After further evaluation of the website we also find some pretty bad surprises. The system uses simple backtesting to “proof” profitability, something which is definitely wrong. More over, the backtesting is very limited with only results shown for the year 2009. Why would they choose to only show the last year when it is clear that backtesting can be done accurately from 2000 ? The reason, I think, is associated with the fact that the forex transporter system uses a progressive money management system.
Certainly you might think that the forex transporter does not use an unsound money management system because the lot size is constant. Big mistake, if you closely examine the graphs and the statements you will notice that the actual profit/loss of trades is increased as the system loses trades. It certainly does not increase lot sizes so it increases the TP and SL in order to arrive at a money management progression without altering the lot size. The result is an equity curve which is typical of martingales or any other type of progressive money management strategy. The so called “profit equalizer” is nothing but an uncontrolled increase in risk as loses progress which will put your account at the risk of a wipe out eventually. It is not a matter of if, just a matter of when. This wipe outs might have happened in other years and this is the paramount reason why they are hiding the complete backtesting results.
Let us also think about the fact that there is no way in which we can trust this backtests. As I have always said, backtests can only be trusted when there is true back/live testing consistency to prove that a system actually trades live as it does in simulation. There are too many tactics to generate good results in backtesting which can be used to show good results. Given this fact, we cannot trust EA sellers to be honest, we MUST have this confirmation. Why isn’t there a live test so that we can compare and have reliable proof ? Why would they not trade the system they are trying to sell ? Your right, they probably want to profit from selling you the EA instead of from trading it.
Now let us also go down a walk through honesty lane. Why do people show fake testimonials ? I will never know. If the system is good why in the world do they have the need to invent these fake testimonials ? How do I know they are fake ? Just take a look at the following screen shot. I doubt that “business man with broad shoulders” ever tried the system. Please, do us a favor and don’t treat us like we were retarded, we can also go and get royalty free images.
–
–
What is forex transporter ? It is a system which does not have any reliable, convincing information to backup its claims. It is a system that uses unsound trading tactics to recover loses, tactics which expose the system to an uncapped market exposure. Because of these reasons, the forex transporter system is NOT worth buying or testing. This system is definitely a good example of the dishonest, unethical behavior of many EA sellers, an excellent example of how things should NOT be done.
If you are fed up with all the hype and unreal claims made by EA sellers and you would like to learn more about the way in which automated trading and trading systems work and how you too can design and trade your own 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 the article !
