Forex Expert Advisors : ForexRobotGain 1.02 an unbiased review

This week I have focused on reviweing expert advisors I found on my last search for automated trading systems. Today’s review will be focused on the evaluation of the ForexRobotGain 1.02 Expert advisor. I have to say that this expert advisor’s webpage surprised me a little bit with absolutely no ads, no text in bold captions, etc. However, lets now look at the claims and the evidence that the forexrobotgain EA creators have to offer us.

Well, plain and simple, there are not many claims made by the authors and not much evidence there to back the few. They do say that this was the only robot that worked for the past ten years consecutively and they show you a backtest of a 10 year period to show this. You should take into account when you see this that you can only trust backtesting results when they proved to be realiable against live testing, like in the case of the god’s gift expert advisor.

The results this people show us are just not very meaningful since we cannot judge how prone the expert is to exploit backtesting problems. Looking at the statements does not help that much either since the expert advisor seems to handle order closes internally so there is not a very good way of looking at the actual risk to reward ratio. The backtesting statements also show a 24% draw down but I could not actually see any losing trades, meaning that they removed them purposefuly or they failed to load the complete html, both of this things hinder our ability to evaluate the expert.

I have to say that given the fact that the evidence they give is as good as nothing and the fact that they fail to show us that their system can trade consistently under real market conditions this expert advisor is absolutely not worth buying. I will gladly change my opinion if they provide at least a 6 month live test that we could use to gauge back-live testing consistency to see how good the backtesting perfomance actually matches the way the expert trades on the real market.

If you would like to learn more about the realities of the world of expert advisor trading, what affects their profitability, which strategies work and which ones do not 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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