Sunday, August 30, 2009

Forex Expert Advisors : Forex Revolver an unbiased review

Today I decided to talk about a trading system that I found a small while ago while I was searching for new expert advisors out there on the market. This expert advisor is called Forex revolver. This post will focus on the review of this trading system based on all the evidence provided by the authors. Again, this review is unbiased as it can be as I get nothing for giving either positive or negative comments about this expert advisor. Now let's get into the review of this forex automated trading system.

This website is very confusing for me since the expert advisor creator is always going into the effort of trying to convince people they can make massive amounts of money from the expert. In general I think that expert advisor creators should never use absolute money terms when talking about the profit of an expert advisor because this terms are all relative to account size and risk. For example, saying that an EA can make 50,000 in three trades means nothing since this would be small on a 10 million dollar account, yet extremely large in a 200,000 account. So expert advisor sellers should be careful about this because it can confuse the buyers (which I would like to think is not the objective).

Now, this is all the website gives us... There is absolutely no information that can back up any of the author's claims. Not even backtesting, live or forward testing. The author speaks about some graphs as "proof" but this in no way can show you that the expert can perform as the author advertises nor can they show you this behavior is sustainable in the long term. As far as I can tell, this system is absolutely not worth buying since the author offers absolutely no proof, not even the most basic back and live testing information needed to even assess if the expert has the necessary qualities for a system to be even considered for long term profitability.

If you would like to learn more about evaluating systems and how to finally start to profit with forex automated trading with realistic profit and draw down targets 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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