Review of Forex Auto Pilot by Marcus Leary
Rating: 3.7/5 stars
Price:
$99.50
Marcus Leary's Forex Auto Pilot, also politely known as F.A.P., seems to suffer from the same shortcomings as other so-called "automatic" forex software products (namely, on this review site at least, Forex Killer). If the user is not well versed in at least the basics of forex investing and trading, he may be in for quite a shock if he just allows the program to call all the shots for him. While, if you have some experience in the ups and downs of forex trading and know what you are looking at in terms of what the charts are telling you, this software program may actually enhance your trading ability.
Forex Auto Pilot is a trading software which was developed by Marcus Leary (an ex-Forex trader himself) and a mathematician/programmer friend who also has many years experience in the market. They set out to create an automated trading robot similar to those in use by many of the worlds largest banks and corporations around the world, but specifically designed for the individual home trader. And based upon the experiences of some of its users, they have succeeded.
Forex Auto Pilot is a software which utilizes an Expert Advisor (EA) that can trade on the foreign currency exchange markets. It attempts to determine, through the use of something that Marcus calls the Fibonacci Formula, the most beneficial time to buy and sell in the forex market. One of the recent changes made in the product now enables it to open several trades at the same time, to work with other EAs and manual trades, and to use a trailing stop. The developers, it seems, were hearing a lot of negative feedback about the product's inability to utilize stop loss points in the trading procedure and decided to respond to this feedback by installing such in the product.
Another of the advantages of the Forex Auto Pilot software as opposed to other such software products currently on the market is the amount of support that is given to the inexperienced user. Not only is the user given a phone number to call for quick answers to question they may have about the product or its usage, but there is also a forum that has been set up (the Forex Auto Pilot Users Group or FAPUG) online by one of the prominent users of F.A.P. Both sources provide needed support of the product and its proper usage.
One myth that needs to be exposed, and which Marcus himself rightly even admits, is that this software system isn't going to be creating millionaires overnight. Although it does have the potential to create a daily income of several hundred dollars per day, which may allow some to quit their day jobs and trade full time. For the inexperienced user, the biggest hurdle to overcome will be the accumulation of working knowledge in forex trading needed to help one become an expert user of the product. If one is going to be working and trading in the forex market, it behooves one to at least become knowledgeable about the subject matter, if for no other reason than to improve one's trading abilities.
For this reason, we can recommend that people check out Dean Saunder's 10 Minute Forex Wealth Builder material in order to bone up on some of the basics of successful forex trading, which includes how to place proper stop loss as well as take profit orders. The combination of these two systems may be just what some F.A.P. users find a winning necessity, as they combine both trading knowledge and automated software system together. Our review of Saunder's system can be read by clicking on this 10 Minute Forex Wealth Builder link.
Overall, Marcus Leary's Forex Auto Pilot seems to be a well thought out and supported software system for investing and trading in the foreign currency exchange market. We would only caution that people not blindly use the product in the hope that it will be a panacea to solve their financial income needs. Potential buyers of this program need to also be aware that the Forex Auto Pilot system works with MetaTrader4 platform only. If users will do their homework and prepare themselves with the proper knowledge and training, performing successful paper trades before they attempt to begin making live trades, then we see little problem with the ability of F.A.P. to enhance their trading bottom line.
Click on the Forex Auto Pilot link to learn more about this opportunity.
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