Forex Automoney,or better, Where'smymoney

With this we continue our review of trading systems. The one that comes to our attention is the Forex Automoney which is actually inot, as many may tend to believe, a forex robot, but rather it consists of systems signals that clients get access to after paying monthly $99.9 fee.

That’s right! You have to pay $100 every month in order to use this service - and if you start trading with “only $1” as the company’s web site advertises you can, then you will never be able to even brake even on trading. With that kind of a fee, you should not even consider trading unless you have $15,000-$20,000 even if the signals provide a valuable trading opportunity.
So let’s see how good the system is. Actually, there are three of them, difference being the timeframe parameter. Intraday system trades on average 6 times a day, while daily and weekly systems trade once per day and week. If you want to follow intraday signals, you can pretty much forget about holding a steady job as message to trade has to be executed rather swiftly, so many may consider daily and weekly.

Unfortunately, the company does not provide robust back testing results – the astonishing results provided as an advertisement on company’s site can not be re-verified by running them on a separate and personal platform such as MetaTrader. That can mean that they are, in the best case scenario, derived from over optimization, and at the worst case scenario, are purely fraudulent. So the only thing left is to test the signals in real time!

But there we get discouraging results with number and severity of losing trades significantly outperforming winners. Maybe in the long run, the system could hit few big winners that would make more reliable, but most people do not have that kind of patience and usually require their money back. This is where they usually run into their biggest problem as company is plagued with complains about not returning money on time and charging clients extra month of service before canceling their fees. We plan not to give this service any more thoughts.