Im a newbie in Forex trading and I had heard about the softwares are they really helpfull? they told me these things about autopilot “Forex Autopilot was originally created to help you profit in forex trading, but as their disclaimer suggests, you can’t always make money. Sometimes you will lose money as well, but obviously most of the time, the robot will profit for you. Forex Autopilot minimizes the risk to a minimum, that’s why the chances you will profit are very high”.Please tell me your experiences
Hi,
all i can say is if your entering trades, then you need to understand why?
As everytime you do your risking money!
N
I am new at forex trading also. I have autopilot. It wins a lot. But when it is wrong it does not know when enough is enough. The draw-downs are crazy. Better to learn what you are doing. Whished I had came to babypips earlier.
yea i think loosing money by a machine should have really buged you
Hi I have autopilot too. I found that this autopilot is better for determining of main trend but worst for determining of entry point. I think it is useful for swing traders with much money. If any body want I can give this software free.
Thanx a lot but i think i’d been convinced not to use it
Yeah, same here, lol
I think forex software programs are helpful if you know how to use them. You should never use them as a “stand alone” IMO.
I was doing well with AutoPilot closing manually whenever I decided to do it. I left it running by itself for a week and lost all my account… seems that when I don�t move nothing it just acumulate drawdowns, by the way, I never saw it closing a losing trade…
What do you mean under “not to allow stand alone” ?
i’m not sure autopilot… i’m too scrare
autopilot I might try it one demo
however, if you have good system and EA writer can go with your system. it should be win auto trader system.
The Failure of Most EAs / Autopilot
Most EAs, 95% of them, fail.
It is a fact that can never be argued. Why? Because most EAs execute trades based on indicators and indicators are lagging � all of them. I have developed more than 30 EAs that are based on indicators and all fail in RANGING time. It can be very profitable during TRENDING time because most indicators work well during that time, but most INDICATORS fail during ranging time, so do the EAs that are based on the Indicators.
The ROOT CAUSE of the EAs� Failure ?
The answer relies on the ROOT CAUSE of the problem. For every problem in this world, if we can identify the root cause, and do something to the root cause, the effect will change almost instantly. We cannot run away from this Universal Cause and Effect scenario.
So, what is the ROOT CAUSE of the Failure of EAs ? Simple � the Indicators!
The Solution � so how to find the Profitable EA then ?
Now, the answer is �almost� clear. One must find the EA that is developed NOT USING ANY INDICATORS. That�s it. That is the SOLUTION.
So, have we solved the problem yet ? Not quite yet. How on earth would we know that the EA is not based on any INDICATORS ??
Is there any CLUE ?
The CLUE to find EA that is not based on any Indicators is to search for the word � Correlated Hedge EA or Correlation Triangle EA and read the small description of the EA of how the �formula� used by the EA. This info is available even in a short description of the EA�s trading principal.
These type of EA does NOT use any Indicators, so we remove the root cause of the problem.
Why Correlated Hedge or Correlation Triangle EA consistently profitable ?
It uses the formula of a/b x b/c = a/c (eg. EUR/USD x USD/CHF = EUR/CHF).
By playing around with its thousand combinations of ways to trade based on this rule, this amazing correlation triangle and its obedience to the fundamental mathematics, enable the traders to gain steady and consistent profit, and by compounding the equity, the wealth created from this will be unbelievably great for the whole forex community of traders.
Caireono
Autopilots are so different one cant say its good or bad. Manual intervention is mostly needed and keeping a eye on them as markets change so much from trending to choppy and sideways . Not many can produce a autotrader that is a fire and forget Ea even though i know its wery possible deppening on method used . Some use a whole range of different Ea deppending on the market så they use scalpers when its scalping time and trenders when its trenders time etc etc to make a overall profit etc etc.
Well it depends.I have seen many people earning good money on autopilot.I am yet to try anyone but will surely try it out in future.
What exactly is autopilot?
It is a trade copier or signal service? There isn’t much information about it on this thread and I can’t find anything through doing a basic search.