I totally agree with you Jonny – very very few products that actually work. Just looking at the results on this web page tells you what. But your point “Everything should be automated if an algorithm exists for trading” is not necessarily true. An algorithm may exist for trading that requires you to be actively responding to market direction – i.e. human interaction. That algorithm may be next to impossible to automate, but can still be successful.

Indicators marketed is a problem. If the indicator is so great, you can again, automate it into an EA. Why market the indicator? If the indicator is so excellent, it must be made into an EA. Just trying to sucker newbies and confuse them who are told over and over in forums that EAs suck and are told to learn to trade from a system and indicators. And most importantly, it must show some results. Preferably on MT4i or Myfxbook.

Be honest. There are very very very very very very very FEW decent products being peddled. And in this day and age, the point is, if you can put a “system” together and peddle it, you should be able to automate it. Everything should be automated if an algorithm exists for trading. If the peddler refuses to automate it, it is automatically suspect and junk in my mind.

Why don’t you buy it and try it then? I already know it is pure junk just by looking at the spiel on the website.

Good point Joe. We all have to remember “if you are selling, you are not trading”. That doesnt mean that every trading system sold doesnt work, but it does mean you should always ask yourself “why they are selling it?” because if its as good as they claim it to be, they wouldnt need to sell it. If you do the maths and, say, started with an account of $1000 with 1:500 leverage and risking 5% of the account on every trade and you were consitently making say 50 pips every week, that account would be a $1 million in just over a year. Whats the key word in the last sentence? The scammers selling the method want you to believe its “million”; but that is not the key word – its CONSISTENTLY.
Anyone with a consistent method would not need to sell the method on to anyone for peanuts (the usual $47 or $97 for the robots that promise so much but deliver so little).

Do you have any idea how many new systems, robots and indicators come out each month? To go through each one individually and test it is an extremely cumbersome task that I once did, but now have added filters. One obvious filter is if the vendor themselves can’t even show some sort of legitimate results for their system, then why would I show any interest in it myself? I good percentage of these products are released by marketers, not traders. An even higher percentage of those products have no results and are just a copy of some publically available free system.

Now obviously the odd good product may slip through the crack of my reviews, but thats where user commenting usually straightens things out.