Forex Expert Advisors : Forex Boomerang an unbiased review

Today’s post will be dedicated to the review of an automated trading system that came out the last time I was searching for new expert advisors to review. This expert advisor, called forex boomerang is according to the author everything you should need to get out of your 9 to 5 job. The forex boomerang expert advisor is supposed to be able to double or triple your account on single trades with very limited draw down levels. The objective of this post is to evaluate these statements against the evidence provided by the author and gauge whether this expert advisor has the merits it requires to be considered worth buying and testing.

The person making this website makes several misleading statements, starting from the statement he makes on one of the backtests where he says that 90% modeling quality is the “highest possible accuracy”. Even though metatrader does not store tick data it is possible to download tickdata from external sources and have tests without one minute interpolation that give you 98 to 99% modeling quality. The difference between a 90% and a 99% modeling quality backtest can be huge, as huge as changing a massive profit for an account wipe out (this of course, highly depends on how much the expert relies on one minute interpolation errors and mid candle entries for profits).

This guy’s claims are just outrageous, for example “10K Turns Into $453,258.28”, that is a profit in excess of 4000%. Does he think his customers and the people who access his website are stupid ? I think he does because this statement is just insulting. Look at the evidence provided of the expert’s profitability, just a bunch of backtesting. The expert never turned 10K into anything because those trades were NOT real, let’s not confuse reality with fiction now Mr. EA seller.

Things just turn more and more odd from here on with absolutely no evidence backing up anything this guy says. There is absolutely no forward or live testing showing that shows that the actual expert’s trading even remotely resembles what is achieved in backtesting so there is no way in which we can know that the results shown are not fake or that the expert does not rely heavily on hindsight or other backtesting failures. The system probably does, as you can tell from the unrealistic profits reached in the backtests (which can be achieved quiet readily exploiting any of these failures !). Without any evidence to confirm back-live testing consistency, it is just pointless to show us expert advisor backtests which have a reliability we cannot evaluate.

Trade examples are also pretty pointless since there is no statement to compare them to to see how frequent they are or what the nature of the losing trades actually is. This guy is really fishing for the easy targets with this expert advisor because no one who knows a few things about forex trading would ever purchase a trading system with so little evidence to support it’s claims. So as you can see, this expert is absolutely NOT worth buying for the absolute lack of evidence to support the really irrealistic claims of the author.

If you would like to learn more about forex automated trading, why commercial experts fail time and time again and how you can start making profits from long term profitable stable 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 the article !

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