Forex Autopilots are known as Robot trading or FX bot in the forex market. It is automated forex trading software that can be used by beginners as well as elite traders alike. If you have forex autopilots for your trading, you need not to spend long hours in front of your terminal to attend the round-the-clock virtual market. Here we plan to compare two popular forex autopilots, their advantages, loopholes, and effectiveness. These two are Forex Tracer and Forex Autopilot System or FAPS. Both of these autopilots are tested with real money and in actual forex investment and they are no way simulated results.
The first one, Forex Tracer, is an amazingly simple but extremely efficient Forex Trading autopilot. It made a whooping $18,000 in just 9 days. The system is completely automatic and needs no intervention from the trader. All the trader has to do is to leave the system up and running. A moderate computer configuration and fairly stable network connection is all that is needed. Even if you are completely new to forex trading or do not have any idea on the trading basics, you can run the system. It works for all currencies, place independent, and supports all trading strategies.
The Forex Tracer works day in and day out to earn money while you are asleep. It scans the forex market depending on the set criteria and enters winning trades. As the autopilot is strongly based on mathematical calculations, the signals generated are precise and timely. Technical and fundamental analyses are carried out continuously and all parameters closely observed before entering and exiting the trades. The system is purely mechanical in nature and therefore capable of making profitable trades one after the other. After meticulous testing Forex Tracer came out as the champion.
Forex Autopilot System or FAPS, on the other hand, failed to show promising results when tested using the same currency pair and trading conditions like Forex Tracer. This autopilot is a joint venture of Marcus Leary and Steven. Leary was himself a forex trader for long and Strauss is the programmer. You can independently check the demo account to realize the problems the autopilot has. Although the system is perfectly logical with strong algorithm, the first serious stumbling block is the speed. The system is so slow that it may take more than a week to make the first trade. For a highly volatile and liquidated market like forex this translates into huge opportunities and profits lost. Though, the autopilot offers a 60-day money back facility, you may not be able to test the performance of the system within the set period.
The second major problem this forex autopilot system has, which is even more severe than the first one, is it does not have a default stop-loss option. This can seriously hamper the performance of the autopilot, which you need to modify depending on the change in trading situation and strategies. As the program was tested along with Forex tracer, comparing these two became quite easy. When every parameter remained same, Forex Tracer returned a profit of $1,300. But it was zero (actually negative) for FAPS. We therefore strongly recommend Forex tracer over Forex Autopilot System.
