Hello dear Trader,
We are sorry that our bot is not perfect and makes mistakes. However hard we try to improve it, we will never be able to eliminate all risks completely. Automated forex trading always comes with risk (see Section 4 Risk Warning of our Terms of Use, and disclosures on our website).
Carina is still an experimental machine learning system. It learns and continuously changes over time. And this time, it made a serious mistake. Version 1.7.1 was definitely unstable and had some problems, bugs, or errors that we were not aware of. Based on the data we have now (which we are still studying), it seems like a combination of several factors caused the issue. High volatility in EURUSD at the time, along with a series of trades opened within a short session, led to a mistake in the bot, causing it to exponentially increase the trading amount with each subsequent trade.
We're currently considering modifying the trading algorithm to enhance profitability and recover losses quickly. However, implementing such changes carries significant risk and could potentially destabilize the bot. We're facing a challenging decision as we explore various options to boost performance without compromising stability or increasing risk unnecessarily. At this moment, we don't have a specific plan but are diligently researching and working on potential solutions.
A the moment, we need some time, we experienced significant losses today as well, and we are really busy with work at the moment. We need some space and time to figure out the next plan. We'll keep you updated once we have any news.
When deciding whether to keep using CarinaBot or not, please keep in mind that it’s an automated trading robot. It was, it is, and it always will come with a significant risk. Trading is always risky. Please read Section 4 Risk Warning of the Terms of Use.
Thank you for understanding.
CarinaBot Team