MyFxTools.com Review
2.724 •
3 REVIEWS
Out of business
Updated: Apr 13, 2022
•
Website is down. Company seems to be out of business.
Out of business
2.724 •
3 REVIEWS
Recent User Reviews of MyFxTools.com
P
Paul Heap
Singapore,
Aug 25, 2008,
Guest
A quick update...we now have another EA available, 10pipspro, which is an aggressive profit maker. I am also creating a new system, which does not have a name yet, but can deal with both ranging and trending markets.
Just to clarify... the managed account service is independent of the EA's that are traded on the site.
The managed account trader is AVG certified and has consistent results, all of which are available from the site.
Just to clarify... the managed account service is independent of the EA's that are traded on the site.
The managed account trader is AVG certified and has consistent results, all of which are available from the site.
T
Tim
France,
Jun 12, 2008,
Guest
I bought the "CarryGridding" EA.
Before using it, I decided to backtest it on the pairs recommended. It only performs whilst the pair is in a long term rising trend, which is why the 7 year backtest on the website appears to work well. So that's fine until you wonder which pair(s) to set it on. How do you know which pair is going to be in a long term uptrend over the next year or more? I emailed the seller and asked this question, but not surprisingly got no response.
When you test it on any pair that is NOT in an uptrend, then ultimately it fails, since it hangs on to trades until they reach a profit.
So if you know which pairs are certain to move up in the long term, then buy it. But then if you knew that, why do you need an EA anyway?
It's a classic case of curve-fitting to suit history. I'm disappointed.
Before using it, I decided to backtest it on the pairs recommended. It only performs whilst the pair is in a long term rising trend, which is why the 7 year backtest on the website appears to work well. So that's fine until you wonder which pair(s) to set it on. How do you know which pair is going to be in a long term uptrend over the next year or more? I emailed the seller and asked this question, but not surprisingly got no response.
When you test it on any pair that is NOT in an uptrend, then ultimately it fails, since it hangs on to trades until they reach a profit.
So if you know which pairs are certain to move up in the long term, then buy it. But then if you knew that, why do you need an EA anyway?
It's a classic case of curve-fitting to suit history. I'm disappointed.
J
James
Singapore,
Mar 3, 2008,
Guest
PointBreak has done really well recently considering that February had some of the worst EURUSD market conditions for 6 years.
C
CG
California, U.S.,
Jan 21, 2008,
Guest
This was introduced in Dec 2007. It sounds really good and has some good results posted. They offer a crippled trial version which had some initial positive results.
I tried CarryGrid EA. When that didn't work, he offered to exchange with PointBreak instead. I started the demo and ran it for over a month. But during this, he refused to give me the actual working EA. He said I needed to give him a live account first in order to lock the EA to that account. I gave him a demo account. But he refused saying that it has to be a LIVE account.
Who in his right mind would start up an EA without giving it a complete test of all the features first? Since the trial is a crippled version, the only way to fully test is with the actual version on a demo account. But he refused to do this.
As of the end of Jan, the demo account is down more that 60% in drawdown. So the claims on the website are questionable. I will update this review in a week or two again.
I tried CarryGrid EA. When that didn't work, he offered to exchange with PointBreak instead. I started the demo and ran it for over a month. But during this, he refused to give me the actual working EA. He said I needed to give him a live account first in order to lock the EA to that account. I gave him a demo account. But he refused saying that it has to be a LIVE account.
Who in his right mind would start up an EA without giving it a complete test of all the features first? Since the trial is a crippled version, the only way to fully test is with the actual version on a demo account. But he refused to do this.
As of the end of Jan, the demo account is down more that 60% in drawdown. So the claims on the website are questionable. I will update this review in a week or two again.