Forex Expert Advisors : Forex Lexus an unbiased review
Another system that was suggested for me to review a few days ago is the Forex Lexus expert advisor. Today's post will be dedicated to the review of this expert advisor based on the information given by the expert's creator. I have to say that this expert is totally strange as it deviates from what I am used to review.
When you arrive at the expert's website, the web page seems to be pretty badly rendered and structures. There is also absolutely no intent to hype the customer, to give him false claims or anything of this sort at all. I have to say that I appreciate the author's intent to make clean, clear cut website where you go straight to the evidence with no crap to read beforehand.
I have to say that despite the author's intent with the website and his seemingly good intentions, the expert advisor fails to deliver any significant evidence to prove it is profitable. First things first, the author provides live account statements which don't have any trades at all, so it is very hard to evaluate the expert in this way (well, I guess he just set it up so we should give the author some time to deliver the evidence). Now, the author shows some backtesting and then says that it is not suitable for year long backtests because it requires optimization every certain amount of days. Well, I have to say that in my experience I have never seen one single long term profitable trading system that requires optimization. The expert should be able to do this by himself so that the amount of lag due to the optimization to market conditions remains minimal. If the system cannot be backtested for the past ten years, analyzed and then confronted against live results, then there is not anything else to say about it's trading.
After looking at the website and going through the evidence provided by the author I would have to say that this system is NOT worth buying since there is no way in which we can confirm that the system can be long term profitable. The system also runs the risk of having periods of very high draw down if market conditions shift too quickly and repeatedly (while systems that have adjustable logic, by ATR values for example, will most likely endure the markets much better). Again, I have never ever seen a long term profitable system that ahs to be optimized every 30-45 days.
If you would like to learn more about automated trading and how there are actually free long term profitable systems you can profit from 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 this article !
When you arrive at the expert's website, the web page seems to be pretty badly rendered and structures. There is also absolutely no intent to hype the customer, to give him false claims or anything of this sort at all. I have to say that I appreciate the author's intent to make clean, clear cut website where you go straight to the evidence with no crap to read beforehand.
I have to say that despite the author's intent with the website and his seemingly good intentions, the expert advisor fails to deliver any significant evidence to prove it is profitable. First things first, the author provides live account statements which don't have any trades at all, so it is very hard to evaluate the expert in this way (well, I guess he just set it up so we should give the author some time to deliver the evidence). Now, the author shows some backtesting and then says that it is not suitable for year long backtests because it requires optimization every certain amount of days. Well, I have to say that in my experience I have never seen one single long term profitable trading system that requires optimization. The expert should be able to do this by himself so that the amount of lag due to the optimization to market conditions remains minimal. If the system cannot be backtested for the past ten years, analyzed and then confronted against live results, then there is not anything else to say about it's trading.
After looking at the website and going through the evidence provided by the author I would have to say that this system is NOT worth buying since there is no way in which we can confirm that the system can be long term profitable. The system also runs the risk of having periods of very high draw down if market conditions shift too quickly and repeatedly (while systems that have adjustable logic, by ATR values for example, will most likely endure the markets much better). Again, I have never ever seen a long term profitable system that ahs to be optimized every 30-45 days.
If you would like to learn more about automated trading and how there are actually free long term profitable systems you can profit from 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 this article !
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