Monday, October 5, 2009

Forex Expert Advisors : Forex Nemesis an unbiased review

Today I am going to dedicate this post to the review of another forex expert advisor I have found called forex nemesis. As always, my idea is to evaluate the claims on their website based on the evidence provided by the author. After this I'll give my opinion about whether this system is or is not worth buying and testing. This review, as all others is as unbiased as it can be as I get no compensation for either negative or positive comments on the software.

To begin with, the forex nemesis website looks like the regular sales pitch website we get for most commercial expert advisors. The claims made on the website are absolutely misleading and totally meaningless. As an example, the firs claim on the website says that the software is able to generate more than 4 thousand dollars everyday but again, this is totally meaningless since no reference is made to the capital necessary to achieve this goal. Then the website is plagued with similar claims giving profit sums with absolutely no mention of the necessary capital to achieve this. I have to say, it is pretty bad to prey on people with this kind of tactic just making them believe they can achieve this profit sums with no mention of the necessary investments or the risk level reached.

As for the claims made, there is absolutely NO proof on the website that leads to believe that they are true. What this website calls "proof" of profit are just very limited backtests and pictures of trades which hold absolutely no meaning or proof of long term profitability. This is just one of the many expert advisors out there trying to fool people with this very limited and meaningless "evidence". The backtests cannot be even taken into account because there is absolutely no live testing we can compare them to to make sure there is no exploitation of backtesting vulnerabilities.

Long story short, this expert advisor is absolutely NOT worth buying and joins the ranks of most other expert advisors sellers out there that try to sell expert advisors by making absurd claims with unrealistic profit targets that they CANNOT backup. If you would like to learn more about how you can design and program your own long term profitable system or trade an already long term profitable system 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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