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The Forex Autopilot
System (FAPS) is an Expert Advisor (EA) created and is marketed by Marcus Leary, an active
forex trader and Steven Strauss, a programmer. An EA is simply an automated forex trading system. Like most EA's,
the Forex Auto Pilot System was created to work with Meta Trader 4 which is the basis for most online trading platforms.
How the Forex Autopilot System works
To use FAPS you must have an online forex trading account. Once you open the trading software you then open the
Forex Auto Pilot software and fill in the requested information. Once you have entered the information click start.
The application is easy to use and is user friendly.
Does it work
The quick answer is yes. However testing has shown that it works best and most consistently on the EUR/USD pair,
which is what is shown in their marketing videos. Other currency pairs, though posting a profit, did not perform
as well as EUR/USD. Forex Auto Pilot is also most effective on longer trades.
Biggest advantages
Detailed training is included with the purchase of the system. There are step-by-step blueprints on how to use FAPS.
Also there are a lot of resources related to the Forex Auto Pilot System software. In fact this Forex Autopilot System
software is so popular a separate users and support group has sprung from it to further assist in training and use of
the software. In general, the Forex industry offers the advantage of working from home.
Biggest disadvantages
The two disadvantages that stood out were noticeable but not a deal breaker. The first was FAPS's lack of a stop loss
setting. However this seems to just be part of a trading strategy they use in the algorithms of the software.
We suggest a thorough understanding of basic Forex concepts before relying on an automated Forex trading system.
The other disadvantage was that there is a lot more to learn about Forex trading than the Forex Autopilot marketing
material leads you to believe. They claim you can be trading within a few minutes but to trade wisely you likely
need a week or two unless you are thoroughly familiar with the Forex market.
The Forex Autopilot EA is downloaded from
their website and installed on your computer. We found the
Forex Autopilot download, installation and configuration easy enough for an average computer user to accomplish.
A computer with a high speed internet connection is best for Forex Autopilot work.
If you are wondering if there is anything to a "Forex Autopilot scam"
we would have to say no. All software,
automated forex trading system software included, flakes out on occasion, nor can it make up for the users
lack of understanding. For example: If you do not know how to write, a word processor cannot help you. When you buy this, or any
automated forex trading system or other forex product, be
sure you learn about forex before investing.
The Official Forex Auto Pilot System Website
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