Forex Scam EA

[LongVision]

I want to post backtest result of current top-selling EA at MQL5 market Reindeer Scalper Pro.

This EA just hardcoded and Enter at perfect time/price for backtesting purpose.
So What I have done I tested EURUSD pair with tick data suite but with pseudo name GBPUSD.

Result-1 with EURUSD

Result-2 EURUSD (with just different name GBPUSD but same EURUSD data & period)

Similar tactics used by many EA seller with incredible backtest. So just stay away from these EA.

 

[LongVision]

This Seller most likely earned more than 250k by selling his scam EA. I also inform mql about this.Let's wait if they take any action on this scam seller.

 

[Trader333]

For any automated system to work it has to show success without any optimisation at all. The problem with any EA is that it can be made to look profitable by using optimisation. However, the idea that any action will be taken against the authors of the above mentioned EA is amost zero. That is because all they need to have done is to add a disclaimer that

Past performance is no guarantee of future trading success and that trading is high risk and you can lose more money than you have deposited to trade".

If they have done this there is no basis upon which action can be taken. It is the same for countless other trading systems and even well known companies who often end up losing much of their clients money.

 

[CavaliereVerde]

For any automated system to work it has to show success without any optimisation at all.

Partially agree. 🙂
From my experience some mild optimization can be required.

At the oment my guidelines as algo developer are:

• few parameters
• mild or no optimization
• crossvalidation (different TFs and assets)
• at least 4 years
• at least 300 trades