Today I'll continue my series of forex automated trading system reviews with a system that I as asked to review by two newsletter subscribers and a few people who have left messages on my website's chat. Again, I thank everyone who takes the time to look out for systems and give me hint. This makes it much easier for me to actually find new systems and review them according to the evidence shown by the authors. This review will focus on the evaluation of the forex decimator expert advisor, again, I will review this expert based on the evidence provided by the authors. This, as all my reviews, is as unbiased as it can get as I don't receive any profit from either positive or negative comments on any of the trading systems I review.
Lets start by reviewing the first claim the author makes we start to look at his or her website. The first thing we get is a big sign saying "29 Year Old Forex Geek Designs Ruthless Autopilot Forex Robot Proven To Turn $10,000 Into $100,000 With Less Than 10 Minutes Work Per Week"... Really ? I think that the creators of forex decimator need to take some classes in english as the meaning of the word "proven" seems to be a little bit blurry in their minds.
Proven, as far as I know, is when a fact does not come out to be false in the light of all possible testing that can be done against it. That is, if every possible test that could be done does not go against the claim, then, and only then, can the author say proven and even then, there is the possibility that a future test (for example future trading) will make the statement void.
Now, what in the world is this evidence for this "proven" system ? Well, nothing actually ! The author offers very little evidence of the expert's performance but yet, he or she does not go light when it's time to make claims. The author shows some backtesting which is totally useless because we don't have access to the backtesting statement something which does not let us evaluate the possibility of one minute interpolation errors or the extension of the tests. So all this evidence is rubbish.
Then, the "live trades" are just a simple table showing some values. This could have just been made in excel and placed on the website. How in the world are we supposed to know this is real ? There is not even a single live or demo account statement on the website really showing us how the expert trade, how it has performed in the past or if it's live and back testing performance do not match. This is, a total waste of anyone's time. I would have to say to this website's creator that his customers are not retarded and that saying that something is proven when it is NOT is unethical and maybe even bordering unlawful.
Of course, this system is NOT worth buying and the author would have to provide much more evidence like a backtest from 1999 with statements and at least a year long live testing to even consider this worth buying. If you would like to learn more about how you can profit in the world of automated trading 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 !
Lets start by reviewing the first claim the author makes we start to look at his or her website. The first thing we get is a big sign saying "29 Year Old Forex Geek Designs Ruthless Autopilot Forex Robot Proven To Turn $10,000 Into $100,000 With Less Than 10 Minutes Work Per Week"... Really ? I think that the creators of forex decimator need to take some classes in english as the meaning of the word "proven" seems to be a little bit blurry in their minds.
Proven, as far as I know, is when a fact does not come out to be false in the light of all possible testing that can be done against it. That is, if every possible test that could be done does not go against the claim, then, and only then, can the author say proven and even then, there is the possibility that a future test (for example future trading) will make the statement void.
Now, what in the world is this evidence for this "proven" system ? Well, nothing actually ! The author offers very little evidence of the expert's performance but yet, he or she does not go light when it's time to make claims. The author shows some backtesting which is totally useless because we don't have access to the backtesting statement something which does not let us evaluate the possibility of one minute interpolation errors or the extension of the tests. So all this evidence is rubbish.
Then, the "live trades" are just a simple table showing some values. This could have just been made in excel and placed on the website. How in the world are we supposed to know this is real ? There is not even a single live or demo account statement on the website really showing us how the expert trade, how it has performed in the past or if it's live and back testing performance do not match. This is, a total waste of anyone's time. I would have to say to this website's creator that his customers are not retarded and that saying that something is proven when it is NOT is unethical and maybe even bordering unlawful.
Of course, this system is NOT worth buying and the author would have to provide much more evidence like a backtest from 1999 with statements and at least a year long live testing to even consider this worth buying. If you would like to learn more about how you can profit in the world of automated trading 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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