Forex

Hello Everybody. Has anyone tried that ForexAutoPilot EA ?? I have been looking at them for a couple weeks now and I keep showing up at their website for whatever reason. I am just starting in Forex (taking the classes right now) and I think I have a humble goal of 10-15 pips/day or 50-75/week. I honestly don’t care if these are made from Scalping (which my broker allows), or if its 1 good trend a week, just looking for a very low risk system.

I am very interested in these EA's.

If anybody uses, or has any first hand experience forward testing, with ForexAutoPilot, please share if its worth the money to buy the program...other wise any trading plans that fit my goals would be appreciated.

Been using it for about 3 weeks. has done 6 trades 5 170 to 190 profit one 920 while I was sleeping.This was on a demo account. Im taking it live in the next week on a mini account.

Thank you for the reply.

I have done some backtesting, and it shows good results, average of around 200+ Pips / week.

I am going to start live testing w/ demo to see if this trend continues. I must admit that I would like to see it make money in a time when the there a longer downtrend in the market, but we shall see what we see. If i get the same results for 2+ weeks of demo I will also take it live w/ a small account.

Ive tried this robot on an account with 1000 in it to see how it would do. In a demo account with 3000 in it it did wonderful.
but would not work in the 1000 dollar account as I continually got the message that there was not enough money when ever it went to enter the market.
I wrote to the guy that made this robot and asked if I needed to change any setting to run it on a mini account.I got a message back telling me NO.

OK got an answer here is what was said and what I got back.
> Hello
> > I recently asked you via support if the autopilot would work on a mini
> > account with out changing any settings and was told that it would work and
> > no I did not need to change the settings.soooooooooooo I tried it on a
> > 1000.00 mini account and got the message there was not enough money to trade
> > in the terminal.
> > so what do I do to correct this.


The answer I got is as follows.

If you are using small deposit under 2000 usd use 0.1 lot to trade or even less

If you use 5000 usd deposit – set 0.5 lot.

For deposits over 10,000 you can use 1lot and more.

Starting live testing using the following adjusted sets:

Lots: 0.1
T/P : 20
S/L : 0
Trailing Stop : 1

My understanding from the guy that created this little robot is your not suppose to mess with the settings. Except to change the lot size in a mini account. So my fiend let me know what happens with the iner working of this little toy as you mess with it.

The Trailing Stop is 1? as in 1 pip???

Yes, I did the trailing stop as 1 pip...rookie mistake and I see the error in my ways, i have already seen 2 trades that would have went for +20 if I left it alone...so my fault (live and learn).

As of right now...I am having a "test of will". The Trader made a trade for me early monday morning. did a .1 lot of EUR/USD at 1.5383, then the market did a sky dive. I watched all day as my price was all the way down to -50. It has made a good comeback and seems to bounch between -30 and -20. I see 3 options at this point.

1 - (What I should do, considering this is a test) Do nothing and let the Trader figure it out.

2 - (What my impulses tell me). When it hits a -20, take the loss so the system can find me another trade (I have it set to do 1 trade at a time)

3 - (Be a bit Proactive) Make a few of my own trades, try to recover so I stay even, then it would hurt less to take that -20 or -30 loss....

Its a robot if you close the trade it does not think its done its still in the trade. let it run out.. its a demo account right?If its your own money well you decide..but I bet you will close the trade and it will go the way you want after and really piss you off. The robot seem to make a bad trade every once in a while but mostly it wins a lot.If you noticed there is no stop loss on this robot.

I noticed the no stop loss...and I am going to let it run. I have messed with the setting a bit...are you set up with the T/P as 20 and the Trailing Stop as 15 ?