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:
Lots 0.1
LotsRiskReductor 1
MaxOrders 1
MaxLots 100
aaa 9
bbb 10
TakeProfit 25
StopLoss 0
TrailingStop 20
SpanGator 0.5
SlipPage 3
SafetyGapDemarker 0.2
SafetyGapWPR 0
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,
Alan
Very nice post, indeed, Alan. I have been testing the older auto pilot robots myself and I too found the results quite “over-promising”. I have been using a demo account of 2000 USD to see how everything goes and, without touching anything of my initial balance, the robot (ProfitStreamAdvisor) is yielding a new balance of 2,323 after only 26 hours working non-stop.
Perhaps you could provide some feedback here ’cause I don’t want to get too excited about possible unrealistic results. I’m gonna be testing the other advisors on different pairs during the next say 2 weeks just to experiment with new alternatives. But right after that I’m getting the new version of auto pilot to do some more testing.
Thanks,
Ivan.
First off thanks for visiting my blog 🙂
In my testing I found the ProfitStreamAdvisor to be VERY dangerous. It works based on the Martingale gambling principle so it is very risky. It make money to start with but later on when the market turns against you it will just keep on pilling up losing trades until your account gets a margin call – it will wipe it out!
In my book any martingale system is garbage and I would not recommend any. If anyone tells you they have a “safe” martingale based system run in the other direction as fast as you can.
My advice Ivan is to stop using the ProfitStreamAdvisor and don’t, just don’t let it loose on real money.
Try the new forex autopilot expert advisor and once you have it come and join me and other users at my forum over here:
http://www.moneyguruforum.com/expert-advisors-metatrader-4/6089-forex-autopilot-system.html
We are actively involved in testing the latest version of the forex autopilot system and hopefully you can contribute do the discussion and testing as well.
Hope to see you there.
Cheers,
Alan
Hi Alan, nice hearing from you, thanks for your reply… Also thanks for inviting me to your new forum. Ok, I’m writing this because I was taking a look at your backtests using -I believe- the new forex autopilot robot (a couple of pdf files named something like “forex_autopilot-nf-04-06-08_demo_testing” and your results there are… not spectacular, even though I could see you used 2 different accounts, 3 and 5k USD to run the tests (any explanations on that other than it is a new robot that needs a lot of testing? =)).
So my point is this: I did some testing in real time using the old robot ProfitStreamAdvisor and the results are at least as good as yours regardless I got plenty of losing trades, in only 72 hours or so. Even if I plan on switching to the new version of FAPS as you suggest, I will continue to test the older robots until next week.
Please don’t think I’m being stubborn here, I’ll do it just to see what happens. You deemed ProfitStreamAdvisor a martingale robot that trades like mad until your account gets a margin call, but I got this crazy idea: What if the problem is that after several days trading like crazy the robot or its algorithms or whatever get corrupt and that’s what causing it to stop generating winning trades? I hope it’s just my idea because I really am exciting about getting the new Autopilot and using it with real
money!
By the way, the robot has made aroung 600 USD on my demo account so far, 72 hrs-period sharp. I have restarted the computer to refresh my OS every day since last Tuesday. Thanks again, my friend.
Ivan.
Well Ivan, I too had profitable results with the ProfitStreamAdvisor. However, eventually the market went against my position and thanks to the martingale nature of this EA it kept on adding bigger and bigger positions on my account until it eventually blew up the account. This is what I believe will most likely happen to your account as well. The only way around it I suppose is if you always keep an eye on it and manually close all the trades in case the market goes heavily against you.
At least you have a working program. The zip file on my member’s page is corrupt and support will not send me a valid zip file!
I bought this on July 12. It is not August 1st (Japan) and I cannot do anything at all!
Omar, I feel your pain. For some stupid reason when you dl the file with IE or Firefox the download cuts off right in the middle. I tried to redownload it several times and often it cuts off if you dl the zip archive for example – in other words the size has a role to play.
I suggest getting a download manager like getright and use that to download the zip file because it can do file resume. Eventually as it resumes it should download the whole thing.
It is rather silly that you have to do this and the FAP people should fix their crappy web hosting limitation. I don’t know what causes it as it doesn’t make any sense at all. I bet it’s their web host limiting bandwidth or the number of max downloads or something like that.
Hi guys, how is trading going?
As a response to Omar, now that I’m using the new FAPS EA I had to go all the way from downloading stuff (not easy the first time I tried) so I downloaded all the files independently to at least have the certainty that something wrong was going on with the ZIP file, and of course, get my EAs! I can’t see a reason why you are not able to download every file right, man; you don’t have to stick the the crappy compressed file, I mean, there is the other way to do it. Anyway, right now I am not only working with FAP (demo account so far), but I have also got FAPTS and it’s like day and night my friends! The Trading Strategies by Charles Floyd (Forex Winner) are working great for me and I will be pleased to let you know about my results next week or so but so far I have been able to get through the huge end of the month DD by using some of the advices I was given at the FAPUG… I’ll stay in touch and thanks Alan for the space and your usual patience!!!
You’re very much welcome Ivan! Thanks for visiting my blog and good luck with FAPS!
Alan
🙂
Sir,
I have seen one Expert Advisor is working with the Following setting.
Take Profit 10
Step 30
Slippage 3
Comm Profir stream advisor
Which expert advisor is running with this setting
Thanks
With regards
A.L.visvanadhan