Forex Auto Pilot Turbo review - Part 5: How to be succesful at Forex Auto Pilot Turbo - Sound advice to really make constant profits

In order to be successful at Forex Auto Pilot Turbo, previous Forex experience is not required, as you will only have to set it up following simple directions.  But a few advice and remarks will help ...

1) No matter how well a Forex robot seems to be live trading or backtesting, we can never know what the future results will be. Hence, you must employ adequate safeguards - sound money management rules. This is the KEY to successful LONG TERM wealth building via Forex trading.

2) Each opened trade stays in minus for some time because you pay the spread to the broker. That is OK. Sooner or later most of the trades will be closed in profit.

3) One thing to be aware of is that the scalper mode of Forex Auto Pilot Turbo requires a Broker with narrow spreads which means you need to scout around for the best broker.

Choosing a Broker

It is absolutely essential that you choose a broker that offer a spread of 5 or less on EURGBP between the hours of 21:00 and 01:00 GMT. This is critical to the success of Forex Auto Pilot Turbo. The following brokers are seen as Forex Auto Pilot Turbo friendly at the moment: Alpari, Forex.com and FXCM.

4) Using a VPS

  

While a VPS solution comes at a cost, it is an important option to consider when trading with a live account. You will avoid losing money due to untimely power failures and reboots. In my opinion, a VPS solution is a key component when it comes to minimizing risk, especially if you live in a country that has unreliable power and internet infrastructure.

5) Market Sentiment

Forex APT is an automated system that you can run 24/7, but sometimes it is just safer to turn it off under certain conditions. This system performs brilliantly under narrow, ranging type conditions, so if the markets are very volatile with huge price fluctuations, it is normally safer to just stay out and wait for the next day. It is also advisable to avoid trading on days when big news announcements are made. That's judging the market sentiment. It comes with experience.

Obviously, because this is a robot, FAPT does not require the skills that Day-Trading or even Swing Trading require. The mental approach, the system (stop loss ...) to follow at all times ... Those are fundamentals that Robots set you free from. Yet, there is one aspect of trading that remains: you need to TEST the SYSTEM for at the very least a couple of months. It is not because the Robot makes trades for you that there is no system. There are parameters to set up and, as automatic as they are, the trades are made according to a system.

Further, testing the system on Demo account first allows you to check if your broker is compatible with your current expert advisor. I cannot emphasize that enough: NEVER trade on the real account without testing on demo first. Maybe your broker takes your orders too slowly, gives bad quotes or has too high a spread or slippage. If so, I recommend you try the demo account with another broker.

In future posts, I will discuss the mental approach of trading. For those we read my blog , you know what I think: the right mental approach is more important than any system is. I will get back to that extensively later on.

Back to the review. All in all, Forex Auto Pilot Turbo is a profitable system, provided that you are not greedy and take a low risk approach - that's exactly what Forex APT was designed for. Part of a safe approach is to trade for a while - as long as it takes to get constant profits - on the demo account. If you need more time to feel comfortable, disable Forex APT on your live account for a while and see how things turn out.

Next time, I will post results I have gotten for trading on  Forex Auto Pilot Turbo.

Good trading,

Mark