Q&A: please do any one know about the efficacy of forexautopilot robot for trading foreign exchange online?

Question by Emmanuel: please do any one know about the efficacy of forexautopilot robot for trading foreign exchange online?

Best answer:

Answer by Ted
If you look at the web page http://forexautopilot.com/ near the top, he claims that this is a real account, yet if you scroll to the bottom, he has disclosures including one about hypothetical results.

“Hypothetical” means that he has not traded it on an account with real money. It means that he ran a stream of historical prices through it. He may have tweaked and tuned it so that it produced huge profits with this exact stream of data and will never do it again unless history repeats itself exactly. There is also no guarantee that you could have gotten actual orders in to the dealing desk and filled at the prices in his demonstration. The forex market moves fast.

Note underneath the disclaimer that this software is for “educational purposes” only and not for financial advice. This means that you should not trade on the basis of this system and if you do and you lose money, it’s your fault because they told you not to trade with it.

As far as his “example” account at the top. He says that this is “real”. Maybe true. He can open a bunch of accounts and show you the one that made money and not show you all the times he lost. Anybody can get luck once in a while.

At the bottom he says look what I made in “one week”, yet the date/time stamp in the log clearly says Feb 28 thru Mar 19. How is this “one week”?

Know better? Leave your own answer in the comments!

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