You may remember my previous posts about the Forex Autopilot System and the 8 trading robots included in the package. I was in the process of testing all eight of them and I got as far as the second expert advisor called “StrongTrendAdvisor.” However, to my surprise the people behind Forex Autopilot decided to scrap all the previous expert advisors! I just found out about this sort of by accident when I decided to visit the members download section. To my surprise the zip file they distributed before now contains only one expert advisor. Unfortunately I did not receive any e-mail regarding this change so for me that’s a sign of poor customer service. All new customers will be downloading this new expert advisor but the old ones will have no clue unless they just happen to browse on by the download section and download the robots zip file again, and realistically how likely is it that they will do that . I won’t speculate as to why the dumped the former expert advisors but I kind have a hunch. Anyways, since there is no way you can own the previous trading robots I’m going to stop releasing demo & forward testing results for them and I will instead concentrade on testing the new trading robot.
On a first impression basis the new advisor seems impressive. At least when compared to the “ProfitStream” advisor I tested (which was a martingale type system) it is way better. It has a smaller drawdown, it doesn’t trade like mad, it seems to generate a very smooth equity/balance curve, etc. When I tested it with the MetaTrader 4 StrategyTester it showed some very impressive results. I took it upon myself to optimize the settings and using one of the optimized settings I was able to achieve some pretty impressive results. Keep in mind this was all in a backtesting environment. The real test will come when I put it on a demo account.One striking feature about this new expert advisor is that it trades on the M1 chart (1 minute time frame)
For the curious folk here is my backtesting performance chart (click the image below) :
For this I used settings obtained using the MetaTrader 4 Strategy Tester optimization function.
Here are the settings used:
The maximal drawdown using these settings was 28.46% – acceptable to me. You can achieve even better results if you fine tune the settings but the drawdown will be even greater.
I should also mention that my starting balance was $1000. The reason I used such a small deposit is because I wanted to get an idea of how it would perform on a “tiny” live account (what I usually do with trading robots that show promising results).
Anyways, that does it for this introduction to the new Forex Autopilot expert advisor. Stay tuned to this or my forex blog as I will be releasing performance results later on. Just give me about two weeks to see how the robot performs in a demo environment.
Until next time,