Continuing my review of recently released trading systems today I am going to talk to you about another system called Zone 99 Forex. Within the next few paragraphs I will guide you through the expert's website, talking about the evidence presented by the author and whether or not it backs up his claims. I will also analyze any statements or information given and I will tell you my opinion about the reliability of the evidence and the soundness of the trading tactic used by the Zone 99 Forex EA. After all this I will be able to give you my honest and unbiased opinion about this trading system's profitability, particularly about whether or not I consider it worth buying and testing.
I think that the starting phrase of the Zone 99's website is one of the boldest I have ever heard. This expert advisor is not only supposed to be able to give you huge profits with low draw down but the profits are so high that you will be able to triple your account every three months. Does it sound too good to be true ? Looking further down the website we find even more amazing claims of profitability including the claim of making more than 10,000% profit in 25 months.
I would have to say however that this type of website is the most dangerous for new traders. The system seems to have a lot of evidence showing what it is capable off and there doesn't seem to be any reasons to believe that the claims are not reasonable. The truth however is that the evidence is being portrayed in such a way that it "sings the song" while there are a very large set of reasons why the system is not as good as it sound.
What is wrong then ? First of all, you have to take a long look at the "live" statements shown. These statements do NOT have investor access information, reason why they can be simply made up on an html editor to show us something that seems like a live statement which is simply not. These results could also be the result of demo trading and not live trading, making us believe that the profits were achieved in real life when in fact they were not. There is also the VERY important fact that ALL the accounts are only trading for a very small period of time and all of them avoid any periods where the SL was hit. On all of these accounts, trading is done with a VERY high risk of more than 15% of the account per trade reason why they are able to show these results. What we have here is merely a bunch of highly risky shor term statements which are not verified and could be easily demo accounts or even worse, just made up. These statements only show us a system with a very poor risk to reward ratio and a very unsound risk management.
The backtesting statement shown is also something you shouldn't believe. Backtesting is done with knowledge about the past and unless you get a live trading statement of the same period as a backtesting statement showing you live/back testing consistency, backtests cannot be trusted. There are many things that could be done to achieve extreme values of profitability in backtesting which could not be achievable in live trading reason why this verification is a MUST.
So what does the Zone 99 Forex EA show us ? What we have here is another overly hyped system with very limited - and probably demo or made up - statements showing us a system with an unfavorable risk to reward ratio trading at an extreme risk during a short period of time. If this people were actually serious about proving profitability they would provide a myfxbook link with investor-access verified to show us a REAL live account which is updated real-time and NOT some statements which may as well be manipulated or fake altogether. The backtesting statement also tells us nothing since its validity cannot be confirmed through live/back testing consistency results.
Finally, due to the fact that the evidence presented is simply unverified and unreliable and because of the simple fact that the authors do NOT show verified live updated live trading results (if those results were actually from live accounts why don't they continue to update them and provide investor access ?) I consider this EA NOT worth buying or testing. Additionally it is worth noting that anyone who tried to trade this system with the risk levels shown to achieve the profit targets mentioned would have a very high probability of wiping his or her account due to the unsound level of risk and the unfavorable risk to reward ratio of the system.
If you would like to learn more about what I have learned in the field of automated trading and how you too can learn to trade with realistic profit and risk targets in automated trading 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 !
I think that the starting phrase of the Zone 99's website is one of the boldest I have ever heard. This expert advisor is not only supposed to be able to give you huge profits with low draw down but the profits are so high that you will be able to triple your account every three months. Does it sound too good to be true ? Looking further down the website we find even more amazing claims of profitability including the claim of making more than 10,000% profit in 25 months.
I would have to say however that this type of website is the most dangerous for new traders. The system seems to have a lot of evidence showing what it is capable off and there doesn't seem to be any reasons to believe that the claims are not reasonable. The truth however is that the evidence is being portrayed in such a way that it "sings the song" while there are a very large set of reasons why the system is not as good as it sound.
What is wrong then ? First of all, you have to take a long look at the "live" statements shown. These statements do NOT have investor access information, reason why they can be simply made up on an html editor to show us something that seems like a live statement which is simply not. These results could also be the result of demo trading and not live trading, making us believe that the profits were achieved in real life when in fact they were not. There is also the VERY important fact that ALL the accounts are only trading for a very small period of time and all of them avoid any periods where the SL was hit. On all of these accounts, trading is done with a VERY high risk of more than 15% of the account per trade reason why they are able to show these results. What we have here is merely a bunch of highly risky shor term statements which are not verified and could be easily demo accounts or even worse, just made up. These statements only show us a system with a very poor risk to reward ratio and a very unsound risk management.
The backtesting statement shown is also something you shouldn't believe. Backtesting is done with knowledge about the past and unless you get a live trading statement of the same period as a backtesting statement showing you live/back testing consistency, backtests cannot be trusted. There are many things that could be done to achieve extreme values of profitability in backtesting which could not be achievable in live trading reason why this verification is a MUST.
So what does the Zone 99 Forex EA show us ? What we have here is another overly hyped system with very limited - and probably demo or made up - statements showing us a system with an unfavorable risk to reward ratio trading at an extreme risk during a short period of time. If this people were actually serious about proving profitability they would provide a myfxbook link with investor-access verified to show us a REAL live account which is updated real-time and NOT some statements which may as well be manipulated or fake altogether. The backtesting statement also tells us nothing since its validity cannot be confirmed through live/back testing consistency results.
Finally, due to the fact that the evidence presented is simply unverified and unreliable and because of the simple fact that the authors do NOT show verified live updated live trading results (if those results were actually from live accounts why don't they continue to update them and provide investor access ?) I consider this EA NOT worth buying or testing. Additionally it is worth noting that anyone who tried to trade this system with the risk levels shown to achieve the profit targets mentioned would have a very high probability of wiping his or her account due to the unsound level of risk and the unfavorable risk to reward ratio of the system.
If you would like to learn more about what I have learned in the field of automated trading and how you too can learn to trade with realistic profit and risk targets in automated trading 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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