Is Forex Magic Machine a Rip-off?
Forex Magic Machine was launched on 5 Might 2009. As anticipated, the Forex Magic Machine Homepage options screenshots of Forex accounts making 1000’s of dollars monthly, along with raving testimonials of many completely satisfied prospects. Everyone knows that a lot of the evaluations online can’t be trusted, so the query is – is that this robot price buying or not?
I’ve not had an opportunity to check Forex Magic Machine but so I cannot try to jot down a full assessment, however, what I may give you is a few observations that will help you along with your resolution. The very first thing I all the time take a look at when evaluating a Forex robot is the backtesting report as a result of this provides me some concept of how the system carried out prior to now. Within the case of Forex Magic Machine, the backtesting report reveals an excessive share of profitable trades (97.41%), with a maximal drawdown of about 25.73%, over the previous 2 years, which isn’t too dangerous. One other necessary factor to have a look at is the “Largest Loss Trade” and “Average Loss Trade”, which provides you a sign of how dangerous the trading technique is and what sort of drawdowns to count on. In this case, these numbers are very low, so it seems as if the trading technique is kind of secure.
The second factor I search for when evaluating a Forex robot is real-time proof of day-to-day earnings in a REAL MONEY FX account (versus a backtesting report or demo account assertion). Whereas some examples of actual account statements are proven on the Forex Magic Machine Homepage, the statements usually are not up to date in real-time utilizing the built-in options of the Metatrader platform, so it’s exhausting to say with certainty how genuine these statements are.