Forex Expert Advisors : Forex Secret Agent, an Unbiased Review

Today another expert advisor sees the light and with it another one of my reviews comes out. Within this post I will be talking to you about the recently released Forex Secret Agent trading system. I will talk about the evidence provided by the author and whether or not this evidence backs up the authors claims, I will also talk about the reliability of the evidence and overall, I will give you my opinion about whether or not this trading system will be able to achieve long term profitability. In the end, I will also give you my opinion of whether or not this expert advisor is worth buying and testing. Is the Forex Secret Agent the James Bond of Forex systems ? Can it prove it can deliver massive profits ? Keep reading and find out !

I have to say that the tactic used to sell the Forex Secret Agent seems to be revolutionary in the sense that they are not advertizing the system as an fully automated system but as an “informative” tool which tells people when to enter and when to exit trades. I am very confused by this concept since it seems to me that trading a fully automated system would be much more convenient than having to manually confirm or enter trades when the system signals them.

Of course, the objective would be for the trader to actually confirm that the trade is sound and worth taking but wouldn’t this mean that the trader is able to trade for him/herself and doesn’t need the system ? If a person is able to determine when it is or it is not worth getting into the market then why would such a person need a signaling system ? If a person doesn’t know and wants to follow signals then what criteria does this person have to confirm or deny trades ? In the end I think that the approach doesn’t make a lot of sense and I believe that a fully automated system has more relevance when addressing a crowd that doesn’t know how to trade but wants to trade from signals. Making the EA request confirmation on every trade or merely provide the information to enter trades seems like an inconvenience for most people.

It is worth noting however that a section of some backtesting results is shown later on the website pointing out that the system is able to trade in a fully automated fashion (at least it would seem from this). Then we have the usual hand-picked results taken from the backtests portrayed as actually live executed results, a very misleading and dishonest tactics which talks about the ethics of the Forex Secret Agent’s seller. We can also see that the backtesting statements – which are advertized to turn 5 into 200K in a year- have a VERY unfavorable 10:1 risk to reward ratio and a very small average TP meaning that backtests of this system are probably worthless and absolutely OVER estimate profitability. There is also a complete absence of 10 year backtests, something which also makes us doubt the long term profitability of the system although a system with such trading tactic doesn’t probably offer reliable backtests anyway.

Then we have also the COMPLETE absence of any investor-access verified live trading results, showing us that the author of this system is not willing to risk his own money trading the Forex Secret Agent. If the author had actually traded the system – as he says he has – then it would be very simple to add that account to myfxbook and show us investor-access verified results. Why aren’t these results shown ? Because simply the author doesn’t believe in his system and probably has never traded it, pointing out that it is much easier to make money in forex selling a system than from trading it.

Overall, the Forex Secret Agent is another over-hyped system with a complete absence of any reliable evidence. The backtesting evidence shown is not validated by live trading results and – more importantly – no verified live testing results are shown. The Forex Secret Agent is just a piece of software with no evidence of profitability and an author unwilling to test the system on his own live accounts. Remember that the burden of proof is on the author, NOT on your live accounts so if anyone should blindly risk their money it definitely shouldn’t be you. For all the above reasons, I consider this trading system absolutely NOT worth buying or testing. The author should show at least a 10 year backtest coupled with a 6 month investor-verified live test and a backtest of this same period if he wants me to redo this review.

If you would like to learn more about the world of automated trading and how you can trade with a high like hood of achieving long term success using expert advisors 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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