FAQ about FAP

[^eagle^]

If everyone places a Q and A up we could compile quite a list for Alan to Sticky. Please, I ask that everyone post one Q and A at a minimum. I have cvommitted to one a day.We have grown so much over the past month.

The questions are coming hard and heavy

So I thought it might be a good idea to build a FAQ for FAP.

I'll start with the settings.

As the list grows maybe somone could compile them into a single post. Right now I am going to post Good money management q and a

Q: How much money should I trade with FAP

A: This can depend on many factors. How much is in your account, what type of account you have, How many trades you open at one time, How many pairs you open at one time and your risk tolerance.

As a beginner a good rule of thumb is to risk no more than 1% of your account balance. What that means is your take profit should be 1% of your account balance.

Example: I start with 1000usd in my account which is rather low to be start. !% of 1000usd is $!0. To keep things simple I only open one trade at a time. This will keep me in the game for a long time. Higher amounts can blow my account. As I get ta better understanding I can raise my risk amount. I personally try to stay below 5%.

The type of account will determine your lots size. The easiest way to perform money management is to use the Lot Risk Reductor. Set your lots to zero and set the lot risk reductor to 1. This will adjust your lot size to fit this one percent rule. When you become familiar with FAP and MT4 you can increase your risk as much or as little as you like.

Just remember that more risk means more reward but also means bigger losses and draw downs.

[^eagle^]

Q: When I put FAP on the m1 chartr it comes up that my key is not valid. What's wrong?

A: well it is probably one of two things. Either you function calls are not checked or your FAP is noit activated/you lost your key.

If It says your expert ID=0 try the following:

On MT4 platform go to tools--options---expert advisors
Check all the boxes on the left and uncheck all the boxes on the right.
click ok
remove FAP from the chart and close MT$ platform
Restart MT4 platform
drag FAP to chart
open FAP to inputs
set all desired inputs and key
click save
Save under a memorable name
CLICK OK
CLICK OK

You are all set! If you ever need thos einouts again just click "load" instead nof save. It s great place to store yoyur key


If your expert ID= anything but zero and yoiu lost your key:

copy number after "="
go to FAP memberzone page
Scroll down to FAP activation box
Paste expert ID number in box
click submit
Copy Key on page that pops up
Return to platform
drag FAP to chart
Place key in key input box along with settings
Click save
save under memorable name
click ok
click ok again.
Fap should begin trading

[Craig BC]

I have a few questions about the FAP settings

Q1 Stoptime, does it start after the end of the last trade or is it the time from the start of the last trade?

Q2. Do manual trades affect the Maximum trades? Or does FAP ignore the manual trades and continue on as if there had been no manual trades.

Q3 I sometimes flip from one timeframe to another(M1, to M5 to M30 and back again) to see what the trend is. After changing say from M30 to M5 does the autopilot calculate from the time I changed or does it use previous data to calculate whether to start a new trade or not. I'm wondering if I am messing things up by changing timeframes on the fly.

I hope this makes sense to you gurus out there.

[Earl]

I have a few questions about the FAP settings

Q1 Stoptime, does it start after the end of the last trade or is it the time from the start of the last trade?

Q2. Do manual trades affect the Maximum trades? Or does FAP ignore the manual trades and continue on as if there had been no manual trades.

Q3 I sometimes flip from one timeframe to another(M1, to M5 to M30 and back again) to see what the trend is. After changing say from M30 to M5 does the autopilot calculate from the time I changed or does it use previous data to calculate whether to start a new trade or not. I'm wondering if I am messing things up by changing timeframes on the fly.

I hope this makes sense to you gurus out there.

Q1 stoptime is the time between trades

Q2 No manual trades don't effect Faps Maximum trades but it does mess up the flow.

Q3 Switcging time frame my slow faps down...to play it safe just open another window I have 2 eurusd windows opened in meta...M5 I have faps... and the M1 I look at all my indicators and crap....


hope that helps

[alan]

keep on building the FAQ guys as I can always setup a dedicated FAQ section which will be made "read only" so newbies can read but not post.

[^eagle^]

Q: How do I run the strategy tester on the MT4 platform?

A: This link is the most comprehensive directions on how to run MT4 strategy tester.

http://www.forexfactory.com/showthread.php?t=5966

[^eagle^]

Q; Help! I lost my link to the member's area of FAP. I cannot activate my FAP and get my key.
A: /memberszone125.php?email=youremailscreenname@youre mail.com&name=yourfirstname%20yourlastname&Phone=x xx-xxx-xxxx&ip=xxx.xxx.xxx.xxx&site=submit

Try this

Fill in your email
your first name
your last name
your phone number
your PC's IP adress
Then add www. forexautopilot.com to the beginning of the string

Fill these in in the link above and see if that works.

If it does bookmark this site and/or email the link to yourself and keep it stored somewhere other than your computer's hardrive in case it crashes or you get a new one.

[koeiseun]

wink wink - it is actually a lot less secure than everybody thinks.

[lorddave]

wink wink - it is actually a lot less secure than everybody thinks.


LOL! You are right... Hrmmm probably shouldn't post the way around that site... because stealing is bad and all...... /whistles...

[Silent0ne]

Q- Regarding stop time, is the number input in minutes or in bars?

Q- Same question as above except regarding Period MA.



Think that's all for now, thanks.

[Craig BC]

Another question about LRR

When you use it, say at 1 for 1%
Is that 1% per trade or 1% for all the trades you have open
for example, if you have $1000 balance, and you have your LRR set to 1and your max order at 5
Will it trade with 1% total or 5%

[Simmo]

Another question about LRR

When you use it, say at 1 for 1%
Is that 1% per trade or 1% for all the trades you have open
for example, if you have $1000 balance, and you have your LRR set to 1and your max order at 5
Will it trade with 1% total or 5%

I understood it to mean 1% of available margin, so five trades totalling 1%.
I may be wrong so I'm sure someone will come along and put me right.:confused:

[^eagle^]

Q- Regarding stop time, is the number input in minutes or in bars?

Q- Same question as above except regarding Period MA.



Think that's all for now, thanks.

I believe stop time is the number of bars however I have not tested this on m5


I know for sure that the period moving averages is the number of bars.

[^eagle^]

Another question about LRR

When you use it, say at 1 for 1%
Is that 1% per trade or 1% for all the trades you have open
for example, if you have $1000 balance, and you have your LRR set to 1and your max order at 5
Will it trade with 1% total or 5%



As each trade is opened FAP will calculate 1% of your trade based on available margin.

Example
FAP opens first trade at .1 and it goes down -1000usd
so we have 10000-1000=9000 available margin
Next trade will be opened at =.09 lots

So Lots opened will slightly decrease as each open trade goes into the negative.

[wishiwasrich]

Hi Eagle,
I am interested in manual trading alongside FAPS. what indicators are the best to use for manual trades? Or what indicators play off FAPs trading? thanks

[Silent0ne]

Q- Regarding the Max Orders Setting in the EA parameters: I currently have a EURJPY trade that is 868 pips to the BAD and set my max orders to 0 on that chart, because I want to start the new month with only the EURUSD so I can focus on more manual trading with my free time.

(I get shiny object syndrome and action happy with multiple charts running and this usually leads to poor decisions.)

Well FAP just opened two trades consecutively (one closed then the other opened) and my max orders is set at 0 and the -868 pip trade is a FAP trade.

So if max orders is set at 0, does that mean unlimited, or 0? it hasn't been trading until just now, and I havent changed anything.

[lorddave]

pretty sure it means unlimited... DANGER DANGER!

[^eagle^]

Hi Eagle,
I am interested in manual trading alongside FAPS. what indicators are the best to use for manual trades? Or what indicators play off FAPs trading? thanks

I honestly am not very good at manual trading. I am still to emotional. that is why I have FAP.

So my answers would have little experience to back them up.

The most profitable strategies from what I have seen from the most successful traders involve trendlines and fibonacci patterns.

You draw in trendlines on charts and look for breakouts and fibonacci retracements..

Right now I have been focussed on FAPS and other activities so I have not practiced so much manual.

[torreseemee]

What does it mean?
I got this from my experts column:

2008.11.21 01:17:40 ForexAutoPilot EURUSD.,M1: Alligator Jaw error = 4066; desc = requested history data in update state
please help ....:(

[koeiseun]

I have a question on the FAP indicators.

The final confirmation to buy or sell is supposed to be the alligator. Why in so many cases does the alligator show BUY but FAP perform a SELL?

[^eagle^]

I have a question on the FAP indicators.

The final confirmation to buy or sell is supposed to be the alligator. Why in so many cases does the alligator show BUY but FAP perform a SELL?

I'm not sure but what i have noticed is that the jaw line often starts to become "jalloped " with the other two indicating a trend reversal.


Maybe its anticipating a trend reversal based on this movement.

Not sure but nI have wondered about that myself and I have seen the jaw line slightly move towards the other two when a trade occurs.

[^eagle^]

Q: I have a five digit broker. How do I adjust my settings so that FAP can perform on this broker's paltform?

A: You have to add a zero to the following inputs
Take profit
Stoploss
Trailingstop
Slippage

These settings are measured in pips so if you have a five digit broker Place a zero after your desired settings so that FAP will understand the input.

example:
Four digit broker=eur/usd 1.3001
Five digit broker=eur/usd 1.30001

[mamat]

hi pls can someone help me ? have been trying to purchase fap for two days now could not go thru the system is saying the request can not be done now

[^eagle^]

Q: How much risk should I take when using FAP? Is there a money management formula I could use?

A: The formula for fixed lot,
Low risk : initial deposit > 780 pips of total lots trade
Medium risk : initial deposit > 400 pips
High risk : Initial Deposit > 300 pips
The lot number can be increased gradually once the account increase, but stick to one of the formula as above.

The formula for auto lot management,
Low risk : LRR=1; max order= 1 or 2;
Medium risk:
1. LRR = 1; max order = 3 to 5
2. LRR = 2; max order = 1 to 3
3. LRR = 3; max order = 1 to 2
High Risk: LRR = 3 ; max order = 3 to 5
Suggest not to put LRR more than 3%, which is very volatile and will easily blow out the account.

(special thanks to oowee)

[mikesnik5]

please help me i dont know how to get this working and i dont know the terminologies and i dont know how this forum even works
my email is mikesnik555@aol.com and my yahoo messenger is mikesnik5
please talk to me

[Ken Long]

It is my impression from reading this that the new FAPS can run on different time frames, 1M, 5M. Can it also run on other pairs than the eurusd?

I dont have this EA. I have the new FAP T and an older Universal FAPS. Neither of which can run on different time frames, but the Universal can run on different pairs.

Also, the ma thats been added to FAPS. Does this run on the same time frame as the indicators, and how do they sample it to determine direction? The difference between the indicators and the ma's are one of the main problems when trying to optimize the FAPT.

[dimaxwine]

Hi, My FAP doesn't put T/P limit when open new position. I set T/P - 10 in the FAP settings. Is there any additional settings in the Metatrader?

Please help

Thanks

[dynamo]

Hi, My FAP doesn't put T/P limit when open new position. I set T/P - 10 in the FAP settings. Is there any additional settings in the Metatrader?

Please help

Thanks

I have had this issue too, would be interested if anyone knows if FAP holds a cache. I use FAP to create lots of little trades (generally 6 or 7 on a given currency pair). Recently I have had problems with certain pairs not setting a TP when a trade is opened. It happened originally on GBPUSD, and is now coming in on EURUSD.

I have emailed support about it, however have not had a response yet. Does anyone know where the trade cache for the EAs is stored. I would like to clear this when my EA trades are finished, as I also think it is retaining the information on some trades being open when I have manually overridden the TP, or closed out a trade.

I will post the response from FAP if I receive one, but for now, does anyone know the answer?

1. TP not being set on currency pairs
2. EA reatining cache of trades even after they are closed

[^eagle^]

I have had this issue too, would be interested if anyone knows if FAP holds a cache. I use FAP to create lots of little trades (generally 6 or 7 on a given currency pair). Recently I have had problems with certain pairs not setting a TP when a trade is opened. It happened originally on GBPUSD, and is now coming in on EURUSD.

I have emailed support about it, however have not had a response yet. Does anyone know where the trade cache for the EAs is stored. I would like to clear this when my EA trades are finished, as I also think it is retaining the information on some trades being open when I have manually overridden the TP, or closed out a trade.

I will post the response from FAP if I receive one, but for now, does anyone know the answer?

1. TP not being set on currency pairs
2. EA reatining cache of trades even after they are closed

I have experienced this too when allowing more than one trade. What happens is that sometimes a TP of one trade is exactly the same as the opening of another. This I believe is a bug in FAP because it was not really designed to take multiple trades. I have minimized this by increasing the stop time to 20 or greater. This allows 20 bars to pass before FAP considers another trade. ANd it makes it less likely the TP and the opens coincide. This also spreads your risk out so that you cover more of a trend. Your trades do not clump together at the same number putting you in danger of drawdown.

[^eagle^]

It is my impression from reading this that the new FAPS can run on different time frames, 1M, 5M. Can it also run on other pairs than the eurusd?

I dont have this EA. I have the new FAP T and an older Universal FAPS. Neither of which can run on different time frames, but the Universal can run on different pairs.

Also, the ma thats been added to FAPS. Does this run on the same time frame as the indicators, and how do they sample it to determine direction? The difference between the indicators and the ma's are one of the main problems when trying to optimize the FAPT.

The MA is attached to the daily chart. It looks for the underlying trend. I have found it neccessary to set it to 21 in this current market.

[^eagle^]

It is my impression from reading this that the new FAPS can run on different time frames, 1M, 5M. Can it also run on other pairs than the eurusd?

I dont have this EA. I have the new FAP T and an older Universal FAPS. Neither of which can run on different time frames, but the Universal can run on different pairs.

Also, the ma thats been added to FAPS. Does this run on the same time frame as the indicators, and how do they sample it to determine direction? The difference between the indicators and the ma's are one of the main problems when trying to optimize the FAPT.

The MA is attached to the daily chart. It looks for the underlying trend. I have found it neccessary to set it to 21 in this current market.

FAP can run on any pair in any timeframe unlike FAPturbo. However spreads can make a big differnece in how the EA performs. Many peolpe have had good results with usd/chf, gpb/usd,

I have had poor results with most anyhting else.

[dynamo]

I have experienced this too when allowing more than one trade. What happens is that sometimes a TP of one trade is exactly the same as the opening of another. This I believe is a bug in FAP because it was not really designed to take multiple trades. I have minimized this by increasing the stop time to 20 or greater. This allows 20 bars to pass before FAP considers another trade. ANd it makes it less likely the TP and the opens coincide. This also spreads your risk out so that you cover more of a trend. Your trades do not clump together at the same number putting you in danger of drawdown.

I tried the change, but no difference, I am having to watch the system and manually enter my TP, not exactly ideal. I guess I will have to wait for support to get back to me eventually. There is only one open trade on my system at the moment, and it still didn't give it a TP.

[glidarn]

I tried the change, but no difference, I am having to watch the system and manually enter my TP, not exactly ideal. I guess I will have to wait for support to get back to me eventually. There is only one open trade on my system at the moment, and it still didn't give it a TP.

I have the same problem :confused:

No T/P set when order created.

If anyone finds any solution please post it here.

br
glidarn

[torreseemee]

I have the same problem :confused:

No T/P set when order created.

If anyone finds any solution please post it here.

br
glidarn

i think this happen due to the connection the server when order is made and FAP cannot modify the order to set the TP

[CooperRichardson]

A futures contract in finance involves a standardized contract that is traded on a futures exchange. This is to do with buying or selling a particular commodity with a quality that is standardized such as commercial or government paper or bonds, financial instruments, baskets of corporate equity or stock indices and foreign currencies.

[Petar_Serbia]

PLzzzz help :(
I have Forex Autopilot since 1 day, and i see in the left corrner smiley,("it s works") , but i wait to robbot open any trade but robbot didnt open any trade :((:(( PLz help, i set all on the robbot but robbot still didnt open any trade yet :( 24 h ? Whyyy ??? plz answerrr

[Quinn]

trading dont happen during weekends.

[rockie88]

Guys i have this problem i keep on getting this error on my experts, alligator jaw error =133; desc = trade is disabled i dont understand whats happenning in my demo acc of 500usd in 4xp working normaly but in my live account 500usd 4xp i keep on receiving this error i dont think the account is disable coz i can trade manually. Pls. help TIA:confused:

[schadha]

Dear sir

I am a new member and requested to purchase latest version. I got FAP AUTO PILOT where as now I understand FAP TURBO is latest and best. So I want to upgrade it and willing to pay the charges.please suggest how to do it.

Regarding settings--I have combined mt4 with Fap auto pilot I have account with DUKASCOPY so how to attached it with there platform.

Further do you manage the accounts also? Is there any service to get
Signals as FAP require deep study. I want to do fx trading but can not devote much time and also do not have much experienced. Is there is any possibility If some experienced member can handle/help my account on profit sharing basis? .Please email me at live.life.1@hotmail.com
regards
s.chadha

[michealjarry]

The type of account will determine your lots size. The easiest way to perform money management is to use the Lot Risk Reductor. Set your lots to zero and set the lot risk reductor to 1. This will adjust your lot size to fit this one percent rule. When you become familiar with FAP and MT4 you can increase your risk as much or as little as you like.
Just remember that more risk means more reward but also means bigger losses and draw downs

[victor]

I have had this issue too, would be interested if anyone knows if FAP holds a cache. I use FAP to create lots of little trades (generally 6 or 7 on a given currency pair). Recently I have had problems with certain pairs not setting a TP when a trade is opened. It happened originally on GBPUSD, and is now coming in on EURUSD.

I have emailed support about it, however have not had a response yet. Does anyone know where the trade cache for the EAs is stored. I would like to clear this when my EA trades are finished, as I also think it is retaining the information on some trades being open when I have manually overridden the TP, or closed out a trade.

I will post the response from FAP if I receive one, but for now, does anyone know the answer?

1. TP not being set on currency pairs
2. EA reatining cache of trades even after they are closed

I experienced this as well with FAPS. I suspect it might not be from the EA's side but rather from your brokers side. For example: my broker (FXOpen) only allows TP and SL of at least a difference of 10 pips... I had set FAPS to take profit at 8 pips to which it would still open trades but would wouldnt set a TP. I then changed it to a TP of 12 pips and it has been working fine. Hope this helps...

Victor
Forex Newbie