Today I am putting my thinking cap on again to review another forex automated trading product by request of my customers and website visitors. This time, the product I will be reviewing is called forex funnel and is offered at forexfunnel.com. I think this expert advisor is a perfect example of all the things I abhor about forex expert advisor sellers.
A first look at their website reveals that they are targeting the easiest prey : new forex retail traders which don't know nothing about automated trading systems and are looking for a fast way to increase their capital. The website makes absurd claims, making excessive amounts of money from very small initial investments. To me, this site is completely unethical. It never explains the risks of forex trading (oh yes, they do have the disclaimer at the end of their page in font size 2), the unreliability of backtests, etc.
Now, to add insult to injury, they do not show any realiable evidence of their claims. Their best evidence is a backtest which I can beforehand say is a consequence of one minute interpolation errors. In fact, all backstests that show this type of profit are an exploit of backtesting failures (that is my experience until now). This website treats us like we really don't have the slighest idea of what we are doing and are not even intelligent enough to look for live testing information. This expert advisor is light years away from being worth buying. I would expect at least, as with any other expert, live account statements with investor access.
Again, I am very glad I can express my opinions on these ea sellers who try to sell us systems that are unproven and that will most likely wipe out our trading accounts. They should treat us like investors and not like lottery ticket buyers. Tell us the reward, the risks, the reality, please don't insult our intelligence.
If you liked this review and would like to learn more about commercial expert advisors I have bought as well as free expert advisors I have traded 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 !
A first look at their website reveals that they are targeting the easiest prey : new forex retail traders which don't know nothing about automated trading systems and are looking for a fast way to increase their capital. The website makes absurd claims, making excessive amounts of money from very small initial investments. To me, this site is completely unethical. It never explains the risks of forex trading (oh yes, they do have the disclaimer at the end of their page in font size 2), the unreliability of backtests, etc.
Now, to add insult to injury, they do not show any realiable evidence of their claims. Their best evidence is a backtest which I can beforehand say is a consequence of one minute interpolation errors. In fact, all backstests that show this type of profit are an exploit of backtesting failures (that is my experience until now). This website treats us like we really don't have the slighest idea of what we are doing and are not even intelligent enough to look for live testing information. This expert advisor is light years away from being worth buying. I would expect at least, as with any other expert, live account statements with investor access.
Again, I am very glad I can express my opinions on these ea sellers who try to sell us systems that are unproven and that will most likely wipe out our trading accounts. They should treat us like investors and not like lottery ticket buyers. Tell us the reward, the risks, the reality, please don't insult our intelligence.
If you liked this review and would like to learn more about commercial expert advisors I have bought as well as free expert advisors I have traded 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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