It's time to put your Forex Autopilot (FAP) expert advisor back into work again, if you think the stock market has finally bottomed out. At least I think so. And below is my reason.
During the first two weeks of March, FAP robot seemed 'back to old self' and was able to record strong gains at the same time we saw the stock markets rebounded from multi-year lows.
Actually, it's not too difficult to see the good correlation between the FAP results and stock benchmark performance such as S&P.
FAP robot tends to do well when the stock markets is gradually rising or even trading sideways.
Over the last 12 months, FAP had made profits 5 out 6 times (83%) when the S&P moved less than 5% (in either direction) in a month.
On the other hand, FAP had incurred losses 5 out 6 times (83%) when the S&P was sold-off more than 5% in a month. This happened in Sept 08 (-9.2%), Oct 08(-16.8%), Nov 08 (-7.5%) , Jan 09 (-8.6%) and Feb 09 (-11%).
So, if you think the stock markets are going to get better from now, run FAP robot.
Showing posts with label Marcus. Show all posts
Showing posts with label Marcus. Show all posts
Tuesday, March 17, 2009
Thursday, September 4, 2008
Release of Forex Autopilot New Version
New ForexAutopilot version is the latest released updates from Forexautopilot CEO Marcus B. Leary and his development team.
The latest changes include:
* New optimized algorithm to decrease the possible drawdowns and increase the profits
* Global MA indicator trend control feature. Now FAP works great for both bullish and bearish trends!
* Adjustable times. You can now set the exact time you want FAP to start and end trading!
Members are asked to redownload the new FAP robot from the membership page asap.
I hope to see it in real action soon and will try to compare the ea performance for both versions.
- What Happened to Forex Autopilot in August?
- What Happened to Forex Autopilot in Late April?
- Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
The latest changes include:
* New optimized algorithm to decrease the possible drawdowns and increase the profits
* Global MA indicator trend control feature. Now FAP works great for both bullish and bearish trends!
* Adjustable times. You can now set the exact time you want FAP to start and end trading!
Members are asked to redownload the new FAP robot from the membership page asap.
I hope to see it in real action soon and will try to compare the ea performance for both versions.
Friday, August 29, 2008
What Happened to Forex Autopilot in August 08?
Back in April, we all asked the question, "What happened to Forex Autopilot in late April?"
Before that, the Forex Autopilot system appeared to do well by making most of the profits via BUY signals during the strengthening period of the Euro currency. Therefore my other questions were - "Can the FAP ea also make the SELL signals and perform as good when the downtrend has begun?"
According to Marcus & his team, the FAP system is capable of detecting the change in direction based on its inner parameters and therefore it can make SELL signals. So I was convinced.
Now in August, we should raise the question once again "What the heck happened to Forex Autopilot or Euro in August?!" The FAP was found to be in a big drawdown mode as the Euro currency finally lost its ground against the dollar. At present, there is no way for the FAP to crawl back this month as it could post its biggest losses to date.
We could clearly see that the down trend has started...but the FAP was unable to make consistent sell signals. What has gone wrong? Has the FAP failed to detect the change in market direction?
The answer actually lies in the inability of FAP to open an opposing trade to offset a trade that is already running. In August, it was the BUY position which was last opened on the 5th. Since then, then euro had almost tanked 1000 pips. This eventually resulted in an large drawdown.
In other word, the FAP program could only recognise one open trade in one chart and will refuse to open a second trade or counter trade. Other keen FAP user was spot on to suggest opening two separate charts and setting up two FAP programs so that on one chart it only enters short positions, and on the other it only enters longs. (This could be achieved by using the magic number feature.)
I am not sure this is the long-term answer for FAP. But if the sell mode could be initiated for this month, it would obviously make some sound profits, instead of the hefty losses (see report). The Forex Autopilot program definitely requires some sort of right human intervention and its autopilot mode couldn't keep us long in the game.
Before that, the Forex Autopilot system appeared to do well by making most of the profits via BUY signals during the strengthening period of the Euro currency. Therefore my other questions were - "Can the FAP ea also make the SELL signals and perform as good when the downtrend has begun?"
According to Marcus & his team, the FAP system is capable of detecting the change in direction based on its inner parameters and therefore it can make SELL signals. So I was convinced.
Now in August, we should raise the question once again "What the heck happened to Forex Autopilot or Euro in August?!" The FAP was found to be in a big drawdown mode as the Euro currency finally lost its ground against the dollar. At present, there is no way for the FAP to crawl back this month as it could post its biggest losses to date.
We could clearly see that the down trend has started...but the FAP was unable to make consistent sell signals. What has gone wrong? Has the FAP failed to detect the change in market direction?
The answer actually lies in the inability of FAP to open an opposing trade to offset a trade that is already running. In August, it was the BUY position which was last opened on the 5th. Since then, then euro had almost tanked 1000 pips. This eventually resulted in an large drawdown.
In other word, the FAP program could only recognise one open trade in one chart and will refuse to open a second trade or counter trade. Other keen FAP user was spot on to suggest opening two separate charts and setting up two FAP programs so that on one chart it only enters short positions, and on the other it only enters longs. (This could be achieved by using the magic number feature.)
I am not sure this is the long-term answer for FAP. But if the sell mode could be initiated for this month, it would obviously make some sound profits, instead of the hefty losses (see report). The Forex Autopilot program definitely requires some sort of right human intervention and its autopilot mode couldn't keep us long in the game.
Monday, July 28, 2008
Backtesting Metatrader History Data for FAPS, Tracer and Bogie
I managed to download more than four years of history data for the purpose of backtesting MT4 expert advisor programs such as Forex Autopilot (FAPS), Forex Tracer and Bogie-NN-v8.
Here are their results based on a starting balance of 10,000:
Here are their results based on a starting balance of 10,000:
a) Forex Autopilot on 1 Minute (M1) 2004.06.16 - 2008.07.22
Fixed size 1 lot; Performance +378%
Remark: In 2005, the EURUSD went from trending up to a 2000-pip drop. Trend-following system such as FAPS indeed suffered a loss of -28% but bounced back strongly in the subsequent years.
Fixed size 1 lot; Performance +277%
Remark: Despite having the full historical data, I was only able to generate backtest results from April 07 and I wondered why. I am really keen to find out how it faired with FAPS in 2005. (Has anyone seen its results?)
I) Fixed size 1 lot; Performance -100%
II) Variable lot size function (0.2 - 4.7); Performance +832%
Remark: Bogie went burst in 2005. Only with risk management in placed (i.e. by using its autolot feature) , Bogie survived the tough year of 2005 and performed particularly well in 2008.
Tuesday, July 1, 2008
Profits vs. Drawdowns for Bogie, FAPS and Tracer EAs
In general, June was a very good month for trading. There were a a lot of sizable moves intraday and overnight reactions which stirred up the forex markets. Euro (EUR/USD) was the most interesting pair to watch since it recorded its historical high back in late April. Since then, it has entered into a consolidation phase.
I have three expert advisors which all auto-trade the same EUR/USD market, i.e. Bogie, Forex Autopilot (FAPS) and Forex Tracer, but on different time periods. I will show you how they all fair in the month of June. For comparison, all three were assigned with with same account level at the start of the month. Initial deposit: $1000; Fixed lot size: 0.1 lot. Here are their end results:
1st place: Bogie-NN-v8 end balance $2434 (143.4%) Approx. +1434 pips
2nd place: FAPS end-balance $1169 (+16.9%) Approx. +169 pips
3rd place: Tracer end balance $903 (-9.7%) Approx. -97 pips
Final remarks:
1) Bogie-NN-v8 had a very strong month in June as it outperformed others during this market phase. At many occasions, it did superbly by selling at the tops and buying at the lows.
2) Compared to previous month results, FAPS was slightly underperformed this month, but its overall results since the start of the year were impressive. June was the fifth profitable month of this year.
3) Tracer was recently launched. Unlike FAPS, it uses a fixed stop loss level of 250 pips, thus giving you the comfort of knowing its risk limit. Unfortunately, June was a volatile month which in turn resulted the EA to hit the bump twice. Despite all that, Tracer EA showed great resilience and nearly made it back to the positive.
I am not sure what July will bring, but i have high hopes on three of them. If the current trend continues, Bogie is the one to look out for. If the Euro continues to gain momentum towards the upside, FAPS and Tracer should be back to exhibiting their real strengths.
I have three expert advisors which all auto-trade the same EUR/USD market, i.e. Bogie, Forex Autopilot (FAPS) and Forex Tracer, but on different time periods. I will show you how they all fair in the month of June. For comparison, all three were assigned with with same account level at the start of the month. Initial deposit: $1000; Fixed lot size: 0.1 lot. Here are their end results:
1st place: Bogie-NN-v8 end balance $2434 (143.4%) Approx. +1434 pips
2nd place: FAPS end-balance $1169 (+16.9%) Approx. +169 pips
3rd place: Tracer end balance $903 (-9.7%) Approx. -97 pips
| EA Performance (Jun' 08) | Bogie | Tracer | FAPS |
| Time period | H1 | M30 | M1 |
| Stop loss used | 200 | 250 | --- |
| Absolute drawdown (% from initial deposit) | -3.6 | -24.9 | -28.7 |
| Maximal drawdown (in term of pips) | <100> | 250 | >500 |
| Final profits (in term of pips) | +1434 | -91 | +169 |
Final remarks:
1) Bogie-NN-v8 had a very strong month in June as it outperformed others during this market phase. At many occasions, it did superbly by selling at the tops and buying at the lows.
2) Compared to previous month results, FAPS was slightly underperformed this month, but its overall results since the start of the year were impressive. June was the fifth profitable month of this year.
3) Tracer was recently launched. Unlike FAPS, it uses a fixed stop loss level of 250 pips, thus giving you the comfort of knowing its risk limit. Unfortunately, June was a volatile month which in turn resulted the EA to hit the bump twice. Despite all that, Tracer EA showed great resilience and nearly made it back to the positive.
I am not sure what July will bring, but i have high hopes on three of them. If the current trend continues, Bogie is the one to look out for. If the Euro continues to gain momentum towards the upside, FAPS and Tracer should be back to exhibiting their real strengths.
Friday, May 2, 2008
What Happened to Forex Autopilot Robot in Late April?
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
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
Friday, March 7, 2008
Technical Help (2): Forex AutoPilot EA
Due to the recent program reliability issues (i.e. EA inactivity and Invalid price error_129), Marcus Leary and his support team made a first-time direct e-mail response to me and claimed that the problem has finally been resolved with the latest update on the ForexAutopilot EA. Click here for more info and the new EA should be updated in the member's area.
I also took this opportunity to raise my point regarding the EA trading and its potential system drawdown in hope to figure out the working of this forex autopilot EA. We've already seen quite a strong performance for this EA as the Euro rode from the 1.48 level to the current level of 1.54 !
I direct the following question to Marcus:
Q1: At what point the EA decides to take a loss and what is the acceptable drawdown for this EA?
Here is his full response:
Earlier, I also send some of my queries to Andreas:
Q2: May I ask what is the eurusd_m1.set? And where should it be placed plus how can we change the default parameter?
Q3. LotsRiskReductor – Defines the risk. The parameter default is 1 , and what does it means. At what point, the EA decides to take a loss?
Here is Andreas's reply:
If you have any problem/issue regarding this FAPS ea, you can try its support team or forward me your queries. I will put up a Q&A for everyone to read.
Latest Update: Great news ! My site readers can now use this e-mail address to reach Marcus & support team 'faster'. In addition, the technical problem surrounding the forexautopilot EA has been resolved via the latest EA update. In the mean time, you can also check out this latest performance report from the forexautopilot trading team.
Related Post:
Technical Help: Forex AutoPilot EA
I also took this opportunity to raise my point regarding the EA trading and its potential system drawdown in hope to figure out the working of this forex autopilot EA. We've already seen quite a strong performance for this EA as the Euro rode from the 1.48 level to the current level of 1.54 !
I direct the following question to Marcus:
Q1: At what point the EA decides to take a loss and what is the acceptable drawdown for this EA?
Here is his full response:
It decided to stop according to signals from inner indicators. ForexAutopilot EA does not use fixed stop loss. It uses smart settings for stop loss to close losing trades according to inner indicators. EA with fixed stop loss will finally loose your deposit if trading against trend. Our ForexAutopilot EA does not have such problem. when i backtested i saw drawdown near 20-30% if trading with low risk.
I recommend 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
Earlier, I also send some of my queries to Andreas:
Q2: May I ask what is the eurusd_m1.set? And where should it be placed plus how can we change the default parameter?
Q3. LotsRiskReductor – Defines the risk. The parameter default is 1 , and what does it means. At what point, the EA decides to take a loss?
Here is Andreas's reply:
eurusd_m1.set can be skipped. It contains default parameters to let user load them if he wants to use default parameters after changing EA settingsLotsRiskReductor
To let program use AutoLot management (it means that IE decides the lot size itself) the variable Lots should be set to zero. So LotsRiskReductor will define the risk size. LotsRiskReductor can be from 1 to 10. 1 means 10% of risk of deposit. 10 means 100% risk.
If you have any problem/issue regarding this FAPS ea, you can try its support team or forward me your queries. I will put up a Q&A for everyone to read.
Latest Update: Great news ! My site readers can now use this e-mail address to reach Marcus & support team 'faster'. In addition, the technical problem surrounding the forexautopilot EA has been resolved via the latest EA update. In the mean time, you can also check out this latest performance report from the forexautopilot trading team.
Related Post:
Technical Help: Forex AutoPilot EA
Friday, February 29, 2008
Technical Issues on ForexAutoPilot EA
Latest Update: Great news ! My site readers can now use this e-mail address to reach Marcus & support team 'faster'. In addition, the technical problem surrounding the forexautopilot EA has been resolved via the latest EA update. In the mean time, you can also check out this latest performance report from the forexautopilot trading team.
(Originally posted in my forex killer autopilot trading blog)
A lot of distress comments/e-mails lately about the ForexAutoPilot EA not firing up any trades and its lame technical support. I directed all your concerns to Andreas and here is the latest email response I managed to get from him. Below is the direct quote of his reply..
I am not sure what is happening. Everyone please download the EA again just for sure. If still not working, simply request a new copy again from the program developer. The best I can do FOR NOW is helping you to redirect your queries or problems to Andreas. I am not paid for this kind of job though ;0) !
If you wish to obtain this new AutoPilot EA, please be warned about the lack of response from the customer support. In the mean time, I would like you to consider also my forex day trading method which can provide you with 'real' forex trading knowledge/support and allow trading within your own control.
(Originally posted in my forex killer autopilot trading blog)
A lot of distress comments/e-mails lately about the ForexAutoPilot EA not firing up any trades and its lame technical support. I directed all your concerns to Andreas and here is the latest email response I managed to get from him. Below is the direct quote of his reply..
From Marcus:
About no trades in few days comment:
"Experts-Robots open trades few times a week when their internal indicators see the market conditions to open trades. They don't have to open many trades or trade every single day. The role is to make profit, not to make many trades! Also Experts dont trade on weekends because forex market is closed."Robot must work on EuroUsd M1 only!"
About Alligator Jaw error = 129 error:
"it was fixed, ask the client to redownload robot."
From Andreas:
To add, I personally started to use FAPS Forexautopilot on Demo in http://alpari.co.uk/ and made over 1500 of profit in few trades for last days, so I can personally confirm and show the record that this EA is really working and making money. Maybe not in all brokers. I attach the proof screenshot of account. Please post this screenshot to let people know. HERE.
I am not sure what is happening. Everyone please download the EA again just for sure. If still not working, simply request a new copy again from the program developer. The best I can do FOR NOW is helping you to redirect your queries or problems to Andreas. I am not paid for this kind of job though ;0) !
If you wish to obtain this new AutoPilot EA, please be warned about the lack of response from the customer support. In the mean time, I would like you to consider also my forex day trading method which can provide you with 'real' forex trading knowledge/support and allow trading within your own control.
Friday, February 22, 2008
Technical Help: Forex AutoPilot EA
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 !
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 !
Thursday, February 21, 2008
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Forget the previous 8 EAs. Now your main ForexAutoPilot package should come with the one and only - ForexAutoPilot.ex4, plus the two extra EAs - NFP_Pilot.ex4 and ULTRA_TREND.ex4 - in the bonus package.
Please check out these claims by the developer first.
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 Oct 2008) for its up-to-date PERFORMANCE.
p.s. The performance report will be updated frequently to let everybody aware of its ongoing performance.
p.s.2 Technical help, i.e. system drawdown and parameters etc. Here and Here
p.s.3. Technical issues, response from program developer Here and Here
p.s.4 Latest monthly performance Here
Please check out these claims by the developer first.
Trading System Description:The following question immediately popped into my mind after receiving this latest ForexAutoPilot 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 EUR/USD 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 Oct 2008) for its up-to-date PERFORMANCE.
p.s. The performance report will be updated frequently to let everybody aware of its ongoing performance.
p.s.2 Technical help, i.e. system drawdown and parameters etc. Here and Here
p.s.3. Technical issues, response from program developer Here and Here
p.s.4 Latest monthly performance Here
Wednesday, February 20, 2008
Forex Autopilot Review: Don't Take Them (Robots) Too Seriously !
Below are some important advices which can be found at the member zone after purchasing the Forex Autopilot Package.
After trying out for another hour today (may be still too early to judge?) using Strategy Tester - the BACKTESTING feature of the METATRADER platform, I have some uneasy feelings about those 8 robots (EAs) with fancy names due to their backtested results !
I have HIGHLIGHTED in RED some of the so-called IMPORTANT advices (as seen in the pic. above) in order to alert users NOT to take them too SERIOUSLY !!! They (i.e. EAs, instructions, and advanced ebook) are probably good EDUCATIONAL MATERIALS with SAMPLES for helping users to learn or get used to the concept of auto-trading in Forex market using expert advisor program.
In my opinion, we probably WON'T understand how they really work or which market conditions they excel, unless undertaking HUGE TASK to find out, i.e. many man hours to observe on our own, or may be even better, ask directly for more information from the developers.
The EA in the name of ProfitStream Advisor looks impressive at first glance by generating streams of profits, i.e. booking small and consistent profits as promised. However, users could end up with a large unrealised drawdown in the most unfortunate circumstances, which do happen quite often when dealing with a volatile forex market.
Therefore, I would suggest you to learn the BACKTESTING function first before strapping the EAs onto a demo or real account. Unfortunately, no detailed instructions are given for this purpose in the the instruction PDF -the only missing info in a clear instruction guide. Here is one useful document I found for you on Strategic Tester to get you started.
P.S There is actually another two more robots being thrown as ForexAutopilot EA's bonus ! The NFP (for trading non-farm payroll job report !) and UltraTrend EAs. They have more detailed instructions than that of the 8 EAs combined. I would probably pay more attention to those two EAs for now. Please share your backtesting or any results with me if they happen to be CONSTRUCTIVE !
P.S.2 My FORWARD test results coming soon..
P.S.3 Andreas just informed me (his words) that Marcus Leary plans to introduce new EA this week with stable results instead of his current set of 8 EAs. We got RESPONSIVE actions from the program developer - via the power of blogs ! Stay tune for more updates as we will ride this EA robot-trading learning progress together, thus making sure that our money is well spent.
See also:
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Technical Help: Forex AutoPilot EA
After trying out for another hour today (may be still too early to judge?) using Strategy Tester - the BACKTESTING feature of the METATRADER platform, I have some uneasy feelings about those 8 robots (EAs) with fancy names due to their backtested results !
I have HIGHLIGHTED in RED some of the so-called IMPORTANT advices (as seen in the pic. above) in order to alert users NOT to take them too SERIOUSLY !!! They (i.e. EAs, instructions, and advanced ebook) are probably good EDUCATIONAL MATERIALS with SAMPLES for helping users to learn or get used to the concept of auto-trading in Forex market using expert advisor program.
In my opinion, we probably WON'T understand how they really work or which market conditions they excel, unless undertaking HUGE TASK to find out, i.e. many man hours to observe on our own, or may be even better, ask directly for more information from the developers.
The EA in the name of ProfitStream Advisor looks impressive at first glance by generating streams of profits, i.e. booking small and consistent profits as promised. However, users could end up with a large unrealised drawdown in the most unfortunate circumstances, which do happen quite often when dealing with a volatile forex market.
Therefore, I would suggest you to learn the BACKTESTING function first before strapping the EAs onto a demo or real account. Unfortunately, no detailed instructions are given for this purpose in the the instruction PDF -the only missing info in a clear instruction guide. Here is one useful document I found for you on Strategic Tester to get you started.
P.S There is actually another two more robots being thrown as ForexAutopilot EA's bonus ! The NFP (for trading non-farm payroll job report !) and UltraTrend EAs. They have more detailed instructions than that of the 8 EAs combined. I would probably pay more attention to those two EAs for now. Please share your backtesting or any results with me if they happen to be CONSTRUCTIVE !
P.S.2 My FORWARD test results coming soon..
P.S.3 Andreas just informed me (his words) that Marcus Leary plans to introduce new EA this week with stable results instead of his current set of 8 EAs. We got RESPONSIVE actions from the program developer - via the power of blogs ! Stay tune for more updates as we will ride this EA robot-trading learning progress together, thus making sure that our money is well spent.
See also:
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Technical Help: Forex AutoPilot EA
Sunday, February 17, 2008
Forex Killer Found Forex Autopilot EA
I received this e-mail today from Forex Killer software developer, Andreas Kichberger (or Kirchberger, typo error in his own name, may be ;O) ? ). I suppose other forex killer software users might as well get this PROMOTION newsletter as you were subscribed for the free 8-day forex killer crash courses.
OK, I got it. They are selling Expert Advisor script for the purpose of AUTOMATIC TRADING in the Metatrader platform. Since I am a KEEN user of expert advisor and I also run my own EAs, I will be live testing this 'recommended' EA myself. It costs me $89.50 (the best offer price) + $15.66 (vat) - own affiliate commission. Our SITE USERS will probably get the first-hand update regarding the forward test results of this Autopilot EA. We will JUDGE its results by then.
From Andreas Kichberger
Subject: ForexKiller found ForexAutopilot
... A close friend of mine and very successful forex trader, Marcus Leary developed AUTOMATIC set and forget meta trader 4 plugins that .. trade your accounts automatically. The whole package consists of 8 robots that can be applied to different trading graphs and literally make you money.. while you sleep.
This software is brand new and I had to encourage him to make it open to the masses. He was very reluctant to give up his "secret" but finally he put it online:
FOREXAUTOPILOT http://www.forexautopilot.net (he really took a little inspiration from forex-killer it seems) but i really do not mind because the software is a MASTERPIECE...
OK, I got it. They are selling Expert Advisor script for the purpose of AUTOMATIC TRADING in the Metatrader platform. Since I am a KEEN user of expert advisor and I also run my own EAs, I will be live testing this 'recommended' EA myself. It costs me $89.50 (the best offer price) + $15.66 (vat) - own affiliate commission. Our SITE USERS will probably get the first-hand update regarding the forward test results of this Autopilot EA. We will JUDGE its results by then.
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