Forex-Autopilot-System.com Review

I have used the ForexAutopilot by Marcus leary on EUR/USD pair only. It work wonders on my demo ALPARI UK account. i just tweak the software a little bit with the default take profit of 30 pips and clear off the trailing stop. I then set a huge stop loss of 300pips. I had also trade a very small micro-lot size of 0.2 lot size as if "im trading with real money" so far so good. I will review it for another 2 more weeks then i will go live on this EA. Happy Trading to everyone and remember the idea is take many times of small profit and don't be greedy cause greed will kill you eventually. Cheers, Keith.

ok I have tested on other demo account and found the same results,one of the problems i have with this program: that it makes profit however because of the stop loss it losses the profit it could of made it not like it trading at a loss it does not know when to take the profit before it is loss thus you make unnecessary loses. the powers at be just need to sort out there settings on this program any live traders out there if so with what broker? ( yes I was watching all the trade made) I could of maximise my profit if I had manual did the stop losses

Review Moderation Note: Ann, can you please use the "Contact Us" link on the bottom of the page. Thanks.

ok I used this on my demo and I am in profit however since going on youtub and seeing other comments i have come to realise that it work well on demo but on real live trades it is rubbish, this is taken from individual review I am not an experiences trader but I am guessing that either the demo account is different from the live account or there is a setting on this program that does not work well with real live trades I going to test it with another broker demo account and see what happens

Guys please, just think.

Why on earth would somebody who has developed a system that consistently makes profits sell it to you?

Again, just think. This does not make sense.
In fact, if you have purchased one of these systems or are even considering to buy one, I end your trading career here.
I do not want to insult, but you are lacking common sense and I can guarantee that you will lose your money.

Ok here

I tested forexautopilot on demo.
I use the default setting and blown up my account :(
I use other setting which is have 100 pip SL, so far so good
U can find the result on http://duyduyfx.blogspot.com

Iam back again with new update. This time I will be very short. Previously as I have mentioned charts set on 1hour timeframe did produce very poor result I had to stop GBP/USD manually as it sold on top and as you know the Pound exploded upwards. I have also mentioned that I had set my other charts on M15 charts eight pairs with 2-3 pips spread. This setting made me more than $12000-00 in three weeks period. big problem is as the EA buys on highs and sells on lows there can be unconfortable draw down which if left ,it returns into profit during large volume times when price returns to where it was before. To compare it to other Ea`s I have tested thisone is basically the same, but works much better whem caution is employed. My setting now is that I trade only two pairs, does not matter which, on fifteen minute charts with second computer. The result is quite good, The EA`s initiate 10 to 12 trades per pair per day which is much more manageable with less drawdown. This way it earns me about $150-00 per pair. When you account for compounding it can earn you some good money on the long run without much worry or sweat. To summarise -I like this EA.
Wishing you well and may your Easter eggs be filled with many pips.

2008-02-28 4 Stars I want to add to my previous comment on February 2o.From that day until today Febr 28 EA earned me 635 pips, all trades were winners. I have screwed up when I closed MA4 while in the trades. Since I was short with JPY/USD every time I closed and then opened my MA4 it automatically entered new sell the moment MA4 was loaded. This way there were opened four trades.I did not notice it untill it was too late, so I manually closed them as Jap Yen started to reverse so I lost twice 14 pips and twice 8 pips. Do not close MT4 while in open trade. I am very satisfied so far. Give them 4 Stars for now.
Today I have installed another ForexAutopilot which works this time on 1minute charts. No trade yet. Will inform you next week how it is doing. I got it for $49 US. The booklet and instructions are first class. But what I am excited about one of their bonuses. They created custom indicator called ULTRA TREND you can trade this indicator on its own! Simply said EXCELLENT. I have written to Markus to add to it an audible alarm when it crossess, then it will be PERFECT. Will let you know what happens.
Ferdinad

2008-03-01 Update Here is my third comment about Mark Copeland`s AutoPilot.
First the e-mails we exchanged:
Myself to Mark
Your system is amazing it made me 654 Pips since I installed it on Febr 20. One thing is bothering me;Isn`t 255 pips take profit bit too much? I`m short in USD/JPY , Take Profit is at105.55 it never been there except on Jan23. Should I stop the trade when it reaches lower Bollinger Bands at106.00?
Sorry for taking your time.
Regards,
Ferdinand
Mark answers:
Hi,
Everything has been set properly so that the system can automatically trade for you. However if you are an expert in MetaTrader and you are so confident about your money management strategies, you can change some settings (stop loss, take profit) to suit with your trading styles.
Myself: I was still concerned about stop loss.
Here what Mark says:
Hi,

Even your trade is negative, please don't worry, the system will automatically deal with it. Someday there might be no trade. Please be patient, it will work. Stop Loss set to 0, it does not mean the system doesn't have a clear stop loss or take profit strategy. Everything has been set properly so that the system can automatically trade for you.

Thanks,
Support Team,
Forex Autopilot System
This answer only slightly comforted me. Also I had another problem trading only one currency pair, fearing there will not be enough trades to earn decent money in the long run. So I placed his EA on eight pairs which have only 2-3 pips spread. Mark reccommends to trade Daily GBP/USD charts. Not happy earning "only" 654 pips last week I set four charts on D1 then other four M5,M15,M30 and 1hour chart. The four Day1 charts did not have any entries. M5, M30 and H1 also did not have any trades. Boy!!! was I surprised to see 35 trades on USD/CAD! Six were closed two with some loss and 29 still in trade all in profit! Since it was about 15 min to Friday close (29 Febr) I have closed them all manually. The profit:606 Pips clear. Today I have set Four of my charts to D1 and four charts to 15 minutes charts and will monitor then what will happen on Monday.
We`ll meet again next Sunday with new report.
No ratings to this comment today.
May the Pips follow you all!
Ferdinand

Your product seems like a hash of old ea's put together into one "amazing software package". Its recycled, that's what it is.

Anyhow, the site screams scam all over it, the pictures of the Bentley (with matching licence plate number: RX55KCF) you "own" is the same one put up for sale on http://www.ukmotorbuyer.com/Vehicles_Display.asp?p_ref=6522

Buyers please beware.

First a clarification about "Autopilots".
One "Forex Autopilot System"is marketed by Mark Copeland. It is a "black box" There is only one EA. This "autopilot is very slow in my experience takes 2 or more days to find a trade. According to the author is "primed" to trade GBP/USD Day 1(daily)but can also trade other pairs. Again it takes ages to find a trade and then the results are mediocre. During the trial period of 2 weeks the demo account had 3 gains and 7 losses and was down by $1100. I cannot say what it could produce in longer trial as I got rid of it.
The second "Forex auto pilot System" (FAPS) Is marketed by Marcus B. Leary.
There are 8 EA's and 2 bonus (one EA and one custom indicator)
I will post soon a separate review.

I purchased this software, then immediately felt like I had been suckered into a "bait and switch." The web site shows extremely profitable Performance Results for a system that placed 813 trades over a 4 month period. Then the downloaded documentation was that this is a DAILY system. Furthermore, the site shows 1-hour charts. I emailed Mark Copeland with specific questions about these issues. He responded with an answer that didn't address my questions. I sent a second email, reiterating my questions. This time, no answer. The only reason I'm not rating this a SCAM is because I did get a refund from Clickbank. I don't know if the software actually works. It certainly isn't what's promoted on the web site.