Catchy headline eh? Sorry to put a downer on things but this post doesn’t contain ‘the best trading forex robot system ever’. Nor does this site most likely.
I have since starting this site tried to add some, what I feel is, useful free content. I do acknowledge that the content is taking it’s time to increase in quantity but that is mainly due to allowing myself, trading time, family time and gym time, which come before anything else in my household, albeit not in that order.
Anyway today I was lucky enough to have a bit of time to myself. (Partly due to being stopped out of a trade this morning which freed up a few hours in the day.) So I thought I would do a search on the internet for anything new trading system wise.
I was astonished by the amount of useless information out there for a start. Some of the stuff that is targeted at new traders is just such a waste of time and of course is only marketed for free in order to get the newbies to sign up to some free trial or some such.
The only thing I would say to newbies is…if you want information…get on a trading forum. Okay, there will be alot of losing traders on there pretending they are winners spouting lot of B.S but if you read in between the lines you can get some great advice from people who have really done it (win, lose or draw) and mostly it’s all free!
The second thing I noticed today whilst searching the net was all the forex robots systems out there. There seems to be a new metatrader system released every other week these days. Old ones are rehashed and extra words like “evolution” ” new!” “ultimate” are thrown in front of old expert advisor’s and re-marketed.
My pet hate are people who spam comment boxes on decent websites with things like..”I trade a forex robot that produces consistent profits…but most are scams”. Naturally these people don’t just say which system they trade. No..it just happens they have a website…the low and behold….after a fantastic review points to another site that sells the system. Which obviously they get an affiliation fee for ever sale through that site.
Whilst I don’t mind people trying to make money in this world. There is something really annoying about people who do it dishonestly. I could never sell something I did not believe in or was not in my opinion good value.
In fact, around the end of 2008 I decided to test the water with this whole selling your trading system concept. I decided I wasn’t going to sell a forex robot as an affiliate so I decided to write my own Dax trading method. I wrote it and manually back tested the strategy and then put it up on sale on eBay for 10 days. I didn’t sell one copy. Why? Because I was totally honest in it. I told them they will make some losses, they will most likely have a strike rate in the 50% and probably average out at 5 points a day profit over the next 6 months and then the system might go into break even mode.
Just goes to show people don’t want the truth they want some fantasy that will make them better than the guy next door or better than his best mate from school.
Anyway, as mentioned before in other posts, trying find these great forex robots and writing a decent review on them and other trading systems is what I wanted this website to be about. However, I have tried over the last week to try and find someone who genuinely trades one of these forex EAs that does not sell it…and….I can’t. I suppose I should not be surprised but I would like one so say..”yup..I trade this one profitably.Here is a real trading statement that proves it but I am not selling the system”….just one to say it would be enough for me.
Okay so here is the challenge. www.GreatTradingSystems.com is offering £100 to the first person that emails in to us with proof that you have traded an (just one) automated forex robot for the last 12 months and are in profit for that trading system. You must have traded live and as the system states not a version of it you have created. And we will require not only screen shots of all your trades that are shown on your metatrader account but your broker accounts to match. Yes that is right….broker accounts. Any broker worth their salt is not just going to let you go home with your metatrader trade report. They will have their own statements of your trades. And the two must match. None of this…”this is my real trading account” (wink wink nudge nudge). Challenge is open until 26th August 2009.
I will post an article up at the end of this challenge period and let you know if anyone has claimed to be the first person I have met who trades a forex robot successfully for 12 months. In fact I hope there are loads of people out there that are, if only because I believe the more people making money from trading EAs and similar trading systems the more free information there will be about them and the less opportunities there are for people who don’t mind taking peoples money for selling crap.
Anyway, pass this around to people that boast they trade robot EAs successfully and let them put their accounts where their mouth is.