Forex AutoPilot
Basically, it opens a trade with a profit target of 20 pips, and hopes for the best.
I have been using Forex AutoPilot since May 5th and it was doing well. Unfortunately it doesn't use a stop loss and when the EUR/USD began its fall a couple of weeks ago Forex AutoPilot completely wiped out my trading account. Prior to that it was doing well and making me money but it only takes a couple of bad trades to give back everything. It was winning in the 90% range but as I said two bad positions and my account was completely wiped out. I was left with $120. People may defend it and if you manage it closely it can be profitable but I have the PROOF of where it wiped me out. I think it is a version away from being a "good" EA but not even close to great. It closed one position out with almost 600 pips of loss and another position with 550 pips of loss. It takes A WHOLE lot of 20 pips winners to make up for that. After those two massive losses and while the pair was clearly in decline it opened two more buy positions and closed them out when I ran out of margin (both were down close to 50% of my account each before they were closed) so be very careful with this EA if you decide to use it. Manage it very carefully as it is not good enough to autotrade alone.
Hi All,
Just want to know if somebody is using Forex Autopilot. How is it working. Is it worth to buy it??????????????
Regards
ckmoied
Not to my thinking Support is non-existing unless you give them 600.00 more dollars. I've been using it for 3 mo. 800.00 real dollars lost. bye bye
I got it for nothing more than a punt. have made back purchase costs and it [in spite of it's total cretonous behavior] continues to make a few usd's most sessions. is of academic interest only and would never use it's long term functionality. only scalper part used on all 4 pairs it supports BUT only with micro lots and one percent risk on a 'not care if burn it a/c balance'. gives daily entertainment to see how dumb it is. is also [for me] instructional in how not to approach robot writing - each day it demonstrates amazingly sad decision making attributes. as previously stated by unfortunate icwalter, fap takes many little trades to cancel out it's crazy and totally illogical losses. given that overall it has shown some [meager] profit, it continues to run on my system. as said, is just a punt and highly entertaining - nothing more.
personally, I would be highly embarrased to think that I produced such cr*p and... to actually call it an Expert Advisor - LOL. it is just NOT SAFE, for my subjectively stated reasons above.
yes, fap motivates me and each morning when see it's craziness I become very energized because I know deep down I can do so much better - this and total goal of financial freedom is what keeps me glued to the desk. [sad or what :-o]
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Hi All,
Just want to know if somebody is using Forex Autopilot. How is it working. Is it worth to buy it??????????????
Regards
ckmoied