Forex Affiliate Links Forex Espionage

[forexsuccess.co.uk]

The sales pitch compares this EA to

a very popular expert advisor out there that was released relatively recently. It’s probably the top one on the market right now that comes closest to Forex Expionage results.

and says

Just using the default Espionage trading settings and conservative money management settings, you’ll get FAR better results. Even better, Forex Espionage runs all the time and trades daily. You won’t get just a few risky trades per week…you’ll get rock solid confident trades nearly every day!

and further

Forex Espionage doesn’t have any secret settings. The default settings are just fine, thank you very much. They produce outstanding results. You can tweak them if you want, such as increasing the lot size of your trades, but with the money management settings in place, your account can still be safe.

The manual says that

The Espionage was designed and tested to work on EUR/USD – 4H chart.

Backtesting on this using the default settings produces a grand profit of $89.97 ($297.59 backtesting with another broker) over the last 18 months. Going back over 3 years produces only $99.37 (or $414.40). This is only using a lot size of 0.1, so there is scope to increase the profits, but it did claim that the "default settings are just fine". However, there were only 31 trades over the 18 months - not what I would call "nearly every day".

Is it fair to judge this EA on backtests? Well, the sales pitch quotes a backtest which

took a single account with an initial balance of $10,000 to over $350,000 in three months

I'd love to how they managed that - the screenshot is grainy and does not show enough information for me to reproduce this, though from the number of bars, I'm guessing that they were using an 30 minute chart over a period of about 10 weeks (2364 bars). Amazingly, they managed to get 290 trades over this period! I only managed to get 338 trades over a 3 year backtest using the 30 minute charts.

This might actually be a good robot, but the claims aren't holding up too well so far.

If you commit your $97, you are then offered the Forex Espionage Advanced System for a further $77. The sales page tells you very little about this, but the affiliates page says it is an advanced 2009 forex trading workbook, including highly detailed examples and presented in a fantastic format. I didn't go for this and I really don't like this sales technique, but I do wonder if it provides some guidance on better settings to use. The manual included with the basic product doesn't provide any guidance, but they do say The default settings are just fine.

Has anyone else tried this robot yet?

Did anyone buy the Forex Espionage Advanced System? Was it worth it?

You can follow my latest thoughts on this EA at ForexSuccess.co.uk

 

[forexsuccess.co.uk]

Yesterday I received a free bonus - Forex Espionage TURBO - designed to work on the 30 minute timeframe. It's not clear if all purchasers will get this or only those who have already purchased.

However, when I try to backtest, it just seems to lose money. The original Forex Espionage actually does better on 30 minutes!

 

[jonb]

espionageAdvanced

I bought this manual, but it does not look as valuable to use, I am planning to get a refund.
And the free espionageturbo is very similar to Forex Autopilot. Makes you small profits and then a big loss wipe you out.