Forex autopilot was the pioneer among commercial Forex Trading Robots .it was the first one to come onto the panorama of Forex business and consequently the most sought after product in the market before the FAP Turbo was introduced. The Forex Autopilot system employs different indicators to identify trends on the EUR/USD currency market and the result is quite an accurate system that has a success rate of round about 90%. The whole package of Forex autopilot comprises different components.
The trading system used by Forex Autopilot uses the trading system, which is based on almost 20 forex indicators such as DeMarker, Alligator, Fractals, William's Percent Rate, etc. Mostly the system adopts a 20 pip Take Profit limit, but unfortunately does not have any stop loss strategy to implement, and just applies its internal signals to close any losing trades.
The most explosive and volatile moment in the Forex market comes with announcement of monthly non farm payroll figures and if at that moment a trader acts correctly and makes judicious trade he can make hundreds of pips within no time as such. Therefore a robot which can catch that moment and steer the trader through the wide array of choices and decision can be a real help. The decision to enter a trade and exit it has to be made almost instantly, and herein Forex Autopilot would prove to be a useful guide.
Forex Autopilot package includes The Ultra Trend indicator, which is an assortment of indicators arranged and coordinated in a precise fashion that appears to be very correct in spotting and locating the direction and potency of the trend. It can also highlight the key support and resistance levels pertaining to any market trend. There is a detailed instruction manual, which solely relates to this indicator. This manual not only explains the setup and utilization process of the indicator but it also provides sample trading setups that a trader can use to trade with.
Forex autopilot gives the trader liberty to choose his range of capital inflow. Though it recommended capital range of $2,000 and $5,000 USD but a trader can start business with amounts lesser then the prescribed capital floor. It depends on the rules of the broker you chose but Forex Autopilot gives you the scope to even trade with 500 "USD as well.
The program offers four time frame settings for Intraday trading, namely, 5-minute, 15-minute, 30-minutes or 1-hour chart.
It can be used anywhere in the world , around the clock, even if a trader is busy in some other chores. it operates even if the trader is asleep. Any interested buyer or the trader has the chance to test the program without risking his capital by first training on a demo account and as such no trading experience is necessary to operate the system.
One big problem is that this software does not employ any stop loss strategy. It just uses the 'Fibonacci Formula' to determine the most beneficial time to enter and exit the Forex market.
With the Forex Autopilot package comes a 74 page advanced Forex trading guide for those who wish to learn more about things like Scalping, Martingale, Money Management and many others. Along with the instruction guides and manual Forex Autopilot also provides 24-hour customer support service. The moment a trader sign up, he is given a dedicated telephone number to use anytime he feels the need. For a novice trade this feature can be really helpful.