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Tested Result: N/A
Forex Mercenary
 

Updated: January 2010

Profitable: N/A

Easy To Follow: 0/10

Honest Result: 0/10

Support: did not test support

Bonus Value: N/A

Results: N/A

The Good: Nothing good. Total blackbox.

The Bad: Not an automated system, requires manual work. No way to backtest the system in MT4.

 
 

I've got tons of emails to review the Forex Mercenary.

The Forex Mercenary comes in a way of total black box. They have developed a Java Software which promises to use "advanced statistical models that take into account a broad array of information relevant to the particular instrument they are trying to predict". The system claims to use Bollinger Band indicator and some currency correlation methods. That sounds good however we have 2 major problems:

1. The system is not automated. It simply gives you signals but you have to sit whole day and wait for the signal to arrive and place it manually in metatrader.. This is outdated approach and in the era of forex robots nobody will do that I am afraid.

2. There is no way to backtest it properly in Mt4. The "included backtest feature" is like a joke. Take a look:

It has no detailed statistics, no signal details, no pips gains/loss.. only "prediction Down.. Outcome: Win".. that gives me no information on how the system actually performed in the past.

Moreover the developers did not bother to publish any real time trading results on their site so I suppose they don't trade it as well.. Bottom line - total black box. Don't ask me to review it, guys. I have no time to sit whole days and wait for the signal. I dont know if it is good or bad. I trade with robots, I develop robots and I review robots..