Yes Seb, I've seen a lot of positive results and I believe FAPS can make profit. But I am just waiting to see the results on the DEMO Test on the account of LiteForex, as I am with limited money to invest for now my only choice is LiteForex.

Anyway, now I think I have 25 posts, and we can talk via PMs to do not mess your entire posts with particular subjects, right?

Ps.: I'm quite busy here in the hotel but soon as I can I will send you a PM.

Many Thanks,

Felipe

LOL!
Sorry... As I've told you I've seen FAPS was behaving normally, I didn't continue that test...
Since it's working the same way it's been working for me with other brokers, I don't see the problem. What you needed to know, actually, was if that broker was doing its job correctly (i.e. orders executed too late and such = FAPS will fail). And the last few trades, after I corrected the settings (cause I had the wrong settings in the beginning remember?) were successful. Thus I've stopped that test - I can't keep two sessions of MT4 running on that machine it's just too much (I have other big needs, especially for that short 3D movie I'm currently developing).

Seb.

PS: As long as you're talking about FAPS it's fine here... But anything else should indeed be sent in private.

No problem Seb - About the test was stopped.

I've already seen it works and about the broker I believe they do their job well, because i've been testing them with another EA and it's working pretty well.

I'm on period of decision about buying the EA - LOL
I'm sure it works but i ahve some doubts about forex and I didn't have enough time to read about.

Examples:

If I start a mini trade account with 100 USD or 200 USD and the EA makes all winning trades, based on 30% of profit monthly it means that I will have approx. 130 or 260 USD in the end of a month? (Of course, I now the market can change) but I am just trying to analyze my possibilities of profit.

Felipe.

Well that's the basic idea...
But it's not necessarily "in the end of the month". You get your profit each time a trade is closed. Then, to be able to withdraw, it depends on the conditions of your broker.

seb.

Great. So I'm on the right way to start making money with FOREX, which I believe is the best market ever, as long as you have the good tools to work with that.

I mencioned about monthly income just to have an idea of how it could be making profit and how much.

30% monthly is much more than any saving account you will ever find on a Bank with such little money as 100 USD. LOL

About the conditions of my broker I will check it myself, I have just to go to their website and read a couple of lines.

I sent you a PM about other subjects.

Another thing, did you already start any REAL trade account? I mean with real money.

Felipe.

Nope, not yet...
I'm not making enough yet from other sources to be in a position where I could affect some capital to this. I have unfortunately too much to pay back lol!

Seb.

I've tried forex autopilot and it was working great for a few days, but then I got burned by closing trades manually. I'm ready to start up again but I am very cautious and I wish to know which settings I should use. There are also a few questions I have

Forex Autopilot should be used on EurUsd M1 chart right?

Should the settings be...
Long & Short
Disable Alerts
Allow Live Trading
Disable Manual Confirmation
Allow DLL Imports
Disable DLL Confirmation of Function Calls
Allow Import of External Experts

And the inputs:
Lots = 0.0
LotRiskReductor = 1.0
MaxOrders = 1
MaxLots = 100
aaa = 13
bbb = 14
TakeProfit = 20
StopLoss = 0.0
TrailingStop = 50.0
SpanGator = 0.5
SlipPage = 3
SafetyGapDemarker = 0.2
SafetyGapWPR = 0.0
Key = *********
I don't want to break any possible forum rules for advertising brokers but currently Im using pfgfxlite.com

Is there anything im doing wrong or am I set to start running it again? Thank you for your time.

Hi,

Just do exactly as it is said in the manual - nothing more, nothing less.
The settings you might want to tweak are: lot size, take profit, and trailing stop.
You may wish to add a stop loss but be careful with it (I have already talked about that, check back in the thread), cause you don't want it to be triggered too soon, since a lot of your trades will temporarily be at a loss, and then revert back into a profit.
And don't close them manually... One of the points of using an automatic system is not to make that kind of mistake. Let it work, and be patient, even if it takes time. With a carefully set lot size, you should be able to sustain all the trades, even those that are at a loss for some time.

Seb.

Thanks for the help, I recovered $40 last night. I would recommend this to anybody who keeps most of their money in a bank account. It pays for itself really soon if you do it right and don't close trades manually like I did.

I heard only the best about Forexautopilot.

I am trying my demo account in forexte broker with autopilot faps, it's working fine. If you have a 1k account the parameter lots would be 0.1, lots=0.2 for 2k account, lots=0.3 for 3k account, so on...lots=1.0 for 10k account. My question would be what happen if you have 12k, 15k, 20k or 50k accounts? what would be the parameter lots? I think would be lots=1.2 for 12k account,lots=1.5 for 15k accounts, lots=2.0 for 20k accounts and lots=5.0 for 50k accounts, am I right? And the other question, the last end of the month my positions ended, it was insane...is it because the broker forexte or because autopilot faps? thanks in advance, Luis

Hi,

For your lot size, if you have a big account... You decide. You could still be using a lot size of 1 on a 50k account. Just make sure you remain "reasonable" depending on your equity, and not on your balance.

For your ForexTe account... If you read back in the thread you'll see I've said they apparently reset the accounts once a month. They haven't replied to my support request to confirm this by the way... This doesn't make them look too serious.

Seb.

New screenshot uploaded...
As you'll see I've had a loss on Wednesday, but my stop-loss prevented it from going too far, and within 3 days that "glitch" was repaired... I'm already back to where I was and in profit again.

Seb.

I have just added a live statement , updated once per hour...

Hi to all!

I'm new here but on FAPS for one and a half week now. ( starting on 5th May)

I started a demo-account of 3000 dollars on Forextrader and am 1420 dollars in profit. It´s pretty unbelievable, 7 trades and all of them in profit!

I´m an absolute newbie on forex, so I let the system do its working ;-)

Best

Micheline

Hehe that's what FAPS is made for
Be careful with your lot size though, to go that fast I suspect you kept a lot size of 1... Right? That's too much on a $3k account (well $4.5k now lol!). You must be able to survive a draw-down when it happens.

Seb.

ouch, I wouldn't know
I'll see to it however... Thx for the tip!

PS Closed some more trades ;-)
now 4.8 k



best
Micheline

hello again:
I just talked with an agent from Forexte broker. I told him that i am no so happy they reset the system each end of the month. She said: "that's not true, the last end of the month forexte had to change their servers and that's why the system was reset" also she said: "the next change of servers would be in years". Now i have a question for you guys....how many times forexte broker reset the system? or just they reset it this last end of the month?

Hi,

That was my own conclusion that they reset the accounts once a month... Because it happened on the 1st and they wouldn't reply to my information request (!!!) so I thought it was their habit. But maybe I was wrong. Since I've used them for only one month and a half it has obviously happened only once so far...

Seb.

The system is quite good ..earlier i trade 0.1- 0.30 lot and now almost 1 mth i have $1000 above ....although sometime to earn profit will need to wait till 2-3days ....but i have never lost ..(Of course u must have enough fund to sustain your negative balance ,so that when it go down against u ..u still have monies to cover the margin

OK, does any of you use this robot with your own money or just on a demo account?

I am personally on a demo account...
I don't think there would be much difference with a real account anyway, the data received by the application being exactly the same. Thus the EA would do exactly the same trades.

Seb.

New screenshot uploaded.
Current profit since the 1st of May: $594.61

Seb.

And my profits since 1st May are $752 so this shows that Nukes test is about right.

A few times I have had a trade go up 17, and then the trade plummeted down to negative hundreds. I don't know anything about forex, but I do know that this can be protected against with a trailing stop. Do you have any reccomendations on what I should set it as?

I currently have my TS at 5 (or 50 with ForexTe since they use one more 0 than other brokers)... Works quite well but some times I feel it could be better. Well you have to make your own tests and find the value that suits you the best. But anyway, using a TS is indeed a necessity.

Seb.

PS: Current profit $677 (see my live statement, I'll probably publish a new screenshot this week-end).

profit since 5th May 2008: 12 trades, all positive!
profit: 2476 dollars. I seem to trade a bit too agressively, but as its a demo-account I just let it run and learn from it.

have a nice weekend

Micheline

New screenshot uploaded (Friday, May 16th).
This gives you the precise status of my test by the end of this week.

Seb.

had a look at the result and the drawdown pretty large.

This system does seem to work, but also seems to work better if you trade against it.

Enigma, I guess you're talking about the live report (for the others: I've had a draw-down for about 2 days - but don't look for it at the moment cause it's gone now; You couldn't see it on the screenshots because they show only closed trades, but it was visible on the live report). Draw-downs do happen but this one was nothing near "large"... I was still far from my stop-loss (which I've set based on half of the really big and quite exceptional draw-down there's been by the end of April).
With a correctly set lot size and stop loss it's no big deal. Some trades will take a few days to be settled, but as long as it makes a profit in the end, it's fine... The draw-down you're talking about is already history, this trade is around 0 / -$20 at the moment and will probably make a profit soon.

Seb.

yeah, it prob went into profit not long after my post. was just curious - thot AFPS was a 'scalping' EA and therefore wasnt expecting any significant drawdowns in the statement.

Well no, not yet
That's its main default... Some trades can take a few days. I could have interrupted it yesterday when I posted about it since it was so close to 0 but I'm trying to do a reliable test here... Thus I won't touch anything. I'll wait - for now at least, cause if it takes too much time maybe I'll stop it when it gets close to 0 again. For now I'm just losing some time, that's no big deal actually.

I have no idea what "scalping" is so I can't answer you... All I can tell you is that it has its own internal mechanism to decide when to stop trades (but you're free to use a stop/loss too of course).

Seb.

From 5th May: profit on demo account: 3118,75 in 15 trades ;-))))) all trades winning.

I'm considering opening a real account, 500 or 1000 dollars.

What would be the correct parameters to set? Lot size? Stop/loss?

Grateful for help!

Thx Micheline

I'm not even sure about which settings to use. But one thing I do know, do not pick a broker that can manipulate prices. Some of the brokers play games with the graphs. Make sure you pick a reputable brokerage. Try to see what awards they have won and stuff.

Using forex trader right now....

That's good to know...
For your settings check back in the thread and / or on my site. You're mainly interested in lot size, take profit and stop loss.

Seb.

I've finally hit my stop-loss... I should have interrupted that trade the other day when I had a feeling it wouldn't go any lower.
Anyway... This only means I've set my stop-loss too high. I'll try to lower the value... I need to have a look at all the other trades for this; Cause the problem is still the same: the stop-loss should not be triggered on all the "normal" trades...
I've mostly lost my profit by the way so it's not catastrophic. I may even earn those $700 of profit I had within a few days... We'll see.

Seb.

New to all of this...what do "?
you mean by "trade against it"?
Thanks
Lee

He means a lot of trades go temporarily into a loss, and thus you could do just the opposite trade and make a profit. But this is not systematic, so be careful with that.

Seb.

Keeping you posted:

Start demo 5th may 2008, 3000 dollars
today: 24 trades all winning, balance 7884,75 dollar
25th trade on loss right now.


Micheline

I am new to this too...what pairs are you watching and what are your "input" settings? Are you using only Forex Autopilot?
Thanks
Lee

FAPS works only on EUR/USD.
The only settings you might want to change with it are take-profit, stop-loss, and trailing-stop. It all depends on your account and your objectives... The best thing to do is to try with the default settings first. On a demo account, of course.

Seb.

Seb,
The Forex Autopilot instructions state to leave the StopLoss at 0. Have you found something other than 0 works with the SW?
THanks
Lee

I'd say FAPS's main default is that it can do only one trade at a time. This actually appears to be a bug, since in the settings you'll find an option to allow several simultaneous trades... So the risk by using no stop-loss, would be to get stuck in a long trade (I'm talking days or even weeks) that never finishes... It could be at a loss for weeks to finally turn into a profit. But in the meantime, how much are you going to lose in terms of profit that could have been done?
If they would only solve that bug it would be less of a problem... But with the current version of FAPS I personally would rather use a stop-loss to prevent some trades that go deep into a loss to last for ever.
Of course it would be different if the version you have isn't the same as mine - I've already checked with someone else who ordered it in the beginning of May there doesn't seem to be a change... Does your forexautopilot.ex4 file have the same size as mine (19.3kb)? Does it have the same last date of modification (March 6th)? You can also try to fire up a second EUR/USD chart and attach FAPS to it, then see if it will make two trades at the same time or not... If things haven't changed, it won't.

Seb.

im guessing you cant profit from an initial investment of $100?

That would depend on your broker... But yes, honestly, $100 seems extremely low.

wow fast reply nuke.

will i be able to achieve $5-$10 a day?

thanks.

Uh... You're dreaming.
Very small deposit means very small lot size (like 0.01 - I don't even know if there are brokers who offer this...). Have a look at my screenshots and the past performance... Take my first test for example, this was on a $3000 account, divide the results by 10 you'd have a $300 account.

Seb.

The version I have is 24kb and dated March 26 2008. 7:37 pm. I have run up to 5 trades (all bought at different times and values, all EUR/USD) running simultaniusly and all of them either went up or down at the same rate. Based on this I would assume that all were "trading". Also, when I closed any of these trades, the gains/losses were reflected in my balance. Since all 5 trades were for EUR/USD I had only one chart open and the single chart had all 5 trades reflected on it.

Lee