Forex Expert Advisors The Forex Robot WorldCup Experts an Unbiased Review

Through the past few days I have been receiving several spam emails as well as requests from Asirikuy members to review the Robot WorldCup set of expert advisors. These expert advisors were run on a 2 month competition on live accounts through the past few months proving to give profitable results on this period of time. Now the people who run the competition are trying to sell these experts for 999 USD with the claims that this set of trading systems is able to produce very high profits in a proved, reliable fashion. On todays post I will review these claims against the evidence provided. I will also tell you my opinion about the likehood of long term profitability of these trading systems.

First of all, it is clear to me and it should be clear to anyone who has been trading with automated trading systems for a while that a system developed for a competition and a system developed for reliable long term trading are too completely different things. The aim on a competition is simply to win the competition while the aim on long term investment is to increase ones capital with the least possible risk on equity in a long time frame. On a competition the participants are not risking their money and they are trading on a very limited amount of time under very limited market conditions. This of course encourages the use of curve-fitting and very high risk levels which would undoublty not be used in live trading.

Is there any value to a 2 month live test ? The truth is that trading a system on a live account for 2 months does not give any significant information about a trading systems performance in the long term. Why do this people think that a 2 month test can guarantee the continuity of those same results indefinitely ? It definitely CANNOT. A 2 month live test only shows that the system was profitable under a given set of market conditions under a given amount of risk. For example, if Watukushay No.2 had been run with a Risk of 20% per trade (as some of these experts were) for the past two months it would have made more than a 140% profit in live trading. However this does NOT mean that the system can get a very high profit every month, it merely means that the system was very profitable within that period but a 10 year backtest reveals that this is not the average case and that running the expert with such high risk settings eventually brings the system to a deep draw down and wipeout owing to the appearence of unfavorable market conditions and the EXCESS risk used by the system.

This sales pitch the forex robot worldcup experts are based on is nothing but a misleading half-truth. Yes, the experts were profitable for 2 months but no 10 year backtest is given to compare results and check for live/back testing consistency or even to have an idea of the performance of the experts under different market conditions (if live/back testing consistency is indeed existant). In fact, the backtests are limited to one or two years, something VERY suspicious given the fact that 10 year backtests are clearly available and easy to perform on the systems. Do they have something to hide over long term results ?

To me it seems evident that the whole point behind the competition was to get some very high profitable results for a short period of time on some systems only to have them sold after to make a MUCH higher profit that what they made on live accounts (and what the other systems lost). Why arent the experts still being traded ? Why was the live testing stopped ? Chances are that if you run any given set of trading systems curve fitted to the last year of trading for 2 months with high risk settings, some of them are bound to give you very high returns. Will they give you the same returns in 10 years ? It is highly unlikely and the people who are selling the forex robot worldcup expert advisors have NO evidence of long term profitability. The danger in trading this systems is extreme as no idea of the performance under unfavorable market conditions is known and therefore people have no idea of the amount of draw down (or wipeout) they will go into.

For all the reasons mentioned above, the misleading profit targets, the lack of 10 year backtests with live/back testing consistency tests and the fact that the tests were overly limited and have been stopped I consider these expert advisors NOT worth buying or testing. If they add 10 year backtests, back/live testing consistency analysis and continue the live tests of this experts I will be more than glad to redo this review. Meanwhile this forex robot worldcup are nothing to me but a bunch of yet more short term profitable systems with no evidence or support for long term profitability.

If you would like to learn more about the systems I have developed with long term profitability and controlled risk in mind 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 !

Forex Expert Advisors Turbo Robot an Unbiased Review

Today I found out a new robot which has been recently released into the forex automated trading arena. This trading system - called turbo-robot - promises to deliver consistent profits with unrivaled profitability, low draw downs, diversification and overall, just awesome results. Within this post I intend to review this trading system, specially the evidence provided by the author and whether or not this evidence is able to backup the authors claims of profitability. I will also look into this evidence and through my analysis tell you if I think the system has the potential to be long term profitable. After evaluating all these different aspects of the strategy I will then conclude my review by telling you whether or not this trading system is worth buying and testing. Is the turbo-robot up to the challenge of forex automated trading ? Lets see.

The turbo-robot website starts with the usual speech telling you how most robots suck but this robot is the best you will ever find. The author points out that the problem is that people should look for consistent profits and not systems that just make profits and then wipe accounts. Then when we turn to look at the evidence this system may have to prove that it is actually profitable we find nothing but the usual faulted tests.

This forex automated trading system offers backtesting results as the only proof of profitability. However not only does the author only offer these tests but the statements from the tests are not actually shown so things as simple as the actual time period of the tests, the average risk to rewards ratio, maximum draw down, etc, become absolutely useless. Then we are faced with something even worse which is the fact that the modeling quality of the tests is not 90% but n/a. This means that the simulations are not accurate since either 1 minute data was not used for modeling or a lot of mismatch errors occur within the test.

The author then shows us a part of the backtests which are supposed to be a part of the graphs shown. We do find that the system has a very favorable 1:5 risk to reward ratio which is absolutely great for any trading system. However since we do not have access to the actual backtesting statements it becomes absolutely impossible to determine whether or not this is the average risk to reward ratio or just the outcome of a few trades.

There is also an additional problem pointed out by the people at project4x which say that the backtesting results are NOT reproducible and that actual reproduction with 90% modeling quality generates nothing but loses. I think that this not surprising given the fact that the tests made available by the author of the turbo-robot website do show an n/a modeling quality pointing out that the results shown by them are the result of errors introduced within the data (or the lack of accurate data) and therefore their tests are nothing but meaningless and useless.

I believe that the people who setup this website and put up the tests are either very ignorant of how automated trading systems work and how to run simulations or they are doing an elaborate and conscious effort to deceive buyers. In either case the lack of any investor access verified live trading results and the lack of back testing statements does point out that the sellers are not being fully open but absolutely dishonest with the websites visitors. In the end, the overwhelming lack of any reliable evidence and the absolute lack of completness and accuracy of the evidence presented I consider this system NOT worth buying or testing. In the future, I would recommend the people at turbo-robot to consider their audience less retarded and do their homework regarding proper backtesting and the ABSOLUTELY necessary posting of FULL backtesting statements and investor access verified live trading results. If they are not willing to risk their own money on their own "wonderful" system, why should you ?

If you would like to learn more about my teachings in automated trading and how you too can design and trade your own long term profitable systems based on realistic profit and risk 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 !