Forex Expert Advisors : forexrobottrader an Unbiased Review

Certainly today I am going to talk about a very well known and “tested by many” system found at This system, called Don Steinitz HAS MTF has been around for a little bit more than 2 years and it has, according to the author, generated a huge wealth of profit within this time. Today I am going to use this post to talk about this system, review its tactics and tell you whether or not I consider this system worth buying or testing according to my criteria for a system’s long term profitability. As always, my reviews are unbiased as they can be as I get no reward for either positive or negative remarks about any system.

The author seems to restrain himself from making to many claims about the system but he does say that the EA has a +1959 average monthly profit in pips. Let me say that it is very misleading to say the profit in pips of a trading system as this does not actually mean anything because the lot size assigned to each trade can be different. You can still have a system that made 2000 pips in a month end with a losing period depending on the actual equity risked per each one of those pips and if some trades risked more than others. Of course, reporting results in pips is a very misleading tactic that usually leads people to believe that a system is more profitable that what it really is.

Now, the EA seems to be based on some very unsound trading tactics. Not because it is based on a multi time frame HAS but because the “no loss” strategy implies that the EA will never close its losing trades. Of course, having no way of closing losing trades is just a recipe for disaster. As losing trades accumulate they will pile of the draw down eventually wiping out the trading account used by people. Since this has been around for 2 years it is likely that this has happened to some or even most of his customers. Of course, if you go go forexpeacearmy you will find that there are many reviews of unsatisfied customers who got their accounts wiped out because of the unsound and stubborn trading tactics of this EA. It is obvious that not closing losing trades is an unreliable tactic because one simply cannot be right all the time and the market cashes on the unlimited market exposure given enough time.

There is absolutely no investor password access to verify the truthfulness of any live tests that may have happened, the backtesting statement links are broken and the graphs do show that the tests don’t have a 90% modeling quality. This is of course totally unreliable since we need at least a 90% modeling quality to do back/live testing consistency tests. Of course, this n/a modeling quality is most certainly based on a high number of chart mismatch errors which speaks for the unreliability of the backtests done. The mt4stats live/demo test is still to young for us to say anything about the “no loss” tactic which is the reason why this EA dooms accounts to wipe outs.

Obviously in virtue of this unsound money management tactic, the absence of reliable backtests and the lack of availability of investor access to verify the “forward/live tests” done, I consider this expert NOT worth buying or testing. Of course, as soon as Don Steinitz provides the appropriate evidence I will be more than happy to reevaluate his trading system to include this new evidence and a new view on its long term profitability. If you are interested in finding long term reliable profitable systems or you are interested in programming them 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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