Forex Autopilot (FAPS) saved my live trading account!
I been busy running other automatic forex trading software on my live trading account that sometimes I forget why Forex Autopilot is so good. Take a look at one of my current live trading account's history. 
This one is hot off the press. I had an initial deposit of $500 on this Interbank FX Metatrader account. As you can see, I had a losing trade at the beginning that finally hit the stop loss and lost me 30% of my deposit! Ok, ok... I know it's poor money management so don't try this at home.
But the good news is that I decided to switch back to the Forex Autopilot EA and look what happened! I had 15 consecutive winning trades in less than 2 days. In fact, I've almost made back what I lost in the beginning. How it this possible? Well, Forex Autopilot was designed especially for the EUR/ESD 1 minute timeframe. That's a very fast timeframe to trade in and most forex scalpers trade this timeframe manually by hand. A lot of forex robots are not able to successfully trade this timeframe because the lagging indicators that they use can cause them to enter or exit trades too late.
The default EA setting for Forex Autopilot will give you profitable trades but these settings can be tweaked to give you even better results. I may share with you some of my profitable EA settings is future blog posts but you can also try joining the FAP-Winner forum. This is a forum for Forex Autopilot users where you can get not only the most profitable settings for FAPS but also a personalised trading plan, coaching and trading advice to get the most out of FAPS.
In the meantime, if you haven't already downloaded Forex Autopilot, you can get it here => Download Forex Autopilot System
Thursday, August 28, 2008
Forex Autopilot Review - 15 Winning Trades In 2 Days
Sunday, August 24, 2008
Forex Tracer Review - Better Than FAPS?
Forex Tracer is the latest Forex trading system online and it's selling like hotcakes. Much like the other automated trading systems such as Forex Autopilot System (FAPS), it requires no previous experience and has been designed to run on autopilot and make you money. All that is required is a reliable Internet connection and the ability to leave your computer on 24/7.
Believe it or not, Forex Tracer produced over 94.90% profitable trades from July 2006 to May 2008... well, in backtesting anyway. Still the modelling quality was 90% while means it's pretty accurate. Forex Tracer has been tested in all kinds of market conditions and for extended periods and works with the 30min, 1 hr, 4hr and daily timeframes.
This system has been getting good reviews on the Forex forums but traders should be aware that Forex Tracer uses a fixed stop loss of 250 pips unlike FAPS. The downside to this is that while you may have many winning trades initially, one major market movement against you can wipe out all your gains. So, the advice above still applies. Turn off Forex Tracer before major news announcements. Read the Top 3 Automatic Forex Trading Software here.
Friday, August 22, 2008
Top 3 Forex Autopilot Trading Software
Here's a review on the latest automated forex trading software system. The review covers Forex Autopilot System as well as the newcomers, Forex Tracer and Sillicon Forex.
Click here to read the review => Top 3 Forex Automatic Trading Software.
Monday, July 7, 2008
Forex Autopilot - dll calls not allowed message
I recently upgraded to the new, improved version of Forex Autopilot. The updates include:
- Magic Number Feature - now it can work with other EAs and your manual trades without any problems.
- MaxOrders Feature - now you can set the EA to trade with more open orders, not just 1 at the same time.
- Several small issues fixed
- New reworked FAP instructions manual added
When I tried to backtest the new version of Fore Autopilot, there was no results initially and I found the error "dll call not allowed" under the Journal tab.
With this new version, you need to enable the Allow DLL imports checkbox in order for it to work. To do this, goto Tools > Options, Expert Advisors and check the appropriate box.
Click OK, and now everything works.
Wednesday, June 4, 2008
Forex Autopilot System Review - Special USD100 Bonus!
Just a quick update regarding Forex Autopilot System (FAPS).
For a limited time only, every Forex Autopilot user gets a 100 USD Bonus when he opens a trading brokerage account with Forex Meta Brokerage. This means that if you order TODAY via the limited coupon code... all in all the software is virtually FREE to you!
More details here => http://pinurl.com/9f6
For existing users, don't fret. Log in to your member's area to claim the USD 100 bonus.
To your success!
TJ
Friday, March 28, 2008
Forex Autopilot System (FAPS) Updated - 26 Mar 2008
The latest version of Forex Autopilot System is now available in the member's area. Appears to be a minor update to the FAPS EA which now requires your copy of the EA to be activated. Also, manuals have been updated to inform users how to handle forex brokers with 5 digit price quotes as well as slighly more info on the EA settings itself.
Saturday, March 22, 2008
Q & A - How Forex Autopilot System (FAPS) Handles Losing Trades
The FAPS EA has no fixed stop loss as a default (you can actually set a fixed stop loss if you want) but rather relies on internal indicators to decide when to close trades. The EA will continue to carry a loss until it eventually hits the Take Profit target or finds a signal to close a losing trade. I've yet to see the EA close a losing trade but that's another matter.
More importantly, the FAPS EA will automatically close all open trades at the beginning of a new month. You can already see this in backtesting. If you test from Feb 08 to Mar 08, you will see the EA closing the open trade on 1 Mar 2008.
Also, you need to have sufficient funds to cover the EA drawdown while running. The recommended trading lot size are shown below:
- 0.1 lot for US$1,000-2,000
- 0.5 lot for US$5,000
- 1 lot for US$10,000
Happy trading!
