Hi,

Sure you can.
You can test it on a demo account with any broker of your choice, as long as that broker supports MetaTrader 4.
Concerning FAPS itself, you even have a 56 days money-back guarantee - thus you have two months to test it in demo mode and decide if you are satisfied with it or not.

Seb.

edit: why would your schedule allow you to test it only 1 day per week?
It's a fully automatic system - start it, set it up (it's easy to use but you may wish to mess a little bit with the settings to maximize your profits) and... Forget it. Just leave it on. It doesn't need your presence.

This post has been edited by Nuke-Refugee: Mar 20 2008, 04:46 AM

Well I would want to be in front of it cause i need to to test everything i have never traded only read about it. I don't know how to even read the backtest results on the website. I see the financial profits on the right side but I only halfway understand the rest of the items on the sheet so I would want to know exactly what everything is before i set it up. KNow what I mean? I just got off work so I'm a bit tired lol. But here's a question lets say i bought a lot for 10.00 bucks and it goes lower than that amount will it empty out my accounbt while i'm asleep or am i only in danger of losing the 10 bucks? See it's little tidbits of info like this why i want to be in front of it while it's running.
what is the win /lose ratio?
Thanks for any info you can answer with.

Hi,

Once you've started a trade, its profit or its loss depends on the value of the currency you've bought.
The price may go up, or down. But depending on the type of order you've placed (either buy or sell) you may actually need it it go either way (for a buy order you'd want the trend to go up to make a profit, for a sell order you'd want it to go down).

FAPS job is to decide when the right conditions are met to start a trade. Once it has started to make a profit it will protect it with a trailing stop (i.e. there's some profit but the trend seems to invert, then we take the profit now and close the trade, even if it's less than we wanted in the first place). You may also set a stop loss (there's a loss, we don't want it to go too low, thus we define a value from which we'll consider we call it a loss and close the trade).
You can start using FAPS with absolutely no knowledge, try it in demo mode, even leave it for a few days (especially since it may not start trading right away: its objective is to make successful trades, not to make many trades) then see the results (you don't need to monitor it even if you wish to learn from it since you'll have a complete report on what it has done), and later improve your strategy (value of the trailing stop, of the stop loss (S/L on the scrennshots), the take profit value (T/P), etc...).

To helpl you understand the results you may have seen:

* Balance: that one's obvious, it's the current balance of your account.
* Equity: your balance, but that one takes into account all the open trades and their current profit or loss. It is not definitive profit or loss since an open trade is of course not finished.
T/P: Take Profit value of a given trade
S/L: Stop Loss value of a given trade
Size: the lot size. If starting with a low account (like a few hundred dollars) you'll surely want to use small lot sizes because it'd cost less (your example at $10,00, assuming this is 1 lot, would only cost $1 with a 0.1 lot size).
Price: the current price of the currency of a given trade.
M1, M5, H1, etc...: periods. Use these to define on which time scale your EA should work. FAPS is made for M1 (1 minute).
EURUSD, EURGBP, etc...: currency pairs. Forex is about trading one currency for an other, thus they go by pairs.

Hope that helps.

Seb.

yup it did help, thanks. Are you the seller of this ea?
and is there a win/loss ratio? I've seen a few out there that claim 85% win and even higher claims. Sorry so many questions I am getting ready to invest something somewhere lol and want as much info as possible. (I lost a bundle in autosurfing 12dailypro, remember them, I don't want to lose again.)

Hi,

It's not mine if this is your question... There's no way I could write something like this! I'm just selling it, but that's all.

The author claims it has a 93% ratio; According to my experience it seems to be higher than the reality - it does make a profit and is right most of the time, but once in a while there can be a loss (thus a good S/L value is important; Don't set it too low or the systtem will drop trades that would have reverted to finally become a profit).
But the main point is it makes profit.

Don't compare this to hyips / surfs... Most of those sites are scams. I've had a good laugh recently asking in several hyips threads for the details of the company... In one of them I've even been told I was "stupid" for asking such questions - so according to that cheerleader it would be stupid to be willing to know who will manage my money, and if they are operating legally. I should just spend without asking questions. LOL!

With Forex nobody can scam you: you choose the right strategy, you win; You choose the wrong one, you lose. In both cases, you are in charge, you and nobody else.

Seb.

Alright...payday is around the corner lets see what happens. Thanks for all your help.

You're welcome.

I've changed my hardware about a week and a half ago (the hard drive of my laptop broke down) and didn't bother getting back my first test account... So last week I've started a new test, which I intend to leave running 24 hours a day. I won't interrupt it, whatever happens. The first screenshot is already available.

interested to get an update on this program.

Is it really that easy to set up and start working?

Yes.
It's been designed for people who don't know anything about Forex. It may not be the most performant (this I don't know), but if you know how to copy-paste, you can start using it. Just have a look at my personal splash page you'll see the 3 simple steps you need to do in order to get it working. I've put it all black on white, with screenshots.
If you try it, don't believe too much some reports that tell you you'll make a big profit quickly with it - according to my experience, it makes some profit, but isn't really "fast" (I'm talking about people pretending they are making +600 pips a day with it - it can happen, but there are days where it won't make a single trade, and other days it may start a trade that'll take several days to succeed, so 600 pips profit a day isn't true, because it isn't constant). It has been designed to be very simple to use, not to be fast.

Seb.

This post has been edited by Nuke-Refugee: Apr 2 2008, 10:46 AM

That Expert advisor only can be used on EUR/USD timeframe M1 i have that

This post has been edited by davileonardo: Apr 2 2008, 11:34 AM

Correct. It's been designed for this currency and time frame.

I've been using this system for about a week now and like Nuke says it is very very simple.

On top of that I also have my own system which has certainly paid off.

In USD/Eur I effect a Buy order and a sell order one after each other and I set a 20pip profit take on each.

Sometimes it gets taken in a couple of minutes other times it's a day but in 4 days I am $12 short of $1,300 profit on my test account.

MyPC is on 24 hours a day and i just leave the program running.

I'm using a test acount for 30 days before going live with real cash but i'm very excited for the future.

Hi, how do you attatch FAPS to your Broker account in order for it to trade? or do we attatch Meta Trader 4 to our Broker account?
Thanks.



This post has been edited by sundancers: Apr 6 2008, 09:09 AM

Hi,

Actually each broker that supports MetaTrader 4 provides its own version of the application.
It is exactly the same program, except that it offers you the possibility to connect to your broker.
So if you have chosen a broker that supports MT4, then have a look on their web site they surely provide their own download. The applciation may be named differently (it's FxCast Pro with FXCast, ForexTrader.meta with ForexTe), but it's still MetaTrader 4... If in doubt just compare what they offer with my screenshots, they should look the same.
Then once you have the application installed and you have purchased FAPS it's only a matter of copy / paste and then drag and drop, as shown on my examples.

Seb.

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