Wednesday, November 21, 2012

Yen Drive EA - Driving To Profits Or Disaster?

Good day all, wow I really like the website these guys have developed over at drive expert advisers dot com. Unfortunately nice looking websites do not equate to long term profits in the forex market. At time of writing their first forex system the Yen Drive EA was down more than 5000 pips and the drawdown from previous trades averaged to be 72% drawdown on the account. Talk about an ulcer index! you better have a real tough stomach to trade this one. Yen Drive is a basket trading EA similar to Forex Gale and Forex Envy. You can see what I am talking about by clicking here This is a high risk account that has performed well over a period of about a year now.

This system trades all the major Yen crosses by opening a basket of trades in hopes to make a specified small or large profit configured by the end user. Some people really like to trade these systems, but me personally would not be able to sleep with this one unless it was traded with a small amount of capital on low risk. These type of systems are more conducive to blowing. If one was to trade this one, I would withdraw my profits as quickly as I can before they are gone!

There are other Forex systems released by this vendor, but for now I will only discuss this one as it is the first one released. The cost of admission is $199 for 1 live account and 1 demo account. There is a 30 day money back guarantee but I don't know if it is "conditional" or not.

YenDrive EA