My eye turns again today towards the review of a new automated trading system. Two people have talked to me about this EA and wanted me to give my unbiased opinion about this trading system. My objective with this post is to write a review of this new expert advisor and in particular, to evaluate the claims made by the author against the evidence provided to determine if this trading system is worth or not worth buying and testing.
First of all, lets see what the creator of the forex apocalypse system has to say about its trading and what he says the EA can achieve. This guy claims without any worries that the EA can turn 3K into 170K USD and other similar profit targets. I can say that this things never seem to get old. Why do this expert advisor sellers keep on making this extraordinarily bold claims they CANNOT backup ?
Let us look at the evidence provided what the authors. A bunch of backtests and graphs. I am absolutely sorry, but a backtest is absolutely NO evidence of the profitability of an EA without live testing to prove it's consistent. It could just be that he made an EA that used bar closes on actual bars and could look into the future or he exploited one minute interpolation or one of the many other things he could do to make a system trade profitably when it does not. How do we know this is not the case ? We simply don't. However the large profits with the reduced draw downs hints towards an explotation of backtesting failures, also, the fact that ANY live testing is missing also hints to this fact.
Come on, you must be kidding us. We are NOT retarted and we will not buy a trading system based on evidence we could make ourselves in 5 minutes. I could make a system that had those profits in backtesting and draw some charts on metatrader to look like those. There is ABSOLUTELY NO CONSISTENT EVIDENCE that can backup ANY of the claims this guy is making. This puts forex apocalypse into the sadly LARGE amount of totally worthless expert advisors out there.
Needless to say, this expert advisor is in my opinion, totally NOT worth buying. If you would like to learn more about how you can learn to evaluate, build and program your own automated trading systems or trade already freely available long term profitable systems in the forex market 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 !
First of all, lets see what the creator of the forex apocalypse system has to say about its trading and what he says the EA can achieve. This guy claims without any worries that the EA can turn 3K into 170K USD and other similar profit targets. I can say that this things never seem to get old. Why do this expert advisor sellers keep on making this extraordinarily bold claims they CANNOT backup ?
Let us look at the evidence provided what the authors. A bunch of backtests and graphs. I am absolutely sorry, but a backtest is absolutely NO evidence of the profitability of an EA without live testing to prove it's consistent. It could just be that he made an EA that used bar closes on actual bars and could look into the future or he exploited one minute interpolation or one of the many other things he could do to make a system trade profitably when it does not. How do we know this is not the case ? We simply don't. However the large profits with the reduced draw downs hints towards an explotation of backtesting failures, also, the fact that ANY live testing is missing also hints to this fact.
Come on, you must be kidding us. We are NOT retarted and we will not buy a trading system based on evidence we could make ourselves in 5 minutes. I could make a system that had those profits in backtesting and draw some charts on metatrader to look like those. There is ABSOLUTELY NO CONSISTENT EVIDENCE that can backup ANY of the claims this guy is making. This puts forex apocalypse into the sadly LARGE amount of totally worthless expert advisors out there.
Needless to say, this expert advisor is in my opinion, totally NOT worth buying. If you would like to learn more about how you can learn to evaluate, build and program your own automated trading systems or trade already freely available long term profitable systems in the forex market 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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