Hi All,

Thought I would post my 2 cents about this topic since I have seen lots of reviews about this EA too....also I know a few people that have purchased it..

Firstly Seb/Nuke you need to relax....no one was saying outright that the EA does not work they were just giving their views on the reviews they have seen on the internet...If it works for you thats great! and I couldn't be happier....but you are defending it like you created it or something

Secondly....I have never purchased or used this EA....so I'm not stating if its profitable or not.....so Seb please relax....I'm not saying anything negative about it..

I do know 3 people that have purchased it....1 thinks its great and the other 2 say it needs LOTS of testing before they would ever run it on their live accounts they didn't say its bad they just said the results prior to 2008 are mixed in backtests...and backtests really don't mean all that much.....from what they have told me it runs on the EUR/USD 1m chart....and you don't just get 1 EA you get like 10 different ones or something....anyway thats from the people I actually know who have purchased the EA..

There are plenty of reviews about this EA on the internet as mentioned by rouge and tomaten and since no one posted a link I thought I would for anyone interested:

http://www.forexpeacearmy.com/public/revie...&perpage=10

There are lots of reviews there good and bad from users of the EA

Anyway thats just my 2 cents

Seb do you have msn or skype? I can't pm due to how many posts I have made

Hi Romerez,

If you look back in the thread you'll see Tomaten has kept pretending this EA doesn't work without apparently knowing it... He was quoting off-topic articles (one of them has even been removed by a mod) and every time I was showing him one of his arguments was off-topic or simply plainly wrong he was coming back with something else... Honestly this was getting boring in the end.
Now... Let's forget about him.

The two guys who told you they want to take their time to test it before they switch to a live account are simply RIGHT. Period. Nothing can replace your own personal testing and experience, and that's the reaction every one should have.

It comes with several EAs but only one of them is the actual automatic trader. The others are supposed to be bonuses - I know one of them is an indicator and I don't remember what the 3rd one is for... I don't really understand them for now anyway. Everything's clearly explained in the manual, and unless you can't read English, it's easy to understand which one is the automatic trader and how to set it up.

Alexander, I haven't used Skype in a loooooong time (long ago I was using the Linux version of Skype, that was by the time eBay bought them, they let their users down for months... The Linux version was buggy, people (including myself) had bought credits they couldn't use because of those bugs...). M$N... I'd never touch anything made by micro$oft. They're just not trustworthy, either them or their products, and I don't need them anyway. I haven't used them in over 8 years now.
I've used to have a Yahoo account long ago... I can launch my IM client if you like, but since I rarely use it it'll be exceptional. Just tell me if you want me to PM you my Yahoo address.

Seb.

This post has been edited by Nuke-Refugee: Apr 30 2008, 08:28 AM

Seb

I never said the EA was profitable or not....all I said was that there are plenty of reviews on the internet about this EA good and bad and the general consensus that I have seen is that over the long run it MAY not work....People talk about it having large drawdowns and results prior to 2007/2008 are mixed etc..

I have never used the EA so I can't comment on its performance either way

That being said if its working for you....then thats fantastic and I hope it keeps working for you..

1 of the major review links I was going to post has already been done by romerez so I won't re-post it

Happy trading everyone!

Sorry... I was upset because of Tomaten. He's been a real pain in the ***. And I was right - as you can see he's been banned.

Hi all:

I am really new doing FOREX (using demo version) and also using faps (autopilot forex) for 2 days. I have 3 questions:
1. Does forex market let traders to short sell?
In case the answer be positive : 2.-Does forex autopilot (faps) let traders to short sell?

In fact, if the answer for the question 1 and question 2 are positive, the forex autopilot system (faps) would do the short sell automatically, am I right?

3. Is it posible and real configure autopilot system to generate more than one trade at the same time?



thanks in advance, Luis from miami, florida

Hi,

Both long and short positions can be used, and yes FAPS will do it automatically.
Theoretically it should be able to do several trades at the same time... Now in the version I am currently testing (124) it doesn't. But I think that's a bug that's supposed to be solved soon if it isn't already. What's your version?


On a more general subject: it appears ForextTe's demo account are being reset on the 1st on each month... I'm going to check their site; But what I am sure of, is that when I woke up half an hour ago, ALL the history in my account had disappeared and the balance had been reset!
I hope nobody is going to believe I am trying to hide a loss... I just wasn't expecting this, otherwise I'd have continued the exact same test, but now I'm bound to start back from zero. At least I know that new test will be over by the end of May...
Too bad I didn't make a screenshot yesterday night, to prove that my initial deposit was still intact after the big draw-down and that I had already got back a part of my profit (around $150)...

Seb.

This post has been edited by Nuke-Refugee: May 1 2008, 01:33 AM

Hello Seb,

how r u doing?

Is Faps working well? I' reading everyday the forum thread about FAPS.

WHAT a BIG draw-down last week, huh? I though it was going to wipe out my demo account!

I'm testing n EA, it seems to be very good, but I think a little bit dangerous/agressive.

I started the tests (99% of the time with pc on and MT4 Online) on 16th April with a DEMO capital of 5000 USD.

Today, AFTER the draw-down of the last week, my account is with 11.973 USD.

Well, it's a little bit more than 100% of profit in 14 days. Seems that this EA is going well.

I was thinking about configuring SL and TP for this EA and see what will be the results, once orignally it uses TP: 255 and doesn't use SL (SL: 0).

How is going with FAPS? I read that FTE reset the account every month start, right?

Ps.: I tried to send this message as a PM, but seems MMG changed the rules and now I need to have at least 25 posts to send a PM (Stupid RULEZ)

Hi,

If I'm not mistaken the 25 posts rule isn't new... But that's no big deal.

Concerning ForexTe, I've asked the support to confirm, but until they reply, this is my own deduction... Since my history has completely disappeared and the trade was closed while there was no reason for it to be closed, I don't see any other explication: they've reset the account.

That's good that you're still in profit despite the recent events... Hopefully this is exceptional. And anyway this has allowed me to define at stop-loss value that would limit that kind of problem, without interfering with the usual trades (since a lot of them go temporarily into a loss to get back to a profit later you don't want the stop-loss to close them...). Since the draw-down was of about 400+ pips I think a SL between 200 and 250 pips (half of that big draw-down) should be fine. If I had used this setting I'd have divided my loss by two. I'm including that in my new test. We'll see.

Seb.

==========================================
I've decided to help a little bit more those of you who decide to order FAPS through me.
I hadn't used my Yahoo IM account in a long time, but I've recently decided to start using it again. So if when you've ordered FAPS the affiliate was "JACKCRAAB" just drop me a PM including your order ticket (so I can compare with my own list) - or if you can't PM just let me know here. I'll answer your questions as best as I can.
Note that this offer applies only to people who have purchased FAPS through me. And I don't have any M$N account or other IM protocols - only Yahoo IM for now.

Seb.

This post has been edited by Nuke-Refugee: May 1 2008, 04:40 AM

Yes Seb! It's very good that I am still in profit even after the draw down. This this kind of draw down rarely happens, right?
Because if it wasn't for the draw down I think my account would be with 200% of profit.

But anyway, I will still be testing this, and as soon as I can I will buy FAPS, because I'm really "curious" to see if it can make me a profit.

Another thing, can I open small accounts in ForexTe?
I don't have much money to start trading for live.

Can I use FAPS on a LiteForex Account?
Because on LiteForex I can Start with LITTLE money, like 50 to 100 USD and trade lot of 0.01.

Well, lets keep in touch, if you want to add me on Yahoo messenger: fbhz85

Felipe

Hi again,

You'd have to ask ForexTe's support what their minimum is... And for this other broker you're mentioning, if they support MetaTrader 4 it should work. FAPS doesn't work well with all brokers though (according to its manual) so I suggest you continue your testing with that particular broker if you intend to use them...

Seb.

This post has been edited by Nuke-Refugee: May 1 2008, 05:09 AM

Seb,

I just receveid your PM (but i couldnt answer) I am not using FAPS.

On my tests I am using a EA Called FrameWork, downloaded from this website:
http://www.earnforex.com/metatrader_expert...s/framework.php

LOL

Lite Forex supports MT4, but their own version.

Anyway, I just want to check more reviews and more results about FAPS to buy it.

Loooool OK you didn't make yourself clear in your posts lol!
Cause it looked like you were talking about results from FAPS...

Seb.

Yeah!

Sorry, my english sometimes fails LOL and I just woke up so I think my brain is still thinking in portuguese!

Anyway, I am very happy with the results from this EA I'm testing... In the next week I will test this with real money, I will receive my monthly wage tomorrow.

Can u check for me if FAPS works properly in Lite-Forex.com live Account?

Because if it does, it's another positive point for me to buy FAPS.


;-)

Hi,

It takes time to test this... If this broker supports MT4 then you'll be able to use FAPS on it, obviously. The point that *may* be questionable is its performance. So if I opened a demo account with this broker I wouldn't be able to give you an answer before a week or two... What I can do immediately though, is to check if this broker's in the list included in FAPS' manual; It isn't a guarantee that FAPS will work fine with this borker but it'd be a good clue - I doubt the authors would include a broker that they know isn't adapted for FAPS in their list... I'll be right back.

Seb.

edit: got this one in the list - is it the right one? Straighthold Investment Group, Inc. http://www.liteforex.org

Also, I've jsut seen in the manual that ForexTe offers a $50 signup bonus, so I guess they allow very small accounts... Ask their support to make sure of it.

This post has been edited by Nuke-Refugee: May 1 2008, 05:52 AM

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