A little bit more than 5 weeks ago I decided that I would start reviewing as many commercial expert advisors as I could in order to potentially save several people from wasting their money on most likely unprofitable or bad expert advisor systems. One of the systems that I have been asked to review is the trend tracer expert advisor.
Well, I have something very simple to say, in my opinion, this is as bad as it gets. The expert advisor is sold in the classical cheesy website used to trap novice forex retail traders and shows a bunch of "testimonials" and backtesting information so as to prove to the buyer that the system is profitable. The system claims to increase an account balance 10 times in the course of two years.
Looking a little bit closer at the forex tracer back testing information one can quickly realize several things. The first one is that the expert's testing is conveniently narrowed to a two year period which is tarted oddly in June 2006, why didn't they start the backtesting in January ? Or do the test since 2000 or 2004 ? The answer to this questions is most likely what it always is. The expert advisor fails to show a pretty equity curve during those periods and including them would most likely be detrimental to the expert's sales.
The Forex Tracer expert advisor is also evidently a scalper with it's outrageous risk to reward ratio of 10:1. This is the absolute mark of a system that will eventually wipe an entire account out. The expert advisor needs to win 10 times in order to recover from a single loss. Of course, this does not deem the system as unprofitable but in my opinion, this trading tactic is used to cover for a system that has very bad entries. When you enter the market and want a very small amount of profit you can greatly benefit from random market movements, hence, expert advisors that have very poor logic often have very high risk to reward ratios.
Their "forward testing" is also a joke with just a few positions showing on a metatrader history screenshot. What expert advisor in the world does not have a winning streak eventually ? This is absolutely no evidence of profitability, what a person needs is extensive back and live testing with access to a live account with investor password.
I would consider this expert advisor not worth buying as the author does not provide enough evidence to even consider the expert advisor profitable. If you would like to learn more about which commercial and free expert advisors I have tried 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 !
Well, I have something very simple to say, in my opinion, this is as bad as it gets. The expert advisor is sold in the classical cheesy website used to trap novice forex retail traders and shows a bunch of "testimonials" and backtesting information so as to prove to the buyer that the system is profitable. The system claims to increase an account balance 10 times in the course of two years.
Looking a little bit closer at the forex tracer back testing information one can quickly realize several things. The first one is that the expert's testing is conveniently narrowed to a two year period which is tarted oddly in June 2006, why didn't they start the backtesting in January ? Or do the test since 2000 or 2004 ? The answer to this questions is most likely what it always is. The expert advisor fails to show a pretty equity curve during those periods and including them would most likely be detrimental to the expert's sales.
The Forex Tracer expert advisor is also evidently a scalper with it's outrageous risk to reward ratio of 10:1. This is the absolute mark of a system that will eventually wipe an entire account out. The expert advisor needs to win 10 times in order to recover from a single loss. Of course, this does not deem the system as unprofitable but in my opinion, this trading tactic is used to cover for a system that has very bad entries. When you enter the market and want a very small amount of profit you can greatly benefit from random market movements, hence, expert advisors that have very poor logic often have very high risk to reward ratios.
Their "forward testing" is also a joke with just a few positions showing on a metatrader history screenshot. What expert advisor in the world does not have a winning streak eventually ? This is absolutely no evidence of profitability, what a person needs is extensive back and live testing with access to a live account with investor password.
I would consider this expert advisor not worth buying as the author does not provide enough evidence to even consider the expert advisor profitable. If you would like to learn more about which commercial and free expert advisors I have tried 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 !
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