Auto FX Payday
Auto FX Payday is a new forex robot that is being released today, January 23 at 9:00 am EST. This post will be our thoughts on the information we have at hand which is just the sales page and posted results by the vendor as we don’t have access to the robot yet. So let’s dive in and see what we have so far with this one.
Here is their headline quoted straight from their sales page:
“How a computer programmer discovered the secret to make a fortune in the forex market and managed to extract over $26 million in profit with ease”
Ok so Sam Taylor, the guy behind Auto FX Pay Day claims to have made over $26 million in profit, but wait! Where is the trading report for this 26 million dollars? All I see is a questionable report of a $166,000 profit account from a $1000 deposit. But hold on just a second, look at this quote from their sales page:
“Now check out the same stats below verified by a 3rd party website (myfxbook.com)”
He then shows just a screenshot of what is supposed to be a legitimate myfxbook account for this $166,000 account, but there is no link to the actual myfxbook report. If Sam Taylor wanted to really push his sales of Auto FX Payday then anyone in their right mind would know to show legitimate verified results of such an account. Displaying just a screenshot with no link to the verified account is a huge red flag and 99% of the time means fabricated results.
After a quick look over their only trading report displayed it looks as though it runs a 50 pip stoploss and a 10 pip takeprofit with possibly a trailing stop. The backtests appear to be over optimized and curve-fitted to the point where you would never ever replicate those kind of results, not even on a demo account.
Remember, this is just our analysis of Auto FX Payday based on the information we have at hand with their sales page. If you have AutoFXPayday, feel free to leave a comment below discussing your experience.January 23rd, 2012 at 12:17 am -