Hi all, I just purchased the forex autopilot for $89 and set my demo @ $2000 on 4/14/2008 and it made 5 trades! +$200 , +$200, +$190, +$200, +200 , and a lingering trade now that never seems to end.
I am loving this magic ride! I kept right clicking the smiley face to check it’s trade parameters and it is in constant state of change! Hence no need for stop loss because it keeps readjusting the stop loss according to it’s internal parameters which involve lots of internal indicators which is probably why it is so crazy profitable! :rolleyes:
I am with FXCM now and they don’t work with meta4 (YET). So I just wait for my demo to put out a signal and jump manually in at a better price and it actually turned a profit! I am ready to go with a meta4 broker at this point and quit my job!!! The recommended broker of the system’s owner is Forexte but I don’t know about them, anybody have luck there?:eek:
Yeeaaaa Haawwwww! I from Texas too. Huntsville. First day of demo with an ea and going to quit the job. Famous last words of every Texan “Hey watch this!”
Welcome to the forum. Now go to Babypips school before you tell your boss man off in the morning.
Hi everyone! I went live with forexte.com as recommended by the seller of forex autopilot expert advisor. So far the broker has been top notch on all my fills even when I do daytrading. The auto pilot account I started with $1000 and am trading .2 lots or $20,000 lots (2 minis) per trade. Here are my results on the 1 minute eur/usd pair…apr 23/ 237AM sell @ 1.5972…close for profit @1.5952 @ 707AM $40 … apr 23/ 741 am BUY@ 1.5967 …close for profit @1.5987 @ 805am… $40 … 817am buy@ 1.5989 pending close @ 1.609 and holding … so far max pip drawdown per mini was 436 pips:eek:
It says in the system to trade 1 standard lot w/$10,000 so with my $1000 I should have only traded 1 mini per trade:o
At least I’m getting a tidy little swap rate ( ;
Anyways, I think this is one RISKY system!!! I could do better trading on free hand drawn trend line breaks combined with parabolic sar:cool:
Oh well, anyone got a better ea to recommend? I plan on trying some others soon. Happy Trading!!!
I think you may want to ditch the system… somehow wins of 20 pips and losses of 436 pips don’t exactly merit a good risk:reward outcome in the long term if you ask me.
Hi everyone, well here are my stats thus far and some answers I received from the EA owner and the recommended broker on the system…1st off the max DD since the last trade was opened on 4/23 is enter buy @1.5989 lowest point 1.5539 making it -450 pips :eek: :eek:
I am getting a little concerned so I emailed Marcus Leary…
“Hi Marcus, What is the max drawdown? I experienced just recently about 400 pips drawdown. Do you know which adjustment I should make? What is the MAX limit in default mode? Thx ~Bruce” … a day later no answer so I emailed again…
“I am going to report results of my live trading on “Forex AutoPilot” on several forex boards where I post. So far it is down over 400 pips drawdown and my account almost blown out!!! WHY SUCH BAD DRAWDOWN for only 20 pips gain??? PLEASE RESPOND!!!”
Then 4 hours later I get a response…
"Forex AutoPilot Support to me
show details 9:38 AM (10 hours ago) Reply
There is no problem in it.
If your trade is not closed yet, have patience please. I am sure this
trade will close in profit as well because dollar is becoming weak.
Forex Market always has price movements in both direction - there is
no problem here.
You can backtest EA on history to understand how it works better.
Current minus does not mean a loss because trade is Open.
Only closed trades can be considered as a losing trade. FAPS makes 96%
of winning trades."
So now I am supposed to feel assured???
Then I call the recommended broker from the FAPS program and ask about the $50 rebate promised in the program and they say that was never the case!!!:mad:
So far so good otherwise, I’ll keep posting as this trade pans out. On a lighter note the broker is experimenting with FAPS and told me he is doing quite well with it but warned me of the dd and I asked him what he did. He said he’ll manually close a losing trade when it starts looking a little ugly and even still is in profit with this system so let’s hang on for the night ride because if I am going to get blown out , it will be overnight tonight:eek:
That autopilot program seems too good to be true. on the webpage of it, It says on the package "make up to 250 pips a day"
well even if you could see into the future (and therefore make a perfect buy or sell) you still could not make 250 pips a day for the simple reason that you don’t have such a pips difference every day and only on rare occasions when a currency crashes do you see so many pips …
However I stand curious of this program and I might give it a try on a practice account. so what is it exactly ? a plug-in for some compatible platforms ? a platform on its own ?
Hi TexasTrades,
I am glad to see that you are considering all the pros and cons of something before going all in. I would hate to see a fellow trading and Texan brother get hurt. Do you know how the system trades? If so, maybe you could mimic it with better risk management of your draw downs.
Autopilot trade is totally crap… Currency market moves by human intervention. Those so called Auto pilot cant justify the news event. Technical analysis are always a big liar. If you trade based on lie, downfall is a must. If any one wants to make PIPS, S/he must combine fundamental and technical analysis together. Above all Discipline is the key to success…
all about risk reward. to make 20-40 pips per trade, but then let a drawdown of 430+ pips is not the way to go (in my opinion). you’ll need 10 winners in a row just to get out of one bad trade. youre looking at 1:10 ratio. :eek:
if trading were that easy…just buy some automated strategy and let it run, we’d all be rich.
right on. i trade 100% technical, but obviously keep an eye on what news events are coming and whats happening out there in the real world. usually, if i’m up on a trade and news is coming out, i’ll take my profits. it’s not easy out there, a lot of variables that move these markets.
I had the proverbial “ah ha” moment tonight. I went thru my last several autopilot trades and noticed that if I had set it to “Manual confirmation” in the meta4 platform option, I could have took the trade (EVERY SINGLE ONE!) in the opposing direction of the autopilot signal and fared much better with ZERO losers and very minimal drawdown. So in that light I am setting it to manual confirmation to do just that HA HA HA!!! I got 'em now!!!
Here is my last email to the autopilot staff or “robot autoresponder” most likely!..
““Hi Marcus, it closed for a loss of -367 pips Wow, this system rocks! It rocks all your money out of your account. You don’t even respond to my questions, maybe you are a robot like your piece of crap autopilot. I will be getting my refund for sure or even better, I can manually enter the signals in the opposite direction than your crappy robot and make more money!!! Thanks for nothing! I’ll be telling all my friends to put this EA on the “AVOID AT ALL COSTS” list.””
I really need to learn to speak my mind better:rolleyes:
I also just purchased another promising product kiss ea …Anyone have an opinion or experience with it? It got great write ups. I’ll post on it later …Best regards and HAPPY TRADING! ~Bruce
I would agree that most EA that are sold are pure trash. I’ve only been live for about a month but I’ve demo-ed for nearly 5 months before.
My best advice, do some research, learn the basics of forex and just practice. I’ve found plenty of info/help here on this very site. Mess around with technical indicators, look at chart patterns, create your own system or even borrow one from those on the forums who are kind enough to help.
I’ve created my own system based on other successful ones, I’ve even written my own EA based on my system indicators.
Practice, practice, practice! Oh and it might be worthwhile to take your time, start small and work your way up instead of going for the gold straight out of the box.
I’ve been trading for 1.5 years and I’m comparing software to see which one has the most pros verses cons. I have too much going on lately to continue manual trading and thought I’d look into getting a software to help me out. Does anyone have any experience with Forex Assassin? If so, some details about it would be greatly appreciated.
~Bruce