Here are some of my thoughts and technical notes about the operation of Forex AutoPilot EA.
Note 1: System Drawdown
I've just noticed this. The drawdown on the very last position seen in the first 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 closed out that position for a profit. Here is the latest performance report (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 AutoPilot EA targets a 100% win-rate using its own automated robot without setting SL.
Related posts:
Technical Help (2): Forex AutoPilot EA
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Forex Autopilot Review: Don't Take Them (Robots) Too Seriously !
3 comments:
I purchased the FAPS program last week and I at break even trading. However, I am unable to do the strategy back test after following instructions. I get messages saying the FAPS code isn't activated(I couldn't trade if it wasn't) to mismatched charts!? I contacted cust serv with no reply so far, can anyone tell me what's wrong?
Jim, if problem persists, you may request for the "activated" copy of FAPS.
I've been running FAPS on a demo act. for 2 weeks with mixed results. Last wek I hit 10 of 12 trades, the losses were my doing.
Trade no. 13 on 6/9, EUR/USD, has become the much feared, account killing, big drawdown. I'm presently at over -400 pips. I'll continue watching and learning, but it seems for small accounts the lot size must remain small.
I moved the lot size to 5.0 instead of 1.0, I didn't like those $20.00 gains, but this big drawdown has convinced me.
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