Forex Expert Advisors : MatrixNN unbiased review

Since I am always looking for new expert advisors out there I am always very eager to listen to any suggestions any of my newsletter subscribers may have. Several days ago one of my subscribers talked to me about the MatrixNN expert advisor asking me to check it out and tell him what I thought about it. I answered telling him that I would write a review about the expert advisor, so here it is, my unbiased opinion about the MatrixNN expert advisors.

Well, at least, the matrixnn expert advisor’s website seems to be quiet polished and well done. It is also worth noting that there are no videos or excessive marketing on the website something which I value a lot since most commercial expert advisors seem to have a very excessive amount of marketing. At first glance, the matrixnn expert advisor seems to be aimed at someone who more or less knows the forex market and have an idea of what an expert advisor is.

Now, the expert advisors themselves were a big dissapointment. The expert advisors do not have any live or demo tests (except for Matrix v4.0). The only conclusion you can arrive at when this happens is that the expert advisors fail to replicate the results they show on backtests. This is absolutely no suprise to me since the expert advisors seem to have a very classic and wrong trading approach. The expert advisors, as most commercial experts out there, seems to be based on short term profitability. The expert advisor has an exceedingly large risk to reward ratio of about 10:1. This is of course a sign that the ea will not be able to replicate it’s backtests on a live account since this is what happens all the time (in my experience) with experts that follow this type of logic.

It is obviously not a coincidence that all succesful forex traders I know never trade with a risk to reward ratio higher than 1:2. As I have said many times, these expert advisors that have large risk to reward ratios are most likely doomed to fail. In order to prove the contrary, an expert advisor seller should at least provide us with at least a year long live testing with investor password access. Again, if you are reading this and you are or would like to become an ea seller, please, do not insult our intelligence and do not be so unethical to sell us something that is obviously not proven enough. Of course, for all the above reasons, the MatrixNN expert advisors are NOT worth buying. As far as Matrix V.40 goes, if the ea creator is able to put a live account investor access that verifies that live trading results are real and not fabricated I would be glad to reconsider my opinion about that expert advisor (athough I still consider the logic to be very weak and is almost certainly going to blow up eventually, a very good reason why there aren’t any live tests for the other experts ?)

If you would like to learn more about my criteria for expert advisor choosing as well as other free and commercial expert advisors I have reviewed 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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