A few days ago, while searching the internet I found the FXDOS automated trading system company which offers the SPIKE, HANS, UCAD, EUROS and SRAND expert advisors. My objective with today's post will be the review of this trading strategies. As you know, I always evaluate the evidence provided by the authors against the claims made and then give my opinion about the potential of the systems for long term profitability according to my long term profitability trading criteria. As always this review is as unbiased as it can be, I receive nothing for giving either positive or negative feedback about this EA.
To begin with, the FXDOS website has a nice design, nothing fancy, filled with marketing ads or anything similar but a simple website showing the necessary information about the trading systems.
Now the story starts to get a little bit sour when we start to analyze the trading systems and the evidence provided about their profitability. The authors of the experts have the courage to say that the SPIKE EA has had no losing trades in the past 4 years. As always, it is not the same to say trades in simulation than to say trades in real life. As you can see from the website, the experts all have just backtesting evidence with no actual live or forward tests. The funniest thing is that the authors say that they did do forward tests which were consistent with backtests.
YEAH, RIGHT. You cannot just SAY you did something and expect us to believe it. If they actually DID the forward tests that show back/live/forward testing consistency then they SHOULD show us. On top of that, an analysis of the trading strategy of the experts reveals that the EA uses a 10 pip TP. A 10 pip TP means not only that there is an almost certainty of unreliable backtesting due to one minute interpolation errors but it also points out that spreads will be VERY important for the trading system. Probably this system is not even worth evaluating in demo testing because of this simple feature.
Knowing that the EA is so sensitive to spreads makes us require LIVE tests that should confirm back/live testing consistency. Some other important questions also come to mind. If the experts, according to the website, were released months or even years ago, then why isn't there a live test showing results for each one of the experts since they were created ? Why isn't there all the evidence that is needed ? Why don't they show these tests if they have them ? Why would anyone want to hide evidence of profitability ?
The answers to these questions are probably the same as usual. The EA is very sensitive to spreads, has unreliable backtests (because of both spread widening neglecting and backtesting one minute interpolation errors) which are not consistent with live tests and live testing is absent because, you guessed, it contradicts the claims made by the authors. Of course, as always I will be inclined to REDO this whole review if back/live testing consistency of at least 3 months is given with investor access passwords to the live accounts traded (we do NEED to know they are live accounts). Meanwhile, these expert advisors are obviously NOT worth buying or testing.
However there is always the possibility have realistic profit and draw down expectations in the forex automated trading market. If you would like to learn more about how you too can be profitable in the forex market with automated trading strategies 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 !
To begin with, the FXDOS website has a nice design, nothing fancy, filled with marketing ads or anything similar but a simple website showing the necessary information about the trading systems.
Now the story starts to get a little bit sour when we start to analyze the trading systems and the evidence provided about their profitability. The authors of the experts have the courage to say that the SPIKE EA has had no losing trades in the past 4 years. As always, it is not the same to say trades in simulation than to say trades in real life. As you can see from the website, the experts all have just backtesting evidence with no actual live or forward tests. The funniest thing is that the authors say that they did do forward tests which were consistent with backtests.
YEAH, RIGHT. You cannot just SAY you did something and expect us to believe it. If they actually DID the forward tests that show back/live/forward testing consistency then they SHOULD show us. On top of that, an analysis of the trading strategy of the experts reveals that the EA uses a 10 pip TP. A 10 pip TP means not only that there is an almost certainty of unreliable backtesting due to one minute interpolation errors but it also points out that spreads will be VERY important for the trading system. Probably this system is not even worth evaluating in demo testing because of this simple feature.
Knowing that the EA is so sensitive to spreads makes us require LIVE tests that should confirm back/live testing consistency. Some other important questions also come to mind. If the experts, according to the website, were released months or even years ago, then why isn't there a live test showing results for each one of the experts since they were created ? Why isn't there all the evidence that is needed ? Why don't they show these tests if they have them ? Why would anyone want to hide evidence of profitability ?
The answers to these questions are probably the same as usual. The EA is very sensitive to spreads, has unreliable backtests (because of both spread widening neglecting and backtesting one minute interpolation errors) which are not consistent with live tests and live testing is absent because, you guessed, it contradicts the claims made by the authors. Of course, as always I will be inclined to REDO this whole review if back/live testing consistency of at least 3 months is given with investor access passwords to the live accounts traded (we do NEED to know they are live accounts). Meanwhile, these expert advisors are obviously NOT worth buying or testing.
However there is always the possibility have realistic profit and draw down expectations in the forex automated trading market. If you would like to learn more about how you too can be profitable in the forex market with automated trading strategies 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 !
Posts
No comments:
Post a Comment