Summary: forex Auto Pilot is an old, and well established work-horse. 93). It is the cheapest I’ve seen so far. Downside is that when it makes a loss, it is a big loss. I’ve seen it make 20 $20 profits in a row, then make 1 $200 loss. I’m not saying “no” to it – I’m probably only saying maybe – or “definitely yes” if you also buy Fap Winner so that they can advise you on the best settings to run it with. $97 – 60 days money back guarantee.
Forex Auto Pilot was a sophisticated automated forex trading robot in its day.
Now the vendor pushes more his Fap Turbo product – at double the money. Forex Auto Pilot has been around a long time – 9 years. And it has the largest user base of 37,000 installs.
It runs on the Meta Trader 4 platform. Fully automated as the name implies, the robot makes it ideal for people looking to profit without spending hundreds of hours at their computers learning Forex.
Forex Auto Pilot, like all Expert Advisors is a custom set of trading rules to be executed when it sees certain trading conditions are met. If it does not recognise market conditions it likes, it does nothing.
So you install MetaTrader4 (free), and copy the Forex Auto Pilot file to the experts folder in MetaTrader4 (MT4), click a few buttons and you are up and running.
That’s the beauty of the MT4 metatrader platform. You can have multiple Forex robots, EAch working a different chart – each chart working a different currency pair. A copy of Meta Trader 4 is included with Forex Auto Pilot, and the first thing metatrader does on start-up is check if it is the latest version.
With Forex Auto Pilot everything comes set at “default” and you are recommended to leave them that way until you have tested it on a demo account/s with your broker or brokers of choice. Leaving it to run while you read the user guide and other forex materials is interesting and fun.
Here are some details worth keeping in mind as you consider Forex Auto Pilot.
The user’s guide is 74 pages and is well written. It steps you through the installation and activation of the software quite nicely. Also on how to back test it against historical data. Back testing does confirm similar results as those claimed on the sales page. But back testing is not everything – nothing like live testing to know for sure, which is why demo accounts exist.
After purchase you’ll also receive an ebook to understand the mechanics of the Forex market. This book is a general guide to Forex and can be used with any forex system.
The retail price of $97 USD is probably fair – it is old, and there are better Forex robots around. When I say it is old, it works on the most up-to-date trading platform – MT4.
And trading strategies are timeless. However, algorithms developed by people over time do improve. New strategies do get developed.
Universally true for all reviews on this website – all Forex robots come with an 8 weeks unconditional 100 of profitable trades is incredibly high – though not as high as others. And it does incur some pretty large open trade draw downs (DD) to achieve this. What this means is that while it may have closed the trade at a profit, during the life of the trade maybe the market went against it and the trade was in the red (loss) for sometime before returning to close at its profit.
However, historical tests would indicate that over the long haul the many small wins will out pace the few large loses provided you’re willing to ride out the losing trades.
Although Forex Auto Pilot does place ‘take profit’ orders at 20 pips to ensure it captures some profit when it occurs, it does not use protective stops to protect your down side.
The documentation strongly recommends AGAINST adjusting the stop and take profit levels. I find this to be of concern – but when tried, it does indeed degrade performance.
Regarding position size, the default is to use a fixed position size rather than a fixed percentage position size.
This is not the best way to do it as it not only increases your risk per trade after each losing trade, but it also slows account growth after wining trades.
It is much better to have it set as a percentage of your available account size. Then as your balance grow, profits grow too by being compounded.
A fixed percentage of your account will adjust the position size up and down as the account grows or shrinks and is generally a better idea. And you can set Forex Auto Pilot to use a fixed percentage but this is not the default.
Conclusion
It’s old, its solid, its proven. It has the largest user base out there, and has a private member forum for advice and support (moderated so that you cannot complain about it). Forex Auto Pilot is not a “must have” in your arsenal – but as an entry level expert advisor Forex robot – you could do a lot worse. The occasional large losses are compensated for by the many smaller profits. $97 – full 60 day money back guarantee.
But I strong recommend that you also buy the Fap Winner silver membership to get the most out of Forex Auto Pilot. See the most up to date review of this robot at http://www.forex-robots-reviewed.info/forex-robot-reviews/forex-auto-pilot.php
Forex Auto Pilot, Been Around 9 Years, 93% Successful Trades
Want to know why you want to choose the Forex trade? If you feel like asking this question to yourself, then you have some interest in knowing about the Forex market. What does the it offer you?Accessibility:The Forex trade has been increasing steadily. The currency market is a decentralised trade in which the whole world in interrelated. The average turnover per day is about $3 trillion. Do you think that getting into the trading is difficult? Of course the answer is No. The most important thing that you need for being a part of the Forex is to have a computer and an internet connection.24×7:Unlike other trade, the Forex market works 24×7 except during the weekends. This helps in enabling you to work at any time according to your comfort. You need not wait for the trade to start and end.Narrow focus:This is very different from the stock market. It has smaller market with thousands of stocks to choose. Since it has very narrow choice that revolves around few countries, you will not have confusion. You can get a clear picture of what is happening in the market.Liquidity:Forex is the largest financial market in the world. One of the big advantages of the Forex market is the massive scope that it has. It has enormous volume of daily trades. Thus, it makes the most liquid market in the whole world. This in turn tells that you can buy or sell the currency according to your wish.Forex market cannot be cornered:The enormous volume of the market ensures that no one will be able to corner the market. The banks themselves will not be able to control the trade for a long period.Profitability:The Forex market is one of the biggest attractions to many people as it has much profit than other financial trade. The Forex market’s profitability can be expressed in many ways. You need not be a millionaire for trading the Forex trade. The Forex market is not like other financial markets where in you need huge amount.Having seen that there are so many profits in the financial market, there are also many risks involved.Forex Market is a market which operates 24 hours a day online. This market is regarded to be the most liquid market wherein one country’s currency is exchanged for another country’s currency for a gain. A market like this obviously cannot work without huge chain of global banks, corporations and financial institutions. Though innumerable learning aids and resources on Forex Trading are available online, choosing the most reliable one is important and tricky too. So here are few tips which are going to probably make it easier to make the right choice.
Why Forex?
Investors in the Golden metal have enjoyed significant profits so far during the tenure of Benjamin Bernanke. However, some now fear that the recent selloff in gold presages Bernankes imminent dismount from his monetary high-wire act. But that fear is completely unjustified given Bernankes economic philosophy and the Feds own recent history in raising interest rates.
50% commission on this great forex scalping robot. Huge profits shown on attractive sales page. Converts very well & low refund rate. Be amongst the first to promote the Forex Luger and take advantage of this new release. http://www.forexluger.com/jv.htm
