Need Help!

[velociate]

Hey Alan, thanks for youre quick response..well i have it setup...now...whats next? Does it just buy and sell on its own? Do i have to go through new order or such? Balance is $3000 (which is what i started with).

I have the smiling face and it shows initialized at the bottom under the Experts Tab...how does actual trade happen..just need to know what to do next. Thanks!

[alan]

Hey Alan, thanks for youre quick response..well i have it setup...now...whats next? Does it just buy and sell on its own? Do i have to go through new order or such? Balance is $3000 (which is what i started with).

I have the smiling face and it shows initialized at the bottom under the Experts Tab...how does actual trade happen..just need to know what to do next. Thanks!

Yes, if you set it up exactly as in forex autopilot guide it should next start opening trades on its own. Trades should be opened this Sunday when the markets open (usually at 6pm EST). Also keep an eye on the Journal tab to see if there are any errors that FAPS reports.

Best of luck.

[velociate]

Yes, if you set it up exactly as in forex autopilot guide it should next start opening trades on its own. Trades should be opened this Sunday when the markets open (usually at 6pm EST). Also keep an eye on the Journal tab to see if there are any errors that FAPS reports.

Best of luck.

So i dont have to change any Stop Loss or Take Profit Values? Nothing at all? Just allow it to run? If this is so...in a brief analysis...would you say this is a profitable program? (Considering you dont have to take any action)

Please let me know.

[alan]

So i dont have to change any Stop Loss or Take Profit Values? Nothing at all? Just allow it to run? If this is so...in a brief analysis...would you say this is a profitable program? (Considering you dont have to take any action)

Please let me know.

That's right. I suggest you leave the stop loss and take profit alone for now until you become a more advanced user.

As for profitability, well, that's a more tricky question to answer. I guess it all depends on who you talk to. I've had really good results with the old version up until the EUR/USD halted and reversed it's long term uptrend. Then the new version got released, but with this one I haven't tested it for long enough to be able to form a solid and informed opinion.

My suggestion is to demo FAPS for a few months and form your own conclusion.

[velociate]

That's right. I suggest you leave the stop loss and take profit alone for now until you become a more advanced user.

As for profitability, well, that's a more tricky question to answer. I guess it all depends on who you talk to. I've had really good results with the old version up until the EUR/USD halted and reversed it's long term uptrend. Then the new version got released, but with this one I haven't tested it for long enough to be able to form a solid and informed opinion.

My suggestion is to demo FAPS for a few months and form your own conclusion.

Hmm...thanks for the tip...ill keep in touch...lastly...i have no idea where to get a broker from..when i sign in a Live account at Meta Trader is a broker automatically assigned? Do they provide one with a live account? If not how do i get one that is familiar with this platform. Not too happy with Forex autopilot support.

[mystikdragon7]

Hmm...thanks for the tip...ill keep in touch...lastly...i have no idea where to get a broker from..when i sign in a Live account at Meta Trader is a broker automatically assigned? Do they provide one with a live account? If not how do i get one that is familiar with this platform. Not too happy with Forex autopilot support.

If you clicked on the link on the FAPS page after you bought the program to download Meta trader 4 it brought you straight to FXDD's brokerage sight.

http://www.forexmeta.com/index.php

You can search around to find other brokers that use this trading platform if you don't like this brokerage.

[velociate]

If you clicked on the link on the FAPS page after you bought the program to download Meta trader 4 it brought you straight to FXDD's brokerage sight.

http://www.forexmeta.com/index.php

You can search around to find other brokers that use this trading platform if you don't like this brokerage.

Got it....in one of the posts i remember Alan mentioning...that this program is not exactly profitable if left alone? Is that true? I really want this to work so please advice....is there something i need to do to see actual benefit from this product??

[alan]

Hmm...thanks for the tip...ill keep in touch...lastly...i have no idea where to get a broker from..when i sign in a Live account at Meta Trader is a broker automatically assigned? Do they provide one with a live account? If not how do i get one that is familiar with this platform. Not too happy with Forex autopilot support.


Well first of all make sure you do not confuse the name of the trading platform with a brokerage firm. MetaTrader 4 (ie MetaTrader as you call it) is the software platform. A broker may or MAY NOT offer this particular _trading platform_ (this is a key term to keep in mind).

The way most brokers that offer the metatrader 4 platform work is that you first download the platform (it can be demo, it doesn't matter) and if you wanted to use your live account you'd simply use the live account number and password given to you during the live account sign-up process. In other words you'd type in the live account number and username when you're asked to sign-in into the trading platform.

As for the forex autopilot support, yep, it does suck. This is the main reason why I decided to open up this forum. I believe community support is far more responsive and infinitely less biased. For the FAP folks, there is no incentive for them to offer top-notch support for their users beyond the refund period (I think 60 day or something like that).

Also I must note that Forexmeta is NOT FXDD. I have a hunch forexmeta is mystikdragon7's IB (introducing broker) site, but that's okay for now.

Some of the more popular forex brokers are these:

Interbank FX http://www.interbankfx.com
FXDirectDealer (FXDD) http://fxdd.com
FXCM http://www.fxcm.com
ODL Securities http://www.odlmarkets.com/
North Finance http://www.northfinance.com
Alpari UK http://www.alpari-idc.com/

What I suggest you do is visit this site:

http://www.forexpeacearmy.com/public/forex_broker_reviews

Read the reviews, they'll definitely help you narrow down the list of possible candidates for your future broker.

[marieal]

Got it....in one of the posts i remember Alan mentioning...that this program is not exactly profitable if left alone? Is that true? I really want this to work so please advice....is there something i need to do to see actual benefit from this product??

Fap is not so profitable if you blindly trust it. I am sorry to say this but I think it is true simply because no ea is perfect. Also, profitability depends on the market (movement). Sounds like you are looking for consistent profitability, so I would suggest you to start running fap during London session or even shorter. (Test fap on DEMO first). I also recommend you to set max order 1 so that your potential loss will be limited.

[mystikdragon7]

Also I must note that Forexmeta is NOT FXDD. I have a hunch forexmeta is mystikdragon7's IB (introducing broker) site, but that's okay for now.

OOOPS:eek: I think I got myself mixed up with another broker. I have been trying a lot lately and just got mixed up. I think?

[velociate]

If you clicked on the link on the FAPS page after you bought the program to download Meta trader 4 it brought you straight to FXDD's brokerage sight.

http://www.forexmeta.com/index.php

You can search around to find other brokers that use this trading platform if you don't like this brokerage.

Also where do i see how much ive made or lost? Please expound.

[mystikdragon7]

Also where do i see how much ive made or lost? Please expound.

Click on your account history tab and the bottom in your terminal window. It will show you all your closed trades and how much profit/loss they were. Scroll all the way and you will see your bottom line of your profit/loss

[velociate]

Fap is not so profitable if you blindly trust it. I am sorry to say this but I think it is true simply because no ea is perfect. Also, profitability depends on the market (movement). Sounds like you are looking for consistent profitability, so I would suggest you to start running fap during London session or even shorter. (Test fap on DEMO first). I also recommend you to set max order 1 so that your potential loss will be limited.

Please explicate what London Session means. Does this mean...the only way to get profitable in this business is to learn the ways and intricacies of Forex? Was looking at FAP as a program that could rope in some profit while i concentrate on my business..since i do have funds to invest. Do i have to stare at charts all day to get profitable?

[marieal]

Please explicate what London Session means. Does this mean...the only way to get profitable in this business is to learn the ways and intricacies of Forex? Was looking at FAP as a program that could rope in some profit while i concentrate on my business..since i do have funds to invest. Do i have to stare at charts all day to get profitable?

It depends on where you are when London session opens. Go to the following site and choose your local time (time zone), and then you set time in ''input'' area.

http://forex.timezoneconverter.com/index.cgi?timezone=Canada/Eastern&refresh=5

I am not saying this is the only time/way fap is profitable, however, for fap to make money, trading volume and price movement are important. During London session, eur/usd is traded very well in terms of volume and movement.

[alan]

OOOPS:eek: I think I got myself mixed up with another broker. I have been trying a lot lately and just got mixed up. I think?

lool..well I don't know what you've done, but I can tell you for sure that FXDD is not related to Forexmeta, so you may want to switch to FXDD - it's up to you.

future tip: be very careful next time so you don't confuse brokers...it can cost you your account sometimes (as in signing up for a scam broker that will refuse your withdrawals)

[alan]

Does this mean...the only way to get profitable in this business is to learn the ways and intricacies of Forex?

That is the only way to become consistently profitable. Forex trading is a tough business. You first realize this, and you also must know that almost 98% of all traders actually consistently LOSE money. With automated trading systems such as FAPS one must be aware that although some may work, they won't continue to be profitable forever. There is no magic bullet here, and FAPS is by no means a "holy grail" expert advisor.

Personally I am not convinced that this product truly deserves the right to use the word "autopilot" I think it does require some monitoring and sometimes even some tweaking to get a modest measure of profitabilty out of it. This may sound gloomy but I'm just stating my experience with it.


Was looking at FAP as a program that could rope in some profit while i concentrate on my business..since i do have funds to invest. Do i have to stare at charts all day to get profitable?

No you do not have to stare at charts all day. What I suggest you do though is keep an eye on the important economic news releases that affect the EUR & USD and when you notice a big change in trend then close your floating losing positions. FAPS has a nasty tendency of getting itself into a REALLY big losing trade. Usually this happens when the trend reverses on it unexpectedly. Typically it just rides the trade hoping it would turn around, but sometimes the trend is so strong that there is no way in hell that it will ever turn around and turn profitable. When this happens you'll end up with a HUGE floating loss that will most likely end up being closed at the end of the month (btw, so you know FAP closes all losing positions at the end of the month). This of course is assuming that you don't touch the trade and you just let FAP manage everything.

With that in mind I must state that money management is one of FAPS weakness. Thus I believe that for long term success a sound money management system must be applied (manually) to FAPS. The lack of solid and automated money management features is the primary reason I believe you see a lot of these so called "forex autopilot gurus" selling their "trading guides"

So in conclusion FAPS is NOT a "set it an forget it" type of EA.

Send me a private message and I'll recommend one EA that just may fit that bill for you (as in you just set it and you forget it as the EA receives automatic optimized settings from the author's server) (I've been using the non optimization version of this product for quite a while now)

But anyways, I suggest you DEMO test as long as you feel is necessary for you to become comfortable with the way FAPS trades. I repeat DEMO test even if you have "money to invest"

[alan]

It depends on where you are when London session opens. Go to the following site and choose your local time (time zone), and then you set time in ''input'' area.

http://forex.timezoneconverter.com/index.cgi?timezone=Canada/Eastern&refresh=5

I am not saying this is the only time/way fap is profitable, however, for fap to make money, trading volume and price movement are important. During London session, eur/usd is traded very well in terms of volume and movement.

marieal that is actually a very good suggestion...I was intending to apply a time filter too! I'm going to set it up as soon as the sunday session opens.

[Earl]

I totally agree with Alan.... Faps is no way the best trading program around, and for your own sake you better monitor it.

I started last week with 1000 dollars and I have made $998 dollars worth of winning trades. If I post that page it looks impressive.....there are no losing trades on the page.(just like we see on the web site) But what they don't show you on the web site is...how man open trades??? I have just about -300 bucks worth of open trades...and it could get worse if thing go in the wrong direction this evening into monday.

The only bad trades faps has closed is the ones that I had to close myself. But to speak truthfully they would have been winning trades if I didn't close them.

Faps seems to me to like to buy more than sell....and the way that the US Economy is looking I'm in trouble for monday..if I don't decide to close all trades and run for the hills.

But like anything I will close those trades and start looking in the other direction ....faps should be able to identify a downturn..I think..LOL

My words to everyone is to dump all your stocks, bonds, mutual funds..get Cash...buy gold or silver and ride this mother out.

These are becoming scarey times..LOL

[^eagle^]

I totally agree with Alan.... Faps is no way the best trading program around, and for your own sake you better monitor it.

I started last week with 1000 dollars and I have made $998 dollars worth of winning trades. If I post that page it looks impressive.....there are no losing trades on the page.(just like we see on the web site) But what they don't show you on the web site is...how man open trades??? I have just about -300 bucks worth of open trades...and it could get worse if thing go in the wrong direction this evening into monday.

The only bad trades faps has closed is the ones that I had to close myself. But to speak truthfully they would have been winning trades if I didn't close them.

Faps seems to me to like to buy more than sell....and the way that the US Economy is looking I'm in trouble for monday..if I don't decide to close all trades and run for the hills.

But like anything I will close those trades and start looking in the other direction ....faps should be able to identify a downturn..I think..LOL

My words to everyone is to dump all your stocks, bonds, mutual funds..get Cash...buy gold or silver and ride this mother out.

These are becoming scarey times..LOL

Earl,

Don't dis this system you got going here.

I tried this system with the old EA but scrapped it because it was a buying EA. This new EA has as many buys as sells.

I notice a nice hedge it sets up from time to time that actually holds your losses in place. I may be wrong but this may be the magic bullet. It will auto matically close out the losses at the end of the month but if you are pulling ten to twenty wins a day you should come out way ahead.

It's not a perfect fool proof system but this definetly has an edge to it.

The Fap on the usd/chf is buying more and the EA on the eur/usd is selling more. I'll pull up my screen shot in a minute.

[velociate]

marieal that is actually a very good suggestion...I was intending to apply a time filter too! I'm going to set it up as soon as the sunday session opens.

Guys...maybe im reading this wrong but the Demo version earned me $800 today with one more open trade in profit...dunno how its gonna end....naturally this looks creamy to a newbie like me...what am i not seeing? Started of with $3000 now balance is $3800.....they say most trades end up with losses? Am i right here? Please help me understand what im not seeing.

IN addition...ive heard many a posts say FAPS does not open enough trades...this is the 5th trade today...or is it only cause its a Demo Account?

[^eagle^]

2072196208 2008.09.29 03:14 buy 0.01 usdchf 1.0943 0.0000 1.0963 2008.09.29 03:30 1.0963 0.00 0.00 0.00 1.82
2072195876 2008.09.29 03:04 sell 0.01 eurusd 1.4539 0.0000 1.4519 2008.09.29 03:19 1.4519 0.00 0.00 0.00 2.00
2072194212 2008.09.29 01:48 sell 0.01 eurusd 1.4534 0.0000 1.4514 2008.09.29 03:22 1.4514 0.00 0.00 0.00 2.00
2072192548 2008.09.29 00:50 sell 0.01 usdchf 1.0942 0.0000 1.0922 2008.09.29 01:56 1.0922 0.00 0.00 0.00 1.83
2072188139 2008.09.26 22:55 buy 0.01 usdchf 1.0905 0.0000 1.0925 2008.09.29 00:00 1.0925 0.00 0.00 0.00 1.83
2072188029 2008.09.26 22:38 buy 0.01 usdchf 1.0898 0.0000 1.0918 2008.09.29 00:00 1.0918 0.00 0.00 0.00 1.83
2072187823 2008.09.26 22:07 buy 0.01 usdchf 1.0889 0.0000 1.0909 2008.09.29 00:00 1.0909 0.00 0.00 0.00 1.83
2072187000 2008.09.26 20:39 sell 0.01 usdchf 1.0894 0.0000 1.0874 2008.09.26 21:34 1.0874 0.00 0.00 0.00 1.84
2072184874 2008.09.26 18:56 sell 0.01 eurusd 1.4583 0.0000 1.4563 2008.09.29 00:00 1.4563 0.00 0.00 -0.05 2.00
2072184635 2008.09.26 18:46 buy 0.01 usdchf 1.0889 0.0000 1.0909 2008.09.29 00:00 1.0909 0.00 0.00 0.00 1.83
2072184570 2008.09.26 18:44 sell 0.01 eurusd 1.4592 0.0000 1.4572 2008.09.29 00:00 1.4572 0.00 0.00 -0.05 2.00
2072183689 2008.09.26 18:19 buy 0.01 usdchf 1.0888 0.0000 1.0908 2008.09.29 00:00 1.0908 0.00 0.00 0.00 1.83
2072183510 2008.09.26 18:15 sell 0.01 eurusd 1.4585 0.0000 1.4565 2008.09.29 00:00 1.4565 0.00 0.00 -0.05 2.00
2072183194 2008.09.26 18:08 sell 0.01 eurusd 1.4591 0.0000 1.4571 2008.09.29 00:00 1.4571 0.00 0.00 -0.05 2.00
2072182051 2008.09.26 17:43 sell 0.01 eurusd 1.4619 0.0000 1.4599 2008.09.26 18:01 1.4599 0.00 0.00 0.00 2.00
2072181975 2008.09.26 17:41 buy 0.01 usdchf 1.0867 0.0000 1.0887 2008.09.26 18:06 1.0887 0.00 0.00 0.00 1.84
2072177000 2008.09.26 16:40 sell 0.01 usdchf 1.0880 0.0000 1.0860 2008.09.26 16:45 1.0860 0.00 0.00 0.00 1.84
2072176324 2008.09.26 16:29 sell 0.01 eurusd 1.4581 0.0000 1.4561 2008.09.29 00:00 1.4561 0.00 0.00 -0.05 2.00
2072176274 2008.09.26 16:28 buy 0.01 usdchf 1.0883 0.0000 1.0903 2008.09.26 19:10 1.0903 0.00 0.00 0.00 1.83
2072175490 2008.09.26 16:17 sell 0.01 eurusd 1.4601 0.0000 1.4581 2008.09.26 16:20 1.4581 0.00 0.00 0.00 2.00
2072175485 2008.09.26 16:17 buy 0.01 usdchf 1.0872 0.0000 1.0892 2008.09.26 18:10 1.0892 0.00 0.00 0.00 1.84
2072172711 2008.09.26 15:22 sell 0.01 eurusd 1.4635 0.0000 1.4615 2008.09.26 15:59 1.4615 0.00 0.00 0.00 2.00
2072168707 2008.09.26 13:34 buy 0.01 usdchf 1.0898 0.0000 1.0918 2008.09.29 00:00 1.0918 0.00 0.00 0.00 1.83
2072168611 2008.09.26 13:32 sell 0.01 eurusd 1.4565 0.0000 1.4547 2008.09.29 00:08 1.4547 0.00 0.00 -0.05 1.80
2072167556 2008.09.26 12:52 buy 0.01 eurusd 1.4585 0.0000 1.4605 2008.09.26 14:10 1.4605 0.00 0.00 0.00 2.00
2072167171 2008.09.26 12:34 buy 0.01 eurusd 1.4581 0.0000 1.4601 2008.09.26 14:02 1.4601 0.00 0.00 0.00 2.00
2072166920 2008.09.26 12:23 buy 0.01 usdchf 1.0903 0.0000 1.0923 2008.09.29 00:00 1.0923 0.00 0.00 0.00 1.83
2072166874 2008.09.26 12:22 sell 0.01 eurusd 1.4575 0.0000 1.4555 2008.09.29 00:00 1.4555 0.00 0.00 -0.05 2.00
2072162511 2008.09.26 10:44 sell 0.01 eurusd 1.4583 0.0000 1.4563 2008.09.26 13:25 1.4563 0.00 0.00 0.00 2.00
2072160653 2008.09.26 10:22 sell 0.01 eurusd 1.4613 0.0000 1.4593 2008.09.26 10:28 1.4593 0.00 0.00 0.00 2.00
2072156556 2008.09.26 08:37 buy 0.01 eurusd 1.4637 0.0000 1.4657 2008.09.26 17:01 1.4657 0.00 0.00 0.00 2.00
2072156452 2008.09.26 08:31 sell 0.01 eurusd 1.4632 0.0000 1.4612 2008.09.26 10:10 1.4612 0.00 0.00 0.00 2.00
2072151750 2008.09.26 04:25 sell 0.01 eurusd 1.4656 0.0000 1.4636 2008.09.26 08:12 1.4636 0.00 0.00 0.00 2.00
2072150908 2008.09.26 03:57 sell 0.01 eurusd 1.4661 0.0000 1.4641 2008.09.26 08:11 1.4641 0.00 0.00 0.00 2.00
2072125982 2008.09.25 16:21 sell 0.01 eurusd 1.4696 0.0000 1.4666 2008.09.25 17:21 1.4666 0.00 0.00 0.00 3.00
2072118823 2008.09.25 14:10 buy 0.01 eurusd 1.4672 0.0000 1.4702 2008.09.25 15:13 1.4702 0.00 0.00 0.00 3.00
2072114456 2008.09.25 12:07 sell 0.05 eurusd 1.4725 0.0000 0.0000 2008.09.25 12:11 1.4724 0.00 0.00 0.00 0.50
2072103356 2008.09.25 06:54 sell 0.01 eurusd 1.4705 0.0000 1.4675 2008.09.25 13:45 1.4675 0.00 0.00 0.00 3.00
2072096039 2008.09.25 02:56 buy 0.01 eurusd 1.4651 0.0000 1.4681 2008.09.25 04:18 1.4681 0.00 0.00 0.00 3.00
0.00 0.00 -0.35 77.95
Closed P/L: 77.60
Open Trades:
Ticket Open Time Type Size Item Price S / L T / P Price Commission Taxes Swap Profit
2071947317 2008.09.22 08:03 sell 0.01 eurusd 1.4490 0.0000 1.4460 1.4517 0.00 0.00 -0.40 -2.70
2072132188 2008.09.25 17:43 buy 0.01 eurusd 1.4663 0.0000 1.4693 1.4514 0.00 0.00 -0.04 -14.90
2072151879 2008.09.26 04:32 buy 0.01 eurusd 1.4660 0.0000 1.4680 1.4514 0.00 0.00 -0.02 -14.60
2072185310 2008.09.26 19:14 sell 0.01 usdchf 1.0885 0.0000 1.0865 1.0970 0.00 0.00 -0.06 -7.75
2072197901 2008.09.29 03:52 buy 0.01 usdchf 1.0976 0.0000 1.0996 1.0966 0.00 0.00 0.00 -0.91
2072197947 2008.09.29 03:53 sell 0.01 eurusd 1.4492 0.0000 1.4472 1.4517 0.00 0.00 0.00 -2.50
2072198637 2008.09.29 04:03 buy 0.01 eurusd 1.4503 0.0000 1.4523 1.4514 0.00 0.00 0.00 1.10
0.00 0.00 -0.52 -42.26
Floating P/L: -42.78
Working Orders:
Ticket Open Time Type Size Item Price S / L T / P Market Price
No transactions

Summary:
Deposit/Withdrawal: 0.00 Credit Facility: 0.00
Closed Trade P/L: 77.60 Floating P/L: -42.78 Margin: 7.28
Balance: 411.37 Equity: 368.59 Free Margin: 361.21


ok we have 15 buys and 23 sells

Now lets break this down by pairs

the franc has 11 buys and 3 sells

the euro has 4 buys and 20 sells


Looks like its hedging to me!

[Earl]

the eurusd just dropped 100 pips... pushing my losses to 400...

if it keeps on dropping I'm going to have to kill the position myself..

The forex has a thing called beginners luck...LOL

[velociate]

the eurusd just dropped 100 pips... pushing my losses to 400...

if it keeps on dropping I'm going to have to kill the position myself..

The forex has a thing called beginners luck...LOL

Common...are u trying to dissuade me out of this? LOL.....Just so you know theres one open trade at -320 if that makes u feel better lol...So just thinking...im obviously going to play the demo for a month before entering real thing...My question is...if im looking at Metatrader all day....what am i lookin for? What Signs or such? Say i dont count on Autopilot but do monitor....whats the wisest thing to monitor. Im hoping u wont say Financial news!?

[Earl]

I would just watch the trades...get rid of any off the wall trade once you see it's losing money (too much money) I wouldn't set a stop loss I's just do it manually...

right now I have 6 trades going at once eurusd all buys...but faps picked up a sell on the way down...but it didn't reach profit now the eurusd is on it's way back up...I might kill the sell just to be safe...if it continues to go back up I don't want to have a big big open trade...

someone said on here that faps has no sense of money management..I totally agree!!

[velociate]

I would just watch the trades...get rid of any off the wall trade once you see it's losing money (too much money) I wouldn't set a stop loss I's just do it manually...

right now I have 6 trades going at once eurusd all buys...but faps picked up a sell on the way down...but it didn't reach profit now the eurusd is on it's way back up...I might kill the sell just to be safe...if it continues to go back up I don't want to have a big big open trade...

someone said on here that faps has no sense of money management..I totally agree!!

Yeah that was Alan...he seems to be almost always right. Could you please help me with Stop Loss...How does stop loss work? When should we set a stop loss? As compared to Faps taking care of it? When should we intervene with Stop Loss?

[Earl]

I wouldn't stop loss...I would just manually stop it...just incase the broker is stop loss hunting.

Thats if you have the time to watch...:(

if you don't have the time the best thing is to set a stop loss of 100 pips as per Alan. I agree with that

Really it's whatever YOU feel comphy with.

some can take more pain than others

[alan]

I totally agree with Alan.... Faps is no way the best trading program around, and for your own sake you better monitor it.

I started last week with 1000 dollars and I have made $998 dollars worth of winning trades. If I post that page it looks impressive.....there are no losing trades on the page.(just like we see on the web site) But what they don't show you on the web site is...how man open trades??? I have just about -300 bucks worth of open trades...and it could get worse if thing go in the wrong direction this evening into monday.

The only bad trades faps has closed is the ones that I had to close myself. But to speak truthfully they would have been winning trades if I didn't close them.

Faps seems to me to like to buy more than sell....and the way that the US Economy is looking I'm in trouble for monday..if I don't decide to close all trades and run for the hills.

But like anything I will close those trades and start looking in the other direction ....faps should be able to identify a downturn..I think..LOL

My words to everyone is to dump all your stocks, bonds, mutual funds..get Cash...buy gold or silver and ride this mother out.

These are becoming scarey times..LOL

Earl how did your account weather that big gap in the market when it opened today? For me it actually worked in my favor as FAP was short.

Buying gold and silver is a good idea in ANY market condition not just the bad times. It's a true preserve of your wealth. This monopoly money we call the US Dollar is in serious trouble for the long term if nothing is done. Inflation is going to erode the value of the dollar to ZERO if the Federal Reserve keeps on printing money like there is no tomorrow.

[Earl]

Earl how did your account weather that big gap in the market when it opened today? For me it actually worked in my favor as FAP was short.

Buying gold and silver is a good idea in ANY market condition not just the bad times. It's a true preserve of your wealth. This monopoly money we call the US Dollar is in serious trouble for the long term if nothing is done. Inflation is going to erode the value of the dollar to ZERO if the Federal Reserve keeps on printing money like there is no tomorrow.down to -400... but waiting for the big burst back up to around 1.48..

Do you think that will happen before the end of the month..LOL

dealer let it ride... if a loose all my gains I just loose

[alan]

the eurusd just dropped 100 pips... pushing my losses to 400...

if it keeps on dropping I'm going to have to kill the position myself..

The forex has a thing called beginners luck...LOL

Lol :) I should tell you guys the story of how I took a $140 account all the way to $1200 and back down to $160.

[alan]

ok we have 15 buys and 23 sells

Now lets break this down by pairs

the franc has 11 buys and 3 sells

the euro has 4 buys and 20 sells


Looks like its hedging to me!

All thanks to my brilliant (sarcasm btw) idea! You owe me now ;) lol

Hm, but seriously I think I may give the USD/CHF a try.

[velociate]

down to -400... but waiting for the big burst back up to around 1.48..

Do you think that will happen before the end of the month..LOL

dealer let it ride... if a loose all my gains I just loose

Well even the Demo shows -430...is it exactly the same as the real thing without any deception?

Also, if i just let it ride...when will the trade end automatically? I think Alan said end of month...if so what date every month? 30 or 31st?

[alan]

down to -400... but waiting for the big burst back up to around 1.48..

Do you think that will happen before the end of the month..LOL

dealer let it ride... if a loose all my gains I just loose

Not if the US Bailout plan pulls through. I believe it's more likely that we will see 1.38 support being tested once again.

[alan]

Well even the Demo shows -430...is it exactly the same as the real thing without any deception?

Of course. It's paper trading - it simulates the real thing as close as possible.

[alan]

Well even the Demo shows -430...is it exactly the same as the real thing without any deception?

Also, if i just let it ride...when will the trade end automatically? I think Alan said end of month...if so what date every month? 30 or 31st?

Oct 1'st will be the day when your trades will be closed. Keep in mind this is your BROKERS time! I.E the SERVER's time.

[velociate]

Oct 1'st will be the day when your trades will be closed. Keep in mind this is your BROKERS time! I.E the SERVER's time.

So basically the 1st of every month? and Brokers time? Server time? Sorry but please expound and i really appreciate u bearing with me...immensely.

[Earl]

faps... made that trade...LOL didn't it know I was not going back up to 1.48..LOL

[alan]

Common...are u trying to dissuade me out of this? LOL.....Just so you know theres one open trade at -320 if that makes u feel better lol...So just thinking...im obviously going to play the demo for a month before entering real thing...My question is...if im looking at Metatrader all day....what am i lookin for? What Signs or such? Say i dont count on Autopilot but do monitor....whats the wisest thing to monitor. Im hoping u wont say Financial news!?

loool....sorry to bring you the bad news, but it IS financial news :p..

http://www.forexfactory.com/calendar.php

Financial data moves the markets.

Sometimes though the trend are so obvious that you'd have to be blind to to see them.

Try this though: plot a 200 SMA and a 55 SMA on the daily chart.

the 200 SMA is the long term trend, the 55 SMA is the medium-term trend.

Additionally you may plot 21, 18, 14, 12 & 8 SMAs on the chart for the short term trend.

One simple "get out" technique is to close your trades if price moves either above or below the 200 SMA line (depending on whether you are short or long of course) So for example if you are holding on to a short position and price crosses the 200 SMA line close your trades, and conversely for long positions.

Hope that helps.

[alan]

So basically the 1st of every month? and Brokers time? Server time? Sorry but please expound and i really appreciate u bearing with me...immensely.

Every month (no it does not take vacations). Brokers time! (server time and brokers time are really the same thing) Sorry but I tend to be overly detailed. I just wanted to make sure you got my point, and apparently I've lost you with my verbosity.

[alan]

faps... made that trade...LOL didn't it know I was not going back up to 1.48..LOL

hehehe..maybe if you whisper to it sweet lullabies it just may go back up to 1.48...;)

[Earl]

move eurusd move!!!!!!it's been hours...

I've been singing "rise up rise up" by the Eurythmics

[velociate]

loool....sorry to bring you the bad news, but it IS financial news :p..

http://www.forexfactory.com/calendar.php

Financial data moves the markets.

Sometimes though the trend are so obvious that you'd have to be blind to to see them.

Try this though: plot a 200 SMA and a 55 SMA on the daily chart.

the 200 SMA is the long term trend, the 55 SMA is the medium-term trend.

Additionally you may plot 21, 18, 14, 12 & 8 SMAs on the chart for the short term trend.

One simple "get out" technique is to close your trades if price moves either above or below the 200 SMA line (depending on whether you are short or long of course) So for example if you are holding on to a short position and price crosses the 200 SMA line close your trades, and conversely for long positions.

Hope that helps.

Youre gonna have to clarify that ten fold lol...But let me look into it and ask you categorically...so i dont confuse You lol...right now its possible based on how confused i am.

[velociate]

Every month (no it does not take vacations). Brokers time! (server time and brokers time are really the same thing) Sorry but I tend to be overly detailed. I just wanted to make sure you got my point, and apparently I've lost you with my verbosity.

Hey and what bout that program you mentioned yesterday? Ive Pmd you bout it...could you tell me where to find it please?

[Earl]

is it that program that hasn't lost a single trade for 9 years...

you know I'm getting that one...LOL as soon as they give the info...

I'm caught up in scams...LOL

[alan]

move eurusd move!!!!!!it's been hours...

I've been singing "rise up rise up" by the Eurythmics

Are you form the United States? Don't say that! Don't you have a strong dollar policy :p?

Check out this posting I made on my blog a few minutes ago:

http://alansmoneyblog.com/2008/09/29/us-700b-financial-bailout-plan-nearly-finalized/

So it looks like if it pull through peace and sunshine will return to the financial markets. Now let's all run across the fields singing praises to government intervention......

[alan]

Youre gonna have to clarify that ten fold lol...But let me look into it and ask you categorically...so i dont confuse You lol...right now its possible based on how confused i am.

Ok :p..I await your inquiry. And please don't confuse me, I have to slowly waddle my way to work soon and I just may hit some pole or tree lol.

[alan]

Hey and what bout that program you mentioned yesterday? Ive Pmd you bout it...could you tell me where to find it please?

Check your PM box.

[alan]

is it that program that hasn't lost a single trade for 9 years...

you know I'm getting that one...LOL as soon as they give the info...

I'm caught up in scams...LOL

No way I would tell people about that one ;) I'd keep it to myself lol.

You know an interesting bit of trivia is that FAPS claims 96% winning trades.

[Earl]

I

AM

CANADIAN!!!!!

The deal is not done yet...I still have a chance

[Earl]

Didn't you get that e-mail Alan???

The one that talks about the bot that has had a perfect record for the past 9 years.

PERFECT!
PERFECT!

it comes from the makers of faps and killer...

I'm going to be rich!!!LOL who is with me?

[alan]

Didn't you get that e-mail Alan???

The one that talks about the bot that has had a perfect record for the past 9 years.

PERFECT!
PERFECT!

it comes from the makers of faps and killer...

I'm going to be rich!!!LOL who is with me?

Nope, I never get such mails. I'm not on the "get rich quick" mailing list unfortunately. Going to be rich? I though you already were!? :o

[alan]

I

AM

CANADIAN!!!!!

The deal is not done yet...I still have a chance

Impostor! I am the only Canadian here :)

[Earl]

Hey man I'm from Toronto...

I live in the GTA

where no one knows what the forex is..LOL

[alan]

Hey man I'm from Toronto...

I live in the GTA

where no one knows what the forex is..LOL

Oh really? :eek: And here I was thinking Canadians are too busy building their igloos and playing hockey to trade forex lol :p..

Cool stuff Earl. Next time I'm in the T.O I'll give you a shout.

I don't know if nobody knows about forex. I bet the big bay street banks know exactly what forex is and how to wipe out the beginner traders.

[Earl]

I have a friend thats a top exec at TD bank... deals with commercial loans...I talked to him a few years ago about it...he had no clue what it was.

I thought he was joking...lol nope

[alan]

I have a friend thats a top exec at TD bank... deals with commercial loans...I talked to him a few years ago about it...he had no clue what it was.

I thought he was joking...lol nope

Oh dear lord I'm immediately closing my TD account! I'm sure though sitting locked up in some closet is their trader, living on a enriching diet of pepsi and pizza.

[Earl]

He had to ask someone who worked in that dept. All he could tell me is that Forex was high high risk and don't do it...LOL

[alan]

He had to ask someone who worked in that dept. All he could tell me is that Forex was high high risk and don't do it...LOL

Well you gotta give the guy some credit, at least he knew that forex is high risk. Speaking of which, do you know of any good Canadian forex brokers that offer the MT4 platform?

[Earl]

nope... no good ones

[alan]

is it that program that hasn't lost a single trade for 9 years...

you know I'm getting that one...LOL as soon as they give the info...

I'm caught up in scams...LOL

lol...I take by my previous comment..it seems I did receive that e-mail..it was in my junk mail folder though. What a crock of BS!

For sure Andreas Kirchberg and "Marcus Leary" make waaaay more money from just promoting various forex products than they could ever from actually trading with their own products.

[alan]

nope... no good ones

Hmm, dang. Maybe I should open up my own :p

[clintNZD]

Hi Alan

I have setup faps on demo for over a week now(not including weekend). It has not made any moves at all? I feel I have loaded everything in properly. Smiley face on,inputs are set to faps setup. I know the market has been up and down, but wouldn't of thought this would stop faps from putting trades on. Is there any other reason for no movement with the bot?

Thanks
clintnz

[alan]

Hi Alan

I have setup faps on demo for over a week now(not including weekend). It has not made any moves at all? I feel I have loaded everything in properly. Smiley face on,inputs are set to faps setup. I know the market has been up and down, but wouldn't of thought this would stop faps from putting trades on. Is there any other reason for no movement with the bot?

Thanks
clintnz

So you followed the instructions in the manual to the letter? Have you also checked out the "Journal" tab to see if FAP is spewing out any errors at you. One common one is that people forget to input their activation key.

[velociate]

So you followed the instructions in the manual to the letter? Have you also checked out the "Journal" tab to see if FAP is spewing out any errors at you. One common one is that people forget to input their activation key.

Talk about 95% winning trades being successful....i think its a world im unfamiliar with! In MY Demo there have been 30 trades since yesterday...more than 50% closed trades are losses. Right now my overall loss is $1619 and counting...what on earth is going on...theres surely something im doing wrong...or not doing. Please help!

[alan]

Talk about 95% winning trades being successful....i think its a world im unfamiliar with! In MY Demo there have been 30 trades since yesterday...more than 50% closed trades are losses. Right now my overall loss is $1619 and counting...what on earth is going on...theres surely something im doing wrong...or not doing. Please help!

Post your trade history please.

[clintNZD]

I had set the M1 to 4hr trade. Now set to M1, faps started within 10mins. It has pulled in some positive trades +84.75 p/l. Setting eurusd at 0.05 on $1500.00 demo has been running for 2days with roughly 4hrs left in this months trading time, I have just popped in for lunch to see that faps has picked up a loosing trade with audusd -145.00 currently. Why would this happen so close to monthly ending. I was going to turn faps off, but thought hey lets see what happens this close to end of month. I wouldn't have thought autopilot would pick up on such a negative? I will let you know how this trade ends later this evening.clintnz

[Earl]

FAPS is not suppose to work...I got a call today from the faps people, who want to teach me how to trade. They asked me about my finances, and what I wanted out of life.

why would you want to teah me how to trade IF your system works???

[clintNZD]

I had set the M1 to 4hr trade. Now set to M1, faps started within 10mins. It has pulled in some positive trades +84.75 p/l. Setting eurusd at 0.05 on $1500.00 demo has been running for 2days with roughly 4hrs left in this months trading time, I have just popped in for lunch to see that faps has picked up a loosing trade with audusd -145.00 currently. Why would this happen so close to monthly ending. I was going to turn faps off, but thought hey lets see what happens this close to end of month. I wouldn't have thought autopilot would pick up on such a negative? I will let you know how this trade ends later this evening.clintnz

Well' that was interesting. Bout 1hr before monthly cutoff -345 audusd, then it continued to pick up eurusd trade which also ran into loss. Both were called. -535 loss, interesting tho' I have left running since the bot has come back in fine form with over 9 positive trades. Are we as Alan said seeing some sort of pattern toward end of month trading? Remember I am running demo account.

[alan]

I had set the M1 to 4hr trade. Now set to M1, faps started within 10mins. It has pulled in some positive trades +84.75 p/l. Setting eurusd at 0.05 on $1500.00 demo has been running for 2days with roughly 4hrs left in this months trading time, I have just popped in for lunch to see that faps has picked up a loosing trade with audusd -145.00 currently. Why would this happen so close to monthly ending. I was going to turn faps off, but thought hey lets see what happens this close to end of month. I wouldn't have thought autopilot would pick up on such a negative? I will let you know how this trade ends later this evening.clintnz

clint, you're trading on the wrong pairs. That's all I'm going to say about this. Trade at your own risk, just as long as you understand that FAPS was not optimized and is not designed to trade anything but the eur/usd pair.