Forex Trading Systems The ultimate forex edge an Unbiased Review

As you know, I regularly review automated trading systems for the forex market but I have recently been asked by a website reader to review the ultimate forex edge trading system. Of course, as my website is called "reviewing everything forex" I am also interested in the review of regular trading systems and signal services so I decided to give this a go and review the ultimate forex edge trading system.

The forex ultimate edge website seemed to be just another cheesy marketing website that attempts to bond with the websites visitor by appealing to his likely current situation. The author first describes how he was broke and desperate (as many are likely to be when entering the website) and then he says that he saw the light and started to profit from forex trading. The story of course, has just no back to it, the trader does not mention the actual name of the company that allegedly gave him the chance to trade a 10 million dollar account or any information on any managed account or account he traded before or after this.

As a matter of fact, this is the most important thing. We have this guy telling us he can walk the walk and trade the forex market profitably but where is the proof ? Where are his account statements with all the profits he has been able to make with his trading system ? If anyone was going to learn a trading system from someone they would want him to show his trading statements right away. Why should you be different ? If he is claiming he can do something then he shouldnt have any hard time proving it if it is actually true. Now if it is, Ill be glad to take a look at the new evidence and redo this review to reflect that, but up until now, its just bunch of made up graphs and blablabla anyone can talk.

Being an account manager or selling a trading system is not supposed to be about being able to talk BS but it is supposed to be about being able to convince people through evidence and logic that your system is able to do something good with their money. Of course, up until now, this website is just a bunch of non sense which I would never consider worth buying.

If you would like to learn about automated trading systems and how there is the possibility to trade profitably with automated trading with real profit and draw down expectations please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed this article !

Diposting oleh Unknown 11.15 0 komentar

Forex Manual Trading Systems Forex Cash Factory an Unbiased Review

A few days ago, a newsletter subscriber asked me if I could review a manual trading system called "forex cash factory". On todays post I will do an analysis about this system taking into account the evidence provided on the products website. I will also give my opinion about its usefulness and how much I think it could help manual traders become long term profitable. Finally, after doing all my analysis I will tell you if I believe this product is worth buying or testing or if it is just another product which is filled with promises but fails to deliver any realistic results.

The website starts with nothing but bold claims about the system being able to "pump" tens of thousands of dollars every week out of the market. After this we see that the forex cash factory website is nothing more than a few thousands words of a guy telling us to buy something just because it can make us rich. The webpage is definitely geared towards people who are new to the forex market and are definitely looking for a way to get money quickly.

The author of the forex cash factory fails to give many important descriptions about his system. There is absolutely no mention of the profit or the risk targets of the system, no mention of the money management used when trading, no mention of the characteristics of the strategy, etc. Why would anyone buy a trading system they know nothing about ? The guy fails to explain if his system relies on scalping, swing trading, long term trading, etc. There is simply almost no information abou tthe actual trading system included on the website. The author could have written the webpage without any product because product description is extremely limited.

There is also absolutely no evidence about the profitability of the system or its ability to even produce one USD on the forex market. The thing I find the strangest is that the guy does mention on his website that the system WAS actually tested on a real account for three years before selling it. Why in the world doesnt this guy show this evidence of profitability if it does exist in reality ? Come on ! Who would refrain from posting such evidence if it is obvious that it would increase sales enormously ? No one would ! The fact remains that until the evidence is not posted, it may as well not exist, there is no reason to believe it does.

Then what about all those testimonials ? I can also sit down and makeup whatever testimonial I want, testimonials do not mean anything, specially when a "testimonial" is just a bunch of text there. All the testimonials could have been written by the author, there is no doubt about that. What you should ask for when looking for a trading system, either manual or automated, is not simply a 2000 long sales page telling you how good your life will be after you make the purchase but solid evidence showing that the system has been profitable in the past and has a high like hood of remaining profitable in the future. Why is this evidence never shown for manual trading systems ? Well, mainly because the systems usually only work for one thing, bringing the author sales profits.

In the light of the total lack of even a general description of the system and the absolute lack of any performance record of the system when there is even mentioning that such a record exists (which means that the author is purposefuly hiding it or making that up) I consider the cash factory manual trading system not worth buying and testing. If you want to know more about trading system and how you too can design and trade your own long term profitable automated systems with realistic profit and risk targets please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

Diposting oleh Unknown 19.30 0 komentar

The Doubleplay Forex Expert Advisor

When I began my quest to find an expert advisor that did well in a broad variety of market conditions I was very confused by the overwhelming amount of expert advisors available. After reading and searching for reviews all across the world wide web I found what appeared to be a good and well recommended expert advisor. Hence, I bought the Doubleplay expert advisor.

The Doubleplay expert advisor is what appears to be a very solid and conservative expert advisor. It fits my trading style, having a 50 pip adjustable stop loss and also a risk management module which makes sure that I never risk more than 5% of my account on each trade.

I have been very satisfied with this ea. It has traded as promised and has delivered some profit throughout the three months I have been using it for. I have obtained about 40% profit, which hits a quiet high profit/loss ratio. Support has also been absolutely wonderful, every doubt or support question I have had has been answered promptly by Hal, who is the eas creator.

As much as I like this expert advisor, bear in mind it is NOT a way to get rich quickly. If you ask me I would say that this expert advisor is a PROFITABLE expert advisor, but I would never expect more than 10% a month in ANY case. This was proved by this ea having almost doubled my account along the beginning of October and giving more than half back just a few weeks later.

I have complete faith in Hals commitment to the Doubleplay project, with no doubts in my mind that his main goal is to be successful as we are, not to deceive his customers in anyway. Doubleplay also has a money back guarantee if you have two consecutive months of losses using the ea.

This ea is one of the few I do personally RECOMMEND with no ties whatsoever, neither as an affiliate or as a personal friend of the eas creator. This ea would fit great as a conservative addition to our ea trading package.

This expert advisor can be found here.

Diposting oleh Unknown 09.46 0 komentar

Forex Expert Advisors Forex Espionage Unbiased Review

A few days ago I received an email talking about the forex espionage expert advisor. Of course, the purpose of all these emails I get is to make me click through the affiliate links and buy the expert advisors. What I do most of the time is review the products instead so that people can know my opinion about most new expert advisors (I try to review as many as my time schedule allows me to). If you have read many of my reviews the truth is that I very rarely consider an expert advisor worth buying.

Well, I must confess that the forex espionage expert advisor is really not the exception. I can see the marketing all over it like on most commercial expert advisors out there. The website greets you with a video of a guy who obviousy treats you like you dont know a thing about forex trading or automated trading systems. The video and the website features many claims about profits, backtesting and as always the promise to free you from your 9 to 5 job.

Ok, so what is the validity of their claims ? They have many problems to start with. First, most of their claims are based on backtesting statements which we know are done with the benefit of hindsight so absolutely no validity there. They also show us some very limited "live" testing information which has no live account investor access and is truly excesively limited to pass any judgement about the expert advisor. If you are a commercial expert advisor seller or an expert advisor reviewer that lives from the affiliate links please have this in mind : dont treat your customers like their retarded !

The forex espionage expert advisors seems to be your average commercial expert advisor that aims at trading many times per day with several short term wins and incredible backtesting results but fails to work in the long term (the only thing that grows in the long term is the number of wiped accounts). The creators never mention the problems associated with backtesting and limited live testing results. They just want to convince you to use something even if there is no evidence that the system works in the long run and there is also no evidence that the live testings shown are actually real. Again, we need live accounts with investor access to believe the claims of ANY commercial expert adviosr seller.

In summary, not only do I find the forex espionage expert advisor NOT worth buying, I also consider their website misleading and offensive to the intelligence of any potential customer. Expert advisor sellers not only should show more realiable testing, they should also struggle to explain every possible mistake within the tests they are doing.

If you would like to learn more about how to evaluate and choose expert advisor as well as about other expert advisors I have traded and reviewed please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

Diposting oleh Unknown 01.31 0 komentar

A Proven Profitable Forex Expert Advisor

Ok, this is what all of you have always been looking for and probably the reason why you entered my website. You are looking for a proven, profitable expert advisor that you can trust and trade in your live account with the most minimal risk of large equity draw downs.

With all due respect : You are delusional.

Lets start with the facts. What do you mean by proven ? Someone has made money with it ? Someone has been making money with it for an x amount of time ? Many have made money ? It has made money on different brokers ? As you can see, the answer to this question is very difficult by itself. I will now make something clear to you which you may have already suspected and which may seem a little bit hard to read : There is no such thing as a proven system in the forex market and there is no such thing as a low risk expert advisor.

Yes, thats right. There is no such thing. This happens by definition, because the forex market is dynamic, ever changing and unpredictable in nature. Hence, it is what you would call a high risk market. It is high risk because (you guessed right) the risk of losing capital is very high ! And this cannot be avoided by using an automated trading system. There is no such thing as a low risk opportunity in a high risk market. If you expect to make money consistently, for years, in the forex market, using automated systems, without high risk, please choose another investment vehicle. Perhaps something less risky, like T bonds, would better fit your risk profile.

Does this mean that evaluating expert advisors is meaningless ? No. By testing expert advisors in live and demo accounts we can get an idea of how they work, under what circumstances they work, what consistent profit and expected draw downs we might get. This is because even though the forex market is unpredictable, it can be statistically studied. We cannot tell what will exactly happen, but we can estimate the probabilities and this is one of the things that tells a profitable trader apart from a failing one.

Lets say for example that certain automated trading system gets a 4% profit from 2005 to 2008 in live testing. We can look at overall market conditions and the past 60 years of market history and tell if they are likely to change, to what and what the probability of working would be if said conditions would change. Was the market in an uptrend ? Downtrend ? going sideways ? What was the volatility ? In essence, the longer an ea works, the more robust it it, that is, the more change in market conditions it can withstand. However, if market conditions were to change to something that did not happen for the last x years the ea was tested on, then it can fail.

This is were that disclaimer we have all read comes into play "past perfomance does NOT guarantee future results". Read it about a hundred times.

What is our defense against this ? Have more than one expert advisor, have a portfolio and have them on separate accounts, if all of them have been tested and are robust, when one fails, the most probable thing is that the other will not and vice versa. You need to diversify in automated trading because the systems have limited visibility, they cannot overcome big changes in market conditions due to their rather inflexible nature. Will every tested ea ever programmed have a period in which it will wipe an account ? The answer is, probably yes.

If you would be interested in learning a little bit more about my opinions, criteria and what expert advisors I have tested and consider worth trading please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !

Diposting oleh Unknown 15.45 0 komentar