I've been running the new Forex Autopilot EA on a demo account since 9/4 with default settings. On 9/8 I changed the max trades setting to "2". Here are my current results.
As you can see it closed an amazing 660 pips between 9/4 and 9/11; however, floating losses total 424 pip. Although the net is still a very respective positive (+236 pips) I still feel that trading without a stop loss is a scary venture. I for one am not convinced that this EA is totally "fixed". I am going to continue to run this EA on the demo account and will update you when I have more info.
I have decided to take some time away from Forex trading. I've been trading since the beginning of the year and have found Forex to be an extremely difficult market. I have made nice profits, only to give them back to the market just as quickly as they came. I have decided to go back to my first love, stock trading.
I am testing a new (in '08) service called The Wizard. The site offers specific entry and exit signals for stocks, futures, ETF's, and even Forex. The site is more of a tool than a stock picking site. Their proprietary trend indicators pick the direction of specific industries and then recommend stocks within those industries. The idea is always to trade with the trend. As far as I can tell the results have been great. This week's results are always posted on the homepage. The site was created by Gene Stunkel, who from a quick Google search appears to be a legitimate trader/speaker/banker/real estate investor. You pay a monthly fee for each product. The stock site is $99/month, so you probably want to have at least $5,000 to trade with to use this product. I will begin picking stocks this week and will update my blog periodically. I would love to hear if anybody has used this service and if so, what the results were. I have not found much in the way of reviews as this was launched in spring of '08.
Til next time,
Craig
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3 comments:
Regarding FAP and FX trading in general... you must use stop/loss and trailing stop with a sensible take profit setting. Otherwise, you are inviting margin calls. This applies to FX trading in general; not just to the usage of EAs. And no amount of technical analysis or indicator usage can predict the future. So no amount of tweaking will "fix" anything. You can only trade with caution utilizing all the safety tools built into the trading platform by using proper philosophy of investment. Clearly, use of Moving Average with other indicators greatly improved FAP with their latest version but you must use stop/loss and trailing stop.
long time since 9/11, and turns out to be a very bad time to be testing The Wizard as a stock picking service as we all know now, unless you can sell them short which I think was pretty much banned everywhere.
I am more interested in the Forex side of the program and shall continue my research, thank for posting, John
Craig, how are your results in trying out the Wizard? I'm seriously considering it. Please let us know how your faired with it. Thanks
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