measures to prevent similar issues in the future.

We appreciate your understanding and patiencene and hope for your continued support.



Sincerely,

Team CarinaBot

Reply from CarinaBot

Jul 18, 2024

Dear User,

We understand your frustration and deeply regret the losses you’ve incurred. While we strive for precision, no system is perfect. Errors can happen, and the forex market's volatility can make these issues worse.

Looking ahead, we are committed to improving our system. Next week, we plan to release version 1.8.0 of CarinaBot, which includes significant improvements aimed at boosting profitability, security, and overall performance. This update will be automatically applied to your Carina app. Additionally, we are offering a complimentary 12-month Carina subscription to help you recover and maximize your future trading potential.

Forex trading is highly speculative and comes with significant risks. We have always been transparent about these risks, as outlined in Section 4 Risk Warning of our Terms of Use. When you choose to use CarinaBot, it's crucial to understand that you do so at your own risk, aware of the market's unpredictability.

We continuously work on optimizing our bot, and updates are an integral part of this process. These updates are automated to ensure the bot operates at its best.


We appreciate your understanding and patience as we strive to improve. We hope for your continued support.



Best regards,
Team CarinaBot

Reply from CarinaBot

Jul 18, 2024

Dear User, 


We understand the frustration and impact caused by the recent trading issues. While we cannot offer compensation for trading losses, we are committed to helping our users as much as possible. 


Therefore, we are offering to refund the last Carina fee you paid. To receive this refund, please send an email to info@carinabot.com with the subject "CARINA FEE REFUND” and include your USDT trading account number.


Additionally, we can offer you a 12-month subscription for free if you decide to continue using our bot. This is part of our commitment to support our users and rebuild trust.

Regarding updates:
Next week, we are planning to release version 1.8.0, which promises significant improvements. 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.


Thank you for your understanding.


Best regards, 

Team CarinaBot

Reply from CarinaBot

Jul 18, 2024

Dear User,

We understand your frustration and concerns regarding the recent trades and losses. Here's a detailed explanation:

The recent issues with CarinaBot were not due to intentional actions or negligence but rather a series of unfortunate coincidences and technical glitches. On July 16th, the market experienced a sharp drop in EUR/USD, which caused CarinaBot to detect four separate and conflicting entry points. This led to mixed signals about which trades to open, their amount, and their direction.


CarinaBot’s algorithm which decides how much to risk (risk-management) is dynamic, and has no static values. The bot evaluates each trade opportunity and then guess what’s the best trading amount to use. However, during this incident, the algorithm mistakenly increased the margin (the risk per trade) with each subsequent trade due to high volatility and series of consequent trades, which confused Carina’s risk algorithms. This resulted in an exponential increase in risk, spiraling out of control.


The stop-loss measures were in place, and all trades were protected by stop-loss price limits. The issue was not the absence of stop-loss but the relatively large stakes used in the third and fourth trades. These trades were too risky given the high volatility, and when they hit their stop-loss limits, they were closed at a loss. And the market volatility on EURUSD was making the situation even worse.


We deeply regret the loss you experienced. Our own account suffered a significant loss too. We understand the gravity of the situation and are working tirelessly to prevent such issues from happening again. 



Please rest assured that CarinaBot VPS v1.7.1 is no longer in production. We have reverted to v1.6.0, which should make more conservative trades. However, we must remind you that even with stable and well-tested v1.6.0, we still cannot guarantee any specific outcomes or provide assurances of lower risk. CarinaBot is, always was, and always will be a speculative automated trading strategy, and speculation always comes with significant risk, which we can never eliminate. The use of CarinaBot is at your own risk, and past performance does not guarantee future results. The use of this software can cause significant losses, and we are unable to eliminate this risk entirely, no matter how hard we try. CarinaBot comes with no guarantees whatsoever. For more information, please refer to Section 4, Risk Warning, of the Terms of Use.


Thank you for your understanding and patience and we hope for your continued support of our robot. 



Team 

CarinaBot

Reply from CarinaBot

Jul 18, 2024

Dear User

We understand your frustration and deeply regret the losses you've experienced. However, we want to assure you that CarinaBot is not a scam. CarinaBot does not have access to your funds; it operates based on algorithms and market conditions to execute trades on your behalf.

CarinaBot is an experimental machine learning system designed to learn and evolve. Unfortunately, with the latest version 1.7.1, we encountered unexpected issues. A combination of high market volatility and risk-management calculation errors led to substantial losses. These were not intentional actions but rather a result of the bot's codes and unforeseen market conditions.

For transparency, our own account suffered a significant loss of 96%, amounting to $217,632. Despite previous profits, this incident highlights the inherent risks of trading. We always advise users to regularly withdraw profits to mitigate potential losses, a practice that can help minimize the impact of any single bad trading day.

We are thoroughly investigating these issues to prevent future occurrences and are working diligently to improve the algorithm to enhance stability and profitability. However, implementing changes carries its own risks, and we are carefully considering our options to avoid further destabilization of the bot and its trading strategy.

We appreciate your patience and understanding as we work towards resolving these issues. Please remember that trading always carries a high risks of significant losses, and we urge you to review the Section 4. Risk Warning of our Terms of Use before you decide to continue using our robot.

Team
CarinaBot

Reply from CarinaBot

Jul 17, 2024

Dear Traders,

As you may have noticed, during yesterday's trading session on EUR/USD, the US Retail Sales news triggered a significant decline in the EUR/USD price chart, resulting in a rapid and substantial drop (see screenshot: https://www.carinabot.com/screenshots/screenshot2.jpg). Unfortunately, Carina executed a series of four trades, two of which resulted in significant losses.

We have been investigating the causes of these trades and are working on modifying Carina's trading algorithms to prevent such occurrences in the future.

Historically, many traders have requested that we adjust Carina's risk strategy and increase the risk of the bot to increase the potential profits. We regularly update our bot, impacting its trading strategy, decision-making algorithms, and overall performance. Most recently, on July 14, Carina VPS was updated to version v1.7.1.

Trading often involves an element of luck and risk, and yesterday was particularly unlucky and particularly risky due to a series of unfortunate coincidences. 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 Carina's risk-calculations, 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.

What's next:
We have already reverted to CarinaBot version v1.6.0. We apologize for the risky calculations that occurred during yesterday's trading session and the EUR/USD decline during the news announcements. We too have suffered losses from these trades, and we understand the disappointment this has caused among users. However, we assure you that we continuously strive to enhance the bot's performance through updates and proper testing, although perfection is unattainable.

Moving forward, we will intensify our testing procedures before releasing updates. With the upcoming version v1.8.0, we aim to improve the bot's performance, increase profitability, and reduce risk. However, please remember that trading inherently involves significant risk. Trading with Carina, or any other robot, or manually, trading in general, always comes with a significant risk of losing the capital. Please carefully read the Risk Warning section of our Terms of Use again before deciding to continue using our robot. When you use our bot for trading, it is entirely on your own account and at your own risk. The decision to use the bot is yours alone. We are not responsible for managing your funds or the outcomes of your trades, even when those trades are made while using our bot. Trading remains solely yours, and only your responsibility.

Currently, CarinaBot version 1.6.0 should be displayed in the top-right corner of your bot (please check it). The installation of version v1.8.0 will be automatic, and it will happen in couple of following days. For details on keeping your CarinaBot updated, please refer to our FAQ (Q: How to keep my CarinaBot updated?). Please note that based on our Terms of Use we install updates without prior notice or consent. All updates have always been, and will continue to be, installed automatically without prior notice or consent.

We are committed to making Carina a better tool for trading, but it is essential to recognize the risks involved. We appreciate your understanding and support.

Thank you.

Reply from CarinaBot

Jul 17, 2024

Dear Oleh,

We understand your frustration and deeply regret the losses you've experienced. However, we want to assure you that CarinaBot is not a scam. CarinaBot does not have access to your funds; it operates based on algorithms and market conditions to execute trades on your behalf.

CarinaBot is an experimental machine learning system designed to learn and evolve. Unfortunately, with the latest version 1.7.1, we encountered unexpected issues. A combination of high market volatility and risk-management calculation errors led to substantial losses. These were not intentional actions but rather a result of the bot's codes and unforeseen market conditions.

For transparency, our own account suffered a significant loss of 96%, amounting to $217,632. Despite previous profits, this incident highlights the inherent risks of trading. We always advise users to regularly withdraw profits to mitigate potential losses, a practice that can help minimize the impact of any single bad trading day.

We are thoroughly investigating these issues to prevent future occurrences and are working diligently to improve the algorithm to enhance stability and profitability. However, implementing changes carries its own risks, and we are carefully considering our options to avoid further destabilization of the bot and its trading strategy.

We appreciate your patience and understanding as we work towards resolving these issues. Please remember that trading always carries a high risks of significant losses, and we urge you to review the Section 4. Risk Warning of our Terms of Use before you decide to continue using our robot.

Team
CarinaBot

Reply from CarinaBot

Jul 17, 2024

Dear User,

Your accusations deeply hurt us, especially since we ourselves lost 96% of our capital, amounting to $217,632. CarinaBot has always operated transparently, delivering stable results in the past. No one restricted your ability to withdraw profits, and CarinaBot did not have access to your funds. It was only allowed to execute trades on your behalf based on its market predictions and machine learning algorithms.

Accusing us of stealing your funds is baseless. CarinaBot's purpose is to assist with trading, and while it made a significant error recently, it was not an act of fraud. This mistake affected us just as much as it affected our users.

Imagine you have a reliable, automated sprinkler system that has been watering your garden perfectly for years. One day, due to a software glitch, it turns on during a heavy rainstorm, causing your garden to flood. This unfortunate incident doesn’t mean the sprinkler system or its manufacturer intended harm or committed fraud. It's a failure of the technology, which the manufacturer is now working tirelessly to fix to prevent future incidents.

We admit and sincerely apologize for yesterday's trade. We understand and deeply regret the significant losses it caused, not only for our users but also for ourselves. We are working on fixing these issues to prevent them from happening again. While we cannot turn back time to fix the bug before this bad trade, we are committed to making improvements today and tomorrow.
Our team is working tirelessly to release a new, better, smarter, and more efficient version as soon as possible. All we need is a little bit of time.

Please remember that trading always carries high risks of significant losses, and we urge you to review the Section 4. Risk Warning of our Terms of Use before you decide to continue using our robot. Additionally it was always highly recommended to withdraw profits on regular basis, to be more protected from unforeseen problems.

Thank you for your understanding and patience.
Team CarinaBot

Reply from CarinaBot

Jul 17, 2024

Dear Traders,

As you may have noticed, during yesterday's trading session on EUR/USD, the US Retail Sales news triggered a significant decline in the EUR/USD price chart, resulting in a rapid and substantial drop (see screenshot: https://www.carinabot.com/screenshots/screenshot2.jpg). Unfortunately, Carina executed a series of four trades, two of which resulted in significant losses.

We have been investigating the causes of these trades and are working on modifying Carina's trading algorithms to prevent such occurrences in the future.

Historically, many traders have requested that we adjust Carina's risk strategy and increase the risk of the bot to increase the potential profits. We regularly update our bot, impacting its trading strategy, decision-making algorithms, and overall performance. Most recently, on July 14, Carina VPS was updated to version v1.7.1.

Trading often involves an element of luck and risk, and yesterday was particularly unlucky and particularly risky due to a series of unfortunate coincidences. 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 Carina's risk-calculations, 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.

What's next:
We have already reverted to CarinaBot version v1.6.0. We apologize for the risky calculations that occurred during yesterday's trading session and the EUR/USD decline during the news announcements. We too have suffered losses from these trades, and we understand the disappointment this has caused among users. However, we assure you that we continuously strive to enhance the bot's performance through updates and proper testing, although perfection is unattainable.

Moving forward, we will intensify our testing procedures before releasing updates. With the upcoming version v1.8.0, we aim to improve the bot's performance, increase profitability, and reduce risk. However, please remember that trading inherently involves significant risk. Trading with Carina, or any other robot, or manually, trading in general, always comes with a significant risk of losing the capital. Please carefully read the Risk Warning section of our Terms of Use again before deciding to continue using our robot. When you use our bot for trading, it is entirely on your own account and at your own risk. The decision to use the bot is yours alone. We are not responsible for managing your funds or the outcomes of your trades, even when those trades are made while using our bot. Trading remains solely yours, and only your responsibility.

Currently, CarinaBot version 1.6.0 should be displayed in the top-right corner of your bot (please check it). The installation of version v1.8.0 will be automatic, and it will happen in couple of following days. For details on keeping your CarinaBot updated, please refer to our FAQ (Q: How to keep my CarinaBot updated?). Please note that based on our Terms of Use we install updates without prior notice or consent. All updates have always been, and will continue to be, installed automatically without prior notice or consent.

We are committed to making Carina a better tool for trading, but it is essential to recognize the risks involved. We appreciate your understanding and support.

Thank you.

Reply from CarinaBot

Jul 17, 2024

Dear Traders,

As you may have noticed, during yesterday's trading session on EUR/USD, the US Retail Sales news triggered a significant decline in the EUR/USD price chart, resulting in a rapid and substantial drop (see screenshot: https://www.carinabot.com/screenshots/screenshot2.jpg). Unfortunately, Carina executed a series of four trades, two of which resulted in significant losses.

We have been investigating the causes of these trades and are working on modifying Carina's trading algorithms to prevent such occurrences in the future.

Historically, many traders have requested that we adjust Carina's risk strategy and increase the risk of the bot to increase the potential profits. We regularly update our bot, impacting its trading strategy, decision-making algorithms, and overall performance. Most recently, on July 14, Carina VPS was updated to version v1.7.1.

Trading often involves an element of luck and risk, and yesterday was particularly unlucky and particularly risky due to a series of unfortunate coincidences. 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 Carina's risk-calculations, 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.

What's next:
We have already reverted to CarinaBot version v1.6.0. We apologize for the risky calculations that occurred during yesterday's trading session and the EUR/USD decline during the news announcements. We too have suffered losses from these trades, and we understand the disappointment this has caused among users. However, we assure you that we continuously strive to enhance the bot's performance through updates and proper testing, although perfection is unattainable.

Moving forward, we will intensify our testing procedures before releasing updates. With the upcoming version v1.8.0, we aim to improve the bot's performance, increase profitability, and reduce risk. However, please remember that trading inherently involves significant risk. Trading with Carina, or any other robot, or manually, trading in general, always comes with a significant risk of losing the capital. Please carefully read the Risk Warning section of our Terms of Use again before deciding to continue using our robot. When you use our bot for trading, it is entirely on your own account and at your own risk. The decision to use the bot is yours alone. We are not responsible for managing your funds or the outcomes of your trades, even when those trades are made while using our bot. Trading remains solely yours, and only your responsibility.

Currently, CarinaBot version 1.6.0 should be displayed in the top-right corner of your bot (please check it). The installation of version v1.8.0 will be automatic, and it will happen in couple of following days. For details on keeping your CarinaBot updated, please refer to our FAQ (Q: How to keep my CarinaBot updated?). Please note that based on our Terms of Use we install updates without prior notice or consent. All updates have always been, and will continue to be, installed automatically without prior notice or consent.

We are committed to making Carina a better tool for trading, but it is essential to recognize the risks involved. We appreciate your understanding and support.

Thank you.

Reply from CarinaBot

Jul 17, 2024

Dear Traders,

As you may have noticed, during yesterday's trading session on EUR/USD, the US Retail Sales news triggered a significant decline in the EUR/USD price chart, resulting in a rapid and substantial drop (see screenshot: https://www.carinabot.com/screenshots/screenshot2.jpg). Unfortunately, Carina executed a series of four trades, two of which resulted in significant losses.

We have been investigating the causes of these trades and are working on modifying Carina's trading algorithms to prevent such occurrences in the future.

Historically, many traders have requested that we adjust Carina's risk strategy and increase the risk of the bot to increase the potential profits. We regularly update our bot, impacting its trading strategy, decision-making algorithms, and overall performance. Most recently, on July 14, Carina VPS was updated to version v1.7.1.

Trading often involves an element of luck and risk, and yesterday was particularly unlucky and particularly risky due to a series of unfortunate coincidences. 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 Carina's risk-calculations, 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.

What's next:
We have already reverted to CarinaBot version v1.6.0. We apologize for the risky calculations that occurred during yesterday's trading session and the EUR/USD decline during the news announcements. We too have suffered losses from these trades, and we understand the disappointment this has caused among users. However, we assure you that we continuously strive to enhance the bot's performance through updates and proper testing, although perfection is unattainable.

Moving forward, we will intensify our testing procedures before releasing updates. With the upcoming version v1.8.0, we aim to improve the bot's performance, increase profitability, and reduce risk. However, please remember that trading inherently involves significant risk. Trading with Carina, or any other robot, or manually, trading in general, always comes with a significant risk of losing the capital. Please carefully read the Risk Warning section of our Terms of Use again before deciding to continue using our robot. When you use our bot for trading, it is entirely on your own account and at your own risk. The decision to use the bot is yours alone. We are not responsible for managing your funds or the outcomes of your trades, even when those trades are made while using our bot. Trading remains solely yours, and only your responsibility.

Currently, CarinaBot version 1.6.0 should be displayed in the top-right corner of your bot (please check it). The installation of version v1.8.0 will be automatic, and it will happen in couple of following days. For details on keeping your CarinaBot updated, please refer to our FAQ (Q: How to keep my CarinaBot updated?). Please note that based on our Terms of Use we install updates without prior notice or consent. All updates have always been, and will continue to be, installed automatically without prior notice or consent.

We are committed to making Carina a better tool for trading, but it is essential to recognize the risks involved. We appreciate your understanding and support.

Thank you.