Today's post will be focused on the review of yet another automated trading system which was pointed out to me by a fellow trader a few weeks ago. This system is called forex conqueror and is said by the creators that it is a Consistent, profitable forex automated trading system. In the following few paragraphs I will try to give you my opinion on this expert advisor based on the evidence and descriptions provided by the author.
First of all, let me say that this expert advisor's sale page suffers from some very serious problems. The website starts by giving out some very misleading information relating to profits. It says you can make certain quantities of money in several periods of time but no mention of account size requirements is given. That is, making 18K in a week with 10 million is a small win while with 1K is extremely unrealistic so talking about profit targets without mentioning account equity is just meaningless.
Then it has the boldness to say "Performance guarantee - Indisputable proof below". Well, it seems extremely unlikely that a PhD in computer science (as he says his business partner is) would agree to put such a bold statement in a front page when he should note that the evidence given is extremely subject to dispute. For example, backtesting statements are not given in a complete fashion (only shots of parts of the statements are shown) and absolutely no long term statements or statements that can be compared to backtesting are shown. Sure, anyone can make 5000 with two trades, how many can keep that after a year of trading ? The forex market is not about that at all, it is about keeping your profits, anyone can just make that much money in two or three trades out of luck.
The forex conqueror EA is just a dissappointment. There is no evidence at all to prove the authors claims since the extremely little evidence he gives a) cannot be confirmed b) is not complete and c) does not support all the claims. For example, he says his system can trade under any market condition (again, a very bold statement) but there is no live trading information that can confirm this. I have to say, this system is absolutely NOT worth buying. The evidence to support the author's claims simply does NOT exist. For all we know, the system could be curve fitted to give good results in backtests and it could be failing astronomically right now in live testing. Again, buying this system would be, in my opinion, a huge mistake with the current state of proof provided by the author. As always, I would be glad to change this if long term live testing (which he actually says he HAS on the webpage) is included on the sales page and access to the live account with an investor access password is given. Meanwhile, in my opinion, thi is just part of the ton of low tested, useless expert advisors out there.
If you would like to learn more about realistic profit and draw down targets in the forex market and how you too can use automated trading systems to achieve profitable real results 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 !
First of all, let me say that this expert advisor's sale page suffers from some very serious problems. The website starts by giving out some very misleading information relating to profits. It says you can make certain quantities of money in several periods of time but no mention of account size requirements is given. That is, making 18K in a week with 10 million is a small win while with 1K is extremely unrealistic so talking about profit targets without mentioning account equity is just meaningless.
Then it has the boldness to say "Performance guarantee - Indisputable proof below". Well, it seems extremely unlikely that a PhD in computer science (as he says his business partner is) would agree to put such a bold statement in a front page when he should note that the evidence given is extremely subject to dispute. For example, backtesting statements are not given in a complete fashion (only shots of parts of the statements are shown) and absolutely no long term statements or statements that can be compared to backtesting are shown. Sure, anyone can make 5000 with two trades, how many can keep that after a year of trading ? The forex market is not about that at all, it is about keeping your profits, anyone can just make that much money in two or three trades out of luck.
The forex conqueror EA is just a dissappointment. There is no evidence at all to prove the authors claims since the extremely little evidence he gives a) cannot be confirmed b) is not complete and c) does not support all the claims. For example, he says his system can trade under any market condition (again, a very bold statement) but there is no live trading information that can confirm this. I have to say, this system is absolutely NOT worth buying. The evidence to support the author's claims simply does NOT exist. For all we know, the system could be curve fitted to give good results in backtests and it could be failing astronomically right now in live testing. Again, buying this system would be, in my opinion, a huge mistake with the current state of proof provided by the author. As always, I would be glad to change this if long term live testing (which he actually says he HAS on the webpage) is included on the sales page and access to the live account with an investor access password is given. Meanwhile, in my opinion, thi is just part of the ton of low tested, useless expert advisors out there.
If you would like to learn more about realistic profit and draw down targets in the forex market and how you too can use automated trading systems to achieve profitable real results 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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