Quote:
Originally Posted by gross77777  Ken,
I read your message on another message board that regular Forexautopilot with TP  20 SL 60 and trailing stop 5 does well.Do you still feel that way ?
Greg |
Sure, sometimes, sometimes not. On a demo account. If the market is behaving right you could through darts at it with this strategy and do good. Now FAPS is a little better tha a dart, but it still lacks some important criteria. Or rather the way it uses its two key indicators draws some doubts.
The Demarker and Williams % R are both fine oscillating indicators. Traditionaly they're used to show overbought and oversold conditions, but FAPS seems to use them on a directional basis. Meaning, it doesnt seem to look at the level of the
indicator and will buy or sell overbought or oversold conditions, as long as the indicators
point in that direction.
A strategy such as this one will do fine as long as there is continuation of
trend within the allowed 60 pip stop limit. It will still lose when it buys into a larger reversal, or chopy situation, and historicaly, backtesting, it has poor results. The problem is, like the scalper, there are a lot of small profits, and occasionaly larger losses. If the market is running stable and smooth then there will be more 20 pip wins, and fewer 60 pip loses. If the market gets chopy and volitile then the gains will shrink and there will be lots of breakeven trades and more 60 pip loses.
When you read results like this the thing to do is set them up on a demo account and test them yourself. Everyone likes to discuss their optimizations, but unless you can confirm them and like what you see, they're all pretty useless.
The whole proccess of optimizing, testing, and watching these EA's for yourself is important. Its fine to read somebody elses suggestions and testing results, but its very important to test them for yourself, to get to know them, like any freind or buisness associate they all have their strengths and weaknesses. If you can find one that tests well backwards and forwards, demo and real, great, but beware, if you dont truely know the system it may suprise you. I have yet to see any mechanical system that can run on its own without any human
intervention and support. Most do well in certain conditions, and not in others.
Be smart! Read the 
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