Subscribe to main siteForget the previous 8 EAs. Now your latest Forex AutoPilot package should come with the one and only - ForexAutoPilot.ex4 Metatrader Expert Advisor Script.
Please check out these claims by the developer first.
Trading System Description:The following question immediately popped into my mind after obtaining this latest Forex AutoPilot upgrade from Andreas (supposedly from Marcus).
Trading system of ForexAutoPilot advisor is based on over 20 modern forex indicators such as Alligator, Fractals, DeMarker, William's Percent Rate. The system detects good trend, confirms it using internal indicators and opens the trades to take maximum profit for you. The system does not use fixed stoploss parameter to prevent getting losing trades. ForexAutoPilot advisor monitors each open trade carefully and closes it if reaching takeprofit limit when the trade is successful. If the trade is loosing ForexAutoPilot advisor closes it using signals of its internal indicators to prevent drawdowns.
Currency and TimeFrame:
ForexAutoPilot advisor is optimized and can work only on EUROUSD pair on 1M (1 minute) timeframe.
BackTest on History
Great results in 2007-2008: 700% of profit in 1 year! Made 74,035 from 10,000 usd!
So, what's its recent performance (Since Jan'08) even the popular Bogie EA was underperforming?
Thus, I quickly performed a backtest from Jan'08 to present and I managed to compile a Strategy Tester Report (and Graph) during this period for your viewing. Looking at these results alone, this new AutoPilot EA could be a better deal than the original 8 EAs provided.
The forward live testing is now ON. Readers can now check back HERE (last update: 1 September 2008) for its up-to-date PERFORMANCE.
28 comments:
Most of the people said that the forex killer is a good program to generate signals. I tried this program many times but most of the time i lost. I think that make something wrong with the setting or something else i do not know about it. what is the probability you use to enter the market. some times the program does not give me the stop and take profit. do i need to use my own. can i trade forex using forex killer and without using stop loss.
Thanks
Hi anon,
I feel sorry for your losses. Have you checked out my simple forex killer day trading strategy yet (simple instructions available on my main site)? You won't find such detailed information and trading support even from the main forex killer site. Check back here often for more trading tips.
Lloyd
Yes. i allready checked your day trading strategy before 1 week but still not understand what do you mean about the price correlation.
Thanks
Price correlation is just a simple relationship between some currency pairs. Why don't you join my service to find out more? In my opinion, useful instruction is more valuable than the software tool. I am sure that u already study the objectives of the service reading from my site.
(by the way, what's your name?)
Lloyd
Hi Lloyd
What settings did you use for your test on the new Autopilot EA? I've had this running on a demo account using the default settings for almost a week and the EA hasn't opened any trades yet. Have you found the same?
Thanks
Andy
Have the same problem tried running it on 4 diffrent MT4 for last 3 days and no trade only error messages "2008.02.28 13:24:59 ForexAutoPilot EURUSD,M1: Alligator Jaw error = 129; desc = invalid price" every time it wants to do something, I am not happy, backtesting it traded in that time but running demo and real nothing. can some one help.
Andy,
Strange indeed. You are the third person having this problem. I am now investigating the matter for you guys.
Lloyd
Anon1144,
please check this reply from Marcus and redownload the EA.
I am having the same error with the most up to date version...
Please fix this problem ASAP. We're really losing $$$. In this case time IS money !!!
FXDD is my broker.
I hope this helps. I got this info from the developers of Metatrader:
"ERR_INVALID_PRICE129 = Invalid bid or ask price, perhaps, unnormalized price. After 5-second (or more) delay, it is necessary to refresh data using the RefreshRates function and make a retry. If the error does not disappear, all attempts to trade must be stopped, the program logic must be changed."
Thank you,
Keilor,
Time is indeed $$$ :0) ! You may want to read this latest response from the program developer regarding this 129 error. Hope the problem is now fixed.
Lloyd
Why does your backtest use lot size 1 and forward test use 0.10? Are they tested on different (standard vs. mini) accounts?
Also, this is the first time that I used Strategy Tester on IBFX MT4. My reports are not nearly as detailed as yours (no dates, etc.). They also do not show the account balance with each trade. Is IBFX different or am I doing something incorrectly.
I would encourage Forex Autopilot to start a forum to discuss the EA. The manuals that come with it really seem to lack direction. For instance, nowhere does it tell me how to optimize my lot settings according to my account balance. This could cause me to either overtrade and margin the account or miss out on profits.
Thanks for your help.
Craig, both are backtesting results but on different lot sizes. I think their end results wouldn't differ too much.
The program developer suggests to trade FAPS ea:
0.1 lot for deposit 1000-2000 usd
0.5 lot for deposit 5,000
1 lot for deposit 10,000
Click here for more info.
Lloyd
Lloyd, Thanks for the reply.
I tried using 0.50 lots on a $5,000 account on a 1/1/07-today backtest. I am only showing a $527 net profit. It also only shows trades only opening up on two days during Jan '07. Could it actually go that many days without a signal or do you think my data is missing days?
Also, just to clarify...the recommended lot sizes per deposit are mini lots or standard lots?
Craig,
My guess is that you could be in a drawdown mode in January.
Hope this is useful:
Technical Help: Forex AutoPilot EA
0.1 = minilot
1 = standard lot
Lloyd
I'm new to this, so forgive the rookie question. :-)
What's the difference between Forex Killer and Forex Autopilot?
Thanks in advance,
Eric
Forex Killer is a technical analysis software which generates trade entry signals.
Forex Autopilot is a expert advsior program which automates the forex trading process.
Thanks Lloyd!
Just a couple of more questions and I'll let you get on to more important matters.
So, the programs are not correlated in any way and serve a different purpose altogether, correct?
That being the case, as a newbie, would you choose one over the other? I'm "demoing" Forex Killer and having some good short time results. Is FAP as simple and effective?
I've looked for an honest to goodness comparison of the two systems but can't find one.
Thanks in advance,
Eric
Both systems are uncorrelated. And I don't think you can compare them directly. Using forex killer, you can enter and exit trades based on your own discretion. In forex autopilot, the system will automatically open and close positions around the clock 24/5.
Between Sunday evening and Tuesday morning FAP closed 7 trades for a total of 175 pips. This is only my second week using the EA but my initial thoughts are very positive. Anybody else having similar experiences?
Update from last post - I'm currently sitting on a trade down 400 pips (YES 400!). The EA failed to cut losses and exit trade. I know of someone else who is sitting on an almost identical loss. This software is very dangerous with no stop losses and apparently very poor exit indicators.
Craig, check out this latest post to find out more about the unique FAP's trade exit mechanism and its past performance. We should be able to measure its monthly performance consistently rather than judging on a few trades. Considering the size of the drawdown, we should not ignore the fact that the FAP is still in good profit for the month.
i wanted to know how did you calculate 111 dollar profit because if i consider the last lose on apr 11 you wouldnt have 111 dollar profit.
The last trade is unrealised loss. So far, 6 trades have been closed out in April for +108 pips. I will keep updating the report throughout the month, so you will learn its running P/L too.
Hi,
i open a live account with 500$. I made around 630$ in two days!
They update the FAPS and I lost 1717$...
I will keep the old version.
Great post on the forex software ! A holistic article on some commonly held beliefs of forex softwares! Keep the great posts coming!
The description given by you about the Forex trading softwares is too good. I like this.
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