Business as Usual for Forex Autopilot

We had a lot of discussions (see here and here) about the operation of forex autopilot.

Last month April, we had our first negative return month of the year. Hence, this month should be an interesting month to follow up. Until yesterday, only 3 trades has been closed out in May. Today, I just saw the 4th trade being closed out for a profit after recovering from an early drawdown.

It is not difficult to understand the autopilot EA trading concept.

Basically, the more closed trades you have, the more profits you make.

The monthly P/L can be simply calculated using this formula:

(n-1) x (tp) - (dd)

n being the total of open trades in a month. tp is the take profit level (20 pips in this case). Due to a monthly reset, dd being the final p/l of the last open trade of the month, which is usually a drawdown.

Let's hope it is business as usual for this autopilot ea from now on, at least for this May.

Updates: ForexAutoPilot EA May' 08 Performance (+31 pips)