Automated Forex Trading Agents - anyone have any experience?

DixieLandBlues

Hi,

I'd just like to ask if anyone here as any experience with automated trading/forex programs, like Forex Fury? I stay well away from most make money without doing a thing programs (beyond laughing at dodgy American actors going on about how their team of experts will make YOU rich if you only act NOW. At no risk to them), but:

-there seem to actually be legitimate communities built up around this product, I won't link since I'm not sure if that counts as a referral

-what I can find of the underlying tech hangs together, the product just acts as your automated agent with a low-spread Forex trading site that you sign up to, making trades based on publicly listed online Forex data

- the projected profits are a LOT more modest (£20-30 a go, instead of £k's).

Having said that, still seems to have some too good to be true about it. Has anyone here actually had any experience with Forex Fury, or anything similar?

(Re-posted from Boost your Income, as this forum seems a better fit.)

Malthusian

There are massive communities built around horse racing, doesn't mean it will make you money in the long run.

As for "modest projected profits", there is a box saying "15 Year Back Testing" which seems to claim a gain of 466725.08%! I work that out as a 239% gain per annum. My other favourite bits from the website: the inevitable claim that there is "limited quantity" (why? the cost of reproducing software is trivial, once they have decided to sell this amazing program to the public rather than keep it to themselves, they should want to sell as many as possible), and the bit that says "Our Talents: Support 80, Coding 95, Strategy 95, Updates 90".

If these things actually work, why would they sell them on the open market? They'd make far more money keeping it to themselves and using it to invest their own cash.

colsten

How do you think the owners of the software are making their money? From trading, or from selling their software to people who have no knowledge of forex trading? Which currency trading firms use this software? Hint: none that they can mention.

There's your answers then.

DixieLandBlues

Heh - thanks for your advice. There go my dreams of funding a private island fortress for world domination

EdGasket

Quote from Forex Fury site: "After setting it up, the software runs 100% on it’s own placing trades throughout the day and night." :eek:

So I come down in the morning and find I've no shirt left. Ring up Forex Fury "Oh yes sir you need to download the latest patch of our software; we fixed that bug last month"

This product would worry the hell out of me!

gushoho

what is profitable forex ea ? I want it.

Malthusian

Non-existent.

Pincher

We have certified losers with terrible bad luck buying lottery tickets, so we know those numbers will not hit. This vastly increases the odds of the other numbers coming up.

Subscribers will be sent by e-mail a monthly update of the list of the numbers we have bought, for each lottery draw.

Any takers?