Need Help!

velociate · #1 09-26-2008, 09:47 PM

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 · #2 09-26-2008, 09:56 PM

Quote:

Originally Posted by 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!

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 · #3 09-26-2008, 10:08 PM

Quote:

Originally Posted by alan

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 · #4 09-26-2008, 10:09 PM

Quote:

Originally Posted by velociate

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 · #5 09-26-2008, 10:17 PM

Quote:

Originally Posted by alan

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 · #6 09-27-2008, 05:18 PM

Quote:

Originally Posted by velociate

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 · #7 09-27-2008, 05:27 PM

Quote:

Originally Posted by mystikdragon7

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 · #8 09-27-2008, 07:43 PM

Quote:

Originally Posted by velociate

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...broker_reviews

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

marieal · #9 09-27-2008, 08:13 PM

Quote:

Originally Posted by velociate

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 · #10 09-27-2008, 08:36 PM

Quote:

Originally Posted by alan

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

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