Forex Autopilot Performance Update for April 06 2008

It has been nearly a month and a few days since I started testing the new Forex Autopilot expert advisor (forex trading robot for those of you new to the Forex game), and even though I believe it is still premature to release any performance results as it is a bit too early to tell I’ve received a lot of requests from people who are curious about forex autopilot’s performance. So I decided to placate them and release this very preliminary performance update. I believe more demo testing is still necessary before I can decide whether I would recommend this product or not. So far things are looking good, the trading robot is in profit on both my demo accounts.

Here is the detailed performance statement for my North Finance demo account:

forex_autopilot-nf-04-06-08.pdf

Here is the detailed performance statement for my InterbankFX demo account:

forex_autopilot-ibfx-04-06-08.pdf

Settings for North Finance account (eur/usd – M1 chart):

Lots=0.10
LotsRiskReductor=1.0
MaxOrders=1
MaxLots=100
aaa=13
bbb=14
TakeProfit=20
StopLoss=0.0
TrailingStop=50
SpanGator=0.5
SlipPage=3
SafetyGapDemarker=0.2
SafetyGapWPR=0.0

*These are the default settings*

Settings for InterbankFX account (eur/usd – M1 chart):

Lots=0.10
LotsRiskReductor=1.0
MaxOrders=1
MaxLots=100
aaa=9
bbb=10
TakeProfit=25
StopLoss=0.0
TrailingStop=20
SpanGator=0.5
SlipPage=3
SafetyGapDemarker=0.2
SafetyGapWPR=0.0

*These are my own custom settings arrived at by extensive optimization using MT4’s Strategy Tester*

North Finance Demo Account Performance:

Starting balance: $5000
Ending balance: $5415
Profit: +$415

InterbankFX Demo Account Performance:

Starting balance: $3000
Ending balance: $3449
Profit: +$449

As you can see the Forex Autopilot expert advisor performed quite well on both accounts. I think this new trading robot is by far a lot better than any of the previous package of 8 offered by the forex autopilot people.

One thing that you should be aware of is that if you have open trades that have yet to reach their profit targets the forex autopilot expert advisor will close them on the first day of a new month. Another thing is that although the forex autopilot support guys say that this expert advisor has a magic number and can supposedly work with other trading robots running on the account I found out that if you open up manual trades the robot treats them as if they were its own so if you’re going to run this expert advisor it’s best that you dedicate an account just for it and NOT run any other trading robots or open up any manual trades.

Well that about does it for this performance update. I will continue to demo test this trading robot for maybe one more month and then I will proceed to give it a try on a live account; yep, that’s real money! I will most likely write my final review in about 2 to 4 weeks time.

Oh, by the way, if you already purchased this product and you’d like to share your performance results and experience I’d recommend you visit my forum and post in the following thread:

http://www.moneyguruforum.com/expert-advisors-metatrader-4/6089-forex-autopilot-system.html

I keep a close eye on that forum so drop by and say hello.

Cheers,
Alan