Scammers selling expert advisors?

[oilfxpro]

I got scammed - Touch The Sky - The_Market_Wizard

[Ravique]

Stary that never gets old. People are so fascinated by the possitibility to get rich with Forex, they'll do everything, and ignore everything to stick to their hopes.
This stubborness is so hard, that people don't even think about the simple fact, that why would a person sell his EA if it makes money? There is no logic behid that action, besides the fact that it is a scam.

[fxtrendline]

That's right the real EA is our self

[oilfxpro]

Hi

Ask yourself two simple questions

If the system is good and making money consistently , why is he selling it?
All he has to do is trade it on auto lot and make MILLIONS $ trading it.Selling EAS for $100 to $300 is not very profitable compared to trade a good EA

Participants - Automated Trading Championship 2007

Does he not have the confidence to trade his own system with real money?
Maybe a dodgy system /scammer here is promoting his scam .Where are his actual traded broker statements ?Are the profit claims made by a few scammers aiding and abeiting a scammer?

none of them are offering real account access trading with real money

I don't trust the expert advisors made by commercial sellers.They show you forward tests and backtests on dummy accounts, of the recently profitable expert advisors.

Ask them to show you several years of real account statements .These statements prove the conviction and belief of the sellers .If they have not got real account statements ,it proves the sellers do not believe in their own expert advisors

Most of the commercial expert advisor sellers fail to provide longer backtests,let alone
forward tests .The forward tests provided will be less than 3 to 6 months .After every EA failure/account blowout ,they start with new forward tests , so they don't have long real account statements or forward tests..Backtests of several years gives an indication of historical performance and consistency of expert advisors


The vast majority of commercial expert advisors are sold by crooks and scammers ,so if you buy from them you are likely to lose money plus the loss of money in purchaing expert advisors.Some expert advisors are very very good and worth paying $1k to $2k, really a very cheap ticket into the profitable 5% club

The only sure way of knowing the quality and performance of expert advisor ,is by having access to real live trading account as an investor and seeing the expert advisor trading and in action.Most of the commercial Expert advisor sellers will only show you dummy demo accounts and forged/manipulated backtests and forward tests.They can now provide foregeries of live account statements showing profits ,which are not true.The expert advisors sold on Ebay can be lethal to your profits.Most expert advisors will lose you money
.
I avoided all these scam sellers and made my own custom expert advisors and they are O K


OILFXPRO

[oilfxpro]

Conquest expert advisor nets 753% gain in one year - Page 2

[oilfxpro]

http://www.scam.com/showthread.php?t=30964

[oilfxpro]

TOUCH THE SKY EXPERT ADVISOR FOR META TRADER 4

[oilfxpro]

Trading the news expert advisors

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Real traders do not straddle or trade the news .

just the broker widening the spread kills the trader

YouTube - Oanda spread on Non farm payroll 2/2/2007

If the broker widens spread trader is screwed

Do scammers sell EXPERT ADVISORS to trade the news or responsible sellers?

trade the news expert advisors - Google Search

oilfxpro

[elektrance]

Originally Posted by oilfxpro

I got scammed - Touch The Sky - The_Market_Wizard

I also got scammed with this one! It was a good lesson for me, though....

[bunglungchingdong]

You cant turn 10k into millions in a few years its impossible.
But you can turn 100k into just over a million.
Most people can never get 100k.
Many can never even get 10.
So they sell stuff instead.
When I see an EA saying minimum account to run on 100k then ill know its realistic.