I've been playing around with the Forex Autopilot System (FAPS) for a few days now and have learnt a few interesting things about it. This Metatrader Expert Advisor robot or EA is designed specially for the EUR/USD 1M currency pair.
There are about 13 individual settings for the EA including take profit, stop loss, Lot size and so on but very little information in the documentation on configuring the rest of the indicators. The default setting uses a take profit of 20 pips, trailing stop of 50 pips and no fixed stop loss.
According to Marcus, the FAPS creator, the EA is designed to for 100% win rate and uses internal indicators to close losing trades rather than having a fixed stop loss. During backtesting, I noted that drawdown can be close to 30%. I suppose that's why the recommended trading lot sizes are as follows:
0.1 lot for US$1,000-2,000
0.5 lot for US$5,000
1 lot for US$10,000
Wednesday, March 12, 2008
Forex Autopilot System - Expert Advisor Settings
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9 comments:
thanks for your explanations on FAPS so far. please i would asked for more detailed explaination on step by step how to set up all the packages: FAPS ex4 file, eurusd_m1.set file, forexte.set set file, NFP_Pilot ex4 file, Utra_trend ex4 file. my email is ehisimafidon@gmail.com.
lastly, when i activated my FAPS 'ForexAutopilot 24KB' from the member area,and loaded the key, it started trading, but it kept prompting me to activate. when i complained, the FAPS-support team sent me another FAPS labeled 'ForexAutoPilot_Universal 20KB',please what is the difference and by my obervasion(1 day only) FAPS_Universal did not trade on friday 4/4/08.
thanks, witing for your mail/reply.
do you also blog for FXPROMAKER EA
Iam attempting to activate F.A.P.S
and also load the recommended settings in the''input'' however they always to back to the default setting. The question is what is the correct way to load the ''input''?
FAP doesn't need to be fully activated to be able to set and save your preferred parameters. Open the setting up on the EA, set the setting to your preferred settings, and save it by giving it a name, then save. Then try the load and load your just saved setting, then OK it. From this point on, your preferred setting will come on even after you restart your MT4. Please, be familiar with basic FX knowledge as well as knowing basic MT4 platform operation before you go live trading. Please! It's for your own good.
hmmm... are people even bothering to read the pdf files or getting familiar with metatrader operation? it doesn't seem like it. read people!
I've been having some trouble with forex autopilot lately, I've lost almost half of my deposit already.
Here are my settings
Long & Short
No Alerts
Don't Disable Alerts Once They Come Up
Allow Live Trading
No Manual Confirmation
Allow the imports but don't manually confirm any of them
here are the number inputs
lots= 0
lotriskreductor= 1.0
maxorders= 1
maxlots= 100
aaa= 13
bbb= 14
takeprofit= 20
stoploss= 0
trailingstop= 50
The other ones I dont know their names but they go
.5
3
.2
0
Product Key
Can anybody help me with this? I am really upset but I know its bad to manually close trades
Over the last 6 months I have used numerous EA's and Installed the same. I have one question.
The EUR/USD1mexc file, does that get installed into the Template folder or the Expert folder?
I am about to purchase the system and happen to notice your post about not much infor is given on this subject.
Thanks
Can you tell me if the EUR/USD 1m exc file gets put into the Tempalete folder or the Expert folder. I didn't see anything mentioned about that.
Thanks
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