Quote:
Originally Posted by astro18  Hi all,
i'm new in this forum, so maybe you can help me, i like to know your opinion about Forex auto pilot system (FAPS).
i'm still doing some test on demo account try differnt EA ( gt shadow, robotminder, FAPS, evolution...) and i see that FAps have good erning but although big lost.
Thnanks for your opinion.  |
astro18,
Check out the ForexAutoPilotForum.com, they have lots of good info specific to the FAPS and FAPT. I own both of these and the only one I'm really considering putting on a live account now is the FAPT Scalper.
FAPS is a very interesting program, and the fact that so many people use it, or try to use it, says something about it, or its marketing, or maybe just our gulibility?? Either way I've enjoyed running both these programs, and I've learned from each one, enough to warrant the cost. However, FAPT is the only one of these two that I run consistently.
FAPS can be a great earner, and it can be an account destroyer. If you run backtests on the default parameters, it can make enormous profits, and then throw them all away on one or two bad trades. Its the no stop loss philosophy, which brings back an old saying, "if your entering a trade and having trouble placing a stop, or accepting your stop point, its most likely the entry thats bad".
This is not a good set and forget robot, however it can work well if you use it consciously, choosing trading directions, long, short, or both, or not at all, depending on your observations of the markets direction and volitility, and closing trades when necessary. The problem with this is that the markets change direction quickly at these short time frames, and trying to follow a longer time frame, as the FAPT long term EA does, which is the same EA with some long term filters added, subjects you to the full range and subsequent drawdowns associated with that time frame.
As you can see I think there are still a lot of problems to be worked out with these programs. The guys at ForexAutoPilotForum have their methods and strategies, and they run FAPS on live accounts, profitably, so there seems to be possibilities.