Expert Advisors... The neighborhood full of loose dogs
When I think of the forex automated trading market right now and the way in which it has worked for the past couple of years one analogy always comes to mind. I tend to imagine this expert advisor market as a neighborhood full of loose mean dogs in which you are alone and trying to get across. I think that this perfectly portrays the confusion, misinformation, exploitation of ignorance, unethical behavior and other "properties" of this forex automated trading world.
Why is this market so uncontrolled ? Why is this happening ? For me it is pretty obvious, large sums of money are involved and whenever large sums of money are involved it doesn't take long for the predators of our race to go against their "prey", that is, retail traders who have just begun and are just desperate or wishing to earn financial independence. These people will go to great lengths to deprive everyone of their hard earned money. People will give their money willingly because they don't know any better and they trust the people that lie to them to be honest. The more and more I spend time roaming around this smelly market, the more I realize how people are tricked and how low and dishonest these marketing tactics the use are.
For me there is just one solution to this problem, which is summed up in a single word : regulation. The expert advisor market is in desperate need of some kind of regulation of what can and cannot be sold. People would argue against this since people are free to buy whatever they want and everyone is allowed to sell whatever they want. That is true, but to lie bluntly in order to sell something is an entirely different matter. This EA creators sell you an expert they say can "triple you account every month", "turn x into 100x" and they say this systems have been "battlefield tested", "proved", etc, without any actual conclusive evidence to backup their claims. I did not go to law school but I do consider that tellings lies to sell people things is immoral and should be punishable by law. Specially if it causes these people to lose their money because of their purchase.
My request is simple, have a necessary degree of proof for each claim established so that they are forced to show some realistic, convincing proof of anything they want to claim. It is not that hard, I am just asking for these people to show us the truth, plain and simple. Of course, this will only become true if people gain knowledge and start to demand this in a massive fashion, in no other way will the expert advisor sellers listen. Mainly because most of them cannot backup any of their claims (as you see within my reviews). Sadly, as with the informmercial market, this is likely never going to happen because most people that enter this market are ignorant about this situation and ignorance my friends, turns people into blind men driving.
If you would like to know more about what I have learned about this market, how you can evaluate experts and their proof, build, test and program your own systems and start trading the forex market profitably using automated 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 !
Why is this market so uncontrolled ? Why is this happening ? For me it is pretty obvious, large sums of money are involved and whenever large sums of money are involved it doesn't take long for the predators of our race to go against their "prey", that is, retail traders who have just begun and are just desperate or wishing to earn financial independence. These people will go to great lengths to deprive everyone of their hard earned money. People will give their money willingly because they don't know any better and they trust the people that lie to them to be honest. The more and more I spend time roaming around this smelly market, the more I realize how people are tricked and how low and dishonest these marketing tactics the use are.
For me there is just one solution to this problem, which is summed up in a single word : regulation. The expert advisor market is in desperate need of some kind of regulation of what can and cannot be sold. People would argue against this since people are free to buy whatever they want and everyone is allowed to sell whatever they want. That is true, but to lie bluntly in order to sell something is an entirely different matter. This EA creators sell you an expert they say can "triple you account every month", "turn x into 100x" and they say this systems have been "battlefield tested", "proved", etc, without any actual conclusive evidence to backup their claims. I did not go to law school but I do consider that tellings lies to sell people things is immoral and should be punishable by law. Specially if it causes these people to lose their money because of their purchase.
My request is simple, have a necessary degree of proof for each claim established so that they are forced to show some realistic, convincing proof of anything they want to claim. It is not that hard, I am just asking for these people to show us the truth, plain and simple. Of course, this will only become true if people gain knowledge and start to demand this in a massive fashion, in no other way will the expert advisor sellers listen. Mainly because most of them cannot backup any of their claims (as you see within my reviews). Sadly, as with the informmercial market, this is likely never going to happen because most people that enter this market are ignorant about this situation and ignorance my friends, turns people into blind men driving.
If you would like to know more about what I have learned about this market, how you can evaluate experts and their proof, build, test and program your own systems and start trading the forex market profitably using automated 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 !
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