Today I have decided to write a review about an automated trading system which was requested by 2 newsletter subscribers about a week ago. The expert advisor I am going to be reviewing today is called forex sorcerer and promises in its website to be an amazing expert advisor able to produce a profit of 49 million dollars every year (yeah, you read right). As always, I am going to evaluate the author's claims against the evidence provided by the authors and in virtue of this I will be able to say if the system is worth buying and testing or NOT. As all other reviews I have written this review is as unbiased as it can be as I get no compensation for either negative or positive feedback on the EA.
First of all, I have to say that the claims made by the authors of forex sorcerer are boldest most absurd claims I have ever read. They say their system can turn 49 million dollars each year ? My God, I simply cannot believe they are SO bold that they care to make that statement. I seriously think this people believe that their customers are desperate, retarded or something of that sort. Who in their right mind would believe that an automated trading system in the forex market can make 49 million dollars each year ? Sure, if you have a 500 million dollars investment it is possible, but NEVER from 500K, much less from 5000 USD.
What evidence do they show to prove this claims ? Absolutely nothing that is worth mentioning. All the evidence the people at forex wizard show is a backtest that is obviously not going to be consistent with live trading since the expert obviosly exploits backtesting faults to achieve their profits. If it is as profitable as they say it is then why don't they show us a two month statement with a 1000% profit ? This is the top of the hype and scam pile, it is absolutely incredible that there are people who believe that they are customers so naive and ignorant as to buy this system. More over, if there are customers who are so naive and ignorant, what type of crook would want to sell them a system that would not deliver the results mentioned and even wipe their accounts ?
For me going through the forex sorcerer website was nothing short of an angering experience. I am amazed at the things people will do for money. How could you show backtests that are obviously not worth anything trying to make them sound like the truth ? Why do you say your system makes 49 million dollars a year if it has NEVER done that ? It has done that in simulation which has many limitations that are obviously being exploited and which will NOT be in check with reality when live trading. There isn't any live testing to backup the backtests and show us that they are worth anything. It is because they are NOT.
Well, sadly this does not surprise me. It seems true that when you think money is everything, you'll do everything for money. If you want to learn about automated trading and how you too can get long term realistic results 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 !
First of all, I have to say that the claims made by the authors of forex sorcerer are boldest most absurd claims I have ever read. They say their system can turn 49 million dollars each year ? My God, I simply cannot believe they are SO bold that they care to make that statement. I seriously think this people believe that their customers are desperate, retarded or something of that sort. Who in their right mind would believe that an automated trading system in the forex market can make 49 million dollars each year ? Sure, if you have a 500 million dollars investment it is possible, but NEVER from 500K, much less from 5000 USD.
What evidence do they show to prove this claims ? Absolutely nothing that is worth mentioning. All the evidence the people at forex wizard show is a backtest that is obviously not going to be consistent with live trading since the expert obviosly exploits backtesting faults to achieve their profits. If it is as profitable as they say it is then why don't they show us a two month statement with a 1000% profit ? This is the top of the hype and scam pile, it is absolutely incredible that there are people who believe that they are customers so naive and ignorant as to buy this system. More over, if there are customers who are so naive and ignorant, what type of crook would want to sell them a system that would not deliver the results mentioned and even wipe their accounts ?
For me going through the forex sorcerer website was nothing short of an angering experience. I am amazed at the things people will do for money. How could you show backtests that are obviously not worth anything trying to make them sound like the truth ? Why do you say your system makes 49 million dollars a year if it has NEVER done that ? It has done that in simulation which has many limitations that are obviously being exploited and which will NOT be in check with reality when live trading. There isn't any live testing to backup the backtests and show us that they are worth anything. It is because they are NOT.
Well, sadly this does not surprise me. It seems true that when you think money is everything, you'll do everything for money. If you want to learn about automated trading and how you too can get long term realistic results 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 !
Posts
No comments:
Post a Comment