ForexAutoPilot by Mark Copeland

REVIEW:

This ForexAutoPilot EA was developed by Mark Copeland. To prevent any confusion it is just the same title, but not the same owner as FAPS system. Mark's site looks really cool with good package green graphics and nice words about profits...Again nice backyard and luxury Bentley (that became a tradition on forex websites, I wonder why don't I have it ;) So I got really excited about it and decided to buy the system. Instructions were pretty nice too. But what a shame, I was really dissapointed with results. Take a look on the backtest of Mark's system

Click to enlarge the image It makes some profits in 2007 and then totall drawdown and deposit loss in 2008. You could better flip the coin...

Steinitz HAS MTF Robot

REVIEW: Many visitors of my website asked me to review this Steinitz HAS MTF Robot by Donald Steinitz. To be honest I was really impressed by the quality setup process of this EA and detailed instructions PDF. The EA uses several indicators and has TONS of parameters. (!!!) I never saw such great number of parameters before, good work.

Anyway Steinitz HAS MTF Robot Backtest looks strange to me Click to enlarge the image

Maybe I used wrong pairs or wrong settings? I just used the default settings with recommended currency and timeframe. To be honest I gave up. I dont have enought time to optimize tons of settings of this complicated system when I have a lot of other good profitable systems to use. I would say this Don Steinitz's system is too complicated for ordinary users like most of the fellow traders..

Trend Forex System

REVIEW:

The TrendForex Systems was made by trader John Chen. First impression here was also really bad, I did not like their site with HUGE red fonts and anoying POPUP that I even could not maganage to close.. and again long text about "super-powerful system" and stuff like that. But when I finally ordered and downloaded it, i was satisfied enough with it. TrendForex System Identifies the trend and can work for forex currencies and futures. After reading more information i found it rather "easy-to-understand". System gives clear entry and exit rules as well and can be applied for all timeframes and all currency pairs, futures, stocks, and indices... (as they claim, but of course i did not tested that because i trade only forex you know). About results here - they did not impress me too much, got the weak trend with small profit the next day I use it. The system is rather time-consuming for me.

Expert Forex Systems Review

REVIEW:

The expert-forex-systems site looks rather good with simple conception and clean text. The traditional popup was easy-to-close:) After reading tons of traditional junk about "incredible system" I decided to give it a shot. The most interesting fact for me was idea to provide real private forum for customers where they can exchange opinions, discuss the system and its parameters and maybe help each other. Lets get back to the system itself. It is divided into 2 systems that complement each other. The bonus is an integral part of the package (helps you place the trades). Hoowever you need to trade via the Metatrader software oherwise it's useless. The first day was bad.. i ended up -50 Pips. 2nd day i struggled as well trying to break even my loss. -10 pips. Recovered a little the 3th day. And at the end of the week i managed to get into plus +10 pips. Hopefully finally I got the profit +110 pips. So the system looks rather risky for me.

FOREX-MHV Review

REVIEW: Forex-MHV is rather old system. Indeed they have 2 system, the 171322182723 formula, which performs pretty well for a very simple system, and the DIMONX6 system, the range trading system. They offer 2 strategies for Dimonx: Five days of trading per week and Three days of trading per week. As I noticed forex-mhv was "out of service" for a long time and now they are back with new version again. I am going to test this new version and report about results in nearest future.

Update Finally i noticed that formula171322182723 sometimes really generates few good signals, but DimonX does not work for me at all. Also the site was moved to filedepot.eu/fx/ new link

Freedom Rocks Review

REVIEW:

Freedomrocks is old well-known system. Site has good flash presentation about trading idea and business concept (reselling of software by MLM mechanism. You can also subscribe to member's area and pay monthly fees. Ok, i read a lot of good and bad reviews of FreedomRocks and decided to test it myself. I got subscribtion for 1 month here. Inside member's are I found portfolio manager and allocator and a lot of useful links to broker comparisons, detailed manuals and also they hold audio conferences. The idea of system is easy - you open 2 orders at the same time for 2 cross currencies that correlate each other, for example Euro/USD and USd/CHF. If one goes up, other goes down in some correlation, so in some periods you should be in plus. My first trade was really profitable, I made over 560 pips in 1 week and decided to close the trade. But second week was really owfull for me, my trades went to huge minus and finally I got margin call after 2 weeks of staying in huge drawdown. So for me this system did not work, maybe I opened my trades in "wrong place in wrong day". I'd better say you can resell it and make money without risk ;)

Winning-Solution Review

REVIEW:
First of all I would like to say few positive words about this WSS project. The site looks great and has lots of good features, such as private forum, chat discussions, free Forex Tutorial Resources and much more. Admin gathered a great friendly community of traders (over 4000). It is well organized and has a nice support team. The only problem here is the system itself. WSS system showed some good results in the past (you can see their way to million from 1,000 usd starting from 2006 in the results section. But it turned out to be a loser in 2008. Nearly all months are not profitable. I heard they are thinking about changing the system now but i guess it is too late. With such high price ($199 membership) it is not worth its money.

Forex Annihilation Review

REVIEW:

These system is one of its kind. I never saw any system before that even failed to pass the standard strategy backtest. When I run the backtest on the recommended EURUSD H1 timeframe from 2003-2008 I only see the loss. All other reviewed systems at least can work under some conditions but this one..

Take a look yourself:
Click to enlarge the image

I decided to ask the vendor if he performed the backtest himself and what is the problem. Waiting for reply.
From vendors' website: "This is truly every traderРўs dream..." hehe

5EMAS-forex-trading Review

REVIEW: 5emas website is rather simple and clean, not overloaded with bulshit and junk text, just main points and features, I like that stuff. System is complicated to get into. You have to take the necessary steps to understand forex to its core. I suggest you take a free forex course before you try this one out. The Bonus books are a nice read. Im a big fan of the "art of war". Have read it in college and it was nice to check it out again ;) System is based on 5 five moving averages with different periods. Signals to enter or exit can be different. It may be the intersection of 2 or 3 EMAs, or maybe a intersection of the price and EMA. I think everybody knows one great signal: if the price crosses the moving average from the bottom - it time to buy, if from the top - time to sell. It's written about this "signal" in every Forex trading book. But if it is so easy, why not all the traders makes profit? The answer is clear: the MA is just an indicator showing an average price of any currency pair. And no wonder that you cannot say that it's 100% right signal.

And it's practically all the system. No magic. Nothing new. But underwater rock is that it does not always work, cause it doesn't take into account the fundamental factors, the volumes, the ratio of "bulls" and "bears" and technical figures. So, I can advise it only to experienced traders, as an addition to their system with other indicators or like a foundation for their system, but not more. The novices at Forex will not be able to use it and make their trading profitable. The system is too crude. Their advisor is a kind of very long way to margin call, like a standard MetaTrader4 MA advisor. And even the bonus books will not help you.

Update August 2008 I dont use this system for a long time and recently I got rather bad feedback about it from my readers. Brian Watt wrote "..here some examples of 5emas. As you can see from graphs that whenever the alert says sell you should buy & vice versa. in your review you gave it a high rating. they do say that they only give an alert but this is rediculous. In 5 days I am down $7400, luckily only demo money. The only way their system can work is to do opposite of what they say.

Click to view Example1 or Example2