The Foreign Exchange market, also referred to as the "FOREX" or "Forex" or "Retail forex" or “FX” or "Spot FX" or just "Spot" is the largest financial market in the world, with a volume of over $2 trillion a day. If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really is. It actually equates to more than three times the total amount of the stocks and futures markets combined! Forex rocks!
Charles is a professional forex trader with over 20 years of experience.
He personally manages assets for Marcus B. Leary and for other small but select clients worldwide.
He is the founder of FAPUG, the official website and community for FAP users, and is the creator of the FAPTS trading Plan. Charles has also personally designed many expert advisors, including the famous hedging EA that serves as a trading companion to his own custom and optimized version of the FAP EA.
YES! Once you learn the FAPWINNER.COM "3 Touch Method", you LITERALLY can set it and forget it! It is perfect for those that don't have time to sit and stare at a screen all day!
Free demo accounts are available with most Forex brokers. These accounts have all the capabilities of a "real" account and allow you to test your trading skills with ZERO risk. You should demo trade for at least 2 months before opening a live account and using real money.
Forex Autopilot (F.A.P., ForexAutoPilot.com) is a fully independent software robot which trades the foreign exchange currency market on autopilot 24 hours a day. Robots such as Forex Autopilot are called “Expert Advisors” or EA’s, and are attached to the currency charts in the trading platform software which is provided by forex brokers.
Forex Autopilot is proven auto-pilot software with an in-built advisory system, developed by a professional team who have combined expertise in forex trading, mathematical logarithms and programming. Forex Autopilot users also have the backing of an active and extremely informative user group which provides instant help, assistance and information for both experienced and new users.
Yes. Forward and back testing on demo and live data is available to show accurate results of using Forex Autopilot over time. Members of the Forex Autopilot Users Group (F.A.P.U.G.) also have access to a live account which is trading Forex Autopilot according to recommended guidelines.
Here are few links with results:
http://awealthyguy.com/result.html
http://forexautopilot.com/faps.gif
http://forexautopilot.com/dude.JPG
http://forexautopilot.com/backtest.jpg
Forex Autopilot is designed to work with the forex trading platform Metatrader 4, which is now offered by many of the leading forex brokers. Metatrader 4 can be downloaded for free from most broker’s websites, usually via a “download trading platform” link.
Once you have downloaded the zipped file containing your Metatrader 4 software, unzip the file and follow the prompts provided. By default, the software will install in your Windows Program folder and will be given a name provided by your broker. For example, Interbank FX – Metatrader 4. If you wish to install more than one copy of the Metatrader 4 trading platform, make sure you nominate an installation folder with a different name during the software installation.
Absolutely, apart from space on your hard drive, there is no restriction on the number of Metatrader 4 trading platforms you can install. You simply install the software into folders which have different names to avoid confusion.
When Expert Adviser robots are shown in grey it simply means they don’t have open source codes. As long as the smiling face is visible at the top right of the trading chart when Forex Autopilot is attached, you can be sure it is working properly. You will note that the free sample Expert Advisors provided with the Metatrader 4 Trading Platform, such as “MACD Sample” and “Moving Average”, are shown in yellow – that is because they have open source codes.
Once Forex Autopilot is attached to a Metatrader 4 trading chart, a little EA face appears at the top right of the chart. When Forex Autopilot is working properly, the little EA face becomes a “smiley face”.
FAP is designed to be traded on 1 currency pair EURUSD ONLY, on a 1 minute time frame. Currency pairs other than the EURUSD can not be traded with the Forex Autopilot EA.
Although the default FAP setting show a stop loss of zero, FAP has an internal stop loss that is triggered by the internal settings and indicators. Setting a hard stop loss can be an open invitation to many brokers who see your stop losses and can and will manipulate prices to hit
it, and take your money. FAP has 96% accuracy without a stop loss. However, a custom stop loss can be set manually for those too uncomfortable trading without a stop loss.
There is no need to monitor FAP while it is working – it is designed to be a “set and forget” system. The software will monitor the trades and close positions if needed.
FAP can be successfully traded with minimal human intervention. When reports are due out, such as the NFP on the first Friday of the month, our recommendation is to do NOTHING. However, for those who are nervous and trading with “scared money”, the option is available to open no positions 1 hour before or after the news release.
The reason Forex Autopilot is designed to close bad trades at month-end is both logical and practical. By closing the bad trades, traders are able to take a fresh start going into the new month. Tests have shown that once the draw-down has been exited, the loss taken at month-end close can be gained back within 2-6 days of the new month.
The other reason is the emotional reaction which can drive many to hang on to a bad trade hoping it will come back. By allowing Forex Autopilot to close bad trades automatically at month-end, the decision is taken automatically without emotions interfering.
Drawdowns are a normal and natural part of forex trading. There is no way to avoid them. The only real way to control them is to get out of them. FAP closes all negative trades at the end of the month.
Some FAP settings need adjusting when using with brokers quoting with 5 digits:
Take Profit = 250
Trailing Stop = 200
Slippage = 30
For brokers using 4-digit price quotes (for example Alpari and InterbankFX) use the default settings provided with Forex Autopilot, or the optimised FAPTS settings.
If you are getting power outages, or have poor internet connection, then you may want to consider buying a subscription to a virtual server. A virtual server resides at someone else's location that is shared by multiple Web site owners, so that each owner can use and administer it as though they had complete control of the server. This eliminates the problem of bad internet connections very nicely.
No, there is never any need to change the "Magic Number". It is used by the Forex Autopilot expert advisor (EA) to distinguish its trades from the trades of other EA’s you may be using.
The latest version of Forex Autopilot allows trading of more than one EA at the same time. Earlier versions of the software do not have this feature. The “Magic Number” field keeps each information relating to each EA separate.
F.A.P.U.G. stands for Forex Autopilot Users Group. It is a non-profit group set up by Charles Floyd for the sole benefit of Forex Autopilot users worldwide to provide a central source of information, help, support and discussion about Forex Autopilot. The stated goal of FAPUG is “to provide a community of mutual support and encouragement for and from each other and use FAP to achieve our financial dreams”.
F.A.P.T.S stands for Forex Autopilot Trading Strategy, and is a COMPLETE trading plan to guide you into forex trading success. The FAPTS includes:
* A personalized, custom trading plan for ANY size account.
* The optimized FAP settings
* A daily financial goal
* An automatic signal indicating when to increase/decrease your lot size.
* A specific plan to reach $1,000,000.00 in approximately 2 years.
