Quote:
Originally Posted by Chrissy
seems that even with an EA, you need more to go with it, or it doesn't work. what I didn't like about this EA is that is has no stop loss. It also would run for hundreds of pips to attempt to come back again and make 20 pips profit. Half the time I would manually close the trade, thinking how can it range SO FAR away and I do mean hundreds of pips to try and capture 20? I spoke to someone from Forex Auto Pilot and they told me I should put a stop loss in. However, would that not defeat the purpose of the EA? How am I to know how far it's supposed to range before it turns around?
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I still use no stop loss and am doing fine. The other side of what you say is that FAP also has the capability of doing multiple trades in one day.
Manually closing the trades is not good because you are allowing emotion to take control.
Those of us who are members of FAPWINNER also have recommended settings that are posted weekly, plus weekly mentoring sessions and many other benefits. We also have a separate Grid EA that trades along with FAP daily, even when FAP is in draw down. This adds steady profits while you wait.
The key is to have a group that you can trust in order to share ideas and strategies. FAP does work exactly as advertised and it is a long-term strategy vs. immediate profits.
Mark