Comments on: Week 1 Forex Autopilot and Forex Funnel Results http://fxtradingreviews.com/2008/10/26/week-1-forex-autopilot-and-forex-funnel/ Real Reviews of Forex Trading Systems Mon, 04 Jan 2010 20:04:25 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Chris http://fxtradingreviews.com/2008/10/26/week-1-forex-autopilot-and-forex-funnel/comment-page-1/#comment-111 Chris Wed, 03 Dec 2008 09:56:40 +0000 http://fxtradingreviews.com/?p=254#comment-111 Clinton – Thanks for the comment. This is an old post that I made after just purchasing Forex Funnel. There’s been many updates since then and my final review can be found here: http://fxtradingreviews.com/forex-funnel-review/. You’ll notice that I talk about how it uses Martingale in the review. Clinton – Thanks for the comment. This is an old post that I made after just purchasing Forex Funnel. There’s been many updates since then and my final review can be found here: http://fxtradingreviews.com/forex-funnel-review/. You’ll notice that I talk about how it uses Martingale in the review.

]]> By: Clinton http://fxtradingreviews.com/2008/10/26/week-1-forex-autopilot-and-forex-funnel/comment-page-1/#comment-108 Clinton Wed, 03 Dec 2008 05:37:55 +0000 http://fxtradingreviews.com/?p=254#comment-108 The Forex Funnel uses a Martingale system which we Las Vegas types know is a total losing system. But if you must play the martingale use a GRAND Martingale. In the Grand you double and add a bet instead of just doubling. In this way you win each bet not just the first one. But like I said it's a losing proposition in the long run. The Forex Funnel uses a Martingale system which we Las Vegas types know is a total losing system. But if you must play the martingale use a GRAND Martingale. In the Grand you double and add a bet instead of just doubling. In this way you win each bet not just the first one.

But like I said it’s a losing proposition in the long run.

]]> By: Chris http://fxtradingreviews.com/2008/10/26/week-1-forex-autopilot-and-forex-funnel/comment-page-1/#comment-10 Chris Thu, 30 Oct 2008 14:43:09 +0000 http://fxtradingreviews.com/?p=254#comment-10 Hi Jazzen, You are correct, Forex Funnel uses a "double up" strategy that is widely known as the Martingale strategy. You can see a good explanation of the Martingale strategy here: http://www.investopedia.com/articles/forex/06/martingale.asp There is no way to configure the system to limit the number of trades that are opened. The only inputs the system has is the size of the starting lots (0.01 in my case) and the days on which to trade (you can tell it not to trade on specific days if you want to). To be honest, limiting the number of Martingale trades would not really make sense, because this is exactly what makes this strategy successful, as risky as it sounds. If the number of trades were limited, the system would probably make a large number of losses. So far I believe that the only way to trade successfully with Forex Funnel is with a LOT of starting capital and the highest leverage you can find. In the manual they recommend starting with 0.01 lots when you have $2500 capital on a 200:1 leverage account. Personally I wouldn't try the above parameters with less than $10,000 starting capital. Perhaps at a later date we can do a case study to see what the optimal parameters are. Please see my full Forex Funnel review for more information: http://fxtradingreviews.com/forex-funnel-review/ Forex Autopilot on the other hand is very customizable and has many configuration parameters. I will make a seperate blog post about this a bit later. Let me know if you have any other questions. Chris Hi Jazzen,

You are correct, Forex Funnel uses a “double up” strategy that is widely known as the Martingale strategy. You can see a good explanation of the Martingale strategy here:

http://www.investopedia.com/articles/forex/06/martingale.asp

There is no way to configure the system to limit the number of trades that are opened. The only inputs the system has is the size of the starting lots (0.01 in my case) and the days on which to trade (you can tell it not to trade on specific days if you want to).

To be honest, limiting the number of Martingale trades would not really make sense, because this is exactly what makes this strategy successful, as risky as it sounds. If the number of trades were limited, the system would probably make a large number of losses.

So far I believe that the only way to trade successfully with Forex Funnel is with a LOT of starting capital and the highest leverage you can find. In the manual they recommend starting with 0.01 lots when you have $2500 capital on a 200:1 leverage account. Personally I wouldn’t try the above parameters with less than $10,000 starting capital. Perhaps at a later date we can do a case study to see what the optimal parameters are.

Please see my full Forex Funnel review for more information:
http://fxtradingreviews.com/forex-funnel-review/

Forex Autopilot on the other hand is very customizable and has many configuration parameters. I will make a seperate blog post about this a bit later.

Let me know if you have any other questions.

Chris

]]> By: Jazzen http://fxtradingreviews.com/2008/10/26/week-1-forex-autopilot-and-forex-funnel/comment-page-1/#comment-8 Jazzen Thu, 30 Oct 2008 01:04:45 +0000 http://fxtradingreviews.com/?p=254#comment-8 Hi Chris, Thank you for a very informative site and another great post. I have a couple of questions for you: - If I understand you correctly the Forex Funnel systems makes use of a type of Double Up strategy? If so can you configure the system to limit the number of "double ups" to trade of will it just carry on until a successful trade is made? - Does any of these systems offer any configurable setting on different strategies to follow, or are the strategies fixed ? Jazzen Hi Chris,

Thank you for a very informative site and another great post. I have a couple of questions for you:

- If I understand you correctly the Forex Funnel systems makes use of a type of Double Up strategy? If so can you configure the system to limit the number of “double ups” to trade of will it just carry on until a successful trade is made?

- Does any of these systems offer any configurable setting on different strategies to follow, or are the strategies fixed ?

Jazzen

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