I often read and go through a lot of expert advisor's websites with all their absurd claims, marketing techniques and poorly made points and I have to say that I am no longer surprised by the large amount of systems out there that follow this scheme. This makes me worry everyday a little more about all those out there who are looking for truly honest opinions about these systems and this is the main reason why I try to review most systems that you guys tell me about. Today I am going to focus on the Forex Cash Detective expert advisor.
The website is pretty the usual stuff, which I have said many times, does NOT make me judge an expert before looking at it's actual trading evidence. I never judge an expert based on the website or what the website says, I judge them by the evidence they portray and how what the trading statements actually say about the system's logic and the amount of market exposure and risk it will put on your trading accounts.
Now, this system is one of the most bald faced I have ever seen and for this reason I decided to take this guys claims (at the end of the webpage) one by one and tear them apart. According to the creator this are the characteristics of his system :
Hand you the keys to the kingdom - my personal proven, time-tested, and cash-generating trading systems, strategies, tactics. -> This is a total lie since there is no proof about this in the whole website. There are no live testing statements that backup such a claim. I mean, we are not stupid and we can know that if there are no accounts showing profits and draw downs there is no way in which you may have made it "proven and time-tested". If it is really that profitable, the creator would be glad to show us the statements. Guess why he is not ?
Show you exactly how to potentially earn hundreds, even thousands of dollars per trade...-> Probably more tell you how to lose thousands of dollars per trade. The word "potentially" says it all, I also can tell you how you can potentially make a million dollars in a casino. This statement is just misleading.
Practically force you to earn an easy, consistent income from forex trading - even if you've never traded before...-> This is total non sense. If you have never traded before and start using an automated trading system you don't understand, you will probably wipe out your account. Even if you use a long term profitable automated trading system, it is bound to happen. I clearly outline all the reason for it on my ebook.
Obliterate all emotions and eliminate all the guesswork from your trading...-> This is a good one ! Automated trading has AS MUCH or much more emotions to it than regular manual trading. People seem to forget this since many EA sellers mislead them this way. I also explain on my ebook all the psychological aspects of automated trading and the toll they will take on you as a trader !
This hands-off, consistently profitable system will puts cash in your pockets, every single day...-> This is a terribly BOLD, UNPROVEN statement. How can he say this if there isn't a single trading statement that can show profits everyday showing that these claims are true. He is just saying it for the sake of it, something which is obviously not true. It is not proven and there is NOTHING on the website that backs this up.
As you can see, the forex cash detective system is just a bunch of hype with absolutely no proof, just a bunch of graphs which as far as we know can be simply made up using the trading platform. Again, I know and I understand that it is very easy to be misled in the world of fx automated trading with all the sweet words they put on your ears, but again, you have to be very careful about the systems you intend to buy and how you evaluate them.
If you would like to learn more about how to evaluate expert advisors and what characteristics you should look for in a long term profitable trading system 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 !
The website is pretty the usual stuff, which I have said many times, does NOT make me judge an expert before looking at it's actual trading evidence. I never judge an expert based on the website or what the website says, I judge them by the evidence they portray and how what the trading statements actually say about the system's logic and the amount of market exposure and risk it will put on your trading accounts.
Now, this system is one of the most bald faced I have ever seen and for this reason I decided to take this guys claims (at the end of the webpage) one by one and tear them apart. According to the creator this are the characteristics of his system :
Hand you the keys to the kingdom - my personal proven, time-tested, and cash-generating trading systems, strategies, tactics. -> This is a total lie since there is no proof about this in the whole website. There are no live testing statements that backup such a claim. I mean, we are not stupid and we can know that if there are no accounts showing profits and draw downs there is no way in which you may have made it "proven and time-tested". If it is really that profitable, the creator would be glad to show us the statements. Guess why he is not ?
Show you exactly how to potentially earn hundreds, even thousands of dollars per trade...-> Probably more tell you how to lose thousands of dollars per trade. The word "potentially" says it all, I also can tell you how you can potentially make a million dollars in a casino. This statement is just misleading.
Practically force you to earn an easy, consistent income from forex trading - even if you've never traded before...-> This is total non sense. If you have never traded before and start using an automated trading system you don't understand, you will probably wipe out your account. Even if you use a long term profitable automated trading system, it is bound to happen. I clearly outline all the reason for it on my ebook.
Obliterate all emotions and eliminate all the guesswork from your trading...-> This is a good one ! Automated trading has AS MUCH or much more emotions to it than regular manual trading. People seem to forget this since many EA sellers mislead them this way. I also explain on my ebook all the psychological aspects of automated trading and the toll they will take on you as a trader !
This hands-off, consistently profitable system will puts cash in your pockets, every single day...-> This is a terribly BOLD, UNPROVEN statement. How can he say this if there isn't a single trading statement that can show profits everyday showing that these claims are true. He is just saying it for the sake of it, something which is obviously not true. It is not proven and there is NOTHING on the website that backs this up.
As you can see, the forex cash detective system is just a bunch of hype with absolutely no proof, just a bunch of graphs which as far as we know can be simply made up using the trading platform. Again, I know and I understand that it is very easy to be misled in the world of fx automated trading with all the sweet words they put on your ears, but again, you have to be very careful about the systems you intend to buy and how you evaluate them.
If you would like to learn more about how to evaluate expert advisors and what characteristics you should look for in a long term profitable trading system 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 !
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