Running Forex Set and Forget on a live account?

A new customer contacted me today asking something like "I tried to run FSaF on my live account but I'm getting the 'Unregistered Account' message. What do I need to do?"

Here's what I told him and everyone else in this situation...

"DO NOT put Forex Set and Forget on a live account! Run it on a demo account for the first month. That is what the trial period is for. Then after a month, if you are happy with it, I will activate live account trading and you can put it on a live account."

I have a good reason for doing things this way...

Forex Set and Forget is not like other trading robots. Most people are used to robots that place several trades daily and capture 5 to 15 pips per trade. Most people are used to robots that have stop-loss of 20 pips or less. In other words, every time people look at their chart they expect to see their robot doing something.

What I just described is the exact opposite of what Forex Set and Forget (FSaF) does. FSaF will sit and wait for days and sometimes weeks before any trades are placed. A trading round shoots for as much as 600 net pips at a time. Stop loss can be as much as 300 net pips. Some people cannot stand to watch their robot hit a 100 pips stop-loss. So I say let FSaF run for a month, and in that time if you haven't...

• had a heart attack (drawdown induced),
• interfered with trades placed by FSaF (due to perceived drawdown),
• died of boredom (lack of trading activity),
• or just plain ran out of patience (waiting for trades),

..then by all means pay for a live account activation and put it on a live account. You are clearly ready for this style of trading. Otherwise no matter how well FSaF does, you will not be happy with it, so you better cancel and cut your "losses" before that month is up.

I apologize for being so blunt but this is the reason I turned off ordering for several months until this new version was available. People were complaining about the stupidest thing and I got pissed. Even though my web site says "try it for THIRTY DAYS...", here are just a few of the lame complaints I got...

"Please refund my purchase because..."

• The very first trade it placed was down by 30 pips so I turned it off
• I ran the EA for 2 days and it didn't place any trades
• It had 3 losing trades in a row
• Blah blah blah

I even had a very popular review site give me a bad review because the person who tested the EA somehow managed to run it on a chart without loading the proper Preset File for that chart (i.e. did not read the directions). Meanwhile, my LIVE ACCOUNT is up 400% in 6 months! So I'm sure you can understand my frustration.

Anyway, now you can try it for a month and if you're not overwhelmed with impatience and anxiety then you can put it on a live account and now you have a savings account on super-steroids :-)