For today’s review I’m looking at a new “premium trend management software,” Trend Profiteer. This Forex EA comes with a comprehensive manual, video training modules, webinars, a chat room and a forum. The package looks like it’s a combination of education and a semi-automatic Forex robot that does require you to confirm or deny potential trades.
The creator of the EA is Michael Nurok, who’s been behind the launch of multiple Forex trading systems in the past. The company headquarters are located, in the heart of Sydney’s financial distrcit, on the 27th floor of Macquarie Tower. There is no specific address provided. If you require support, or just want to ask some questions about this service you can email email@example.com.
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Trend Profiteer Review
There’s really quite a lot of information to go through here, the Trend Profiteer sales page is over 20,000 words. Most of the documentation is sales pitch jargon, but there’s also quite a few interesting tid bits, and sample trade videos as well. In fact, Michael provides us with 33 separate examples where his trading system worked properly to gain anywhere between $600 and $5700 in profits.
The EA is built to “catch all trends and swings with ease.” In doing so, the developers hope to win trades in the 60 to 130 PIP range. Additionally, the goal of this trading strategy is to provide a risk to reward ratio of 20:1, which is an incredibly lofty goal. They hope that in providing a ratio of this manner, the traders can lose over 50% of their trades and still make a generous profit on a weekly basis.
- Type: Semi-Automatic Forex Robot
- Price: $697
- Strategy: Trend Based
- Timeframe: 4H, Daily, Weekly
- Pairs: All Pairs
This strategy is quite different from the normal expert advisor that we come across because of its semiautomatic nature and longer time frames. It’s also not very common to come across a robot the trades on all pairs. Years ago you saw this frequently, but those systems always fail because their strategies work specific enough to game the markets.
I could continue on with reading over the sales page, but I’d rather take a look at the developer of the software and what type of reputation they have online.
Michael is well known for two trading systems, Traders Elite and Forex Precog. The traders elite software seems to be the most discussed online out of the two. The Forex Peace Army rating is currently 1.952 over 9 reviews, so pretty much every single review is negative. This doesn’t mean that it’s a bad software, but it’s not a positive sign.
The majority of the complaints are from traders that claim the service promises thousands of pips in profit, but actually deliver nothing but losses. The vendor does respond to all of these comments, but it is a little disheartening that there are so many comments saying the exact same thing.
I don’t want to use these comments to judge Michael Nurok, and his new Trend Profiteer robot, but it’s going to add to my skepticism and probably stop me from spending the $697 until I see positive community feedback.
Michael provides us with over 30 videos and a handful of screenshots that show how the semiautomatic trading robot is built to work, and a screenshot from of a backtest equity curve.
What I don’t understand, is why we have no access to see the Forex Profiteer on a statement sharing service. Obviously, the price point is higher for the system than others because the developers provide other services outside of the robot, but they are missing a very important element here.
Without verified trading results, I don’t see how I can give this a chance, especially when the price tag is over $600.
My made advice for Michael and anyone in the Forex market looking to release an expert advisor, is to have a few months of trading results backing you. In doing some research and trying to find some results, I came across a Trader’s Elite myfxbook account owned by Michael, but there were no active systems. Hopefully he decides to change this in the near future.
There are certainly many interesting aspects to the Forex Profiteer software. It’s very different than most of the trading systems I review on a regular basis and Michael comes across like a very intelligent man. Yet, the feedback for his last product makes me skeptical of his talents and I’m going to need to see a my FX book account to change my mind.
Thanks for stopping by, and please let me know what you think about this new trend based auto trader.
Trend Profiteer $697
Trend Profiteer is a semiautomatic expert advisor / indicator that utilizes a trend based trading approach.
Trend based strategy
No verified results
Poor client feedback