Forex Autopilot Review

Important Note: This is a review, No fluff, No filler just what you want and NEED to know before purchasing.

Forex Autopilot is a sophisticated automated Forex trading system built on the Meta Trader 4 platform. The fully automated nature of the robot makes it an ideal solution for those looking to profit in Forex without spending hundreds of hours climbing the Forex learning curve.

What Is Forex Autopilot?

Forex Autopilot is what is known as an Expert Advisor for the Meta Trader 4 platform. An Expert Advisor is a custom set of trading rules that make up a trading system which is executed by the Meta Trader 4 platform.

If you're new to trading system development and in particular automated system development and testing then you may be unfamiliar with the Meta Trader 4 platform. Meta Trader 4 is a free windows based application used by trading system developers to create and test Forex trading systems using a custom programming language known as MQL. A copy of Meta trader 4 is included with Forex Autopilot.

With Forex Autopilot the programming is done for you and provided as an Expert Advisor. The idea is simple, you set up the software and it analyzes the trends in the market and places your trades for you.

Here are some details worth keeping in mind as you consider Forex Autopilot

1.Marcus Leary claims to have turned $2,910 into $8,916.29 in 3 weeks. That's 306%

2.Marcus Leary generated over $1,000,000 in 12 months, though it's not clear the initial size of his trading account

3.93% of trades were winners during back tests against historical data for the past 5years (you can test this yourself with Meta Trader 4)

4.Forex Autopilot does NOT use fixed stops

5.You can set position sizing using either a fixed number of lots to trade or by percentage of account balance.

6.Optimized to trade EURUSD

7.Uses the free, Windows based application Meta Trader 4 as its trading platform

8.The Meta Trader 4 platform is design for testing as well as trading. You will easily be able to test the system both with historical data as well as future data using a live paper trading test account before you ever put real money on the line

9.Can be used with any broker that supports Meta Trader 4. No worries, there are many of them

10.The www.forexmeta.com broker that's recommended by Forex Autopilot is actually the www.FXDD.com broker. The Forex Meta Broker is essentially a reseller of FXDD services. When you trade, deposit and withdraw money you're dealing with FXDD

11.If you open an account with www.forexmeta.com, using the link provided with your purchase, and make 40 full lot roundtrip trades in the first 60 days of the account you'll receive a $100 USD bonus in your trading account

12.The user's guide is reasonably well written and not only steps you through the installation and activation of the software but also how to back test it against historical data. Back testing does indeed show similar results as those claimed on the sales page. More on this later

13.In addition to the user's guide there is a 74 page Forex eBook designed to give you the background to understand the mechanics of the Forex market. This book is a general guide to Forex and can be used with any forex system.

14.Retails for only $97 USD

15.Comes with an 8 week 100% money back guarantee

Forex Autopilot Back Testing Results

Every new trading system should be tested before real money is put on the line. Fortunately this is easy to do and the Forex Autopilot manual shows you how.

Although the past does not equal the future, testing your system against historical data can give you some rough idea of how the system may perform in the future. At the very least it will give you some idea of its performance characteristics in different trading conditions.

The baseline provided via back testing will not only help you verify the product makers claims but will also give you the confidence you'll need when there is real money on the line.

Here are the results I found for both a 12 month back test and a 5 year back test of Forex Autopilot using the default settings with 1 minute tick data. (full reports open in new window so you may need to turn off popup blockers to view them)

BTW, you can perform and verify these tests yourself once you have the product.

Forex Autopilot 12 Month Test



162 Trades
93.21% Profitable Trades
116.06% ROI
59.36% Maximum Drawdown
Average Consecutive Wins: 13
Average Consecutive Loses: 1

Forex Autopilot 5 Year Test



630 Trades
93.17% Profitable Trades
395.71% ROI
57.23% Maximum Drawdown
Average Consecutive Wins: 13
Average Consecutive Loses: 1

Forex Autopilot's 93% of profitable trades is incredibly high and incurs some pretty large open trade drawdowns to acheive this. However, historical tests would indicate that over the long haul the many small wins will out pace the few large loses provided you're willing to ride out the losing trades.

Although Forex Autopilot does place 'take profit' orders at 20 pips to ensure it captures some profit when it occurs, it does not use protective stops to protect your down side. The documentation strongly recommends AGAINST adjusting the stop and take profit levels. I tried it anyway and it does indeed degrade performance.

Regarding position size, the default is to use a fixed position size rather than a fixed percentage position size. This is not the best way to do it as it not only increases your risk per trade after each losing trade, but it also slows account growth after wining trades.

A fixed percentage of your account will adjust the position size up and down as the account grows or shrinks and is generally a better idea. And you can set Forex Autopilot to use a fixed percentage but this is not the default.

Forex Autopilot Recommendation

There's a lot of psychology in trading and as a consequence different trading systems will work (or "fit") one person better than another. The only way to know if Forex Autopilot is the right trading system for you is to try it out. That's what the 60 day guarantee is for!

No matter how many reviews I read on a particular trading product I will never have the same confidence that I get from actually testing the product myself!

So give Forex Autopilot a Risk Free try and decide for yourself.

This is how easy it is ...

1.Buy Forex Autopilot

2.Open a FREE paper trading account (fake money account explained in product instructions)

3.Paper trade the account until your comfortable. That's what the 60 day guarantee is for!

4.Watch your account grow!

5.If you’re happy keep it, otherwise return it

6.The 60 day Guarantee and paper trading lets you test drive Forex Autopilot allowing you can make your own decision without risk

Buy Forex Autopilot Now

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