Comments on: Scam, Sham and All that is Bullshit!

By: onur

onur — Mon, 08 Jun 2009 10:36:12 +0000

Hmmm… f… u ! …hehe

By: Casey

Casey — Mon, 08 Jun 2009 10:05:52 +0000

Well… I have no qualms about Forex Derivative… if it works for you so be it… So we shall see how it performs…

As for 4xproject… it’s funny… If they are making money from forex… they should allow this review for free and all the other added bonus…

When you start charging people… some objectives can become obscure… don’t you think?

Hmmm…. maybe I should think about this sort of revenue model… hehe

By: Mike Buongiorno

Mike Buongiorno — Mon, 08 Jun 2009 09:12:32 +0000

This was 4xProject wrote in his latest newsletter about Forex Derivative:

Forex Derivative
After the release of derivative there has been a lot of action around it. We added it to the forward test. It had a good start and then did loose trade over trade. A lot of you email us and asked why we have much more trades than on the official statement. Zacks team worked like hell and found some problems caused by broker feeds. End of the week we finally got an updated version of Derivative which is available for download for all customers in the meantime. This release corrects all known issues with brokers and is ECN compatible as well.
Another point we like to mention is the discussion about some parts of the derivative code. There are people out there which claims that it has functions built in do optimize backtest results. We discussed that with the vendor. We have been told that, one part of the datespecific code has been built in to fit the nonhedge rule and the other part was made to protect the code from easy reverse e ngineering. In that context i ask you only one question you should consider about yourself: If somebody wrotes more than 5500 lines of code to create an expert advisor – do you believe that he needs to fake the backtest results with a couple of lines of code ? A usual robot on the market has some hundred lines of code at all.
Anyway for us this product is till highly interesting. They did a hughe bunch of work to fix all upcoming problems an effort which is not standard at other vendors at all.
We restarted the forward test with the new version and it achieved to be in the top 3 profit ranking again in less than 2 days so let’s see what the forward test may show us….

http://www.4xproject.com/statements/derivative/statement.htm

Cheers,

Mike

By: onur

onur — Sun, 07 Jun 2009 00:54:11 +0000

since 4xProject turns now to a paid membership service i m not longer sure how far goes their commercial interest regards the misty Forex Derivative…..

some doubts are rising about their review approach in this case….

By: Steve

Steve — Sat, 06 Jun 2009 21:02:46 +0000

4xProject wrote an explanation about this – they contacted the author of the ea and it seemed to add up. This one still goes into my ‘consideration’ box, though. Even the code to optimize the backtests doesn’t seem to really change all that much….give his blog a look….something to do with hedging but still with all the other crap out there this one doesnt seem to be all that bad.

By: ck

ck — Fri, 05 Jun 2009 15:10:21 +0000

thanks for the link to my blog :O)

you are doing the EA community a great service :O)

By: kit

kit — Thu, 04 Jun 2009 06:04:21 +0000

Thx for the warning but it’s too late for me. After backtesting it, I was so impressed with the results. I saw the forward test on the first day at 4xproject. I was impressed and excited then. That’s when I put it on my live account on 4 pairs. Really sad. After that the EA got really stupid. It didn’t close the winning trade and turned them to a losing one. After hearing complain on one forum about the EA picking trades differently from one account to another. I got really suspicious and removed it from my live account. Luckily the damage was controlled early. I am getting refund for this EA.