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

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

The Forex Autocash Robot an Unbiased Review

Today I decided to write a review about a piece of software called the forex autocash robot. It is a metatrader expert advisor designed to automatically trade the forex market. I have to say, I am repulsed by the way in which this product is shunned upon people on the authors website, it is disgusting that a person can grip such cheesy and unethical marketing tactics in order to convince people to buy a product.

But well, the way in which a product is marketed doesnt make it good or bad so now I am going to focus on what the software really is. The expert advisor is a typical scalping ea, with a 6 pip take profit and a 650 stop loss targeted at an audience of not too knowledgeable forex traders. The webpages claims that the product has remained in profit for more than 8 years without a single loss. This claim is not backed up by live or forward testing of any kind and with such a small take profit it is very plausible that, even if this results really showed on a backtest, that they are not coherent with reality (due to interpolation in one minute candles). So the first problem with this ea, is that its claims are unproved. The fact that the author does not say or discuss the differences between back and forward testing anywhere is just a blunt proof of dishonesty.

I have had the opportunity to discuss this software with some people who bought it and they all have argued software problems and inconsistency between the websites backtest results and their own at high modeling qualities. So does it show any loses ? Yes, it does.

So now the question appears, with a 6 pip take profit and a 650 pip stop loss, how many trades does the forex autocash robot need to win in order to break even with a single loss ? Well, that number is 108 ! The odds of any system getting such high winning rates is small but, we are not taking into account spreads (which the author never discusses !). So, if the EUR/USD had a 2 pip spread you wouldnt need 108 but 162 trades to recover from one single loss. You can now figure the odds of becoming rich using this systems.

If the systems claims are correct and if the author is honest, he should provide live or at least forward testing information so that people can realize how it works. The author should also provide investor passwords free of charge so that people can verify his claims through watching an unaltered live or demo account.

I have to tell you, expert advisors that deliver what the forex autocash robot promises, do not exist. It is not lack of vision, it is reality. I recommend that when you buy an expert you follow your gut, if it is too good to be true, it probably is ! I wouldnt buy this system, would you ?

Finally, I would like to invite you to read more posts on my blog and if you are interested on other commercial expert advisor reviews or how to really find profitable 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 02.15 0 komentar

Forex Expert Advisors Don Steinitz Directional Robot an Unbiased Review

Today I will end the request made by a newsletter subscriber with the review of an automated trading system sold by Don Steinitz called Directional Robot. This trading system uses a smoothed multi time frame Heiken Ashi in order to get in and out of the market. Todays post will focus on the evaluation of this system. In particular I will focus on the evaluation of the authors claims against the evidence provided on the website and then I will give my opinion about the experts like hood of long term profitability and whether or not it is worth buying and testing.

Looking at this experts website it seems like the others found on Don Steinitz web page. There is a brief description of the system with performance links, screen shots and detailed information sources. Since the author makes no claims on the products web page about its profitability I assume that he wants us to go through the evidence and judge the profitability of the system by ourselves. What we find is nothing but a joke.

What Don Steinitz calls performance data is nothing but worthless information. There are a ton of backtests on several currency pairs which are very BADLY done with PLENTY of mismatch errors which make the modeling quality n/a, that is, the backtests showed by Don Steinitz of this directional robot system are totally worthless since the amount of mismatch errors is huge and does generate very significant differences with actual trading (or accurate backtesting for that matter). More over, there is no way in which we could even now if the backtests could be reliable (if done correctly) because there is no live trading evidence of this expert advisor. As I have always said, it is vital to evaluate back/live testing consistency on ALL commercial experts as we have to discard that the seller used hindsight or exploited backtesting errors in any conceivable way.

I certainly dont know how Don Steinitz pretends to prove that his systems are profitable in the long term when there is such a lack of evidence on all of his products. Why isnt his backtesting done in an accurate fashion ? Why are the backtesting periods so reduced ? Why doesnt he backtest the systems from 2000 to present on the pairs where this is possible ? I am obviously terribly suspicious of any system that seems to intentionally neglect the presence of some obvious information. Why doesnt Don Steinitz open a 1000 USD live account and place it under myfxbook for third party confirmation and trades it for a long period of time ?

The answer is pretty clear to me. I cannot say that his system is or is not profitable but the burden of proof is not on our live accounts, it is on the EA seller. Since Don Steinitz cannot provide reliable evidence to proof that his trading system can be long term profitable and preserve equity I have to consider it NOT worth buying or testing. If he puts up 10 year backtests with 90% quality (no mismatch errors !) and at least a 3 month long live test on myfxbook with a confirmed track record I will redo this review. Meanwhile, buying this system or any of his other systems is, in my opinion, just like gambling.

If you would like to learn more about my criteria for EA evaluation and how you too can build, design and program your own long term profitable 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 23.31 0 komentar