Forex Autopilot Reviews - What The Others Do Not Reveal

Forex Autopilot, a new forex automated trading system, hit the market earlier this year, fronted by Marcus Leary. Right away, Forex Autopilot reviews started springing up all over the internet. Most of them raved about it. But what is the truth?

The Forex Autopilot robot is billed as a total solution for the lazy and ignorant John Doe who wants to make a lot of money without doing any work. All he needs to do is put in a couple of clicks of his mouse every now and again while he sips at brightly colored cocktails on a tropical beach. Most of us are suspicious of this kind of marketing, reminiscent of a Forex scam … but the image is still seductive.

So how skilled do you have to be to make money with the Forex Autopilot robot and how much time does it take?

The fact is that technically this Forex automated trading system could easily be managed by a complete beginner. The instructions are all there and anyone capable of buying and downloading it should also be able to set it up quickly.

After that, the difficulty you are likely to have with this or any Forex automated trading system is that you will want to spend MORE time on it than you should. Constantly watching and fiddling with the settings is probably the worst thing you can do. From this point of view the totally ignorant person might be the ideal user.

However it is helpful to have at least some knowledge of Forex and some experience of similar transactions (e.g. stock or options trading or even horse racing bet trading), just so that you understand the mindset. The occurrence of losses is minimized in the Forex Autopilot robot which reports profitable trades of between 93% and 96%. This is great, especially for encouraging those new to trading, but it means that when a loss does occur, it is greater than if you were taking small losses more frequently.

This means that a person who is unlucky enough to start with a loss before they have built up good profits might possibly see their initial balance wiped out. This could be catastrophic for a beginner who might lose their courage and drop out without giving the software a chance to make up the loss. In the longer term of course, the reported results are very good.

Obviously you are advised never to risk more than say 20% of your available funds at one time, so that even such a loss would not break the bank by any means. However, for a beginner it is vital to get used to the feel of trading before risking real money.

To this end, the Forex Autopilot robot offers a demo mode which I would advise anyone new to trading to use for several weeks before starting to trade for real. In fact, this would be wise for all purchasers of the system. There is a no questions money back guarantee on the software for 8 weeks, so why not run the demo version for most of that time. If you are not happy, you can get a refund without ever having risked any of your money. But I think you will feel confident enough to begin using it before the 8 weeks are up.

To discover more about the Forex Autopilot system click here. And if you want to get it from my Forex Autopilot review, use this coupon code to get yourself a 75% discount: 75off