Forex Expert Advisor : Forex Terminator an unbiased review – revised

Today I’ll be reviewing an expert advisor I had been putting off for a while, the forex terminator. I had not reviewed this expert advisor before even though I had several requests to do so because I didn’t quiet know how to word my opinions about it. After about an hour of thinking about all the evidence given by the creator and evaluating it against all his or her claims I am now going to write my unbiased evaluation of this automated trading system.

Let us start from the beginning. The first thing you see wheny ou acces thef orex terminator website is a big text that says : “His ‘Sneaky’ (And 100% Legal) Trading System That Just Generated Crushing $2,565, $5,433, $8,320, $60,258… Trades..Completely On Autopilot”. After that we see what appears to be a demo trading account screenshot showing these trades taken as profits. Well, there are loads of things that are misleading about this. First, we don’t know the account balance or the market exposure necessary to reach such profit values. As I have said before, it depends on your equity whether these trades are good or bad since a 2500 USD profit on a one million dollar account is small while in a 500 USD account it is highly unrealistic.

As a master of illusion, the creators continues to be misleading about the trading system showing us evidence that just does not cut it. If you notice, all live testing account screenshots shown are terribly small and no mention is ever given about the potential draw down levels reached by people that trade this system. For example, the fact that the system was able to double and account on a demo account so quickly would make me RUN away like hell from it. No matter what the strategy of this system is, if it doubles an account on a week it means that it has a HUGE market exposure that probably exceeds account size ! That is, this expert advisors seems terribly risky and was probably engineered to trade that way to show this extremely high short term gains which in the long run could only mean account wipeouts.

Why doesn’t he show any long term statements ? Well, the most probable answer is because this expert advisor, as many out there, is just geared to be profitable in the short term with it’s high risks and will not work as a long term profitable trading system. Why isn’t there a backtest from 1999 showing us how the system performed for the past ten years ? why isn’t there a live account from 2008/08 which is the date of the first forward taste to today ? The EA creator would have a year long backtest which would prove or disprove all his claims without any doubt. The answer to these questions is obvious, this is just another EA geared towards the people out there who are looking for an easy profit and don’t distinguish a profitable system from a system that would wipe their account like this one.

Of course, this expert advisor is NOT worth buying and again, I would probably run away from any system with a market exposure like the one we see from their very limited amount of forward testing evidence. Now, if you would like to learn what is really achievable in the world of automated trading and how you too can start to distinguish and use long term profitable trading systems 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 this article !

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