Faking MT4 trades and live stats...
I have found something that really looks like it works, and would like to buy it from the author.
Is there any way to fake forward trades?
It depends on the form in which you're being shown the "forward trades". For example, I work for www.mtintelligence.com and I can assure you that the stats on that (or on mt4stats.com, or mt4live.com etc) could be faked by someone with enough incentive to do so. I've mentioned this before in page 2 of 'Make profit 250% a weeks'. I'm not saying it's easy to fake this kind of thing, but it's perfectly possible if the financial incentives are there.
OK. The spreads on the website look good and I understand how one could switch the feed. I am also looking at trades logged into a demo account provided by the seller...
If you have access to the second-by-second activity of the trading system then it does obviously narrow down the range of possible frauds. Personally I'd still be watching out for the following, in no particular order:
- Very broadly: systems which are effectively random (or have the potential for occasional significant loss), and which happen to have done well over a recent time period. It's very easy - whether unwittingly or cynically - to construct a system which makes money consistently... apart from occasional losses which wipe out all your profits.
- Deliberate scams based on the above. For example, automated forex variants of the age-old scam where you successfully predict the results of future horse races.
- Systems which depend on the material difference between demo and live accounts. I know a reasonable sample of people who've tested all the major commercial scalpers on live accounts versus demo accounts, and I don't know anyone who's seen similar results on demo vs live. Many of these scalpers are exploiting things which are purely an artifact of demo feeds and demo prices.
It depends on the form in which you're being shown the "forward trades". For example, I work for www.mtintelligence.com and I can assure you that the stats on that (or on mt4stats.com, or mt4live.com etc) could be faked by someone with enough incentive to do so. I've mentioned this before in page 2 of 'Make profit 250% a weeks'. I'm not saying it's easy to fake this kind of thing, but it's perfectly possible if the financial incentives are there.
I agree with you jjc.. it's POSSIBLE the fake things like mt4live.com, mt4stats.com, but, it's "IMPOSSIBLE" to fake datas (trades) on the MT database. The only (EASY)way to fake those datas from MetaTrader is opening a server for you. I never heard something that got hack some broker.
[...] but, it's "IMPOSSIBLE" to fake datas (trades) on the MT database.
It's not easy, but it's not impossible either. If you know the data format used between MT4 and the broker, and you have control over the computer on which MT4 is running, then you can set up something which returns a fictitious trade list, balance, equity etc to MT4. "Control" can take a number of forms, including giving someone the URL to download a copy of MetaTrader. I'm yet to meet a professional investor who doesn't verify historic trade lists independently with the broker, rather than relying on the output of a client-end computer system.
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I have found something that really looks like it works, and would like to buy it from the author.
Is there any way to fake forward trades?
Thanks!