Forex Expert Advisors : dnafxtrading , an Unbiased Review

Usually I try to write reviews about products that are of interest to my website viewers and customers. I try to write about the expert advisors out there that people are most likely to come across and other products I consider to be good, etc. This time, I write this review because someone has spammed my website for the past 2 weeks to the point of making me specially angry. I really don’t know if it is the dnafxtrading.com web master or simply someone who is extremely curious about this website but hey, I know spamming when I see it and this person was simply trying to get some links across to his or her website. Well, that person may now stop spamming my blog because I decided to write a review about the ea offered at the dnafxtrading.com website.

At first, this ea selling website does not seem as elaborate as most of the more commercial expert advisors. I mean, it seems like a programmer tried to market it, not a truly proffessional marketer who knows how to make people buy things (websites like fxkiller, fap turbo, forex funnel, are all evidently produced by proffessional marketers). So ok, the website does flash some absurdly high profit values like 50,000% since 2001, but ok, I always give expert advisors an opportunity regardless of what the creator has to say about them. I’ll look at the trading statements myself and give my honest opinion about them.

First of all, the seller should not make claims of such high profits based only on backtesting reports. The seller should explicetely say that those results are per the backtesting that has been done, otherwise, people could be confused and imagine that these results are actually real. Now, as per the backtesting, the ea does include a stop loss, it does trade with orders separated more than 20 pips from the entry price and it also has average profits above the average losing trades. These are all positive signals for the expert’s logic but still, backtests are done with the benefit of hindsight so they should not be taken in so lightly to evaluate an expert’s profitability. People that have read my ebook on automated trading know that my criteria is far stricter and requires forward and live testing.

The creator does seem to provide live testing information updated in a live fashion but he or she fails to provide us with investor access information. How do we know that trades are in fact made by the ea and that the statements are not manipulated ? That would be the only way. But ok, if we assume that the seller is honest and we are looking and genuine trading results, they are still too few to consider the expert worth buying. Ok, the creator has posted live statements and that puts it in the “may be worth buying at some point” so we will let this ea run for at least one year before we decide if it’s live trading is consistent with it’s backtesting information and the software is in fact worth purchasing and worth trading. (this EA has been reevaluated and it’s status is curently NOT worth buying, a revised review has been published in 04/08/2010 to consider third-party verified live tests provided by the creator)

If you would like to learn more about other commercial and free expert advisors I have tested and reviewed as well as more in depth information about how to choose an automated trading system 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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One Response to “Forex Expert Advisors : dnafxtrading , an Unbiased Review”

  1. anon says:

    DNAFXTrader now has live, 3rd-party verified results (www.dnafxtrading.com)

    I think you might want to check them out again

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