I received some e-mails from my readers which are also the users of Forex Autopilot. Below are their concerns over its recent dip in performance in late April.
John - "Have been running two demos with the Autopilot and recently handed my ass with the big drop in Euro. At the end of month got cashed out for many thousands even set with proper parameters for margins. Is that a common occurrence?"
MRM- "Last week i got 100% profit from my US$1k deposit . Then , i changed the FAP setup .. asking to open 0.3 lots . It seen as to difficult to make a profitable trading as last week . What happened to my robot ?"
To give you a full picture, the Euro hit an all-time record high on 22 April but has since lost its ground. As a result, April was the first negative-pip return month since January this year. Hence, this is really quite "unusual" when comparing to its first three month performance. Hence, everyone was concerned.
It appeared to me that the Forex autopilot performance was closely correlated to the strength of Euro since the start of the year. Basically, when the Euro was growing, the ea made most of the BUY signals and profits. So the real question is what happened to the Euro recently ? It seems that the Euro is currently at a consolidation phase and noone knows for sure when the bullish phase will resume or finally come to a halt.
So, if the Euro resumes its upward trend from here, it will be business as usual for this EA. What if the down trend has started? According to Marcus & team, the forex autopilot will be able to detect the change in direction based on its inner parameters and it can make SELL signals too. I will have to see it myself first and shall keep you updated about its latest development. So this still holds true, what comes up must come down. Make sure you follow my postings on the trade exit and system drawdown to give you some heads-up about the forex autopilot ea.
Related posts:
Business as Usual for Forex Autopilot
Q & A : Forex AutoPilot EA Trade Exit & Monthly Performance
4 comments:
Hi Lloyd, hope all is well. Just an update on forex autopilot. It had a stinker last month, which is not surprising as there was massive movement on the EUR/USD.
I am glad to say now in my 2nd month it is off to a flyer. 4 positive deals so far and up 94 pips. Flawless performance so far.
It would seem then the market is volatile it is best to turn it off because it cannot cope. So many times the timing was just totally wrong.
Mabye its best to use forex Killer when the market is up and down?
Anyway so far this month it has led me to believe this product is not bad at all.
One Technical question. One deal closed on a 34 pip profit, when I had it set to 20.
I'm a little confused as to why?
Haz, it could be a sudden gap up in price due to news releases. Hence, the exit level may vary depending on your broker's execution speed.
Hi Lloyd,
great blogs! I really enjoy reading the great info. I bought FAPS a while back and like back testing these EA's. My backtests come up all blank in the "results" and "graph" sections of the MT4 when I run the backtest. I know it's some small thing I'm forgetting and I thought you may be the guy to ask. Any thoughts?
Thanks for your time,
Jason
hi
my autopilot is working fine its log time to make profit whats the proper prameters want to be apply and will autopilot do more lotage also let me know
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