Wednesday, October 21, 2009

Forex Expert Advisors : Forex Infinity Pro, an Unbiased Review

Yesterday we saw the release of the "latest" in expert advisors with the arrival of the forex infinity pro automated trading system. Since this EA has just come out I decided to dedicate today's post to its review with the hope that people will find an unbiased opinion on this trading system (really hard to get an unbiased review when this people offer a 58.20 USD per sale affiliate comission). As always my review will focus on the claims made by the authors and their ability to test them through the evidence they provide. After analyzing this evidence against their claims I will then give my opinion about whether or not this expert advisor is worth buying or testing.

The forex infinity pro website, just like most websites out there targeting to cell expert advisors, is filled with hype and non sense aimed at the attraction of new and inexperienced forex traders who are probably just the average Joe trying to catch a break from his or her current financial situation. The claims made by the forex infinity pro authors are nothing short of imprecise, outrageous and misleading. For example, this people claim that the expert is able to generate anywhere from 400 to 900% profits in trading.

Now, all these profits and great results are of course, as you would expect, a result of backtesting. The backtests are also something worth mentioning, they are absolutely precarious with only 5 month testing periods, this of course, hints that the EA didn't probably give such a "nice" equity curve during the past or following months. The authors claim the EA works under "every market condition" however, they never show the expert being tested in a ten year period in which a considerable number of different market conditions did happen. Backtesting however is absolutely meaningless in this case because the forex infinity pro authors do not provide long enough live tests coupled with backtests that we can use to see if the expert is or is not backtesting consistent.

This trading system's description made me laugh. The statements are totally misleading, they don't say anything. Like, "advanced risk protection", what does this mean ? Nothing ! advanced does not necessarily mean good and conservative, it just means nothing, for what I know, advanced risk protection could be anything. How about "built in money management with loss prevention" and how does it prevent the loses ? This also does not mean anything. For example, having no stop loss is a loss prevention mechanism and it will totally wipe an account in the long term.

The people at forex infinity pro do the same thing EA sellers have been doing for the past year, they are treating us like we were retarded. They are screaming this outrageous claims they have no solid evidence to backup, they are saying their system works on every market condition when they don't have any evidence to show it, well, according to my review today, the forex infinity pro falls just into the old bucket with all the other expert advisors that aren't worth a penny. If they want to change my opinion, they are welcome, show me a 9 year backtest from 2000 and a six month live testing statement showing consistency with backtesting and I will test this EA myself. Meanwhile, we all know the reason why this evidence doesn't show.

Again, this forex infinity pro is, in my opinion, totally NOT worth buying or testing. If you would like to learn what has to be done to have a really profitable expert in the forex market and what profit and risk targets are truthfully realistic 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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