A few days ago, while searching for new automated trading systems to review I came across the CaliberFX Pro expert advisor. On today's post I will make my best effort to review this trading system and tell you whether or not it is worth buying or testing. My review will focus on the analysis of the evidence provided by the author as well as a comparison between the author's claims and those backed up by the actual evidence presented. I will discuss the trading technique of the trading system as well as the likeness the system has of reaching long term profitability based on my experience in this business.
The CaliberFX Pro trading system website starts with a very bold claim telling us that the expert advisor is able to achieve multiple hundred percent profitability. However no time frame for this profitability is given so actually the statement is vague and misleading and only contributing to the overall "hype" tone of the entire website.
When we go a little bit further along the page we find a very limited, non-verified live-testing statement of a few days which is simply worthless in its current state. First of all, live tests must be third party verified (via myfxbook) or the investor access password needs to be provided in order for us to verify that a) the account is real and b) that the statement shown is not being manipulated. Expert advisor sellers have been known to show bogus statements with manipulated results so this information is a MUST to ensure that the vendor is being completely honest. Second, a live tests of just a few days is simply too statistically limited to say anything about a trading system's profitability. A few days are just a too small sample to say anything about long term profitability.
Then when we proceed further I find that the actual risk to reward ratio of the strategy cannot be figured out because the actual profit per trade is hidden or the lot size is hidden as in the case of the "strip" of backtesting which is shown. Why is this hidden ? why would they hide information such that determining this parameters becomes impossible ?
Another fact is that backtesting evidence shown is always "blurred". The only strategy tester report shown has 90% of the screen are hidden in such a way that we cannot look at the average profitable trade, average losing trade, winning percentage or -more importantly- risk parameters such as the maximum draw down of the strategy. The fact that the backtesting modeling quality cannot be known and that the backtest is merely limited to 1 year of analysis further points out that the seller is definitely trying to hide something from us. Why aren't 10 year backtests shown ? If there is a live test (as shown in the beginning), why isn't a myfxbook live-updated widget shown to give testimony of its ongoing performance ?
As you see, there are simply to many unanswered questions and the fact that the seller is simply being dishonest and willfully hiding relevant information about his or her trading system. For this reason, this expert advisor is absolutely NOT worth buying or testing. It would be as good as betting the money in a casino to buy a trading system which has absolutely no proof of long term profitability and moreover an EA which doesn't even allow us to have a look at the risk to reward ratio or maximum draw down of the strategy.
If you would like to learn more about automated trading systems and how you too can develop and trade your own long term profitable trading systems please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !
The CaliberFX Pro trading system website starts with a very bold claim telling us that the expert advisor is able to achieve multiple hundred percent profitability. However no time frame for this profitability is given so actually the statement is vague and misleading and only contributing to the overall "hype" tone of the entire website.
When we go a little bit further along the page we find a very limited, non-verified live-testing statement of a few days which is simply worthless in its current state. First of all, live tests must be third party verified (via myfxbook) or the investor access password needs to be provided in order for us to verify that a) the account is real and b) that the statement shown is not being manipulated. Expert advisor sellers have been known to show bogus statements with manipulated results so this information is a MUST to ensure that the vendor is being completely honest. Second, a live tests of just a few days is simply too statistically limited to say anything about a trading system's profitability. A few days are just a too small sample to say anything about long term profitability.
Then when we proceed further I find that the actual risk to reward ratio of the strategy cannot be figured out because the actual profit per trade is hidden or the lot size is hidden as in the case of the "strip" of backtesting which is shown. Why is this hidden ? why would they hide information such that determining this parameters becomes impossible ?
Another fact is that backtesting evidence shown is always "blurred". The only strategy tester report shown has 90% of the screen are hidden in such a way that we cannot look at the average profitable trade, average losing trade, winning percentage or -more importantly- risk parameters such as the maximum draw down of the strategy. The fact that the backtesting modeling quality cannot be known and that the backtest is merely limited to 1 year of analysis further points out that the seller is definitely trying to hide something from us. Why aren't 10 year backtests shown ? If there is a live test (as shown in the beginning), why isn't a myfxbook live-updated widget shown to give testimony of its ongoing performance ?
As you see, there are simply to many unanswered questions and the fact that the seller is simply being dishonest and willfully hiding relevant information about his or her trading system. For this reason, this expert advisor is absolutely NOT worth buying or testing. It would be as good as betting the money in a casino to buy a trading system which has absolutely no proof of long term profitability and moreover an EA which doesn't even allow us to have a look at the risk to reward ratio or maximum draw down of the strategy.
If you would like to learn more about automated trading systems and how you too can develop and trade your own long term profitable trading systems please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !
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