On this post I will start the review of trading systems that have come out during the months of May-June 2010 focusing my efforts on those expert advisors that have received the highest media and community attention. On today's post I will be reviewing an automated trading system called Forex Kagi which promises to use an "ancient Japanese trading technique" to grant to unprecedented success in forex trading. Through the following paragraphs I will be going through all the trading evidence shown by the people at the forex kagi website, I will see if the evidence is able to backup the claims of profitability made by the authors and I'll give you my opinion about whether or not I consider forex kagi worth buying and testing.
Overall forex Kagi follows up on the formula of most of its predecessors regarding marketing. A website with an introductory video filled with relatively poor information about the trading system followed by a website filled with similarly poor content with relatively no information about the way it trades the market and its actual risk and profit characteristics. The Forex Kagi software falls into what I would call an "empty promise". The website goes on and on about the "virtues" of the software, its very favorable risk to reward ratio, small stop loss values, high accuracy, etc, however there is NO evidence on the whole website that shows this to be true.
It is very difficult for me to believe that people try to sell software with such lack of general evidence to backup their claims of profitability. The forex kagi website shows no simulations of performance nor a live trading record to backup its claims. Therefore this website could just be made up without even having a decent product to sell. All the information we have is a bunch of pictures of "trades" anyone could have drawn with any decent trading software and there is just NO information regarding the trading performance of this system.
How are you supposed to trade something that doesn't show the slightest evidence of being profitable ? How do you trade a piece of software that shows no evidence at all ? The developers of Forex Kagi should get serious and understand that performance MUST be demonstrated through live , investor-access verified trading results and that a simple "tale" of what the software is supposed to trade like is just not enough.
Of course, due to the overwhelming lack of any evidence on the forex kagi's website I consider this trading system NOT worth buying and testing. I would have to see ten year simulations, 6 months of live testing and a consistency test between simulation and live results before considering to buy this product. Right now this is nothing but an over hyped tale of a piece of software which has trading results that are simply unknown to us. With no evidence of profitability or the profit and draw down targets of this system how can they expect anyone to buy it ?
If you would like to learn more about automated trading and what characteristics you should look for on a likely long term profitable system 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 !
Overall forex Kagi follows up on the formula of most of its predecessors regarding marketing. A website with an introductory video filled with relatively poor information about the trading system followed by a website filled with similarly poor content with relatively no information about the way it trades the market and its actual risk and profit characteristics. The Forex Kagi software falls into what I would call an "empty promise". The website goes on and on about the "virtues" of the software, its very favorable risk to reward ratio, small stop loss values, high accuracy, etc, however there is NO evidence on the whole website that shows this to be true.
It is very difficult for me to believe that people try to sell software with such lack of general evidence to backup their claims of profitability. The forex kagi website shows no simulations of performance nor a live trading record to backup its claims. Therefore this website could just be made up without even having a decent product to sell. All the information we have is a bunch of pictures of "trades" anyone could have drawn with any decent trading software and there is just NO information regarding the trading performance of this system.
How are you supposed to trade something that doesn't show the slightest evidence of being profitable ? How do you trade a piece of software that shows no evidence at all ? The developers of Forex Kagi should get serious and understand that performance MUST be demonstrated through live , investor-access verified trading results and that a simple "tale" of what the software is supposed to trade like is just not enough.
Of course, due to the overwhelming lack of any evidence on the forex kagi's website I consider this trading system NOT worth buying and testing. I would have to see ten year simulations, 6 months of live testing and a consistency test between simulation and live results before considering to buy this product. Right now this is nothing but an over hyped tale of a piece of software which has trading results that are simply unknown to us. With no evidence of profitability or the profit and draw down targets of this system how can they expect anyone to buy it ?
If you would like to learn more about automated trading and what characteristics you should look for on a likely long term profitable system 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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