On another review I will be examining the Fish Forex Robot expert advisor today. This trading system- which was released a few weeks ago- claims to be able to generate 3000 to 4000 USD every month spending no more than 5 to 7 minutes a day "monitoring the robot". It also claims to be able to "double your account every month" a very bold claim which the author should be able to backup. Within the next few paragraphs I will analyze the trading evidence provided by the author and I will see if it is able to sustain her claims. I will also look into the expert's trading tactics and I will tell you if the Fish Forex Robot has a high like hood of achieving long term profitability and whether or not it is worth buying and testing.
In the beginning you see a big box that tells you that you have two options. The first one is 3-4K of stable income from Fish Forex robot or vague promises of fortune-making strategies. However this is just very misleading and one of the marketing tactics I hate the most because it reflects a general LACK of knowledge from the expert advisor seller. You simply cannot mention any profit without mentioning the necessary intial capital investment. Do you get 3-4K from one million dollars, from 10 dollars, from 1000 ? It is absolutely frustrating to see these claims over and over again with absolutely no basis in real trading.
What we have from here on does not help the trading system's cause either. The seller shows us a backtesting equity curve that - surprise - is that of a Martingale showing how a 1000 USD account turned into 19,000 USD in just a little bit more than 6 months. The backtesting chart and the statements show a five fold increase in lot size with every loss, telling us that not only the system uses progressive money management but it also has a very unfavorable risk to reward ratio. Cleverly all the places where we could infer the risk to reward ratio from have been blurred and all we have to actually think this is the case is the fact that a five fold increase in lot size merely recovers the last loss pointing to a 4:1 risk to reward ratio which - combined with a progressive money management system- is definitely a time bom.
Then we have a "live trading statement". Please, this statement is merely a joke. Anyone could put up an html and makeup that statement and then blur it. If this seller is serious about showing profitability then she should include a REAL live investor-access verified account that TRULY showed live-updated trading results that we know are obtained from a real account with real money. This "live testing evidence" which - even if real - is extremely limited, simply does not contribute to any proof of profitability. What does the seller want to hide ? Why not risk her own money to show the "consistent income" her system can make ?
What we see in the case of the Fish Forex Robot trading system is nothing but a system with a seemingly very unsound trading tactic that has absolutely no reliable evidence of profitability. The author hides backtesting statements, denies 10 year backtesting results, blurs "live trading results" and does not even risk her own money to show us a live investor-access verified account. This system trades a very dangerous game and a few consecutive loses are bound to put you into VERY DEEP draw down if not an account wipeout.
Due to the fact that there is simply no evidence to backup profitability and the fact that the system uses an extremely unsound trading tactic with a very dangerous progressive money management strategy (five fold increase in lot sizes) I consider the Fish Forex Robot NOT worth buying or testing.
If you would like to learn more about automated trading and gain a true education on how you can evaluate and be successful with expert advisors with sound risk and profit targets 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 !
In the beginning you see a big box that tells you that you have two options. The first one is 3-4K of stable income from Fish Forex robot or vague promises of fortune-making strategies. However this is just very misleading and one of the marketing tactics I hate the most because it reflects a general LACK of knowledge from the expert advisor seller. You simply cannot mention any profit without mentioning the necessary intial capital investment. Do you get 3-4K from one million dollars, from 10 dollars, from 1000 ? It is absolutely frustrating to see these claims over and over again with absolutely no basis in real trading.
What we have from here on does not help the trading system's cause either. The seller shows us a backtesting equity curve that - surprise - is that of a Martingale showing how a 1000 USD account turned into 19,000 USD in just a little bit more than 6 months. The backtesting chart and the statements show a five fold increase in lot size with every loss, telling us that not only the system uses progressive money management but it also has a very unfavorable risk to reward ratio. Cleverly all the places where we could infer the risk to reward ratio from have been blurred and all we have to actually think this is the case is the fact that a five fold increase in lot size merely recovers the last loss pointing to a 4:1 risk to reward ratio which - combined with a progressive money management system- is definitely a time bom.
Then we have a "live trading statement". Please, this statement is merely a joke. Anyone could put up an html and makeup that statement and then blur it. If this seller is serious about showing profitability then she should include a REAL live investor-access verified account that TRULY showed live-updated trading results that we know are obtained from a real account with real money. This "live testing evidence" which - even if real - is extremely limited, simply does not contribute to any proof of profitability. What does the seller want to hide ? Why not risk her own money to show the "consistent income" her system can make ?
What we see in the case of the Fish Forex Robot trading system is nothing but a system with a seemingly very unsound trading tactic that has absolutely no reliable evidence of profitability. The author hides backtesting statements, denies 10 year backtesting results, blurs "live trading results" and does not even risk her own money to show us a live investor-access verified account. This system trades a very dangerous game and a few consecutive loses are bound to put you into VERY DEEP draw down if not an account wipeout.
Due to the fact that there is simply no evidence to backup profitability and the fact that the system uses an extremely unsound trading tactic with a very dangerous progressive money management strategy (five fold increase in lot sizes) I consider the Fish Forex Robot NOT worth buying or testing.
If you would like to learn more about automated trading and gain a true education on how you can evaluate and be successful with expert advisors with sound risk and profit targets 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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