A few days ago, a customer suggested I reviewed the forex trend scalper expert advisor. Since I had never come across this trading system I decided to dedicate today's post to its analysis. As always, I will analyze the claims made on the web page against the evidence provided by the authors and this way I will be able to say if, in my opinion, this expert advisor system is worth buying and testing or if it is not. The forex trend scalper system only claims to make money everyday in a consistent fashion, lets see if this is proved by the evidence.
When you arrive at the forex trend scalper's website you are greeted with what I would call an average EA website. However, the author of the trading system did a good job at limiting the amount of outrageous claims and instead provided a short list of rather simple ones. The only one which says anything about trading states that this system can "make money" everyday for the trade. No claims at all are done about the amounts of profits that can be generated, the risk:reward ratio, the maximum draw down, etc. This will lead people to over estimate the profitability and underestimate the risks of trading this system as risk is not brought up anywhere within the sales page.
Even though there are no claims of "profit targets" we do see across the web site several places where people say that forex trend scalper is generating them 5 and 6 figure incomes. If this was the case, as the author says its the case for himself, then why wouldn't he show us his live statements showing he has made a living from the forex trend scalper ? Well, probably, as in most cases, this claims are just made up and hold no place in the real world.
As for the actual long term profitability of this trading system, all the evidence that is provided is a few months of live testing. There are no backtesting statements and therefore no way to compare with live testing and gauge longer term profitability. From the live statements I can tell that the EA is our regular EUR/GBP scalper. This type of experts seem to have thrived after the sales success of the FAP turbo expert advisor.
Since we lack any way to verify the long term profitability of the expert, a three month live test is too short and the scalping of the EUR/GBP is very dependent on broker spreads and broker feeds I consider this expert advisor NOT worth buying. If you would like to know what I think about commercial experts, why most of them fail and how you too can trade free long term profitable trading systems 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 !
When you arrive at the forex trend scalper's website you are greeted with what I would call an average EA website. However, the author of the trading system did a good job at limiting the amount of outrageous claims and instead provided a short list of rather simple ones. The only one which says anything about trading states that this system can "make money" everyday for the trade. No claims at all are done about the amounts of profits that can be generated, the risk:reward ratio, the maximum draw down, etc. This will lead people to over estimate the profitability and underestimate the risks of trading this system as risk is not brought up anywhere within the sales page.
Even though there are no claims of "profit targets" we do see across the web site several places where people say that forex trend scalper is generating them 5 and 6 figure incomes. If this was the case, as the author says its the case for himself, then why wouldn't he show us his live statements showing he has made a living from the forex trend scalper ? Well, probably, as in most cases, this claims are just made up and hold no place in the real world.
As for the actual long term profitability of this trading system, all the evidence that is provided is a few months of live testing. There are no backtesting statements and therefore no way to compare with live testing and gauge longer term profitability. From the live statements I can tell that the EA is our regular EUR/GBP scalper. This type of experts seem to have thrived after the sales success of the FAP turbo expert advisor.
Since we lack any way to verify the long term profitability of the expert, a three month live test is too short and the scalping of the EUR/GBP is very dependent on broker spreads and broker feeds I consider this expert advisor NOT worth buying. If you would like to know what I think about commercial experts, why most of them fail and how you too can trade free long term profitable trading systems 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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