Forex Expert Advisors : Shark by forexeasystems.com an Unbiased Review

Today I am going to focus on the review of a very interesting trading system called Shark, made by the people at forexeasystems.com. I have to say that I bought shark almost one year and a half ago and therefore I have a lot of experience with this expert advisor and I feel I have traded it enough to give a deep opinion about it beyond the actual evidence provided by the authors on their website.

First of all, I have to say that I purchased shark because I considered it a likely profitable trading system. The system at the time seemed to have important live testing testing and backtesting performance that showed the expert to be profitable at least certainly from 2007 to 2008. Back live testing consistency was not perfect but it was good enough as to consider the backtesting, although over optimistic still predictive in someway about the experts profitability during past market conditions.

After purchasing this expert and trading it on several brokers and several demo and live accounts I have to say that I utterly and totally dissappointed. I have to say that through all the testing I have done on FXDD, FxLite, IBFX and FxClearing on demo and live accounts I have not been able to reproduce a single month of forward testing results from the people at forexeasystems. I loaded the EA following their instructions, always traded the latest updates but I could never reach, as a matter of fact, even a profitable single month. This expert advisor actually got a live accoutn down more than 30% once, traded on the same level of risk as the account shown on their website.

I don’t know why this very important differences between my trading and their trading arises. I tried demo and live accounts on several brokers, and I have got the statements that show this to be absolutely true. However, as I said, I have never been able to reach a single month of profit with this EA. After about a year of trying I finally stopped trying on April when testing from February revealed loses every month and absolutely no correlation with their live or forward testing with my account having much larger loses. My newsletter susbcribers can take a look at this by accessing the trading results zip, located on the root of the ftp server in which the results for shark’s trading are included.

I have to say, I would not recommend buying this to anyone as the unprofitability of this EA is absolutely evident to me after one year and half of trading it, as I said, on both demo and live accounts. If you would like to learn more about how you can evaluate expert advisors or how you can distinguish between long term profitable and unprofitable trading strategies 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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