One of the latest expert advisors released is this system called Forex Money Train. This system claims to give people the ability to get significant profits from the forex market and achieve financial freedom in a short period of time. The system claims large sums of profit like 20-30K per trade and promises traders to win with a 90% of profitable trades. On today's review I will examine the Forex Money Trade expert advisor, I will go through all the evidence presented on the system's website and I will take a look at the system's trading tactic. In the end I will put together all the available evidence and I will tell you if the system is able to backup its claims of profitability and if it is or it is not - in my opinion - worth buying and testing.
The Forex Money Train website starts like many other automated trading sites with promises of financial freedom, high winning percentages and market adaptability. However, when it comes to show trading evidence of these claims, the Forex Money Train not only falls short, but actually fails to deliver any reliable evidence of profitability.
The first and only evidence shown on the website is a snapshot of two "live trading" account which are both old, short and unverified. It is incredible that an EA seller expects to be able to sell a system with statements that are more than 6 months old, less than one month long, abruptly stopped and absolutely unverified. What information do you get from this testing evidence ? What I see is a system that was briefly tested on what probably was a demo account and then stopped as soon as some big unprofitable results started to show. The statements shown are a complete joke with less than a week of trading length and no continued updating.
Besides the fact that the statements shown are short and old, they are also unverified. Since there is absolutely no investor access information we cannot tell if the statements are indeed real or if they are manipulated, created from nothing or simply the consequence of trading on a demo account. For any serious EA seller, the absolute verification of the live trading statements is absolutely VITAL to ensure that the system has a high like hood of long term profitability.
On top of this lack of reliable live or demo testing evidence we also have that the backtesting results of the system are not presented. Why isn't any backtesting shown ? When EA sellers do not show any backtesting statements, it becomes obvious that their expert advisor is not able to perform accurately under a wide variety of different market conditions. When this unwillingness to show backtests is coupled with a total absence of live-updated live investor-access verified accounts then we are talking about a seller than simply wants to sell his EA without having to give any serious proof of long term profitability.
The so called "proof" of trades is also a mere joke. It is very easy to hand-pick trades of any strategy to make it appear as the best strategy ever when in reality it loses equity in the long term. Due to the complete lack of ANY reliable evidence, the old, short and unverified live tests and the total lack of backtests, I consider this trading system NOT worth buying and testing. If the seller wants me to change my review he should provide 10 year backtests and 6 months of investor-access live results coupled with 6 months of backtesting statements of this same period to show consistency. Until then, the Forex Money Train falls into the pile along with the thousands of experts that are now part of the overhyped EA graveyard.
If you would like to gain an education around automated trading and truly understand how to develop and use long term profitable 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 Forex Money Train website starts like many other automated trading sites with promises of financial freedom, high winning percentages and market adaptability. However, when it comes to show trading evidence of these claims, the Forex Money Train not only falls short, but actually fails to deliver any reliable evidence of profitability.
The first and only evidence shown on the website is a snapshot of two "live trading" account which are both old, short and unverified. It is incredible that an EA seller expects to be able to sell a system with statements that are more than 6 months old, less than one month long, abruptly stopped and absolutely unverified. What information do you get from this testing evidence ? What I see is a system that was briefly tested on what probably was a demo account and then stopped as soon as some big unprofitable results started to show. The statements shown are a complete joke with less than a week of trading length and no continued updating.
Besides the fact that the statements shown are short and old, they are also unverified. Since there is absolutely no investor access information we cannot tell if the statements are indeed real or if they are manipulated, created from nothing or simply the consequence of trading on a demo account. For any serious EA seller, the absolute verification of the live trading statements is absolutely VITAL to ensure that the system has a high like hood of long term profitability.
On top of this lack of reliable live or demo testing evidence we also have that the backtesting results of the system are not presented. Why isn't any backtesting shown ? When EA sellers do not show any backtesting statements, it becomes obvious that their expert advisor is not able to perform accurately under a wide variety of different market conditions. When this unwillingness to show backtests is coupled with a total absence of live-updated live investor-access verified accounts then we are talking about a seller than simply wants to sell his EA without having to give any serious proof of long term profitability.
The so called "proof" of trades is also a mere joke. It is very easy to hand-pick trades of any strategy to make it appear as the best strategy ever when in reality it loses equity in the long term. Due to the complete lack of ANY reliable evidence, the old, short and unverified live tests and the total lack of backtests, I consider this trading system NOT worth buying and testing. If the seller wants me to change my review he should provide 10 year backtests and 6 months of investor-access live results coupled with 6 months of backtesting statements of this same period to show consistency. Until then, the Forex Money Train falls into the pile along with the thousands of experts that are now part of the overhyped EA graveyard.
If you would like to gain an education around automated trading and truly understand how to develop and use long term profitable 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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