Forex Expert Advisors : Forex Mutant an Unbiased Review

As a suggestion from a newsletter subscriber today I will dedicate this post to the review of an automated trading system called Forex Mutant. This is a forex expert advisor which says it is able to turn 5000 into more than 60,000 USD “quickly”. Today’s review will focus on the analysis of the evidence provided on the website against the claims made by the author in order to know if such exceedingly bold claims have any backup or if they are just “made up” based on unsubstantial evidence. After revieweing the evidence and doing an analysis of the website and the system I will give my opinion about the experts likehood for long term profitability and also if it is or it is not worth buying and testing.

As I just said on the first paragrah, the claims made by the forex mutant expert advisor are very bold. Making more than 600% is something very difficult to achieve. It is also particularly misleading that they give no actual reference to the timeframe in which this may be done. It is clear that a system traded with an extremely high risk my be able to multiply capital by several times before wiping an account in a few days or weeks while a long term profitable system may achieve a 600% profit in the long term (10 or 20 years) without ever wiping or coming close to wiping the trading account. What type of system is the forex mutant then ? What claims and evidence is there to backup this higher than 600% profit ? in what time frame is this achieved ?

It is simply ridiculuos how naive these EA sellers think their customers are. The forex mutant system has absolutely no real evidence to backup their claims of a 600% profit, what seems to be their support is nothing more than a “cut” off a backtesting strategy report which we don’t even get to see. What is the risk to reward ratio ? What period of time did the backtest take into account ? Does the EA behave the same in live testing and in simulation ? These are all questions which we are unable to achieve due to the fact that there is simply no evidence we can use. There are no live tests we can compare to backtests. In fact, as I just said there is not even a backtesting statement.

The things the authors of this EA call “evidence” are just NOT. A bunch of graphs I can make in metatrader in a few minutes plus some images from a few trades taken which could also easily be made up in excel or taken from a series of random profitable trades is NOT evidence. What is evidence ? A 10 year backtest with a 6 month live test to which we have the investor password or the investor access verified by a third party (like in the case of myfxbook accounts which have this option). The forex mutant is nothing more than another sales pitch of a trading system for which there is absolutely no reliable evidence of profitability. Anyone who has had any experience in forex and who is looking for a profitable system with reliable evidence to prove so will be terribly dissappointed by forex mutant. Of course, the total lack of evidence makes the evaluation of long term profitability impossible, but the fact that all this evidence is missing points to the fact that it is simply absent altogether. As always, if the EA sellers places 10 year long backtesting statements with live results posted and verified by a third party like myfxbook. I will be glad to redo this review.

In the meantime, the overwhelming lack of evidence makes the claims made by the authors of forex mutant totally unsubstantiated and the trading system NOT worth buying or testing.
If you would like to learn more about long term profitable systems which can give reliable results in the long term and how you too can design and program them 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 !

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