I think if you are holding a number of longer term positions, you can use this as a short term scalp while your are away.

While it works best in the direction of the trend, I've had some success using it to hedge against longer term short positions in a ranging market.

Still don't trust it, but I have added pips while waiting for a larger move. Stop lost a bit larger than the ATR.

Jim

Yep, that's one - innovative - way of using it.

Well folks, true to its coding FAPS closed a large floating losing trade today as the start of a new month came around.

111919115 2008.08.04 14:31 buy 0.10 eurusd 1.5621 0.0000 1.5641 2008.09.01 00:00 1.4699 0.00 0.00 17.78 -922.00

Now my account is -$1063 in the red. At 20 pips per winning trade it will take a LONG time to recover - if ever.

__________________
http://alansmoneyblog.com - All about money - how to make it, and how to keep it
http://alansforexblog.com - Pip'n ain't easy!

So guys, how's the testing going? Is it just me or is FAPS doing particularly badly in the last month or so.

__________________
http://alansmoneyblog.com - All about money - how to make it, and how to keep it
http://alansforexblog.com - Pip'n ain't easy!

Hi everyone, new to this forum and thread. Great forum by the way, excellent for us newbies that don't have much a clue but trying to learn.

Anyway they have just released a new version of this. I think someone mentioned it earlier. The email I got claims the changes are...

"- New optimized algorithm to decrease the possible
drawdowns and increase the profits
- Global MA indicator trend control feature. Now FAP works
great for both bullish and bearish trends!
- Adjustable times. You can now set the exact time you want
FAP to start and end trading!"

Like I said I'm really new to this EA. In fact this is first EA I've tried. Has anyone tested the new version and how do you find it compares to the older versions?

Hello All,

I received an E-mail today. It seems there is now a new version of FAPS available that corrects a few things and upgrades a few others.

A quote from the E-mail....

"The new forexautopilot boosts the effectiveness,
eliminates its greatest weakness (the bearish oriented
market)and works now exceptionally well in both market
directions.

The latest
changes include:


- New optimized algorithm to decrease the possible
drawdowns and increase the profits
- Global MA indicator trend control feature. Now FAP works
great for both bullish and bearish trends!
- Adjustable times. You can now set the exact time you want
FAP to start and end trading!"

Members: Simply redownload the robot from your membership
urls! free of charge as usual

Sounds exciting!

-Jaddates

Yep, I heard about it too. I was just about to announce it on my blog. Hmm, hopefully this latest version will truly perform better in downtrends as they say. Time to slap it on my demo account see how it performs.

Happy testing everyone.

__________________
http://alansmoneyblog.com - All about money - how to make it, and how to keep it
http://alansforexblog.com - Pip'n ain't easy!

Hi all, I'm new to this forum but I see it's run well and has a good bunch of folks. I've been testing and optimizing the
FAPS EA over the last month and have mixed feelings about it.

I grabbed the new version of the EA right when it came out on the 1st and I quickly put it to work. In my live demo account,
using the default 100 period MA, the new EA hasn't made even one trade. I can't see how the EA responds to the MA trendline
as glancing at it, it appears a sell order makes sense.

In my one year back test that compared the old EA (v2.5) to the new one (v3.1) I'm NOT impressed. I found that although
the new EA made quite a few more shorts than the old one, it still killed itself in August by making a disastrous buy order.
The old EA gave me a 16% return from 8/27/07-8/27/08 while the new one gave me a 41% return for the same period.

This sounds good and is an "improvement" but I give it a failing grade as the the new EA lost $7000 in August while the old
one lost $8000 in August (1 lot size). The old EA made a disastrous buy order 8/04 while the new EA simply made a few short
sells early August then made its own disastrous buy 8/07.

The promo email I received today from the auto-pilot creator makes it sound like the EA is somehow fixed but in my opinion it is not.
It's still an account killer when presented with a big downtrend.

Bottom line is this. A new trader using FAPS would still have blownup his account in August, and the new version wouldn't have helped.

I can tell you that right now, 42 minutes after you posted the time in the UK is 21:30 That's including daylight savings though so you may want to subtract an hour.