Unbiased Review of Forex Avanger

Forex Avenger is an EA, so called forex trading robot that is basically a software programmed to trade currencies automatically on MetaTrader 4 platform. But is this program worth the risk of purchasing it and the hassle of learning how to operate it?

By visiting the company’s site, we can right away notice absence of misguiding advertisings stating abnormal profits without showing associated risk – type of advertisement that are so present on many other sites. We also notice some concrete statistic that we can retest and reconfirm. It’s the percentage of winning trades, stated to be 82.69%.

Such results are usually obtained by taking small profits while opening space for large losses. This system is somewhat, but not completely different. Its profit targets which are set to 30 pips seem low, but stop losses are set lower than 50 pips. Good trading systems should have 2:1 reward ration, meaning if you risk 50 pips, you should be able to make 100 pips at least, so this system is lacking in this department.  

Furthermore, we could not confirm percentage of the winners in the back testing, getting it only to high 60ies, depending on the data sample. And this was certainly the case in trading the demo account. We noticed that many people are confusing this product with the one called AutoCashRobot. However, it is completely different system made by different traders, with different exit points and entrance rules, so we have no clue as to why someone would make that connection. What we did notice is that at some point the system is capable in generating very large number of consecutive winners. So actually, it may offer some hope for further testing to anyone who trades with EAs.

What we do not like about this system and about this company is the heavy advertisement and statements to the effect that you do not need prior experience to trade forex with the use of this program. We believe that is not true and anyone who has any success in trading will tell you that you can not expect to even implement other person’s system unless you know how to manage risk, emotions and pressure, among other things. For anyone interested in trading on autopilot, they first have to go through basic training that will show them what they need to master to be able to trade on autopilot, and stay trading on autopilot when the system starts generating bad trades.

We are aware that low price of $97 and money back guarantee backed by very ClickBank seems enticing enough reasons to try and see if it is worth adding it to your portfolio. We did not.