A few days ago I found a new expert advisor called forex enforcer. Since I had never reviewed this expert advisor I decided to write a post about it today. As with all other expert advisors I am going to evaluate the evidence provided by the author against the claims made by him/her in order to gauge the probability the expert has of being long term profitable according to my well established criteria for long term profitability. After that I will tell you if I think the expert is or is not worth buying according to both the soundness of its trading techniques and its credibility.
The Forex Enforcer trading system certainly does not look any better than the other hundreds of expert advisors out there sold commercially. The first thing you see when you enter the website is a very bold claim that states that the expert was able to turn 10,000 into 125,000 USD. Thing further from the truth. When will this EA sellers understand that it is not the same to make a certain amount of money in simulation than to make that same amount in real trading. It is totally invalid, and misleading to say an expert advisor "made" a certain amount of money when in reality in never did so. Of course, this is all part of the marketing tactic used to sell the EA.
This expert strikes me as the classical EA that uses backtesting faults to have large profitability in simulation. It only takes one good look to find out that there is really no evidence of the claims provided by the author. The backtesting statements are missing and even the full picture of the detailed statement does not show. This means that not only do we not know if the experts backtesting is of any use but we also don't even know the extent of the backtesting period. It is therefore totally wrong for the author to claim things as the ones he does on his website.
Another thing that bothers me is the use of trading examples as evidence of profitability. Trading examples are OK and a reliable way to convey to someone how a system works. However for trading examples to be of any use one has to show winning as well as losing trades. Charts showing trading examples can also easily be made up so we clearly need to see a live testing statement that shows us the result we are looking at so that we know its reliable.
This EA is sadly a part of the hundreds of experts out there that simply do not offer enough evidence to believe or support any of their claims. The EA makes claims it does not support through live testing and only backtests that are shown in a very limited way are present. Remember that back/live testing consistency is VITAL to believe ANY claim made by a commercial EA seller and we always need to have this information in order to assess profitability with certainty.
Because of all the above reasons, which can be summarized as a gross and intentional lack of evidence, this EA is NOT worth buying or testing. If the EA seller puts up backtesting from 1999 to 2009 and shows us live testing consistent results I will of course reconsider my review. If you are interested in viewing automated trading systems that are worth testing and really understand my criteria for long term profitability 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 !
The Forex Enforcer trading system certainly does not look any better than the other hundreds of expert advisors out there sold commercially. The first thing you see when you enter the website is a very bold claim that states that the expert was able to turn 10,000 into 125,000 USD. Thing further from the truth. When will this EA sellers understand that it is not the same to make a certain amount of money in simulation than to make that same amount in real trading. It is totally invalid, and misleading to say an expert advisor "made" a certain amount of money when in reality in never did so. Of course, this is all part of the marketing tactic used to sell the EA.
This expert strikes me as the classical EA that uses backtesting faults to have large profitability in simulation. It only takes one good look to find out that there is really no evidence of the claims provided by the author. The backtesting statements are missing and even the full picture of the detailed statement does not show. This means that not only do we not know if the experts backtesting is of any use but we also don't even know the extent of the backtesting period. It is therefore totally wrong for the author to claim things as the ones he does on his website.
Another thing that bothers me is the use of trading examples as evidence of profitability. Trading examples are OK and a reliable way to convey to someone how a system works. However for trading examples to be of any use one has to show winning as well as losing trades. Charts showing trading examples can also easily be made up so we clearly need to see a live testing statement that shows us the result we are looking at so that we know its reliable.
This EA is sadly a part of the hundreds of experts out there that simply do not offer enough evidence to believe or support any of their claims. The EA makes claims it does not support through live testing and only backtests that are shown in a very limited way are present. Remember that back/live testing consistency is VITAL to believe ANY claim made by a commercial EA seller and we always need to have this information in order to assess profitability with certainty.
Because of all the above reasons, which can be summarized as a gross and intentional lack of evidence, this EA is NOT worth buying or testing. If the EA seller puts up backtesting from 1999 to 2009 and shows us live testing consistent results I will of course reconsider my review. If you are interested in viewing automated trading systems that are worth testing and really understand my criteria for long term profitability 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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