Thursday, May 27, 2010

Forex Expert Advisors : Forex Kinetics (FX-Kits), an Unbiased Review

This review will begin a series of posts about the most recently released expert advisor. On this post I want to talk to you about an expert advisor released by a trader named Daniel Su, who appears to be from Singapore. As almost all forex robots, the forex kinetics (FX-Kit) system claims to be capable of generating consistent returns under varied market conditions with absolutely no intervention from the expert's user. On today's review I will go through the expert's website, analyzing the author's claims and evidence and I will tell you if - according to my opinion - this trading system is worth buying and testing.

The first sentence on this website already started to bother me as I read the word "guaranteed", expert advisor sellers must be clear in that no profits can be guaranteed and that past performance never guarantees future results. An effort can always be made to ensure that trading systemswill have the pwoer to adapt to changes in market conditions but, since no one knows the future, saying that certain profit or consistency is guaranteed is nothing more than an unethical marketing tactic (which is not surprisingly used).

As with most trading systems, the website goes on and on about the trading system's ability to adapt to changes in market conditions and its unique features which allow it to remain hidden from brokers and trade differently - yet efficiently - for all of its users. The system claims that it is able to change its entries between different traders such that trades would never be the same (I wonder how you can match performance then ?).

When it comes to trading evidence, I have to say that this system falls short by a very long shot. The evidence shown of "live testing" is not investor access verified and - on top of that - trading has stopped on all accounts a few months back. How can you buy any trading system that just shows you a few months worth of trading evidence ? Why in the world would you risk your own hard-earned money if not even the tester is willing to load his expert advisor on his account and place some investor-access information ? I think that the author of the forex kinetics (FX-Kit) trading system should place investor access information or myfxbook account links if he wishes to present reliable live testing evidence. What we have right now could simply be a small profitable period after which the account was wiped or it could simply be a made up statement with a made up graph. Even if the results are indeed real, we cannot know if they were run on demo or live accounts due to the lack of investor information.

There is also a very suspicious lack of backtesting information which is almost always shown on expert advisor selling websites. Why doesn't the owner show us a 10 year backtest if his system is able to adapt to changes in market conditions ? If this backtesting information cannot be shown then how are we supposed to know if the claims are real ? Should people risk money on an untested system that has no prove of profitability or reliability across different market conditions ?

In the end, the overall lack of any realiable evidence makes the claims made by the author lack any susbtantial support and therefore this trading system called forex kinetics (FX-Kit) is absolutely NOT worth buying and testing. If the author wishes to provide reliable proof of profitability then live investor-access verified myfxbook links should be provided coupled with 10 years of backtesting results. I always write these suggestions with the hope that sellers will just run the tests and show me the evidence in an honest fashion but I have to say that - up until now - this has never actually been the case.

If you have liked this review and you would like to learn more about automated trading and how you too can learn how to design and use your own systems based on reliable trading tactics 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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