Week 3 Forex Autopilot Results
Posted by | Posted in Automated Forex Trading Systems, Forex Autopilot, Trading Results | Posted on 10-11-2008
Forex Autopilot started the week with its first real losing trade, making a loss of -234 pips on Monday. As I explained in another post, Forex Autopilot closes losing trades at month end in order to have a “fresh start” in the new month. The above trade was still open at month end and closed accordingly. After that the system has made 16 winning trades of +20 pips in a row, resulting in a net profit of +86 pips for the week. Here are the current totals:
Week 1: +409 pips
Week 2: +100 pips
Week 3: +86 pips
Total: +595 pips
In the 3 weeks that Forex Autopilot has been running in my demo account, it has executed 47 trades, of which 44 were winners and only 2 were losers, including a trade that I closed manually when I switched accounts. This is a success rate of 95.7%. Considering the current worldwide economic volatility, I am very pleased with these results so far. It seems that many users are seeing excellent results with the new Forex Autopilot that was released in September.
Over the last 5 days I’ve spent a lot of time learning the Forex Avenger and 10 Minute Forex Wealth Builder trading systems and I’m going to start trading with both of these systems today in a seperate demo account, dedicated for manual trading systems. The two systems are completely different, but I’m very impressed with both so far and will post full reviews of them over the next couple of days.
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Hi,
Thanksn for your reviews. I think I’m going to pass on Forex Autopilot because of tthe high drawdown, but I’m looking forward to reading your other rewiews!
Hi Joe,
Thanks for your comments.
I must say, it’s amazing how often a losing trade ends up in profit with this system, but I agree that the drawdown is a concern. This is why I think that joining a service like Fap Winner could be essential, because the more information you can get about this system before you do live trading the better.
Using a fixed stop loss is an option, but I would have to do some back testing to see how it affects the profitability. More on this later.
Chris