Forex Expert Advisors Forex Maximizer an Unbiased Review

Today I will be revieweing one of the new trading systems which has been released over the past few weeks. This trading system - called Forex Maximizer - promises you will be earning an income every month in no time, with consistent results that will "not make you a millionaire" but will allow you to "quit the search for a new 9 to 5 job". As always I will analyze the evidence provided by the author and I will see if they are truly able to backup the claims made on the website. By analyzing the evidence I will also be able to tell you the soundness of the trading systems tactics and whether or not the system has a high like hood of being long term profitable. In the end I will give you my fully unbiased opinion of whether or not this trading system is worth buying and testing.

The Forex Maximizer website starts with the usual marketing hype that we have come to love so much. It talks about the mighty and mystical gurus that dont want you to know their "secret" to profit from the forex market. What particularly bothers me are the statements that follow this guru talk which are just bluntly misleading and which are simply marketing phrases pointed to make people believe that "getting profit in forex is easy", "even if youve never traded", etc. Then the author goes on and on about how most forex robots "suck" and will lose your money but his trading system - which is not a scalper - will have you banking up consistent profits in no time.

However, when it comes to backing up his claims of consistent profitability and actual real earning capabilities this author simply fails bluntly. What we have as evidence of profitability is simply some hand-picked screenshots of trades -which could as well be made by hand- and some pieces of backtesting results and a screenshot of the strategy tester resuts of a one year backtesting statement. We dont have even access to the backtesting statement or the simulations results to adequately know how the simulation turned out.

Why are simulation results limited to only 2009 ? Why arent 10 year results included ? Why isnt the backtesting statement shown ? These things are all supicious because showing more evidence only makes up a stronger case for the seller and the absence of evidence usually points out that this is simply not the case. Additionally, backtesting statements from commercial EA sellers CANNOT BE TRUSTED because there are simply almost infinite ways in which these results can be manipulated to produce profitable results.

In the end, the maximizer trading system has absolutely no proof of profitability with some very limited backtesting results being the only piece of available evidence, since the backtest is not validated this information is also pretty much useless. There are absolutely NO third party investor-access verified live testing accounts needed to proof the systems profitability and to show actual back/live testing consistency. Why in the world would this guy refuse to show us his statements if his system was so profitable ? Even more, why doesnt he show us his statements if he has - as he says- been trading the system for a while ? It is absolutely amazing that someone with so little proof of profitability is even willing to try to sell a system as if it was profitable.

The fact that there is a willingness to hide evidence shown as an absence of backtesting statements and 10 year backtests and the fact that there is simply no third party investor-access verified live account to backup any claims of profitability and validate the backtests shown tell us that the Forex Maximizer system is simply NOT worth buying and testing. If the seller puts up 10 year backtests and shows a 6 month investor-access verified live test with at least 50 trades (and a backtest of the same live testing period) I will redo this review to include the new evidence. Meanwhile, this trading system is nothing but a part of the usually over-hyped trading systems with little -if actually any- evidence of profitability.

If you would like to find an education about automated trading and how you to can develop systems based on sound trading tactics to achieve realistic 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 !

Forex Expert Advisors Forex Profit Hunter an Unbiased Review

Todays post will also be focused on the review of yet another automated trading system (just when I think Ive reviewed them all !). I found this trading system a few days ago while I was searching the web for expert advisors to review on my website. This expert advisor is called forex profit hunter and it is supposed to be a great trading system. In the word of the author :

"The Secret to Automatically Selecting Winning Trades & Depositing $5,000---$10,000--$15,000 + in Profits Even If You Know Absolutely Nothing About Trading Right Now”

Now after reading all this hype you must think that he may have some very convincing proof to be able to make such bold statements. Well, the truth actually is that this expert advisor creator, as most expert advisor sellers out there, has absolutely no reliable evidence to backup ANY of his claims.

Through the whole sales webpage, the author goes on and on about the reliability of his system and why it is supposed to work for people making money while they sleep. The truth is that he offers no evidence at all to proof that his system can achieve any profitability at all. The only thing that remotely resembles evidence is just a half screenshot of a backtesting statement with some trade pictures after that. What the hell ? I can make those trade pictures myself on metatrader in 5 minutes. I think this guy, as many other trading systems salesmen out there, is treating us like if we where retarded. Guess what ? We are not !

I cannot help to feel some anger everytime I come across a webpage like this. Loads of claims with some extremely bold statements about the profitability of a trading system when there is absolutely NO evidence to prove that. When there is no evidence, you should never believe what sellers tell you. Again, when I say evidence I mean evidence for every claim they make. If they say youll double your account each month, they should have a one year statement showing you can do that, if they say their broker independent then you should expect tests on at least 15 different brokers to confirm this beyond any reasonable doubt. But we dont see this, why ? because systems like this forex profit hunter are just pure hype with no substance whatsoever.

Of course, this system is absolutely NOT worth buying or even looking at. If you would like to learn more about why commercial expert advisors lose money so often and how you can become profitable too using free long term 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 this article !

An Important Decision No More Reviews on the Front Page

Through the past several months of everyday posting, I have realized that my Asirikuy visitors are divided between two specific types. There are some people who are quite new to automated trading and find my website through search engines and those who have been following my website for a while and read it almost everyday. By talking to people and analyzing their browsing habits on both sides I have reached an important decision for my blog. From now on I will not be posting any reviews on the front page. On todays post I will be explaining the reasons behind this decision and I will also explain the consequences I think it will have related to both types of website visitors.

If you have been a frequent visitor of Reviewing Everything Forex, then perhaps you have already seen that most of the commercial systems out there are not worth buying and testing for me. In the end, reviews start to get very boring and they seem to repeat the same story over and over and over again. I have been accussed of upselling my own products (because that would certainly make me a millionaire :o) - sarcastic note) and even of bashing every system without any consideration.

Those of you who have been Asirikuy members or readers for a while know that I am a very rational person and that I only review the evidence I see. As a matter of fact, I almost never say that a system is unprofitable but what I say with exhausting repetition is that systems do not have enough evidence to be considered profitable. In the end, if commercial sellers want to prove their point, they should just provide reliable evidence. Nothing more ! I am not asking for 30 years of live testing, I merely ask for 10 years of backtesting with 6 months of live/back testing consistency analysis. But what a difficult thing this is to provide when your system is actually not reliable :o) (my own attempt at drawing a cartoon shown below)
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I however consider reviewing an important part of this site since getting people away from commercial experts that simply cannot backup their claims of profitability is a vital aspect of my social job in automated trading. Even if people never buy one of my products, the fact that they didnt fall prey to any one of this unethical affiliate sellers or scammers out there is valuable enough for me as a personal achievement.

In the end I have seen that people who find my reviews of commercial systems do so through search engines while they often never find them through forum links or direct access. Publishing reviews on the first page therefore only has the effect of boring my faithful readers (who arent that interested in commercial system reviews) and driving very little traffic from non-search engine sources. For this reason I have decided that reviews from now on will be published within the website but they will never show on the front page. Everyday there will be a fresh article about automated or forex trading and any of you interested on a systems review can search it through the label drop-down list on the left hand-side menu or simply google fxreviews and the name of the expert advisor to have it show up. I think that in the long term this solution would satisfy both my long-term readers and the new forex traders looking for some insights about the latest forex product.

What do you think about this decision ? Do you agree, disagree ? Any input will be highly appreciated ! Of course, if you would like to learn more about my work and would like to support me without any upselling pressure 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 !

Forex Expert Advisors Shark by forexeasystems com an Unbiased Review

Today I am going to focus on the review of a very interesting trading system called Shark, made by the people at forexeasystems.com. I have to say that I bought shark almost one year and a half ago and therefore I have a lot of experience with this expert advisor and I feel I have traded it enough to give a deep opinion about it beyond the actual evidence provided by the authors on their website.

First of all, I have to say that I purchased shark because I considered it a likely profitable trading system. The system at the time seemed to have important live testing testing and backtesting performance that showed the expert to be profitable at least certainly from 2007 to 2008. Back live testing consistency was not perfect but it was good enough as to consider the backtesting, although over optimistic still predictive in someway about the experts profitability during past market conditions.

After purchasing this expert and trading it on several brokers and several demo and live accounts I have to say that I utterly and totally dissappointed. I have to say that through all the testing I have done on FXDD, FxLite, IBFX and FxClearing on demo and live accounts I have not been able to reproduce a single month of forward testing results from the people at forexeasystems. I loaded the EA following their instructions, always traded the latest updates but I could never reach, as a matter of fact, even a profitable single month. This expert advisor actually got a live accoutn down more than 30% once, traded on the same level of risk as the account shown on their website.

I dont know why this very important differences between my trading and their trading arises. I tried demo and live accounts on several brokers, and I have got the statements that show this to be absolutely true. However, as I said, I have never been able to reach a single month of profit with this EA. After about a year of trying I finally stopped trying on April when testing from February revealed loses every month and absolutely no correlation with their live or forward testing with my account having much larger loses. My newsletter susbcribers can take a look at this by accessing the trading results zip, located on the root of the ftp server in which the results for sharks trading are included.

I have to say, I would not recommend buying this to anyone as the unprofitability of this EA is absolutely evident to me after one year and half of trading it, as I said, on both demo and live accounts. If you would like to learn more about how you can evaluate expert advisors or how you can distinguish between long term profitable and unprofitable trading strategies 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 !

Forex Expert Advisors Forex Maestro an Unbiased Review

I recently received a pair of requests from website visitors who wanted my opinion on the "forex maestro" expert advisor system. The truth is that I had seen the website sometime in the past and my opinion about it now is exactly the same as it was then. Who the hell do they think they are selling these products to ? I mean, each time I write one of these reviews and each time I enter one of these websites I get the same feeling. Are they selling us something to invest with ? Or are they selling us a lottery ticket ?

The forex maestro website is yet another example of very fine marketing applied to a forex oriented product. Your welcomed to the webpage with claims that say " You Can Make $2 Million With Currency Trading" . This by itself is a direct hint at the market group these people are aiming at. Every expert advisor that states such claims is obviously aimed at new forex traders who want to make huge returns on investment. The website is carefully engineered towards people who are new to forex and investing altogether. The story itself about the guy feeling "desperate" and then realizing how to "profit" during his sleep sounds just like it was written to make the traders sympathetic towards the author.

But well, I always try to give expert advisors a chance, regardless of their very ethically lacking selling techniques. At first, from the claims made on the website, the system sounds definetely like a "scalper", there would be no other way to attain such a high winning percentage except by having a very large risk to reward ratio. This in my opinion is far from ideal. We also dont even get backtesting information as to evaluate the trading strategy, or the possible consistency, relability, draw down and other aspects of the trading system.

With all that said, I consider that the forex maestro system is absolutely not worth buying. The creator should provide much much more testing information, including live account information with investor access and a good amount of backtesting. I consider it insulting and deeply unethical how this people try to sell a system whose evidence of profitability is absolutely lacking. Finally, if you wish to learn more about other automated and free expert advisors systems I have tested 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 !

Forex Expert Advisors Forex Monster an unbiased Review

I have to say that it is very hard to keep up with everything that comes out everyday on the forex expert advisor market and I would really like to thank you guys for telling me about new experts that come out so that I may check them out and review them. Of course, I always hope that one of these systems will be able to go through my criteria for long term profitable profitability but I am still waiting for that to happen ! Now, I am going to review an expert advisor called forex monster, suggested to me by a person who left a message on the chat (it is on the bottom left of the webpage if you would liket o leave a message).

Well, forex monsters webpage greets us to what seems to be a part of a backtesting summary with a huge sign on top saying it can make you 500% profit, not mentioned the time it requires to do so. You should also look at how conviniently the part of the backtesting summary that shows the modeling quality is ommited, very convinient ! Also, why is there no access to the actual backtesting detailed statement ? Things are starting to look a little bit suspicious already.

Now this guy shows us 20 days of trading and calls it "proof" that the system can make a certain amount of profit, which is of course, completely absurd since first, we dont know if that is a backtesting statement, a forwards testing or a live testing statement. We dont know the rest and we certainly do not why the testing stopped there if that testing was done 8 months ago. I mean, if I was an EA seller and I wanted to sell my product, assuming Im telling the truth, I would want to have as much evidence as I can to support my claims. So why doesnt he show any more backtesting or live testing since at least January 2009 ? When this testing statement was issued ?

Looking at the statement there is nothing notoriously obvious about the trading logic that could make this system wipe your account. I could say that it would eventually fail when the market changes as position sizing and stop loss and take profit are rigid. However, this system is most probably geared to take profit of breakouts in high volatility environments, which is why I guess it worked at the beginning of the year when the market was terribly volatile because of all the market crisis. As you see, the system is obviously not a long term profitable system but saying how risky it is something I cannot do without more testing information.

This system is NOT worth buying clearly because the author does NOT show any information to backup his claims. He could get this information pretty easily if he really traded this expert advisor on his live accounts. Why not show us his account statements ? Well, the thing is that this person probably makes his money from selling that system to innocent victims and has never traded it live. If he has, he can show us all his statements with investor access so that we can confirm them and Ill be glad to say he is an honest seller who just happened to "miss" placing the proof on his website. Needless to say, why am I feeling this wont happen ?

If you would like to learn more about how you can evaluate expert advisors and how you too can profit with automated trading with realistic profit expectations and draw downs 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 !

Forex Expert Advisors Forex Knight Rider an Unbiased Review

Yesterday while searching the internet for new expert advisors I found a new trading system which I had not reviewed. This trading system, called Forex Knight Rider will be the focus of todays post. As with the other experts I have reviewed, today I am going to go through the forex knight rider website evaluating the authors claims against the evidence provided on the site. I will then analyze the evidence closely and give you my opinion about the potential of this expert for long term profitability and if it is or if it is not worth buying and testing. Please remember that my reviews are as unbiased as they can be as I get no reward for any positive or negative feedback on the expert advisor. I just call them like I see them.

If you are looking for the regular hyped website with absurd claims and little evidence, then you have found your match with forex knight rider. The EA starts up with some bold claims of making 28K within three months from 50K, that is, a profit higher than 50% in just three months. What is there to back up the claims made by these people ? Actually the claims are only based on backtesting results. The problem with this is that backtesting results coming from EA sellers cannot be trusted because there are too many ways in which backtesting can be exploited to achieve these unrealistic results. This is specially true when you look at the EA trading strategy which involves closing trades within a 4-6 pip range. Closing trades on such a small movement WILL generate some serious problems due to one minute interpolation errors. Since they do not show us any live tests to show back/live testing consistency then we have no other choice but to consider the back tests unreliable. Why they make claims of real profit based on simulation simply eludes me as this is extremely misleading and borderline illegal.

The things we are shown after this just go off the charts of hype and wrong doing of commercial EA sellers. Useless pictures of trades and best of all, some "testimonials" with "live" accounts to which there is no investor access to confirm or any myfxbook access that could also confirm their authenticity. Another reason to believe that these live tests are fake is pretty obvious. See Tony Alberto from Canada ? Well, he is more well known in the internet as "Close-up office portrait of a young man". What a joke ! Why do they treat us like we were retarded ? We can also search for royalty free images and find their fake pictures of their fake testimonials ! Present FTC regulations forbid the use of fake pictures to represent clients so what they are doing IS illegal according to US regulations.
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Forex Knight Rider is nothing more than an extremely hyped EA with unethical marketing practices that has absolutely no hard evidence to backup its claims. Another very good example of how things should NOT be done in business. For all the lack of evidence to show any profitability or likehood of long term profitability I consider the forex knight rider NOT worth buying or testing. If you would like to know more about the way in which I evaluate expert advisors and how you too can design and program long term profitable systems with reliable 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 !

Trading the Turtle System in Forex using an ea in mt4 Part Two The Ea

In the first part of this post I gave a little introduction into the turtles trading system and some insights into its money management technique. From now on, I will start to talk about its entry and exit strategies as well as its pyramiding characteristics.

If you read the pdf (there is a link to it in the last post) that details the whole turtle trading system, you will notice that the system follows breakout strategies with a pyramiding approach in order to exploit the trend. This strategy ensures that the system gets a very high profit when a large trend is caught and also tries to minimize the risk associated with ranging markets. This is specially profitable in long time frames.

You should have also noticed that the Turtle technique has two different systems, No.1 and No.2. We are going to trade the system using the No.2 trading system with an 2N stoploss and an exit strategy based on the 20 day breakout signal. This of course, with the corresponding pyramidying tecnique with a maximum value of 3 units trading at any given time.
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The expert advisor we will be using can be found here (an image of the trading expert is shown above). It accurately represents the way in which the system works, following the exact entry and exit rules described in the manual for the No.2 trading system, make sure you set the LockingProfit option to false as this is an implementation not true to the original turtle system (remember to demo test to see if you feel confortable with this system before using real money). However, the lot size needs to be adjusted weekly following the instructions given during the first part of this article. I have also started testing this system in a demo account using the EUR/USD daily chart. People who have joined the mailing list will also receive statements and weekly comments on this system.

If you would like to learn more about other free and commercial expert advisors I have 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 !

Tradeways Pallada 3 4 System an Unbiased Review

One of the systems I have been asked the most to look into was the Pallada system made by the tradeways company. I had not written a review about it before because the semi automated nature of it made it much less systematic to test and trade but after getting to know this system for a couple of months I think I can now confidently give my honest unbiased opinion about it.

The system has many indicators to it and it also has several entry and exit criterias. My first impression about the indicators is that, even though they are nothing that I would consider revolutionary, they do put a lot of information consistently on the screen. My best guess would be that some indicators are oscillator based while others are certainly based on lagging indicators of some sort. The Pallada system has the virtue of putting you inside all the winning trades with the outmost deffect of making you give most of your profits back on large moves when quick retracements happen.

Another fact is that having several possible exit criteria leaves a lot in the mind of the trader. Which criteria you use and how you actually handle your positions makes the difference between trading Pallada profitably or failing miserably. Of course, this kind of thing is what precisely makes the Pallada system impossible to fully automate. I coded an ea based on the exact entry rules given by the Pallada manual and I realized that things changed enormously depending on the exit criteria, but regardless of what I did, most of the time I was giving back all the money I won on the big trades on the ranging periods that followed.

In my opinion, the Pallada system is not a bad trading system. I know people who trade their indicators and are successfully using them to make money. Now, this system has performed very good for the past year (according to my backtesting using the ea I programmed) so you should not expect bad comments from people who have been recently trading the system.

Anyway, I think that the Pallada system is far from a "sure" solution that you can follow blindly and become profitable. The Pallada system reflects the nature of the trader, if you are profitable with their system, then you will most likely be profitable with other good manual trading systems. If you are not, then you probably need to work on your trading. Needless to say, there is no way in which you can make money in the forex market without having a decent education about it.

The Pallada system gives its users a good opportunity to become profitable in the market. It is not a blackbox solution, it is a tool to help forex traders succeed. If you prefer automated trading solutions and would like to learn more about profitable free and commercial 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 !