Technical Help: Forex AutoPilot EA

(Originally posted on ScoutForex main site)

Here are some of my thoughts and technical notes about the operation of the latest Forex AutoPilot EA.

Note 1: System Drawdown
I've just noticed this. The drawdown on the very last position seen in the previous assessment (or simply click here for the Strategy Test Report) was about 400 pips using the suggested no stop-loss (SL) setting. The position has since made a strong recovery and the system has just exited that position for a profit. Here is its latest performance (last update: 1 September 2008)

Thus, what is the right account size to maintain the drawdown for scoring a 100% win-rate as programmed? Is the drawdown going to be a fallback of the system? These are the questions that I have no certain answers for you at present. My next task, probably, will be running more test scenarios using different SL levels to understand the system drawdown level as well as using different settings in live modes.

Note 2: Performance Optimisation
I ran some simple tests - if we use a stop loss level in the region of 400 -500 pips, we should be able to match the system's no SL setup by aiming for consecutive winning trades. Using other amount less than that probably won't cut it. The next set of questions will be - what are the improvements if we increase the take profit target to different levels? I probably leave you to find out for the moment...

Note 3: Different System Advantages
I think I might have judged William's Bogie EA unfairly by drawing up a comparison earlier as Bogie prefers a 100-pip SL on running positions. Meanwhile, the new Forex AutoPilot EA targets a 100% win-rate using its own automated robot without setting SL.