Early Forex Autopilot and Forex Funnel Trading Results
Posted by | Posted in Automated Forex Trading Systems, Forex Autopilot, Forex Funnel, Trading Results | Posted on 21-10-2008
It’s been roughly 2 full days now since I switched on Forex Autopilot and Forex Funnel in my Interbank FX demo account and I already see some interesting results.
Firstly, I made a mistake with the Forex Autopilot setup and only found out that the expert advisor was complaining about the activation key last night, so this system has only been trading for 24 hours now, while Forex Funnel has been trading for almost 48 hours.
In terms of trading results there is only good news so far. In the past 2 days I have made +410 pips net profit using these 2 systems. This consisted of 140 pips from Forex Autopilot and 270 pips from Forex Funnel.
Here are some more details of what has been happening with each system so far:
Forex Auto Pilot
Forex Autopilot has made 7 solid trades on the EURUSD over the past 24 hours, of which 100% were winners. Each trade made 20 pips, for a total of 140 pips profit. See the diagram below for some of its winning trades today.
Please Note: For these tests I am using the new version of Forex Autopilot that was released in September 2008.
The one thing I noticed immediately about Forex Autopilot is the fact that it does not use any stop losses. According to the manual it closes losing trades based on it’s internal indicators.
While this plays a part in the large percentage of winning trades, it can also result in large drawdowns, so this is something to look out for over the coming weeks when some losing trades start to appear.
Overall I am very impressed with Forex Autopilot’s performance so far and look forward to seeing how it does throughout the rest of the week.
Forex Funnel
I have mixed feelings about the Forex Funnel system so far. It has made 270 pips from the USDJPY from 24 trades in the last 48 hours, so the overall results are very good so far, but the trades just doesn’t make enough sense to me to be able to comment yet. One thing I do notice is that there seem to be some kind of Martingale strategy at play in this system, which could be very risky, but this will become more clear over the next couple of days as more trades are performed.
All in all I am very happy with my testing results so far and I hope to post some more positive results in another 2 or 3 days. In the meantime I am looking into some manual trading systems to test..more on that later.
Forex Autopilot or FAPS (not the other one by the same name).
I’ve been using it for sometime and have just now stopped. I get tired of huge drawdowns and losses to win very small amounts. The robot is iffy at best. I own it but I’ve stopped using it.
However, I did buy their latest FAP TURBO. It acts as two robots one long term (fap turbo) and one short term (scalper). Fap Turbo is a loser so far. Can be tweaked but I personally feel the indicators are poor so tweaking probably won’t help you make the robot a winner. It will enter poorly and let your account wait out the trend reversal. Poor.
The Scalper works very well and wins most all trades with very little draw down. I am still in the testing phase so far but I like it.
So overall you get a robot with two functions. One loser and one winner, you be the judge.
Hi Clinton,
In a sense I agree with your comments regarding Forex Autopilot. The robot has a very high success rate, but drawdowns can be big and the fact that no stop loss is implemented makes it risky. However, I disagree with your comment about Fap Turbo. Both the long term (fap turbo) and short term (scalper) strategies have been very profitable for me so far. I’ve received similar feedback from other users, so I’m not sure why you are seeing different results. See my latest Fap Turbo trading results here.
Thanks
Chris