Pilot Trading Review – Do These Trade Signals Work?

Pilot is a mobile trading signals app that’s designed to help you find stock, forex, and cryptocurrency trading opportunities. The app uses an algorithm-driven approach that requires a lot of trust – Pilot doesn’t offer details about how its signal algorithms work and there are no charts or Level 2 data available within the app. Pilot does have a demo mode, which allows you to try out the app and signals before committing real money to them.

So, is Pilot the best trading tool for you? Let’s take a closer look at what this app can do in our Pilot Trading review.

Pilot Trading Pricing Options

Pilot Trading is free to try for 14 days, then costs $19.95 per month. You must sign up for a paid subscription to continue using paper trading with Pilot after the trial period ends.

What Is Pilot Trading?

Pilot is a mobile app designed to help you spot trading opportunities and act on them. The service supports stock, forex, and cryptocurrency trading, with more than 37,000 securities in total.

What makes Pilot unique is the set of four algorithms that it is built around. These algorithms – Perception, Commitment, Equilibrium, and Sentiment – use a combination of price movements and Level 2 data to predict when an asset will move sharply upward or downward. 

Trading With Pilot

You get two pieces of information to trade with when using Pilot. The first is an ‘opportunity score’ on a scale from -100 (sell) to +100 (buy), which is assigned using the combined outputs of all four of the software’s algorithms.

The second is a series of four lights, each of which corresponds to one of the four algorithms. When the light is turned on, it signals that one of the algorithms is signaling a trade. Pilot doesn’t offer information about scores or other values output by each algorithm, so it’s not clear what threshold the lights represent.

When an opportunity score gets above +80 or below -80, the score starts flashing to indicate that this is a strong trading opportunity. At this point, you can also double-tap the opportunity score to place a trade of a pre-set size instantly. (Be cautious using this feature, as it’s easy to accidentally place a trade twice when tapping.) You can also place a trade manually with Pilot at any time to modify your trade size or to use a limit order.

Pilot doesn’t offer charts, Level 2 data, a news feed, or any other information to help you understand a trade. The only pieces of information available are the opportunity score and the four algorithm lights, so you have to trust in the trading signals to an extreme degree to use this app.

Paper Trading With Pilot

One nice thing about Pilot is that you can try out the app extensively to build trust in the algorithm-driven approach. The app offers a demo mode, which delays price data by 15 minutes, as well as a simulation mode that allows you to trade using historical data. You can reset your paper trading account at any time.

Pilot Trading Compatible Brokers

Pilot is compatible with a number of stock and futures brokers, including TradeStation, AMP Futures, Interactive Brokers, GFF Brokers, and Questrade. The service also connects to nearly a dozen cryptocurrency exchanges, including Kraken, Binance, Coinbase, BitFinex, and Gemini.

If your broker isn’t compatible with Pilot, you can still use the app to view trading signals and place trades manually through your broker.

Pilot Trading Platform Differentiators

Pilot offers algorithm-based trading signals to help you spot trading opportunities in the stock, forex, and cryptocurrency markets. The fact that this app’s algorithms track over 37,000 securities is a major plus, as is the simplicity of interpreting the opportunity score. Pilot also integrates with a number of brokers to make it easier to trade on its signals without a delay.

However, Pilot doesn’t provide much information about how its algorithms work or what the setup is that you’re trading. Importantly, there are no price targets or stop loss levels included with the opportunity score, so you’re left somewhat in the dark as to how to manage your trade once you enter a position.

What Type Of Trader Is Pilot Best For?

Pilot is best for traders who want to incorporate algorithm-derived trading signals into their strategy. While Pilot’s signals can be used on their own, they are more helpful when combined with a charting and research platform. Traders should be confident with identifying exit points when trading on a signal from Pilot, since the app only offers information about entry points.

Pros

• Inexpensive trading signals
• Tracks over 37,000 securities
• Compatible with many brokers and crypto exchanges
• Opportunity score is simple to interpret
• Demo and simulation modes available

Cons

• Very little information about how signals are derived
• No charts or Level 2 data to inform trades
• Doesn’t include take-profit or stop-loss targets