Tuesday, January 26, 2010

Forex Expert Advisors : Forex Neutrino, an Unbiased Review

A few days ago, while doing my weekly search for new automated trading systems, I came across a new system called forex neutrino. The objective of today's post is to review this system. As always, the review will focus on the evaluation of the author's claims against the evidence provided on the website. After analysing the sales page and any information given on it that may point to the way in which the expert advisor works I will also give my opinion on whether or not this system is worth buying and testing. The author of forex neutrino claims that his trading system is able to generate a hundred thousand dollar income with "almost zero" risk, lets see if his trading system is able to live up to his claims.

The first thing that greets you when you enter the forex neutrino website is a huge claim saying that the system is able to generate a 164K income followed by the above mentioned statement which says that forex neutrino is able to generate profits with almost zero risk. Boy, could this guy be more misleading ! First of all, it is extremely misleading to say that you can generate a 164K income without saying the needed capital in order to do so. It speaks only about the hype of the claim and the fact that there is no real background to it.

What is there on the web page to backup these claims of huge profits and zero risk ? Almost absolutely nothing ! After the claims the creator of the system shows a few pictures of trades which could be easily made up by anyone on any trading software. Does this guy think we where born yesterday ? Showing pictures of trades that may have never happened is not going to prove anyone that a system is profitable, those pictures are just, as on most cases, a way to increase the hype of the product being sold.

After that then we see the bottom part of a statement, which can easily be made and some graphs showing us a comparison between forex neutrino and the "typical" automated trading system and manual trading methodology. Where in the world did this information come from ? What is the "typical" manual performance ? The reasearch alone needed to draw that graph must have been huge and the fact that the resource of the information is not even mentioned points to the fact that this is just a made up graph with no real substance behind it.

What bothers me the most from the forex neutrino website is the fact that the author makes some huge claims and tells us a story about his personal success without showing a any god damn piece of evidence. Why isn't there any live testing if this system is so profitable ? Why doesn't the author show his 5 or 6 figure income statement using this trading system ? Why if he became am millionaire using it doesn't he show the proof ? If I had made so much money with an EA I would be thrilled to show the evidence ? Why isn't there a ten year backtest to evaluate past performance ? Why are so many things missing ?

The sad truth is that forex neutrino is yet another piece of highly hyped software with absolutely no proof of profitability or "almost zero risk". Buying this thing is like taking a gamble with your money. Why would you trade your money with a system the author doesn't even care to use ? Why would you open a live account when the guy who made the system doesn't even offer evidence of one opened with his own money ?

Of course, because of the overwhelming lack of any reliable evidence to proof ANY of the absurd claims made by the seller, this EA is NOT worth buying or testing. If the author adds a ten year backtest and a 6 month live test showing back/live testing consistency I'll be more than glad to remake this review. Meanwhile, this is just another hyped, worthless forex product as far as I know.

If you would like to learn more about automated trading systems and how you too can trade with reliable and long term profitable systems with realistic profit and risk targets 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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