EA Shark 6.0?

Hello guys.
Have somebody had any experience with Shark from Forexeasystems?
I see marketing email from them with presentation from the newest build EA Shark. They show with backtesting and forward testing to just amazing results!!
from their e-mail:
“Backtests:
Cumulative Test Results 1999-Today:
Profit in %: 281728.41 % | Max DraDown: 11.94% | Winrate: 97.09% | Profit Factor: 7.83
Discrete Test Results 1999-Today:
Profit in %: +5949.84% | Max DrawDown: 12.83% | Winrate: 97.49% | Profit Factor: 7.12
Forward testing:
Cumulative Forward Trading Results (June 2010 - Today):
Profit in %: +258.17% | Max DrawDown: -5.49% | Winrate: 97.79 % | Profit Factor:7.94
Discrete Forward Trading Results (June 2010 - Today):
Profit in %: +104.75% | Max DrawDown: -4.50% | Winrate: 97.79 % | Profit Factor: 8.01”

Numbers are really impressive!! Anybody have an experience with this build?? I’d like to buy it, but firstly will be happy to hear some reviews about. I am not much “pro” with trading yetJ
Please, write what you think, guys.
Thanks!

...

Just copied part of email I've got . So, anybody knows something about?

Previous versions were no good.Think 6.0 too(

Yes stay well away!

Alex is a very crooked man.

Hello JohnFx, i think there has been so many bad bots released (to call them not scam boots) that you will not get any accurate answer to such questions.

People have been scammed so many times that everything what come out gets the label scam. True or not does not matter.

Background is the fact that mostly trader fail because they start trading with the expectation that they will be rich in no time trading currencies.

Then they fail and looking for somebody who is guilty. The broker, the system, the internet provider and so on.

To the idea that they simple messed up, they don’t come, because it is easier to make somebody else guilty. Human nature

Even i cannot know it exactly, i am 99.99% sure that not one from the who posted in this thread is using the EA Shark 6.0. What would be actually required to say something about what can be counted as useful.

When you want to find out it is a scam or not, contact the developer and ask them to send you actual forward trading statement. Best you request this through chat that there is no time for manipulations.

When they deny...stay away.

If they provide you with the requested info, open the statement and switch to the source code. You can use Firefox for. Compare the code structure with an actual statement from your terminal. When the code structure look the same it is a real (non manipulated) statement.

Metatrader uses own html generator which can be only used from the terminal.

But when the statement is a fake, different generator is used which means the code structure will look different.

That's of course no guarantee that the system will perform, but at least you know they use fake statements or not.

If not, buy it, test it on a real account and write me after you tested it for 2-3 month.

Free advice: When you want to become a successful trader stay away from forums. Forums are mainly meeting point for winy girls and traders who have nothing to do. Successful traders where you can learn from have better things to do then post on forums. That's why i have only nine posts in 4 years.

All the best!
Josef

Profitable automated trading systems take millions to develop, look at the money time and effort the bigger HFT's spend on their modeling and do you really think you can buy one of the web for $199?

If someone develops an EA that works, would he really sell it to a few hundred or even a few thousand people or would he quietly run it and make millions?

If you had an EA that works perfectly and you know its r/r ratio through and through just Martingale the living daylights out of it and walk away with 100 mill.

There is one guarantee in Forex, if it sounds too good to be true, it is.

Forward or back tests don't do anything for you. A few years ago I bought one of these EAs, not the Shark, based on forward testing. After a somewhat impressive winning streak, it started to fall apart. I don't believe the EA developer was a scammer; his live account showed exactly what my forward test did, which wasn't good.

If the OPs intent is avoid having to learn how to trade, and let the EA do it for you, this is very dangerous and guaranteed to fail. Without knowing how to discern valid trade methods, you're at the mercy of someone who's only source of (trading) income is probably coming from sales of their EA.

@ slack

Good point. Learn to trade and use your brain is the best way. But it requires hard and a lot of work.

Mostly start trading because they mean it is fast and easy money and don't like hard work so much.

I used and still tinker with Shark EA version 5. It is not quite as flashy as version 6. Its win rate is only about 85%.

I have had Version 5 for over a year now and still have not applied it to a live account since I can't get it to make consistent profit like what was described in the forward tests and I don't think I will be buying the new version anytime soon for that reason.

I really hate to say anything bad about the EA because there are too many factors that I may not have taken into account such as broker, spread, etc...

I also use the Manual system from the the ProFX V2 it does not provide the results stated but it makes for pretty charts . I have worked with Alex quite a bit on the ProFX V2 indis but still have not been able to match their results.

I would avoid this company or use a credit card to make the purchase. They say they have a 14day refund policy if you are not satisfied and if you have trouble with getting the refund call your credit card company and issue a charge back.

As everything posted in this thread (positive and negative) is based on hot air here some links to stats pages from traders who use the EA.

Found @ donnaforex +28% within 2.5 weeks

http://stevecot.mtrocket.com/widget_line.php?uid=179

mmm....there was another one but i lost the link.

Here is the other one:

EA Shark MT4i stats (Unknown User)

@ Josef

Thank you very much. Looks much better then expected.

John

I guess if you think you can buy success than it looks good. Anyone have stats for more than 2 weeks or was this period specifically picked for a reason... hmm

I'm thinking it was for a reason.....

Anyone have new News about the EA?

Hello,

hmm EA looks interesting. Neural networks inside... The equity chart also looks quite reasonable - there were some major DD and it looks like the wildrun protection worked...

I wonder if anyone here, and I mean experienced traders not total green newbies, tested this EA?

Shark is doing pretty well. Actual figures from forward trading:

Running: 110 days
PF: 2.82
Average monthly return: +14.82%
Total return: +68.63%

Everthing else you can check on my stats page:
http://www.mt4i.com/users/morrison/stats#chart

Hi Guys, unfortunately input on this forum was not very helpful but i decided to buy the boot anyway. I started with Fxpro but it turned out that they are not that really honest. (they blocked EA usage on my account)

Here the old stats: (now closed)
http://www.mt4i.com/banner.aspx?id=eashark6_jmc&t=300

Now i am trading with Alpari Uk (Pro Account) and so far everything looks good. Here the actual stats:
http://www.mt4i.com/banner.aspx?id=shark_6_jmc&t=300

Well, i trade with a dealing desk broker and have nothing to complain. I think it is not correct to call all dd bad. But to trade with STP or ECN brokers is for sure better.

How much is the min deposit on Alpari Pro accounts. Still 20K?