Greetings everyone, and especially fellow Forex traders. You know, I really love Forex trading robots (aka Expert Advisors). There are numerous benefits that automated trading systems have to offer, but I think the number one benefit for me is that they take the frail human emotions out of the trading equation. There are of course other more obvious benefits but I shan’t get into that in this posting. I’m constantly on the lookout for profitable mechanical trading systems, and while working on something for this blog one of my google AdSense banners featured this tantalizing advertisement which for some reason sparked some impulse in me to scroll a bit more downwards to see the whole thing. Immediately after I read the “trade robots” my curiosity peaked. I immediately opened a new Firefox tab and typed in the URL at the bottom of the banner and investigated further. As you can see from the picture above, the name of the site is Forex AutoPilot.
The Forex AutoPilot System promo page has a very “marketing” feel to it, and I got the impression that it’s kind of hyped up in a sense. But, curiosity got the best of me and scrolled down even more. I came across the video testimonials which I found mildly amusing. The funniest one is where this “overhead stocker” guy says that “while you’re at home…these auto trading robots make moves on the STOCK markets for you.” Could such a monumental show of ignorance be proof that the video testimonial is genuine? Hmm, I wonder. Well, anyways, let’s move on. So I scroll down even more, going through each video testimonial and reading the marketing spiel, then I get to the bottom where the all important price is finally revealed.
Apparently the complete Forex Auto Pilot expert advisor package retails for $399.50, BUT they are giving 75% discounts which expire 3 days past Feb 14,2008. The funny thing is that today is the 17’th and I was still able to get the 75% off discount – so much for “hurry act now cause this offer expires blah blah blah.” So with the 75% discount my final price was around $99. I guess it’s not that much to pay to satisfy my curiosity. Maybe this one will prove to be a winner, then I can stop hunting through the forexfactory and forex-tsd forums for profitable expert advisors (EAs).
The package includes 8 Expert Advisors in total and two bonus items: a NFP (Non-Farm Payroll) trading robot & “Ultra Trend” indicator
Well folks, as of today I am officially starting the demo testing period. I will report my findings here on this blog as well as on my forex blog. Those of you who wish to join me in testing this “AutoPilot System” and can still get the package for $99 may wish to do so, or you can always wait for me to complete demo testing. In either case I am quite curious to see how these trade robots perform.
For more details please click this link.
To those of you who end up purchasing these commercial expert advisors, I would really appreciate it if you were to leave a comment or two letting me know how your testing is going or if you found some settings that are really profitable 🙂 – you can even e-mail me if you’d like (click the “about” link at the top).
Cheers, and many pips to you!
Alan
oh, i also stumbled over it a fw days ago.
the marketing on the site really sucks, with all those claimings those beautiful models ^^
why is there no performance? perhaps the customers are the upcoming backtesters with their live trading experience 🙂
anyways, would you send me your setup and the performance so far alan?? perhaps i’ll give it a try- yes, i’ll use mr. alans ref link.
regards
loool..yep the marketing and the testimonial videos aren’t too impressive.
Most of the EA’s are time-frame independent so that’s not too important here. As for the settings, I’m using the default settings. I only started testing the EA’s since yesterday so there isn’t much to report. I’ve been mainly struggling to do backtesting using MT4 but as you know it’s not that easy nor accurate.
But here are some trades opened by one advisor which according to the designers uses “a safe martingale technique”:
78601154 2008.02.17 21:28 balance Deposit 3 000.00
78601571 2008.02.17 23:00 buy 0.10 gbpusd 1.9575 0.0000 1.9610 2008.02.18 00:03 1.9586 0.00 0.00 0.00 11.00
78603164 2008.02.17 23:00 sell 0.10 gbpusd 1.9570 0.0000 1.9535 2008.02.18 01:10 1.9590 0.00 0.00 0.00 -20.00
78621404 2008.02.18 00:03 buy 0.10 gbpusd 1.9589 0.0000 1.9624 2008.02.18 00:27 1.9600 0.00 0.00 0.00 11.00
78624712 2008.02.18 00:27 buy 0.10 gbpusd 1.9604 0.0000 1.9639 2008.02.18 04:28 1.9615 0.00 0.00 0.00 11.00
78624812 2008.02.18 00:28 sell 0.20 gbpusd 1.9601 0.0000 1.9566 2008.02.18 01:10 1.9590 0.00 0.00 0.00 22.00
78631279 2008.02.18 01:10 sell 0.10 gbpusd 1.9585 0.0000 1.9550 2008.02.18 06:52 1.9606 0.00 0.00 0.00 -21.00
78644655 2008.02.18 04:29 buy 0.10 gbpusd 1.9620 0.0000 1.9655 2008.02.18 05:18 1.9632 0.00 0.00 0.00 12.00
78644696 2008.02.18 04:29 sell 0.20 gbpusd 1.9617 0.0000 1.9582 2008.02.18 06:52 1.9606 0.00 0.00 0.00 22.00
78649085 2008.02.18 05:18 buy 0.10 gbpusd 1.9638 0.0000 1.9673 2008.02.18 08:20 1.9525 0.00 0.00 0.00 -113.00
78657979 2008.02.18 06:38 buy 0.20 gbpusd 1.9607 0.0000 1.9642 2008.02.18 08:20 1.9525 0.00 0.00 0.00 -164.00
78658808 2008.02.18 06:52 sell 0.10 gbpusd 1.9604 0.0000 1.9569 2008.02.18 06:55 1.9593 0.00 0.00 0.00 11.00
78659493 2008.02.18 06:55 sell 0.10 gbpusd 1.9589 0.0000 1.9554 2008.02.18 07:01 1.9577 0.00 0.00 0.00 12.00
78661199 2008.02.18 07:01 sell 0.10 gbpusd 1.9575 0.0000 1.9540 2008.02.18 07:35 1.9564 0.00 0.00 0.00 11.00
78664325 2008.02.18 07:31 buy 0.40 gbpusd 1.9576 0.0000 1.9611 2008.02.18 08:20 1.9525 0.00 0.00 0.00 -204.00
78665664 2008.02.18 07:35 sell 0.10 gbpusd 1.9561 0.0000 1.9526 2008.02.18 07:53 1.9549 0.00 0.00 0.00 12.00
78671014 2008.02.18 07:53 sell 0.10 gbpusd 1.9543 0.0000 1.9508 2008.02.18 07:54 1.9532 0.00 0.00 0.00 11.00
78671078 2008.02.18 07:53 buy 0.80 gbpusd 1.9545 0.0000 1.9580 2008.02.18 08:20 1.9525 0.00 0.00 0.00 -160.00
78672096 2008.02.18 07:54 sell 0.10 gbpusd 1.9527 0.0000 1.9492 2008.02.18 07:59 1.9515 0.00 0.00 0.00 12.00
78674303 2008.02.18 07:59 buy 1.60 gbpusd 1.9514 0.0000 1.9549 2008.02.18 08:20 1.9525 0.00 0.00 0.00 176.00
78675749 2008.02.18 08:00 sell 0.10 gbpusd 1.9515 0.0000 1.9480 2008.02.18 08:49 1.9504 0.00 0.00 0.00 11.00
78680074 2008.02.18 08:20 buy 0.10 gbpusd 1.9527 0.0000 1.9562 2008.02.18 08:54 1.9508 0.00 0.00 0.00 -19.00
78689086 2008.02.18 08:49 sell 0.10 gbpusd 1.9500 0.0000 1.9465 2008.02.18 11:25 1.9489 0.00 0.00 0.00 11.00
78690241 2008.02.18 08:51 buy 0.20 gbpusd 1.9497 0.0000 1.9532 2008.02.18 08:54 1.9508 0.00 0.00 0.00 22.00
78691505 2008.02.18 08:54 buy 0.10 gbpusd 1.9514 0.0000 1.9549 2008.02.18 09:43 1.9525 0.00 0.00 0.00 11.00
78703298 2008.02.18 09:43 buy 0.10 gbpusd 1.9527 0.0000 1.9562 2008.02.18 13:18 1.9508 0.00 0.00 0.00 -19.00
78716379 2008.02.18 11:22 buy 0.20 gbpusd 1.9497 0.0000 1.9532 2008.02.18 13:18 1.9508 0.00 0.00 0.00 22.00
78717584 2008.02.18 11:25 sell 0.10 gbpusd 1.9483 0.0000 1.9448 2008.02.18 14:27 1.9502 0.00 0.00 0.00 -19.00
78738245 2008.02.18 13:19 buy 0.10 gbpusd 1.9510 0.0000 1.9545 2008.02.18 13:59 1.9521 0.00 0.00 0.00 11.00
78741715 2008.02.18 13:45 sell 0.20 gbpusd 1.9513 0.0000 1.9478 2008.02.18 14:27 1.9502 0.00 0.00 0.00 22.00
78743414 2008.02.18 13:59 buy 0.10 gbpusd 1.9526 0.0000 1.9561 2008.02.18 14:51 1.9506 0.00 0.00 0.00 -20.00
78746778 2008.02.18 14:27 sell 0.10 gbpusd 1.9499 0.0000 1.9464 2008.02.18 15:47 1.9518 0.00 0.00 0.00 -19.00
78747553 2008.02.18 14:34 buy 0.20 gbpusd 1.9495 0.0000 1.9530 2008.02.18 14:51 1.9506 0.00 0.00 0.00 22.00
78749288 2008.02.18 14:51 buy 0.10 gbpusd 1.9509 0.0000 1.9544 2008.02.18 15:24 1.9520 0.00 0.00 0.00 11.00
78754736 2008.02.18 15:24 buy 0.10 gbpusd 1.9526 0.0000 1.9561 2008.02.18 20:03 1.9506 0.00 0.00 0.00 -20.00
78756719 2008.02.18 15:34 sell 0.20 gbpusd 1.9529 0.0000 1.9494 2008.02.18 15:47 1.9518 0.00 0.00 0.00 22.00
78758255 2008.02.18 15:47 sell 0.10 gbpusd 1.9515 0.0000 1.9480 2008.02.18 17:03 1.9504 0.00 0.00 0.00 11.00
78766946 2008.02.18 17:04 sell 0.10 gbpusd 1.9501 0.0000 1.9466 2008.02.18 17:33 1.9490 0.00 0.00 0.00 11.00
78769179 2008.02.18 17:31 buy 0.20 gbpusd 1.9495 0.0000 1.9530 2008.02.18 20:03 1.9506 0.00 0.00 0.00 22.00
78769546 2008.02.18 17:34 sell 0.10 gbpusd 1.9487 0.0000 1.9452 2008.02.18 23:08 1.9507 0.00 0.00 -1.52 -20.00
78778684 2008.02.18 20:03 buy 0.10 gbpusd 1.9512 0.0000 1.9547 2008.02.18 20:59 1.9523 0.00 0.00 0.00 11.00
78780310 2008.02.18 20:36 sell 0.20 gbpusd 1.9518 0.0000 1.9483 2008.02.18 23:08 1.9507 0.00 0.00 -3.04 22.00
0.00 0.00 -4.56 -242.00
Closed Trade P/L: -246.56 Floating P/L: -23.72
This is running on an InterbankFX demo account.
Not really impressive really. I just hope these EAs aren’t some freely available ones from sites like ForexFactory but just renamed.
Still though I think it’s too early to judge.
I have another commercial EA package which I will be writing an article about. This one I’ve had a lot more success with and this is on a LIVE account.
My main mission for now is bringing the MT4 modeling quality as high as I can.
I’ve taken an image out of the instructions PDF documents for the EAs. It shows what to me looks like a backtest. I don’t know but I sure as hell wasn’t able to achieve that level of performance – no doubt it was due to poor modeling quality.
here is the image:
http://alansforexblog.com/wp-content/uploads/2008/02/forexpilot_gbp_backtest.JPG
BTW, here are the settings used for the EA whose results you see above:
Default starting 0.1 lot
TakeProfit = 10;
Step = 30; step to open additional orders
Slippage=3;
I changed only the slippage to 4.
Does anyone know where I can get tick-chart data for mt4 for free? I guess probably nowhere..I may have to buy it from ebay..hmm..
Ok, I got the modeling quality up to 90% but still the performance is crap. The account blows up eventually with the first EA (the one which supposedly uses “safe” lot doubling techniques).
*sigh*
safe lot doubling sounds like a crappish version of martingale.
alansky, contact me via IM.
msn, yim, skype, jabber – what you want.
just send me your details by mail. comment spamming is so uncomfortable.
i am very successful with a mt4 ea at the moment. it uses 170% martingale combined with a nearly loss-free strategy. the technique is really nice. it is focussing on usdjpy, eurusd, eurjpy and i also use it for gbpjy. it made me 17,75% from 02/14 up to now. 2,2% today.
stats also seen on fx271.com
OK Mat, I’ve sent you an e-mail – check it out. Hmmm..comment spamming eh. I’ve logged out of admin, so let’s see if it give me some troubles.