Maybe i need to contact the support then becouse its still not trading. I had it turned on like 20 hours now.

2008.04.20 23:06:42 ForexAutoPilot EURUSD,M1: initialized
2008.04.20 23:06:39 ForexAutoPilot EURUSD,M1 inputs: Lots=0.2; LotsRiskReductor=1; MaxOrders=1; MaxLots=100; aaa=13; bbb=14; TakeProfit=200; StopLoss=0; TrailingStop=200; SpanGator=0.5; SlipPage=30; SafetyGapDemarker=0.2; SafetyGapWPR=0; KEY="012345";
2008.04.20 23:06:39 ForexAutoPilot EURUSD,M1: loaded successfully

Not a single trade..

You can ask them if you like but that kind of situation can happen - it's even written in the manual...
Now, since mine hasn't finished yet a trade back from Friday, I don't know if it would have done more today.

All I can tell you is to make sure the "Expert advisors" button is enabled, and that you have allowed live trading in the expert's options. Also make sure you have sufficient funds (i.e. don't use a lot size of 1 on a $3000 account this wouldn't work; On a small account reduce the lot size, i'm using 0.2 and it works just fine. This is also in the manual).
If you've checked all this and it's still not making trades then yes, contact the support. They might simply tell you it'll only trade a few times a week though.

Seb.

Anything in the "experts" log or the journal tab that would indicate an error?

This post has been edited by jafar00: Apr 22 2008, 12:38 AM

New screenshot uploaded (made today, April 22nd).
Total profit since the account was opened: $816.
Do not forget that I'm using a reduced lot size because I'm using a small account (started with $3000). With a normal lot size (1) I'd therefore have made 5 times more ($4080) in about 3 weeks.

Seb.

Hi Seb,

Which lot size do you suggest with a 500€ bankroll ( i can't put more.... )

Thanks for your advice

Didier

Hi,

That's indeed very small...
I'm not even sure 0.1 would be enough. Uh well, so far with 0.2 I've had up to $500 draw-down so at 0.1 it'd be $250, that'd work... Now honestly I'd use 0.1 with a $1000 capital, but with $500 it might be limit.
I'm wondering if it is possible to use less than 0.1... Not sure you'd have to ask your broker if they allow it.

Seb.

Well how is everyone doing on their trades. I am sitting on a trade that is about 400 dollars down right now. Prior to the last trade yesterday night, I was doing great 500 dollars up. I can't tell when the autopilot is going to stop out, but hopefully it will bounce back. Any thoughts???

What is your losing position (buy or sell, price)? I'm just curious how bad it is and how many pips you're down. Chances are that the autopilot won't stop out the trade until the 1st of May. As long as I've been testing it I haven't had it automatically close a losing position (aside from the 1st of the month). I'm sure there's a lot of people sitting on losing positions right now since the price dropped quite a bit from the 1.6000 high. It will probably test that resistance again.

How does Forex compare to E-trade
and some of the other programs for trading
out there?
I would like to work with the program that
is the most user friendly and cost effective.
any thoughts?

Hi,

I'm in the same situation right now - but it was also the case on Friday and the situation has been resolved since, with a profit... I'm not really worried about it, as long as the lot size is set up correctly you shou;d be able to survive a draw-down with no problem.
If FAPS has to stop the trade it won't wait for the 1st of the month... It has happened to me a couple of times in the past and it wasn't on the 1st. Honestly I don't know how it decides if it's time ti call it a loss or not, all I know is that I've seen it do it but it's really rare.
All you can do is either to decide t osit on it for some time, knowing that FAPS won't do a second trade while the 1st one is active, or close it yourself in order to let it do other trades. The decision is yours.

Seb.

PS: Stevehirsch1... What do you mean? I don't know what E-trade is... And "Forex" is not a program it's a market.
MetaTrader4 (which we're all using here) is a trading platform and FAPS is an automatic trading system (a robot)...
If you need help with all this, I'm currently working on a small initiation site for beginners, I hope to have it completed today, it's nearly ready.

This post has been edited by Nuke-Refugee: Apr 24 2008, 01:16 AM

Ok... It still requires a little bit of polishing, but it's online.
Beginners will find there the basic notions they need to start. It is not a trading course, just an introduction. I made it so beginners don't feel lost - and this is the reason why it's called "Forex for the n00bs". http://cmp-france.homelinux.org/f4n - this should help you get a basic picture Steve.

Seb.

This post has been edited by Nuke-Refugee: Apr 24 2008, 03:21 AM

I have no plans on closing it out at this time. I am just letting it go, quite a surprise this morning to wake up and see a .3 lot down 800 dollars. I am going to hold out and see what happens. It looks like it is forming a bottom and I hope to see it retest that high resistance line.

Looking at the history, there are some similar falls... Last time it took 3 days to get back to the level it had before the fall (April 18th to April 21st - open an H1 chart you'll see it). Let's wait and see...
Actually I regret that FAPS won't do several trades at the same time cause while waiting for the trend to revert there'd have been some good profit to be made during the fall. Maybe that's something they should work on.

Seb.

This post has been edited by Nuke-Refugee: Apr 24 2008, 04:49 AM

I agreed with your point that FAP cannot trade more at the same times....and normally i hold it until get the profit if lose too much ...now i have make a profit ...i trade 0.3 lots for just USD1000 invested

Might be a little bit too much - so far my biggest draw-down has been around $650 with 0.2 lot on a $3000 account (which is perfectly sutainable)... So at 0.3 lot on a $1000 account the same draw-down would nearly wipe out the account. You'd be safer at 0.1 lot, and increase it to 0.2 when you reach $2500.

Seb.

Advertise With MMG. Click Here Now To Find Out How.