Forex Autopilot Software Review – Is Forex Autopilot by Marcus Leary Scam? Does It Work?
The Difficult Learning Curve Of Trading Forex
If you have tried trading the Forex market, you may already realize that there is no guarantee of profits, no matter how much time you spend trying to learn it. This is because no one can predict the market conditions perfectly. Statistics today show that almost 95% of Forex traders lose money.
To maximize your profits in Forex trading, you will need the right systems to maximize your chances.
A new software, called Forex Autopilot, is programmed with automated trading methods. After looking at this idea, I was excited about the possibilities, since it would potentially allow me to trade in the foreign exchange market like a professional trader without much attention on my part.
So, 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 ForexAutopilot the programming is done for you and provided as an Expert Advisor. The idea is simple, you set up the software and it analyses the trends in the market and places your trades for you.
My Experience With Forex Autopilot
So do you really need to know nothing about Forex if you want to use the program? Having downloaded and tried the software myself, I would think not. Before you start using this software, you should still have a basic knowledge of Forex Charts and some understanding of technical analysis. This is so that you can understand what exactly the robot is doing.
How Does Forex Autopilot Work?
This bot basically imitates the actions of a trader, and works automatically to identify optimal entry and exit points. It picks up its own signals without any action from the user.
If you read the Forex Autopilot System authors disclaimer, you will understand that even with the help of this automated bot, your trading activities will still involve some form of risks. But once you understand that you are only taking calculated risks, you should expect a realistic 5 to 10 percent returns with this system every month.
Last Word
My final conclusion is that Forex Auto Pilot system is not a scam or a pure garbage but it sure isnt the holy grail either. It is somewhere in between as one should realistically expect. It does make money but it also loses it just as easily.
Since past and present performance does not guarantee future success in the forex world, Id have to give this EA a tentative recommendation. Im just not 100% decided on this product. Ill have to see how trading on a live account goes.
BUT I would STRONGLY suggest you take my advice and please make sure you DO NOT overleverage your account when using Forex Auto Pilot EA. Dont get greedy or youll regret it.
