Monday, July 20, 2009
NFA Rules
Many traders concern about the New NFA rules -- will they kill MT4 trading in the USA? Will they ban stop loss and take profit? Will they let you close only first position first even if the last is in profit now and due to closure? Today I decided to find out the answers and created my NFA report - you can read it here NFAreport.pdf
Monday, May 25, 2009
Automatic Forex Crusher Review
The Forex Crusher is the new EA from Paul Walker. The website itself contains traditional generic hype without any real results and backtests. So lets go straight to the robot testing itself.
System works on EURUSD H4. The Forex Crusher long term backtest results looks bad with many programming errors in the log:
We tried to backtest it in 3 different brokers and all of them showed log errors such as Order Send Error, Order Modify error etc. I would not trust the EA where the vendor did not bother to check his product carefully. Obviously he does not trade with it.
Check the updates of review on Forex-Tester.com
Sunday, May 24, 2009
Euro Blaster Review
We have got in contact with the developer of Euro Blaster however he was not very friendly and refused to send us a copy of his EA for the review. That is often a warning sign - if the robot is really good vendors are always willing to show it to our readers.
However I can't say that this robot is a piece of crap. According to the backtest it really made some good gains in 2008 however if you run it long-term the SL eats all the profits.
The Euro Blaster long term backtest results looks bad:
The system works on EURUSD M5. They provide 3 presets. However if you compare TakeProfit=25 and StopLoss=350; it is clear that one wrong trade eats all the profits in a long run.
Check the updates of review on Forex-Tester.com
Friday, May 22, 2009
Forex Transformer Review
Here is my review of the new EA from Paul Liburd with a funny name "Forex Transformer". I like "Transformers" movies however I have no idea what transfrormers have to do with this expert advisor. Maybe the creator was inspired by the "Terminator EA". I guess next time they will release SpiderMan Robot followed by X-Man Trader lol.
Anyways, Forex Transformer EA works on EURUSD M15. It is based on the number of indicators such as iSAR etc. The only parameter you can change here is trailing stop value. That's really weird - you can't even set the proper MoneyManagement!
The Forex Transformer backtest results looks strange - Backtest in 2009 looks bad:
I tested the robot in Alpari and Fxdd and did not get any good results.
Check the updates of review on Forex-Tester.com
Wednesday, May 20, 2009
Forex Conqueror Review
Brad Cullen released a new Robot called Forex Conqueror recently. Forex Conqueror Expert Advisor trades the EURUSD pair on the M15 timeframe. The Backtest for 2003-2009 looks promising.
After the order you will get a OTO offer for The Forex Conqueror Plus which trades on USDJPY M15. This second robot is a piece of crap - don't even think of buying it! Backtest shows total loss for this robot. I tried both Alpari and FXDD to make backtest.
Here is the Forex Conqueror backtest:
After the order you will get a OTO offer for The Forex Conqueror Plus which trades on USDJPY M15. This second robot is a piece of crap - don't even think of buying it! Backtest shows total loss for this robot. I tried both Alpari and FXDD to make backtest.
Here is the Forex Conqueror backtest:
The main robot looks promising. I will report later with more trading results!
Check the updates of review on Forex-Tester.com
Thursday, May 14, 2009
Forex Magic Machine
The forex magic machine is a new product from the creators of the following projects: forexdominion.com forexkingpin.com semiautoforex.com theforexfantasy.com theforexlegacy.com theforexmaestro.com theforexmiracle.com theforexterminator.com - most of them does not work at all as you can read from my old reviews.
However this Magic Machine strategy is not bad at all. The strategy is based on plenty of standard indicators such as Stochastic, RSI, MA, SAR, BearsPower, BullsPower, ADX, MACD etc. and works on EURUSD H1.
The Forex Magic Machine backtest results look promising only in 2006-2009:
However this Magic Machine strategy is not bad at all. The strategy is based on plenty of standard indicators such as Stochastic, RSI, MA, SAR, BearsPower, BullsPower, ADX, MACD etc. and works on EURUSD H1.
The Forex Magic Machine backtest results look promising only in 2006-2009:
The main problem here is that it is not an original EA. As one of my readers reported: The strategy itself is a clone of a free EA called VForce:
For 200 bucks, they sell you the 'original version' which is v1.1 of the 'vforce like ea' downloadable here:
http://www.tradingsystemforex.com/expert-advisors-backtesting/1086-vforce-like-ea.html
For another 200 bucks, they sell you the 'advanced version' which is v2.0 of the 'vforce like EA' downloadable in the same thread as above.
The vforce ea has a 'modify order 130' issue cause by the ATR trailing stop and, of course, the magic machine has this as well. Backtests are literally the same. No improvements or modifications. Same ea.
So guys, be careful!
For 200 bucks, they sell you the 'original version' which is v1.1 of the 'vforce like ea' downloadable here:
http://www.tradingsystemforex.com/expert-advisors-backtesting/1086-vforce-like-ea.html
For another 200 bucks, they sell you the 'advanced version' which is v2.0 of the 'vforce like EA' downloadable in the same thread as above.
The vforce ea has a 'modify order 130' issue cause by the ATR trailing stop and, of course, the magic machine has this as well. Backtests are literally the same. No improvements or modifications. Same ea.
So guys, be careful!
Check the updates of review on Forex-Tester.com
Sunday, April 5, 2009
Forex Vengeance Review
Forex Vengeance was released onto the market Tuesday 17th March. Forex Vengeance is a multi-currency pair trading system. The pairs it trades on include the EUR/JPY, EUR/USD, and GBP/USD currency pairings. This means your profits aren’t tied to one currency - this is particularly important given the current economic climate.
Forex Vengeance functions in a MetaTrader 4 platform which most brokers provide their clients with. It is connected to a Forex broker as long as the platform is open on your computer, and remains connected to the Internet.
Forex Vengeance is designed to work with any initial outlay - you can start with $50, $100, $200.
Forex Vengeance is designed to work for low risk but solid profit growth. Slow and steady wins the race.
The Forex Vengeance Robot has been tested with real live trading accounts, not demo accounts, over a period of months before it was released to the market.
Overall, I would recommend Forex Vengeance as a "Buy".
Forex Vengeance functions in a MetaTrader 4 platform which most brokers provide their clients with. It is connected to a Forex broker as long as the platform is open on your computer, and remains connected to the Internet.
Forex Vengeance is designed to work with any initial outlay - you can start with $50, $100, $200.
Forex Vengeance is designed to work for low risk but solid profit growth. Slow and steady wins the race.
The Forex Vengeance Robot has been tested with real live trading accounts, not demo accounts, over a period of months before it was released to the market.
Overall, I would recommend Forex Vengeance as a "Buy".
Tuesday, March 31, 2009
Forex MegaDroid Review
Hi guys! I guess you heard all the buzz about the new Forex Droid robot that was released 31 March.
As you know as always I am in the insider group of first betatesters and had a chance to test it before the rest of the world. Here is my first test results and they look really good. The robot is trading EURUSD pair which is not a spread-dependent and uses Artificial Intelligence and some complicated RCTPA technology to adjust the stop loss according to the market volatility.
Fx Droid Testing Results
The main question is: Is it better than fapturbo?
My answer is you can't compare them. If you are a serious forex trader and plan to make money you should understand that your forex trading portfolio should consist of several good systems. Remember, the diversification is the key to success! When one system has a loss the other one has a profit so your chances to win simply increase! That's why I review different systems to introduce good robots to you and of course to you!
I will update in a few weeks with more results on this robot!
Check the updates of review on Forex-Tester.com
Wednesday, March 4, 2009
Pips Leader Review
Pipsleader has a lot of red flags - scam signs on the website. First of all they have stolen the graphics from the popular FAPS website. Take a look and compare images. I doubt if honest company would steal the graphics.
The system itself does not perform good too. It trades without a stop loss on so called "basket trading" system and generates huge losses on the backtest. It worked good only in 2008. You will get a log of huge floating losses here.
The system itself does not perform good too. It trades without a stop loss on so called "basket trading" system and generates huge losses on the backtest. It worked good only in 2008. You will get a log of huge floating losses here.
Our reader Nigel wrote: "My problem is it opens so many trades in one direction before it opens the hedging trades that it could wipe your account out BEFORE it sets the hedge. It says in the manual that it opens trades with a zero stop loss and then manages them. However it doesn’t seem to “modify” the trade so you can’t see any revised stop losses in the MT4 Terminal window. I’ve asked repeatedly to Tom Geller what the SL parameters are and how they are managed but I can’t get a decent response, just the one that I’ve attached to this email and which was sent out a few hours after his “offer” went out."
Here is what Tom Geller, the president of Pips Leader, wrote in reply: Several of them specifically commented that it was opening long positions at the peaks and short positions at the troughs, etc. This is perfectly normal - the real issue is actually nothing more than a lack of understanding of the strategy being traded by the Pips Leader robot. Put simply, the Pips Leader robot is what is known as a "basket trader". The advantage of this type of strategy is that market direction is not especially important, only market movement. At some point, the combination of a shift in market price and an imbalance between the open long and short positions will allow the basket of orders to be closed and the target achieved. Until this occurs, there will frequently be a floating loss, however, that is a temporary situation but part and parcel of trading this kind of strategy.
Check the updates of review on Forex-Tester.com
Here is what Tom Geller, the president of Pips Leader, wrote in reply: Several of them specifically commented that it was opening long positions at the peaks and short positions at the troughs, etc. This is perfectly normal - the real issue is actually nothing more than a lack of understanding of the strategy being traded by the Pips Leader robot. Put simply, the Pips Leader robot is what is known as a "basket trader". The advantage of this type of strategy is that market direction is not especially important, only market movement. At some point, the combination of a shift in market price and an imbalance between the open long and short positions will allow the basket of orders to be closed and the target achieved. Until this occurs, there will frequently be a floating loss, however, that is a temporary situation but part and parcel of trading this kind of strategy.
Friday, February 27, 2009
Stealth Forex Review
I have read very different reviews on this system. Some people say:
Stealth is without question the best trading system that I have ever used and the people at support are just the best.
While others say:
This system doesn't give any better results than just rolling the dice and picking a random trade.
The Stealth Forex system includes several indicators such as "Stealth BUY SELL", "Stealth LCD", "Stealth Hybrid". Do they really work?
On the main page of the site we see rather strange graph with the arrows on it. Lower we can see something even more strange - sell/buy indicator, "magic" LCD indicator and the "secret" hybrid indicator. Well, maybe it seems that it's really work. I answer you "NO, it's NOT working" You'll ask me why. Ok, let's try to explain.
The first. "Sell or buy" or "How to find a trend". I am sure, that sell/indicator works rather easy: it uses the moving average with a very small period, so it "catches" every change of the market. But it's right way to bankruptcy. Later I'll explain why. The second. LCD indicator. It sounds like LCD TV!) What's the meaning of this indicator? You know, I've been trading a lot, but even I can't understand why it it there. By the way, the creators don't explain it too! Maybe it's just a kind of moving average with a little longer period. The third. Hybrid indicator. I don't want to say long time about it. Better I just tell you that it's just a standard stochastic or MACD. Every body know that yes, it works. But only on history. The signals for enter must be in time.
So, I, made it tested, I draw conclusion. A set of strange, magic indicators is just a set of standard, well-known indicators in new appearance. They use the short period moving average like buy/sell indicator and suggest us to buy even on downtrend. It's a great mistake. They use moving stop-losses, that never be activated, but swaps will "eat" your deposit. And the main, that this system work only on history, but when you trade online, you will get system signal in hours, when it is already late. As a result, the the money flow out of your pocket.
Check the updates of review on Forex-Tester.com
Wednesday, February 25, 2009
Forex Assassin Review
The Forex Assassin came out on the market some time ago and planned as a "Forex Killer" killer...
Forex Assassin is a manual system, not a robot. It works on Eur/Usd, Gbp/Usd, Usd/Jpy, Usd/Chf pairs.
The good part is the entry signal is pretty simple, not based on template indicators; T/P and S/L are not based on scalping so system could be good long term. However on the other hand it has bery low number of trades (around 52 per year).
Result of the test:
EUR/USD: -56 pips
GBP/USD: +1 pips
USD/JPY: -56 pips
USD/CHF: +1 pips
EUR/JPY: +75 pips
Total: -35 pips
Check the updates of review on Forex-Tester.com
Forex Goldmine Review
Forex goldmine website is selling 2 EAs: RoboMiner and GT-Shadow. The member area is pretty nice and content-rich with lots of vidoes, PDF, Mathematical proof etc. The creator himself is very active on public forums, such as Pipcop.
Lets start with RoboMiner review today. In future I will update my review with the opinion on GT-Shadow EA.
Robominer works on EURCHF and AUDNZD H1. The system opens several trades with very small lot size and no stop loss and keeps them until reaches the profit. Looks like there is no inner stop levels or indicators, it simply keeps the position open until reaches the profit. This approach looks very risky for me - even with 0.1 fixed lot the drawdown can be as huge as $5000 on 10K account!
The profitability is extremelly low. You should expect a lot of small winning trades but huge number of floating losing trades because they do not have stop loss. The bottom line: I would not recommend trading such system on real money: you can get very tiny profits with a chance to blow whole deposit...
Update February 2009: Okay, as promised I continue my review today with opinion on GT-Shadow. Here is the bold claim : "The GT-Shadow is like the RoboMiner EA on steroids. At its very basic settings, it can trade the forex market in exactly the same way as the RoboMiner.". okay, lets see this baby in action...
GT-Shadow comes with several presets and can trade several currencies. It can also trade Grid Weaver style on EurGbp H1. Grid Weaver trading is a standard Grid system when the EA builds a no stop loss grid and gets tiny profits with huge floating trades that can finally blow the whole deposit. However to be honest this Grid system is one of the best I ever seen among systems of this kind.
Regarding "steroid trading" on EURCHF H1 - once again same system trading 0.02 lot on 10K deposit making small profits with no stop loss and drawdown of 47%. For example current forward test shows a profit of 41.08 usd with a floating loss of -1782.76 usd... No wonder the creator trades only demo accounts in his forward test and does not trust real money...
One more bad thing - 1 year backtest is very slow and takes HOURS even on my super powerful 4-core processor PC so no idea how one can optimize this beast.
Update February 2009: Guys, as you know we are always open to discussion and welcome EA developers to share their own point of view. Today Jerry from RoboMiner got in touch with me and shared his opinion on the system. From his permission I publish all his words here so my readers will have better understanding of the Robominer.
Jerry: I want to thank you for reviewing the RoboMiner and GT-Shadow at forex-system-reviews.com. My partner, Bob, and I are the developers of both EAs. I do all the program coding while Bob works mostly on the theory end of things. I thought your review was fair, but would like to respond to your concern on the drawdown issue. We consider the lot sizing to be an integral part of the system in a way that goes beyond that relationship in most other systems. No one should ever be trading .1 lots with a $10,000 account. On just the AUD/NZD, the most lots that someone with that account size should be trading is only .05 lots. If that rule is adhered to, you will find the equity drawdown to be somewhat more moderate. In actual fact, Bob and I both trade the RoboMiner with real money. We are very conservative, even more conservative than the minimums mandated by the system, and yet are averaging better than 5% per month. You see, we are not trying to make huge gains. The system was intended to make an average of 4 to 8% per month over the long term. As you are aware, a person can become wealthy with those kinds of returns over the long term. And so, your observation that the profits are tiny is true. But I can assure you that those tiny profits add up over time. I like to use the example of a paddle ball, hanging from a paddle by a rubber band. Think of the paddle as your balance and the ball as your equity. The ball will move away from the paddle at times, and will also move towards it and even past it at times. But start walking up the stairs with the paddle, and even though the ball will be at varying distances from the paddle, it will always follow the paddle up the stairs with you. Your walk up the stairs with the paddle represents the growth of your balance over time. Yes, there are times when the equity is in drawdown, but, it eventually moves back up to meet the balance again. I hope this helps give a little background on what we are trying to accomplish with the RoboMiner.
Check the updates of review on Forex-Tester.com
Monday, February 23, 2009
Forex Ambush Review
Their web site claims 100% success as long as you follow their "signals exactly". They also say they 100% guarantee that you can have a refund for any reason you are not satisfied.
Upon join on the 13th.January I found out the first claim was blatently false. The only way they could claim 100% success is by NOT following their signals exactly as in their advice by not using any stops. I think anyone with the slightest experience would agree that is madness.
The idea is to open a trade and stay in drawdown until you finally reach the small profit. Sounds crazy, isn't it?
On top of this, I couldn't see how many of the signals could be placed before the close signal is given. Some are 2 minutes from start to end which seems crazy for an email signal service. If I set my email to check every minute and was sitting by my PC ready I'd still have trouble getting the order in on time. Then they tell you that for you to receive your emails promptly you have sign up for the "Diamond" edition which makes sure your emails are sent out first which they say can be a few minutes before the others.
Also, they haven't answered my email or questions via their contact page.
Upon join on the 13th.January I found out the first claim was blatently false. The only way they could claim 100% success is by NOT following their signals exactly as in their advice by not using any stops. I think anyone with the slightest experience would agree that is madness.
The idea is to open a trade and stay in drawdown until you finally reach the small profit. Sounds crazy, isn't it?
On top of this, I couldn't see how many of the signals could be placed before the close signal is given. Some are 2 minutes from start to end which seems crazy for an email signal service. If I set my email to check every minute and was sitting by my PC ready I'd still have trouble getting the order in on time. Then they tell you that for you to receive your emails promptly you have sign up for the "Diamond" edition which makes sure your emails are sent out first which they say can be a few minutes before the others.
Also, they haven't answered my email or questions via their contact page.
Check the updates of review on Forex-Tester.com
Friday, February 20, 2009
Day Trading Robot Review
Day Trading Robot, is two things simultaneously, a newsletter with stock tips, for buying and selling, and also an automated stock trading software "robot". The purpose of this "Robot", is to analyze the penny stock market, giving tips to buy and sell, with the objective of automatically spotting the best stock investments.
The system focuses on getting a lot of small penny stocks instead of risking a lot of money on expensive stocks. Penny Stocks are much cheaper, than the traditional stock market, which means that is possible to profit from a smaller investment.
Just like the stock market, the penny stock markets investor, make profit from buying at low prices and selling at a higher price than they purchased.
The Day Trading Robot automatically investigates stocks, for you using 23 professional stock trading techniques. What this robot does… is watch thousands of stocks at a time… And it waits until a stock forms one of these 23 specific price patterns. If a stock happens to form one of these patterns… The robot will do a few simple checks and if the stock looks like it is about to rocket, the robot Beeps and alerts you about, selling or buying the stock.
The Day Trading software is based in Artificial Intelligence, and neural networks, which means that it is continually improving itself.
I personally used the previous version of the software, and the tips given were 80% correct. So, if you are going to use it, do not invest all the money, in the first tip.
Day Trading Robot comes with an 8 week money back guarantee -If you still unsure if it will work or not, you can buy it, watch the tips for some, without buying stocks, and calculate the profit you would have made. After trusting the software you can start making real investments, and having huge profit. If you don`t like, than all you have to do is ask for the refund.
The system focuses on getting a lot of small penny stocks instead of risking a lot of money on expensive stocks. Penny Stocks are much cheaper, than the traditional stock market, which means that is possible to profit from a smaller investment.
Just like the stock market, the penny stock markets investor, make profit from buying at low prices and selling at a higher price than they purchased.
The Day Trading Robot automatically investigates stocks, for you using 23 professional stock trading techniques. What this robot does… is watch thousands of stocks at a time… And it waits until a stock forms one of these 23 specific price patterns. If a stock happens to form one of these patterns… The robot will do a few simple checks and if the stock looks like it is about to rocket, the robot Beeps and alerts you about, selling or buying the stock.
The Day Trading software is based in Artificial Intelligence, and neural networks, which means that it is continually improving itself.
I personally used the previous version of the software, and the tips given were 80% correct. So, if you are going to use it, do not invest all the money, in the first tip.
Day Trading Robot comes with an 8 week money back guarantee -If you still unsure if it will work or not, you can buy it, watch the tips for some, without buying stocks, and calculate the profit you would have made. After trusting the software you can start making real investments, and having huge profit. If you don`t like, than all you have to do is ask for the refund.
Check the updates of review on Forex-Tester.com
Thursday, February 19, 2009
Forex Terminator Review
A lot of members asked me to review Forex Terminator so finally I decided to buy and test it.. Salesletter reminds me fapturbo website, obviously they copied many marketing ideas. However there is big difference here - no live results are published on the pitch page which is clear red sign for me: do they really trade their system?
After purchase they will offer you to buy some EURGBP robot that looks like fapturbo clone and some scalping strategy guide, which could be good and maybe you can consider buying it however I was interested only in main system and skipped that.
The Forex Terminator trading system is based on several indicators such as ZigZag, Channel, SuperSignal etc. They provide a detailed PDF explaining how to trade manually using the signals from the Forex Terminator trading system: clear entry, exit and trading examples are provided.
However you know me, I never bother with manual trading anymore in the era of forex robots when you can automate all your ideas so I went ahead and backtested the Forex Terminator robot itself which turned out a big dissapointment to me.
The creators suggest to run it on EURUSD H4 timeframe. Take a look on 2003-2009 backtest: View the Backtest
I noticed they trade other currencies (reports shown on the salespage) such as USDJPY however I could not get any good results on them even when I tried smaller timeframes...
The conclusion is - the manual system could be good for professional traders only but if you prefer autopilot approach the robot is pretty dissapointing - you will hardly get a trade in a month and it will not bring you any good profits even long term.
After purchase they will offer you to buy some EURGBP robot that looks like fapturbo clone and some scalping strategy guide, which could be good and maybe you can consider buying it however I was interested only in main system and skipped that.
The Forex Terminator trading system is based on several indicators such as ZigZag, Channel, SuperSignal etc. They provide a detailed PDF explaining how to trade manually using the signals from the Forex Terminator trading system: clear entry, exit and trading examples are provided.
However you know me, I never bother with manual trading anymore in the era of forex robots when you can automate all your ideas so I went ahead and backtested the Forex Terminator robot itself which turned out a big dissapointment to me.
The creators suggest to run it on EURUSD H4 timeframe. Take a look on 2003-2009 backtest: View the Backtest
I noticed they trade other currencies (reports shown on the salespage) such as USDJPY however I could not get any good results on them even when I tried smaller timeframes...
The conclusion is - the manual system could be good for professional traders only but if you prefer autopilot approach the robot is pretty dissapointing - you will hardly get a trade in a month and it will not bring you any good profits even long term.
Check the updates of review on Forex-Tester.com
Wednesday, February 18, 2009
Forex-Trading-Made-Ez Review
George is truly a great trader but even more important a great person. He takes the time out to answer his students and help them with anything they are struggling with. Not many people go into detail the way that he does. His videos are priceless. I suggest that anyone who is not one of his students yet, give him a shot. When I first purchased his system, I loved how simple it was. It is well put together. Another key factor about his system is that it does not require for you to stay up late for the London open or anything like that. I have a fulltime job so I'm not always excited about staying up late trying to get in a trade before 1am comes. His system is powerful enough to pull your daily target out of the market at anytime during the day, not just the London open.
I've been burned in forex many times in the past. I've finally come across a system that is well worth the price and produces the results the author says it can produce. Those of you who are already students or have seen some of his videos with the statements, know that he does not have to do this for the money. He makes more than enough of that just from trading. He truly wants to help you do the same and that's why this system should be given a shot by all traders at all levels who are trying to take their trading career to a new level. In the world today, there are a lot of scam artist and people out to make a quick buck at the expense of someone who is just trying to better their life. George truly is not one of those people. He wants to see you succeed and reach your goals and that's why hands down, you will never find a better system than this, or a better person than George.
This system is perfect for the novice trader because it can be traded with just $100. Not many people have $1k, $2k, 0r $10k laying around to throw in a trading account and trade with. So, for the little guy who has a passion for trading but not the deep pockets as some do, this system is the perfect match. Give this system and George a shot. I promise that you will not be making a mistake by doing so. So, with that said, check out his website and see for yourself. He shows you the results, so what more can you ask for. Don't let this great chance pass you by. Trust me, it truly will change your life. I'm giving this system a rating of 5 stars but that is not accurate. I spoke with George before I purchased his system so I knew what I was getting into. I expected this system to be what it was just by speaking with George. So, I'm giving it 5 stars but it deserves all the stars in the world!
Check the updates of review on Forex-Tester.com
I've been burned in forex many times in the past. I've finally come across a system that is well worth the price and produces the results the author says it can produce. Those of you who are already students or have seen some of his videos with the statements, know that he does not have to do this for the money. He makes more than enough of that just from trading. He truly wants to help you do the same and that's why this system should be given a shot by all traders at all levels who are trying to take their trading career to a new level. In the world today, there are a lot of scam artist and people out to make a quick buck at the expense of someone who is just trying to better their life. George truly is not one of those people. He wants to see you succeed and reach your goals and that's why hands down, you will never find a better system than this, or a better person than George.
This system is perfect for the novice trader because it can be traded with just $100. Not many people have $1k, $2k, 0r $10k laying around to throw in a trading account and trade with. So, for the little guy who has a passion for trading but not the deep pockets as some do, this system is the perfect match. Give this system and George a shot. I promise that you will not be making a mistake by doing so. So, with that said, check out his website and see for yourself. He shows you the results, so what more can you ask for. Don't let this great chance pass you by. Trust me, it truly will change your life. I'm giving this system a rating of 5 stars but that is not accurate. I spoke with George before I purchased his system so I knew what I was getting into. I expected this system to be what it was just by speaking with George. So, I'm giving it 5 stars but it deserves all the stars in the world!
Check the updates of review on Forex-Tester.com
Thursday, February 5, 2009
Forex Detector Review
So far it has worked for me! It does not trade a lot on the EUR/USD.
I use this EA on three different currency pairs. I have figured out a way to make it work effectively so I get more trades. I will not reveal what I figured out, because It was something that came to me as I watched this EA trade.
In short, does it work... Yes! Do you need some knowledge of how to trade the Forex... Yes! I use it for timed entries and it saves me from watching the markets all day.
Most of the EA's I have purchased could not hold a candle to this EA. It has a much better build then the others. It does use a Fibonacci approach, which I really like. Remember, NO EA IS PERFECT! If you're buying an EA, without any trading experience you may be in for a world of hurt. Test it out for 2 months, not just 2 weeks!
I use this EA on three different currency pairs. I have figured out a way to make it work effectively so I get more trades. I will not reveal what I figured out, because It was something that came to me as I watched this EA trade.
In short, does it work... Yes! Do you need some knowledge of how to trade the Forex... Yes! I use it for timed entries and it saves me from watching the markets all day.
Most of the EA's I have purchased could not hold a candle to this EA. It has a much better build then the others. It does use a Fibonacci approach, which I really like. Remember, NO EA IS PERFECT! If you're buying an EA, without any trading experience you may be in for a world of hurt. Test it out for 2 months, not just 2 weeks!
Check the updates of review on Forex-Tester.com
Sunday, February 1, 2009
Winning Solution Review
Winning Solutions is rather old website. I have reviewed it 2 years ago and the review was bit negative as old trading system from Winning Solutions did not show any good results in long term.
Update January 2009: However the creator of Winning Solution Ashar Hanif contacted me with the idea to make new review because he released new version of winning solution systems. He provided me with access and with the new system so I could make backtest of WSSBreak2.0 system and results really impressed me. Take a look yourself:
System is generating constant profits. Looking good. I will test more and report later!
Check the updates of review on Forex-Tester.com
Saturday, January 10, 2009
Forex AutoMoney Review
Forex AutoMoney has so many "red flags" on their website so I would prefer to avoid it at all.
1. First of all it is not an automated system (EA) or ebook trading system. This is a full blackbox signal service. You cant backtest it.
2. No past performane is published on the website. The vendor explains on FPA "We have no exact performance reports. That's because our system can be used 24 hours per day in all time zones with 18 currency pairs - it's not possible to show all possible results. Only 1 day of trading has over 30,000 possible transactions (number of time zones x 24 hours x 3 strategies x 18 currency pairs) and the real performance can be shown on at least one year period. It's just impossible to show such reports for all possible variants.
To be honest that sounds like a bullshit to me. Do they make so much money that it's even hard to calculate it in reports? That does not make sense to me. You made so many transactions that cant post all results? Ok, why not. But why don't you publish results at least for 1-2 major pairs and strategies?
3. To use the sytem you must be near your PC with trading platform at special times when they release the signal. I believe this is outdated approach, everyone is using automated trading now and don't even bother sitting near PC at exact time every day to execute the trades..
4. Website marketing looks like a piece of crap. Take a look yourself. How do you like that "4,000,000 pips last year" ? That is 4m / 250 trading days = 16,000 pips per day. 16,000 pips / 18 pairs = ~900 pips per day per pair !!! What an inspiration to all of us under-achievers. Also take a look at their transactions report from the main page. If you place the numbers in Excell you get 34K instead of 46K claimed. Don't you teach your staff to count?
I have made the screenshot with the investigation in case they remove it:
1. First of all it is not an automated system (EA) or ebook trading system. This is a full blackbox signal service. You cant backtest it.
2. No past performane is published on the website. The vendor explains on FPA "We have no exact performance reports. That's because our system can be used 24 hours per day in all time zones with 18 currency pairs - it's not possible to show all possible results. Only 1 day of trading has over 30,000 possible transactions (number of time zones x 24 hours x 3 strategies x 18 currency pairs) and the real performance can be shown on at least one year period. It's just impossible to show such reports for all possible variants.
To be honest that sounds like a bullshit to me. Do they make so much money that it's even hard to calculate it in reports? That does not make sense to me. You made so many transactions that cant post all results? Ok, why not. But why don't you publish results at least for 1-2 major pairs and strategies?
3. To use the sytem you must be near your PC with trading platform at special times when they release the signal. I believe this is outdated approach, everyone is using automated trading now and don't even bother sitting near PC at exact time every day to execute the trades..
4. Website marketing looks like a piece of crap. Take a look yourself. How do you like that "4,000,000 pips last year" ? That is 4m / 250 trading days = 16,000 pips per day. 16,000 pips / 18 pairs = ~900 pips per day per pair !!! What an inspiration to all of us under-achievers. Also take a look at their transactions report from the main page. If you place the numbers in Excell you get 34K instead of 46K claimed. Don't you teach your staff to count?
I have made the screenshot with the investigation in case they remove it:
Too many "red flags" for me here. I would not waste my time trying their service that looks like scam to me so please don't ask me to review it.Check the updates of review on Forex-Tester.com
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