People who have read my recent posts about Fx-Gtc (forex global trading company) and their Evolution EUR/JPY system, may know now that I do not like this expert advisor developing company and that I felt mistreated (not to say stolen from) as they changed their refund policies and refused to even answer my emails sent regarding the refund I had the right to (as it is explained in an earlier post).
Nonetheless, I decided to put some effort into analyzing this company's series of expert advisors marketed under the Xtreme brand as they are of interest to many traders out there. These expert advisors are targeted towards the EUR/GBP and EUR/CHF forex pairs. They are mainly of a scalping nature, so to speak, with a very risk to reward ratio of about 10:1. That said, you must win 10 positions in order to cover a single loss (which does not necessarily imply unprofitableness as this system can be profitable if it's winning percentage is high enough).
The main problem with these systems is that the pairs they trade and the type of systems in use make the influence of changing from a demo to a live account terribly bad. For example, an ea like this one is very dependent on things like slippage, spread and order filling. When trading a pair like the EUR/GBP, going from a spread of 3 to a spread of 5 can diminish the profitability of an ea by 80%. Moreover, if the ea's orders are not filled or if there is spread widening, the ea will go from being profitable to wiping an account. In my honest opinion, all this type of systems that have high risk to reward ratios and trade pairs like the EUR/GBP in small movements are much likely to be unprofitable and very likely to perform very differently depending on the broker.
In order for me to even consider buying software like this, I would need at least a one year old LIVE account. Demo accounts (like the ones on their website probably are) won't work well with these experts as results are likely to be much better in demo versus live due to all the above mentioned circumstances. For these reasons, I would not buy any of the Xtreme expert advisors by Fx-Gtc (forex global trading company). Even though the company by itself has the worst customer service I have ever experienced, I still have given my opinion on the sole expert advisor systems, customer service aside.
Now, there are better options for expert advisor trading systems, both free and commercial, out there, if you would like to learn more about this options as well as more about fx-gtc trading systems such as Evolution EUR/JPY, 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 !
Nonetheless, I decided to put some effort into analyzing this company's series of expert advisors marketed under the Xtreme brand as they are of interest to many traders out there. These expert advisors are targeted towards the EUR/GBP and EUR/CHF forex pairs. They are mainly of a scalping nature, so to speak, with a very risk to reward ratio of about 10:1. That said, you must win 10 positions in order to cover a single loss (which does not necessarily imply unprofitableness as this system can be profitable if it's winning percentage is high enough).
The main problem with these systems is that the pairs they trade and the type of systems in use make the influence of changing from a demo to a live account terribly bad. For example, an ea like this one is very dependent on things like slippage, spread and order filling. When trading a pair like the EUR/GBP, going from a spread of 3 to a spread of 5 can diminish the profitability of an ea by 80%. Moreover, if the ea's orders are not filled or if there is spread widening, the ea will go from being profitable to wiping an account. In my honest opinion, all this type of systems that have high risk to reward ratios and trade pairs like the EUR/GBP in small movements are much likely to be unprofitable and very likely to perform very differently depending on the broker.
In order for me to even consider buying software like this, I would need at least a one year old LIVE account. Demo accounts (like the ones on their website probably are) won't work well with these experts as results are likely to be much better in demo versus live due to all the above mentioned circumstances. For these reasons, I would not buy any of the Xtreme expert advisors by Fx-Gtc (forex global trading company). Even though the company by itself has the worst customer service I have ever experienced, I still have given my opinion on the sole expert advisor systems, customer service aside.
Now, there are better options for expert advisor trading systems, both free and commercial, out there, if you would like to learn more about this options as well as more about fx-gtc trading systems such as Evolution EUR/JPY, 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 !
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