How does ForexAutoPilot Work & How to Configure it? Lost Already $5000 in 2 Weeks :(

[Aussie]

Could Anyone Please help Me I'm a new begginer in Trading a stupid of me I have already lost $5000 in two weeks. And now purchased ForexAutoPilot but confused on how to use the thing. I have posted few Question if anyone could answer them I would really appreciate it.

Any Tips would help.

If my wife new about the Loss she will kill me :(

Could anyone help on the questions Below??


Q1) Do I have to a make a new order first buy or Sell and then drag

Forex AutoPilot to a EUR|USD chart?



Q2) If I dragged Forex AutoPilot to a chart ex. EUR/USD does it automatically

Open a new position or Order for me automatically without putting an Order In?



Q3) If I was loosing on a position does Forex AutoPilot close that position

Automatically or do I have to do it manually?



Q4) Do you need to configure the Stop Loss or Take Profit from the Input of Forex AutoPilot or do you leave it as default?



Q5) If Forex AutoPilot was in a position on taking a Long Trend and making Profit and then Suddenly the Trend When Down does it holds the profit? If it then it takes a Short Trend do you loose your previous Profit or make more
Profit on the short Trend? What happens to the Previous long Profit?


Q6) Could you please give a configuration of steps on the best way on how to configure Forex AutoPilot?

Thanks You for All Your Help

Regards,

Aussie or email me on sadikf@yahoo.com

[^eagle^]

Could Anyone Please help Me I'm a new begginer in Trading a stupid of me I have already lost $5000 in two weeks. And now purchased ForexAutoPilot but confused on how to use the thing. I have posted few Question if anyone could answer them I would really appreciate it.

Any Tips would help.

If my wife new about the Loss she will kill me :(

Could anyone help on the questions Below??


Q1) Do I have to a make a new order first buy or Sell and then drag

Forex AutoPilot to a EUR|USD chart?



Q2) If I dragged Forex AutoPilot to a chart ex. EUR/USD does it automatically

Open a new position or Order for me automatically without putting an Order In?



Q3) If I was loosing on a position does Forex AutoPilot close that position

Automatically or do I have to do it manually?



Q4) Do you need to configure the Stop Loss or Take Profit from the Input of Forex AutoPilot or do you leave it as default?



Q5) If Forex AutoPilot was in a position on taking a Long Trend and making Profit and then Suddenly the Trend When Down does it holds the profit? If it then it takes a Short Trend do you loose your previous Profit or make more
Profit on the short Trend? What happens to the Previous long Profit?


Q6) Could you please give a configuration of steps on the best way on how to configure Forex AutoPilot?

Thanks You for All Your Help

Regards,

Aussie or email me on sadikf@yahoo.com

Q1) No, Just click and drag the ea and check the appropriate boxes

Q2) Yes. But it sometiems does not make any trades It looks for a good opening.

Q3)It has three internak stop losses, A quick whipsaw stop, A doomsday death drop stop/ and it closes all trades at the end of the month

Q4) If you have to ask this question leave it at default settings.

Q5) FAP holds all trades until it is stopped out or takes profit.

Q6) See answer Q4.

[marieal]

Hi, Aussie.

Sorry to hear your big loss. :( You seem to have some money to invest, but it is not recommended to start with a lot of money when you are a beginner. Test fap on your DEMO first until you feel comfortable with, and then use it on your live. Also, don't over leverage your account. If you do with fap, you will blow your account sooner or later.

Welcome to the forum :)

P.S. It is not a good idea to post your email address on the forum as anyone can come here and see it. You might get spammed.

[Aussie]

But I have read few forums and few people recommend to change the settings of your Stop Loss & Take Profit.
I know you said to use the default but I would like you to see the secanrio below and tell what you think!!!

If had a capital of $1500 to Trade on a real account would be best to set the following settings:

Lots=0.01
Max Orders=1 Does Max Orders Stand for 1 Trade at a time?
Take Profit=200
Stop Loss=25
SlipPage=3

Could you please tell me what is the best configuration settings for $1500 mini account I would really appreciate your help.

Also what is MaxLots=100?

I suppose should test it on a demo account and mayme Backtest it.

Thanks Again Eagle for your reply :)

Aussie

[^eagle^]

But I have read few forums and few people recommend to change the settings of your Stop Loss & Take Profit.
I know you said to use the default but I would like you to see the secanrio below and tell what you think!!!

If had a capital of $1500 to Trade on a real account would be best to set the following settings:

Lots=0.01
Max Orders=1 Does Max Orders Stand for 1 Trade at a time?
Take Profit=200
Stop Loss=25
SlipPage=3

Could you please tell me what is the best configuration settings for $1500 mini account I would really appreciate your help.

Also what is MaxLots=100?

I suppose should test it on a demo account and mayme Backtest it.

Thanks Again Eagle for your reply :)

Aussie


Try this...
Lots.01
Take profit 20
Stop loss 300
Max orders 10

Don'try about Max lots.

you don't have enough money to hit that

Everything else is default

Try on demo first