Expert Advisors The neighborhood full of loose dogs

When I think of the forex automated trading market right now and the way in which it has worked for the past couple of years one analogy always comes to mind. I tend to imagine this expert advisor market as a neighborhood full of loose mean dogs in which you are alone and trying to get across. I think that this perfectly portrays the confusion, misinformation, exploitation of ignorance, unethical behavior and other "properties" of this forex automated trading world.

Why is this market so uncontrolled ? Why is this happening ? For me it is pretty obvious, large sums of money are involved and whenever large sums of money are involved it doesnt take long for the predators of our race to go against their "prey", that is, retail traders who have just begun and are just desperate or wishing to earn financial independence. These people will go to great lengths to deprive everyone of their hard earned money. People will give their money willingly because they dont know any better and they trust the people that lie to them to be honest. The more and more I spend time roaming around this smelly market, the more I realize how people are tricked and how low and dishonest these marketing tactics the use are.

For me there is just one solution to this problem, which is summed up in a single word : regulation. The expert advisor market is in desperate need of some kind of regulation of what can and cannot be sold. People would argue against this since people are free to buy whatever they want and everyone is allowed to sell whatever they want. That is true, but to lie bluntly in order to sell something is an entirely different matter. This EA creators sell you an expert they say can "triple you account every month", "turn x into 100x" and they say this systems have been "battlefield tested", "proved", etc, without any actual conclusive evidence to backup their claims. I did not go to law school but I do consider that tellings lies to sell people things is immoral and should be punishable by law. Specially if it causes these people to lose their money because of their purchase.

My request is simple, have a necessary degree of proof for each claim established so that they are forced to show some realistic, convincing proof of anything they want to claim. It is not that hard, I am just asking for these people to show us the truth, plain and simple. Of course, this will only become true if people gain knowledge and start to demand this in a massive fashion, in no other way will the expert advisor sellers listen. Mainly because most of them cannot backup any of their claims (as you see within my reviews). Sadly, as with the informmercial market, this is likely never going to happen because most people that enter this market are ignorant about this situation and ignorance my friends, turns people into blind men driving.

If you would like to know more about what I have learned about this market, how you can evaluate experts and their proof, build, test and program your own systems and start trading the forex market profitably using automated trading systems 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 01.15 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

Forex Expert Advisors Forex Ripper an Unbiased Review

During this weeks search for new trading systems I came across the forex ripper expert advisor. On todays post I will write a review about this automated trading system focusing on the evidence provided by the author as well as the claims made on the website. I am going to analyze all the information and then give you my unbiased, honest opinion about this experts long term profitability and if it is or it is not worth buying and testing.

Wow, I have to say that I have read many made up stories in my life but the story given by the author of forex ripper really has a lot of imagination going on. It has the classic "I was ruined" with an "I am a pro" twist coupled with the appearance of this mysterious "ripper" guy from wall street who could "magically" turn a trading system into an ATM. Of course, the story puts up a lot of information which makes us doubt its truthfulness and even more, it makes us doubt the origins and actual worthiness of the trading system.

Why ? Mainly because the author of forex ripper does say that they were able to use the system successfully but no prove is given of live trading performance. This is another guy thinking that the people who buy trading systems are stupid. This person shows some pictures of trades which for all we know could have been hand picked and executed on a demo account with no additional information of profitability. I would ask this person, if the story is actually true, to show us ALL the live statements with investor access of the trading accounts he had when he started running the EA which should be months ago by now. The author of forex ripper definitely talks a lot but he shows no evidence to truly backup the claims made.

What do we have then ? We have a website with a story of a guy claiming a trading system is the best ever made (for a change !) with some partially blurred pictures of trading statements with no third party verified live statements or simulations to hint us about the long term performance or trading tactics of this system. From what I see I would guess that the author of forex ripper is just a programmer who came up with an expert advisor, then made a marketing pitch for it and put it up with a bunch of blurred pictures of hand-picked trades from a demo account to show "proof" of profitability.

This trading system is definitely miles away from proving profitability and even more, thousands of miles away from proving that the system has the slightest likehood of being long term profitable. If the author uploads the live statements (with investor access) of the accounts the EA has been trading in (according to the story) and also gives us 10 year backtests with a period in common with the live testing to check for back/live testing consistency, then and only then, will I redo this review to reflect this additional information. Meanwhile, this website is NOTHING but HYPE and I therefore consider this trading system NOT worth buying or testing.

If you would like to learn more about the automated trading systems I have developed and how knowledge and hard work are the key to long term profitability in automated trading please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

Diposting oleh Unknown 06.30 0 komentar

Forex Expert Advisors Forex Illusion an Unbiased Review

Going on with my review of recently released automated trading systems today I will be analyzing the Forex Illusion trading system. This expert advisor promises you will "beat the dealer" and achieve long term profitability in the forex market even if you dont have any previous forex trading experience or if you have "battled with forex" for a long time. On the following paragraphs I will go through this trading systems website, I will talk about the evidence provided by the author and I will tell you if this evidence is reliable enough to backup the claims of profitability made by the author. After doing this analysis and looking at the systems trading tactics I will then tell you my opinion about whether or not this trading system is worth buying and testing.

The Forex Illusions system website is actually quite odd since it lacks any of the usual "letter type" structure the general expert advisor selling websites have. The only thing you see when you access the website is a video that tells you the general "underdog story" and shows you the evidence of profitability available and the claims made by the author. The video is obviously targeted at forex newbies, as the author tries to sympathize with them, telling a story of how he "bit the brokers" and achieved millions of dollars in forex trading. The story tells us how the guy went from being a mail man to a millionaire.

Truth be told, this trading system just falls short on almost every aspect. The evidence of "live trading" that the author shows is nothing but a visual backtest of a period of just a few months which tells us absolutely nothing about this trading system. It is amazing that anyone tries to sell a trading system on such a small and just worthless piece of evidence. What does a few minutes of visual backtesting tell us ? Nothing ! Where are the full 10 year backtesting statements showing us the long term profit and draw down targets ? Where are the LIVE investor access verified accounts ? where is REAL proof of profitability ?

Again, another person attempts to exploit the new trader by making up a story, doing a visual backtesting of a strategy and pretending to have turned into a forex millionaire. If half of this guys story was actually true, he would have showed a LOT more evidence. This is an obvious lie, if all of this was true you would be looking at the guys personal trading statements or you would already have a live trading account with at least a few months of trading showing you investor-access verified results.

This is just a bold attempt to sell you something that is worthless with absolutely no reliable evidence of long term profitability through a story you might empathize with. I think it is pathetic and I think that anyone who has any respect for the intelligence of their customers would have made the effort to open up live accounts, give investor access information and run 10 year backtests. Because of the incredible lack of evidence I consider this expert advisor absolutely NOT worth buying or testing.

If you would like to learn more about automated trading and how you can develop your own likely long term profitable systems with sound and realistic profit and risk targets please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

Diposting oleh Unknown 20.45 0 komentar

How to setup install an expert advisor in MT4

Many people who are new to automated forex trading are puzzled by installation issues regarding the expert advisors for the metatrader platform. This easy to follow graphical guide will show you the simple steps necessary to setup an expert advisor for the metatrader 4 platform.

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1. Download your expert advisor file and indicators (if the ea needs any custom ones). These are either ex4 or mq4 format files, depending on if they are a source or a binary (precompiled file). There is no difference between these two classes as far as installation and usage goes.
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2. Copy your expert advisor files and indicator files to the corresponding directories. As it is shown in the following picture. Keep in mind that this directories are located under your metatrader installation path and that metatrader should not be running at this point.
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3. You should now open up metatrader. Open up a chart with the timefrime and currency pair in which you want to run the advisor. Now simply drag and drop the expert advisor from the navigator window as shown in the next picture.
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4. Now you need to check the live trading dialogue and change any settings you would like to modify on the expert advisor, as it shown. Also remember to click on the expert advisor button on the upper section of the program to allow trading.
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5. Now you should check that the expert is running. A happy face should show up in the top right corner of the chart you chose. If you see an x or a happy face it means you neglected to perform the last step (or didnt perform it correctly).
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Happy trading !

Diposting oleh Unknown 01.33 0 komentar

Forex Expert Advisors Black Swan an Unbiased Review

Today I am going to fulfill another review request and talk to you a little bit about a forex automated trading system called black swan. Todays post will focus on the review of this expert advisor mainly by evaluating the evidence provided on the website and the claims made by the authors. By analysing the experts statements and the information provided I will also tell you my opinion about the long term profitability of this trading system and whether or not I it worth buying or not.

By first looking at the website, you will see that the black swan expert advisor seems to offer a novel approach to automated trading by offering its customers a "web bot" technology which is supposed to search on the internet data from many sources to make accurate trading decisions. The people at forex black swan claim that with this technology you will be able to achieve very large profits which will give you "financial freedom" and the ability have the life style you "always wanted".

Is there any merit in the experts techniques ? Is there anything true about this "web bot" technology ? There are several things I do not understand. If the EA uses a web bot system which dynamically searches the internet then how did they manage to do the backtest from Jan to Nov 2009, how did the webot technology "backtest" on the metatrader 4 strategy tester ? this just does not add up. If the expert really used such an innovative technology it is very likely that it could only be evaluated by live testing. But well, regardless of the fact that this technology does or does not exist, what does the backtest tell us ?

The backtest shown on the black swan website has many inherent problems. To start, the period is very small. Why didnt they do backtests from 2000 to 2009 ? Why is the backtest period limited to 2009 ? This are all questions which cannot be easily answered since doing a longer backtest is just easy to do. There is also the problem that the EA takes a small TP, below 20 pips, which means that interpolation errors in the backtest are likely to be a VERY significant portion of profitability, add to that the fact that the EA uses an almost 10:1 risk to reward ratio (you need to win one time for every ten you lose) and a progressive money management system and you arrive to a system which uses very unsound trading techniques with very questionable results.

My opinion from this backtest is that results are definitely going to be very different in live testing. Probably the loses will be far greater than in the backtest and the progressive money management will grow large holes into the account, to the point of a wipeout. Systems with progressive money management (incrementing lot sizes on loses) will ALWAYS wipe accounts, it is not a matter of if, it is simply a matter of when.

Another important matter is the absence of live testing on the black swan website. Why do this people fail to show live trading results if their system is so accurate ? Why didnt they take the time to put up a few live micro accounts to show us the performance of their system under real market conditions under several brokers ? The number of unanswered questions is simply great and there is no good reason why we should put our money where the creators themselves would not.

The complete lack of live testing evidence as well as the lack of any proof of back/live testing consistency, the absence of a 10 year long backtest and the use of progressive money management are the reason why I consider the black swan trading system NOT worth buying or testing. If you however would like to learn more about system that achieve long term profitability and how you can start your profitable venture in forex trading 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 02.00 0 komentar

Forex Expert Advisors Forex Secret Agent an Unbiased Review

Today another expert advisor sees the light and with it another one of my reviews comes out. Within this post I will be talking to you about the recently released Forex Secret Agent trading system. I will talk about the evidence provided by the author and whether or not this evidence backs up the authors claims, I will also talk about the reliability of the evidence and overall, I will give you my opinion about whether or not this trading system will be able to achieve long term profitability. In the end, I will also give you my opinion of whether or not this expert advisor is worth buying and testing. Is the Forex Secret Agent the James Bond of Forex systems ? Can it prove it can deliver massive profits ? Keep reading and find out !

I have to say that the tactic used to sell the Forex Secret Agent seems to be revolutionary in the sense that they are not advertizing the system as an fully automated system but as an "informative" tool which tells people when to enter and when to exit trades. I am very confused by this concept since it seems to me that trading a fully automated system would be much more convenient than having to manually confirm or enter trades when the system signals them.

Of course, the objective would be for the trader to actually confirm that the trade is sound and worth taking but wouldnt this mean that the trader is able to trade for him/herself and doesnt need the system ? If a person is able to determine when it is or it is not worth getting into the market then why would such a person need a signaling system ? If a person doesnt know and wants to follow signals then what criteria does this person have to confirm or deny trades ? In the end I think that the approach doesnt make a lot of sense and I believe that a fully automated system has more relevance when addressing a crowd that doesnt know how to trade but wants to trade from signals. Making the EA request confirmation on every trade or merely provide the information to enter trades seems like an inconvenience for most people.

It is worth noting however that a section of some backtesting results is shown later on the website pointing out that the system is able to trade in a fully automated fashion (at least it would seem from this). Then we have the usual hand-picked results taken from the backtests portrayed as actually live executed results, a very misleading and dishonest tactics which talks about the ethics of the Forex Secret Agents seller. We can also see that the backtesting statements - which are advertized to turn 5 into 200K in a year- have a VERY unfavorable 10:1 risk to reward ratio and a very small average TP meaning that backtests of this system are probably worthless and absolutely OVER estimate profitability. There is also a complete absence of 10 year backtests, something which also makes us doubt the long term profitability of the system although a system with such trading tactic doesnt probably offer reliable backtests anyway.

Then we have also the COMPLETE absence of any investor-access verified live trading results, showing us that the author of this system is not willing to risk his own money trading the Forex Secret Agent. If the author had actually traded the system - as he says he has - then it would be very simple to add that account to myfxbook and show us investor-access verified results. Why arent these results shown ? Because simply the author doesnt believe in his system and probably has never traded it, pointing out that it is much easier to make money in forex selling a system than from trading it.

Overall, the Forex Secret Agent is another over-hyped system with a complete absence of any reliable evidence. The backtesting evidence shown is not validated by live trading results and - more importantly - no verified live testing results are shown. The Forex Secret Agent is just a piece of software with no evidence of profitability and an author unwilling to test the system on his own live accounts. Remember that the burden of proof is on the author, NOT on your live accounts so if anyone should blindly risk their money it definitely shouldnt be you. For all the above reasons, I consider this trading system absolutely NOT worth buying or testing. The author should show at least a 10 year backtest coupled with a 6 month investor-verified live test and a backtest of this same period if he wants me to redo this review.

If you would like to learn more about the world of automated trading and how you can trade with a high like hood of achieving long term success using expert advisors please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

Diposting oleh Unknown 17.30 0 komentar

Forex Expert Advisors Forex Robovore an Unbiased Review

Yesterday an Asirikuy member sent me an email requesting my opinion about a new automated trading system called Forex Robovore. This trading system is interesting since it seems to follow a different line of thought when compared to most of the other automated trading systems available on the internet. On todays review I will focus on the claims made by the author on the Forex Robovores website as well as the validity and support the evidence on the website gives to said claims. In the end I will be able to tell you if what the creator says about the system is supported by the evidence given or if it is simply not the case. With this evidence in mind I will also be able to give you my opinion about the long term profitability of this trading system and whether or not it is worth buying and testing.

First of all, it is clear that the Forex Robovore trading system has a different philosphy when compared with the other systems available online. The Forex Robovore system aims to have a very favorable risk to reward ratio of 1:2 to 1:4, giving us the impression that it was designed to take advantage of trend following moves. The trading systems sale page even includes a report which tells you why expert advisor scalpers are bound to fail in the long run in forex trading. I must say that I appreciate the fact that the creator of Forex Robovore is taking the time to explain that his system uses a different logic, it is also worth noting that the expert uses sound risk management in the sense that only a small percentage of capital is risked per trade.

However these are just words. The important thing is to know if the creator of the Forex Robovore trading system is able to show evidence to substantiate his claims. This is when we start to see the many holes in the evidence provided and how this trading system does not stand in a better place than most of the "other expert advisors" it so strongly talks about. First of all, we find that there are NO ten year backtesting results, showing us that the creator fails to carry out this readily available and easy to perform simulations. On the other hand, the creator says that backtesting can be done by downloading data from the metaquotes server. Therefore it is obvious that the author knows that these backtests can be carried out but yet FAILS to show these backtests on his website. Why ? The most common reason for this is the LACK of long term profitability of the trading system, the lack of profitable 10 year simulations.

Moreover, unverified live testing results of about 4 months are shown as evidence of profitability. I would have to say that four months are a rather small period of time to show as the only available evidence. It is also worth noting that the live results are UNVERIFIED and can be forged. It is VITAL to have live testing results which are confirmed by INVESTOR ACCESS to the trading account. The author says on the FAQ that you can tell a real live test by the configuration of the html file but this is WRONG, this CAN BE FORGED and investor access is the ONLY way to verify that a live trading record is REAL. Why isnt investor access given ? Are accounts not live but demo accounts ? Have the results been manipulated ? I see no other reason why an EA creator would refuse to post results on myfxbook which can independently and reliably verify investor access and trading privileges.

Overall it is sad to say that although the intentions of the Forex Robovore system creator seem to be to create a system with sound money management and trading strategies the trading system is not able to walk the walk. It seems that the website merely uses this "difference" with other trading systems as a marketing pitch without any evidence of the system truly being long term profitable. Because of the complete lack of 10 year backtests and the absence of verification of the live trading results I have to say that the Forex Robovore trading system is NOT able to backup its claims and it is therefore NOT worth buying or testing. If the creator of this trading system provides 10 year backtests with live/back testing consistency tests with the current period of live testing, as well as live account verification through investor access, I will be more than happy to redo this review.

If you would like to know more about what I have learned about automated trading systems and how you too can design and develop trading systems to trade profitably in the forex market please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

Diposting oleh Unknown 07.46 0 komentar

Forex Expert Advisors Forex Cyclone an unbiased review

As for the past two weeks, today Ill continue to focus on the review of another automated trading system. Todays post will be dedicated to the review of the forex cyclone expert advisor which was suggested to me by a customer who had previously purchased my automated trading ebook. As always, this review is written based on the evidence provided by the expert advisor creator and is no way biased as I get no reward of any kind for giving the EA either positive or negative feedback.

The website starts with a very bold claim from the authors saying he has "reeled in 986,928.17" USD from the forex market. Now, this guy seriously has to be jocking. I am pretty impressed as how naive and ignorant this expert advisor sellers think their customers really are to put such bold claims first thing in a webpage and thinking theyll just swallow the whole thing. The sellers makes this claims based in the fact that he has a year long backtesting results that shows these results. This is definitely not a valid proof on income ! This guy is actually lying to everybodys face as he did not "reel in" all those profits, he just happened to have a backtest with those numbers which is VERY DIFFERENT than an account with that money inside. These claims are just unproven and are in fact a very good example of how unethical expert advisor sellers can be in the forex automated trading market.

Now, as far as the backtesting statements go and their reliability I would have to say that from the TP and SL values I could say that the one minute interpolation errors should be small, however, the EA could still be trading with inside bar data which could make real live results differ from backtesting results considerably. But ok, the system seems to perform alright from 2007 to 2009 and I believe that backtesting could overestimate profits (a lot) and underestimate loses (a lot too) but the overall picture seems credible.

The real problem comes in when we consider the length of the backtest and the lack of live testing. First, we dont have any idea of why the creator did not backtest his system from 1999 if the system is so profitable and we also dont know why he does not have any live or forward testing statements if he really believes his or her system to be as profitable. I would have to say that these things are always what makes me extremely suspecious about a trading system. If the author fails to provide testing information which would be obviously provided for a profitable trading system, then it is obviously because said information does not help his outrageous claims.

This expert is considered of course, not worth buying and the author would have to provide us longer backtests and live testing information so that we can ensure that there is back live testing consistency and that the EA can actually be long term profitable. Also, a check of the word "proven" in the dictionary wouldnt hurt.

If you would like to learn more about my opinions about the reality of automated trading and how you can also me profitable with automated trading systems 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 12.32 0 komentar

Forex Expert Advisors and Market Volatility Gods Gift

On an earlier post I had described the use of the ATR indicator as a means to control the stop loss and take profit values of forex expert advisors. I became very aware of this fact yesterday when I started to back test and optimize the Gods Gift expert advisor using its regular stop loss, take profit and trailing stop features.

I realized that the expert advisor made profits consistently using fixed stop loss and take profit values but starts to fail to do so at mid-late 2008. In forward testing this was confirmed as the expert made a good amount of profit from the beginning of 2008 up until the tests ended in mid October. After that, a live account was started to test the ea, account which has experienced more draw down than this same expert last year.

As you can see on the GBP/USD weekly charts displaying the ATR indicator, (shown below) volatility has increased expotentially during the past 6 months. This seems to be a consequence of market uncertainty and a general increase in volume across the forex market. Indeed, the market has been almost doubling its trading volume every year.
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Now, expert advisors that use a set of fixed stop loss and take profit are bound to fail because they cannot adjust to these ever changing market conditions. As a matter of fact, market conditions can just be expressed as a measure of volatility since human psychology remains the same, the only thing that changes is volume (of course, on the long run, human psychology should change as we should be able to learn from our previous mistakes, etc).

What I discovered, in the case of Gods Gift, is that there is a defined set of parameters that work well from 2004 to 2008 and a completely different set of parameters that works very well from mid 2008 to present. The main difference is that SL and TP values have to be widened enormously to take into account changing market volatility. This led me to program an ATR based stop and take profit on the Gods Gift expert advisor, this of course, allowed me to find a set of conditions that worked perfectly from 2004 to present.

If you would like to learn more about the exact results obtained with Gods Gift both in demo and life accounts as well as getting the new Gods Gift with ATR adjustable SL and TP 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 00.32 0 komentar

Forex Expert Advisors Forex Spectrum an Unbiased Review

A new expert advisor which claims to be something "never seen before" in the forex automated trading industry has just been released. This trading system, which was brought to my attention by an Asirikuy member, will be the subject of todays post. The trading system is named Forex Spectrum and the author claims that it is able to give more than 600% profit with "virtually no risk". On todays review I will analyze these claims against the evidence provided on the website and Ill give my opinion about whether or not the forex spectrum trading system is or is not worth buying and testing. My review will show you if the claims shown on the website can be taken as valid and if the "undisputable evidence" shown is in fact evidence of the claims made. Will the forex spectrum expert advisor pass the test ? Youll see within the next few paragraphs.

I have to say that I believe that it is always unethical to call anything forex related risk-free, making claims such as "with virtually no risk" makes people believe that they can achieve those profit levels without any market exposure something which is definitely misleading. People should take into account that forex always carries a high degree of risk, a fact that point out that there will always be some capital loses (sooner or later), which may or may not lead to profitable periods depending on the trading systems capabilities.

The claim made of a 600+% profit in a short time with almost no risk is one of the boldest I have ever seen (after the claim of 1000 USD to more than 3 million made by an EA a year ago) and not surprisingly there is absolutely no reliable evidence to backup this claim on the website. This expert advisor seller does not show 10 year backtest or live testing results which can stand behind what he is saying. What is the so called "indisuputable" evidence ? No more than a few trades shown on charts which could easily be made or hand picked from any trading strategy. These images say NOTHING about the likehood this trading system has of being long term profitable.

We also have some images of "statement shots" which could have been easily taken from any backtest and hand-picked to show a desired scenario. Why does the creator of forex spectrum NOT show 10 year backtesting and live testing results when they are SO easily available ? There is an EVIDENT hiding of easily obtainable evidence which would indeed backup the authors claims if they were coherent with reality, however the author does not show this evidence, obviously the simplest reason why the evidence is not shown is because it does NOT show any evidence of long term profitability.

I personally despise the hypocrisy of the sales pitch "this is not about money"- the author expresses- when it is evidently ONLY about money since the author seems to have no regard whatsoever for the future of peoples capital, selling them a system which has no evidence of profitability using bold claims and cheap marketing tactics. To sum it up, the overwhelming lack of evidence makes the forex spectrum expert advisor NOT worth buying or testing. The author would need to provide 10 year backtests coupled with a period of at least 3 months of live testing and a backtest of this same period to show back/live testing consistency, once this evidence is provided I will be glad to rewrite this review.

If you would like to learn more about my work in automated trading and how you too can start to develop and use automated trading systems with sound trading tactics please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

Diposting oleh Unknown 07.16 0 komentar

Forex Expert Advisors Forex Warlord an Unbiased Review

Two or three days ago a customer suggested the Forex Warlord System for Review. Since more people may be interested in the review of this trading system I decided to publish a review about it today. As always, my review will look at the claims made by the author of the EA and the evidence the author has to back them up. After analyzing this evidence as well as any statements and information about the experts technique on its website I will tell you if the system fulfills my criteria for long term profitability and if it is or is not worth buying and testing.

This trading system is made by a guy that goes by the name of "Paul Liburd", I have never heard of him and I dont have the slightest idea if he is a successful trader or not. For all I know, this guy is just someone trying to sell an expert advisor. Is there any evidence of his success as a manual trader ? Does he show any statements of accounts he has traded profitably ? Then why does he say he is a successful manual trader ? It makes no say that if he is not going to show any statements. The fact that he is also the author of forex accumulator points to the fact that he is just a guy trying to sell his automated trading systems which may or may not work. God knows if he is an actual person or just a figment of someones imagination.

However we are not here to discuss if Mr. Liburd exists but we are here to discuss if the system he presents is or is not as profitable as he says. The claims he makes are actually all based on simulation. The few partial screenshots of winning trades he shows like the "38500 in 5 trades, nos loss" screenshot are just not believable unless we can get access to the statement. Any system can have 5 consecutive loses or profits, I dont care about those small aspects of trading. From the partial backtesting result shown we can see that the EA has a 10 to 1 risk to reward ratio. Talk about unsound trading tactics ! Of course, this EA is profitable in backtesting because, as many, it is probably made to take advantage of backtesting vulnerabilities that can be exploited. The result with this kind of EA is usually that in live testing profitability diminishes a lot and therefore the very unfavorable risk to reward ratio cashes on the market exposure and kills the system.

Are the backtests valid ? Well, there are NO live tests to confirm that they are, therefore we assume they are NOT because it is the most probable scenario. We always need to have back/live testing consistency in order to use backtesting as valid evidence of profitability. This guy is simply crazy if he thinks he can sell a system to knowledgeable traders with such scarce and incomplete proof. Why is the backtesting statement not available ? Why doesnt he show the dates ? Why are they no live tests if his system is so profitable ?

And what about the "manual performance graph" ? Please, I could make that in excel in ten minutes. Show us a REAL account with investor access we can believe and we will believe you got those results. Anyone can say anything and expect to be believed but it is just too bad that there are people out there willing to lie so bluntly. Of course, I will apologize for saying this and I will redo my review is evidenced is shown to backup every claim made on the website. I would like investor access to the statements of the manual system as well as 10 year backtests and live tests to confirm backtesting validity. Why do I feel I will never get this info ?

Because of all the things I have said before I consider this system NOT worth buying or testing until all the necessary evidence to believe the claims is available. Meanwhile, if you would like to learn more about automated trading system evaluation and the requirements for long term automated profitable 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 03.45 0 komentar

New Expert Advisor Portfolio

Today I realized that maybe it is not absolutely necessary to spend a lot of money to get some decent expert advisors. Based on my experience with myfxovereasy (which I reviewed earlier last week) I can say that there must be some promising free expert advisors out there.

I have always been aware of the free ea collection available at earnforex.com but I just saw the recently updated tests on the eas earlier this week. With these expert advisors optimized and the "perfect" conditions for their operation given I found no reason not to test them myself in a demo account and see what happens.

So I started a test of a complete free expert advisor portfolio. This portfolio has the following experts :

Framework : Which uses commodity channel indexes and strikes me as a medium term expert advisor.

Artificial Intelligence : Which is a neural networkish expert advisor.

Phoenix : Which is a short term sort of scalping expert advisor.

Binario : Wich is a long term expert advisor.

Myfxovereasy : Which is a trend following medium term expert advisor.

With all this expert advisors covering almost all types of market conditions (hopefully!) and reporting more than 10% yearly profit each (some reporting even a 15% monthly profit) I hope to have convincing results that suggest that this is the perfect expert advisor portfolio. Profitable and free !

Diposting oleh Unknown 08.16 0 komentar

Why There is An Expert Advisor That Works

For the past six months I have been very intrigued by who and what drives the prices up and down in the forex market. It is quiet obvious that retail traders hold just a small portion of the cake while funds, banks, exporters, importers and the like hold a much bigger chunk.

I have also asked myself if this people drive prices in a mechanical way. Is it predictable ? One of the most important questions for retail traders. Can we predict the direction of the market ? Or more specifically, can we consistently predict the direction of the market ? The answer - I think - is a shade of yes.

Even though we all have different opinions on the technicals and fundamentals of currency pairs, we all know what we all expect. I mean, for example in the case of a non farm payrolls release, we all think it will be say 100k, then it is 70k, there will unmistakably be a hike in the EUR/USD pair. It is all not because 70k is "good" or "bad" for the economy - although this may be aligned in some cases - it is because the market goes either with or against main trader expectations. This drives the market and people react predictably to this news events.

In the case of more technical situations I think the same may apply. People are psychologically predisposed to certain patterns on charts. This makes their appearance constant. People are used to feeling certain emotions once they see certain changes in price on a currency, then they react the same way they have always done. They will always see trends, retracements, breakout patterns and similar graphical figures.

Although I may not demonstrate conclusively that prices are predictable by means of repeating market behavior I may speculate that the fact that the same people are trading the same currencies on the same charts creates some sort of very complex pattern inside their conduct. People who grasp this pattern are successful retail traders. People who dont, well, they are the other 90% if you know what I mean.

My analysis so far, predicts that there may be an expert advisor that works on all market conditions. This is because an expert may - unless psychological factors in trading change substantially because of an event - trade based on the "pattern" given by currencies through human behavior.

And even though I have no way to know the nature of this pattern or implement it mechanically I know it is there, hidden amongst the price. Waiting to be discovered. Not all experts are doomed to failure, some may get the key to our psychology .

Diposting oleh Unknown 20.00 0 komentar

The Retail Trader and the Expert Advisors

It seems like yesterday when I first decided to use automated trading systems to become a profitable forex retail trader. My life was becoming seriously affected by me taking too much time to manage my forex market positions so this seemed like a great opportunity to enjoy a day job free life style without anytime taken from my schedule. Boy was I wrong !

There is no doubt in my mind that this are the thoughts going through the majority of the new people trying to start to make a living from the forex market using automated trading systems, mainly expert advisors. People, just like me, start in this world with the hope that they will find an easy way, without having to learn or intervene too much, to be profitable in forex trading. My friends, you couldnt be further away from reality.

Ill tell you what happened to me, in the hopes that some of you can cut a few steps. When I started with automated trading systems I decided to buy the "flavor of the month" so to speak, that is, the expert that had been making money for a month and everybody was hyped and talking about. To my surprise (yes, at that time I was surprised!) the expert advisor turned out to be completely different from what I was promised. After a few months, it brought my account to just a few dollars. And you guessed right ! I was angry !

Sure, that was a scam, but there should be another expert I could trust out there. It turned out to be, that most of the commercial experts out there, do not work. To my surprise, I ended up having to learn about triple of what I would have had to learn to be able to trade manually. On top of learning everything a manual trader needs to know, I had to get familiar with the mql4 language and start to really come in touch with what expert advisors really do and what can and cannot be achieved in the world of automated trading.

You really cannot cut corners in the world of forex trading, automated or not. There are hundreds of traders out there trying to catch that same dollar you are after so you really, really need a very sharp edge to get it. And trust me, a 100 USD trading robot does not give you that edge. The edge comes from knowing the systems, knowing their limitations, their strengths, knowing what draw downs to expect, really, really trusting your trading systems (something which is extremely hard to do with a system that you dont even understand and that comes inside a black box)

If you want to learn more about the free and commercial expert advisors I have used, reviewed and programmed 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 11.02 0 komentar

Forex Expert Advisors Fish Forex Robot an Unbiased Review

On another review I will be examining the Fish Forex Robot expert advisor today. This trading system- which was released a few weeks ago- claims to be able to generate 3000 to 4000 USD every month spending no more than 5 to 7 minutes a day "monitoring the robot". It also claims to be able to "double your account every month" a very bold claim which the author should be able to backup. Within the next few paragraphs I will analyze the trading evidence provided by the author and I will see if it is able to sustain her claims. I will also look into the experts trading tactics and I will tell you if the Fish Forex Robot has a high like hood of achieving long term profitability and whether or not it is worth buying and testing.

In the beginning you see a big box that tells you that you have two options. The first one is 3-4K of stable income from Fish Forex robot or vague promises of fortune-making strategies. However this is just very misleading and one of the marketing tactics I hate the most because it reflects a general LACK of knowledge from the expert advisor seller. You simply cannot mention any profit without mentioning the necessary intial capital investment. Do you get 3-4K from one million dollars, from 10 dollars, from 1000 ? It is absolutely frustrating to see these claims over and over again with absolutely no basis in real trading.

What we have from here on does not help the trading systems cause either. The seller shows us a backtesting equity curve that - surprise - is that of a Martingale showing how a 1000 USD account turned into 19,000 USD in just a little bit more than 6 months. The backtesting chart and the statements show a five fold increase in lot size with every loss, telling us that not only the system uses progressive money management but it also has a very unfavorable risk to reward ratio. Cleverly all the places where we could infer the risk to reward ratio from have been blurred and all we have to actually think this is the case is the fact that a five fold increase in lot size merely recovers the last loss pointing to a 4:1 risk to reward ratio which - combined with a progressive money management system- is definitely a time bom.

Then we have a "live trading statement". Please, this statement is merely a joke. Anyone could put up an html and makeup that statement and then blur it. If this seller is serious about showing profitability then she should include a REAL live investor-access verified account that TRULY showed live-updated trading results that we know are obtained from a real account with real money. This "live testing evidence" which - even if real - is extremely limited, simply does not contribute to any proof of profitability. What does the seller want to hide ? Why not risk her own money to show the "consistent income" her system can make ?

What we see in the case of the Fish Forex Robot trading system is nothing but a system with a seemingly very unsound trading tactic that has absolutely no reliable evidence of profitability. The author hides backtesting statements, denies 10 year backtesting results, blurs "live trading results" and does not even risk her own money to show us a live investor-access verified account. This system trades a very dangerous game and a few consecutive loses are bound to put you into VERY DEEP draw down if not an account wipeout.

Due to the fact that there is simply no evidence to backup profitability and the fact that the system uses an extremely unsound trading tactic with a very dangerous progressive money management strategy (five fold increase in lot sizes) I consider the Fish Forex Robot NOT worth buying or testing.

If you would like to learn more about automated trading and gain a true education on how you can evaluate and be successful with expert advisors with sound risk and profit targets please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

Diposting oleh Unknown 01.00 0 komentar

Bogie NN v8 Expert Advisor by William Boatright a Review

Today I decided to write a review about an ea that has been around for a while and has attracted the attention of many forex traders. The expert advisor I am talking about is the Bogie-NN-8v advisor developed by William Boatright. This ea is said to be neural network based and has managed to get profits in excess of 50% on some months.

Well, first of all, let me tell you, in my opinion, what Bogie is and what Bogie is not. Bogie is an automated trading system based on an indicator developed using a neural network approach, Bogie is not a neural network. What does this mean ? A neural network is supposed to optimize itself continously, that means, with each new tick, the expert should reevaluate and reoptimize itself to better adapt to current market conditions. A neural network, in analogy to your brain, should be able to "learn" from past experiences and therefore increase its possibilities of trading the market profitably.

Bogie does not do this, the expert advisor does not continuously optimize itself but is based on an indicator developed months ago which is now, most probably, obsolete due to changes in the way market conditions have changed. To compensate for this, Bogie has to be optimized, that is, some parameters have to be changed in order to adapt the ea to current market conditions. The problem, as you may infer, is that the ea is always being adapted to some period of time before the present which may or may not represent current market conditions.

In essence, trading Bogie is like flipping a coin, if your parameters are aligned with current market conditions you will make money, if you dont you will lose (very volatile, you can expect +/-50%). This type of approach for an expert advisor is unreliable as it is true that expert advisors can remain profitable without constant optimization, which is, anyway, like guessing current market conditions. When do you reoptimize ? How do you know it works ? You cant know.

Furthermore, the use of the NN indicator is completely pointless since it can be replaced by any other market indicator. You can always optimize a variation in any indicator and correlate it with price as you would with the Bogie indicator.

In my opinion, although Williams intentions with this ea are good and I believe him to be an honest person with the retail trader in mind, the expert advisor simply does not work, its approach is flawed by design since the ea is not really a neural network and the optimizations needed are not guaranteed to improve the experts performance. If you want to see how Bogie has performed on forward testing and learn more about reliable and profitable commercial and free expert advisors 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 06.01 0 komentar

Forex Expert Advisors Fx Genius Robot an Unbiased Review

After doing some online research today I found an expert advisor which had been suggested to me for review in the past but which I had put aside because at the time I did not have enough information to put up a well informed opinion on the trading system. Today I have finally decided to write a review about the fx genius robot from which I now have enough information to review. This review will focus on the evaluation of the creators claims against the evidence provided by him, after this I will be able to give my full opinion of the EA and tell you whether or not it is worth buying or purchasing (in my opinion). More over, a friend of mine who bought this system let me analyze it so I was able to checkout its logic and trading mechanism, reason why I have some very interesting insights on this system which I did not have before.

The claims this EA creator makes are nothing short of absurd, turning 100 USD into 170K USD in 51 day is nothing short of a holy grail. It is evident that we have to luck deeply into all the evidence provided since such claims are extremely unlikely to be true given the fact that a system that generated such capital would have a huge market exposure.

When we start to unravel the results on the website we find that the EA is what people would call a "true scalper" that is, an EA that often takes profits in less than a minute and within 2 times the spread of the currency pairs it trades. We also find out that most of the results on the website are from demo, not live accounts. This is a very good reason to be suspicious since demo vs live performance for a true scalper would be extremely different since true scalping often suffers from excessive requotes, slippage, etc.

Now the fascinating part about this expert advisor is the concept in which it is based. Looking at the EA manual and system I find that what the EA does is what we would define as "arbitrage". What the EA does is take the price feed of a "fast" broker and then compare that to the broker in which its trading. When price moves in one direction in the fast broker and fails to move on the "slow" broker, the EA places a trade in that direction and cashes out fast. The EA is able to foresee the future due to an inefficiency caused by the different feeds among different brokers.

Can this mode of trading generate such huge income ? Sure, if it was possible to do this in the long term it would do for sure. However there are many many problems associated with this approach. The first one is that "fast" brokers are generally ECN brokers, and "slow" brokers are generally bucket shops with a dealing desk. The problem is that a bucket shop will not allow you to truly scalp, they will most likely fill you with requotes, slippage, etc before they let your trades go through. An ECN would allow you to scalp but its feeds are the fastest so you wouldnt be able to find a "faster" feed from which you could use the concept. Is there a certain brokerage combination that would generate profitable results in live trading ? Well, you would have to open hundreds of live accounts on different bucket shop/ ECN pairs and find out which one allows you to do this type of true scalping in an endless fashion. Most slow brokers will block accounts that show this behavior during the short term and they even wont let you withdraw the profits you made.

Is such an approach likely to be long term profitable ? I find it highly unlikely since it is based on a purely technical inefficiency of the market (technical in the sense of IT not in the sense of technical analysis). Most likely you will not find a single broker pair that will let you profit from such an arbitrage setup. Sure, on demo you will achieve very profitable results, live trading with regulated brokers will be a totally different story. Of course, even though I find such an approach ingenious from an "idea" kind of way, I believe that trading must be based on sound principles that will with the highest like hood generate a return in the long term. the Fx genius robot is not the case and at 2000 USD, it is too steep of a price to pay for such a an unsound way to profit from the markets. Chances are you will never find any broker pair that fit this trading method.

I would recommend you spend your time searching for more long term profitable trading system, here or on other websites you consider aim for this target. If you would like to learn more about the long term profitable systems I develop and trade 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 17.15 0 komentar