FAP Turbo User Reports and Comments
The following comments are from members and associates using FAP Turbo. These reports and comments should NOT be construed as advice or recommendations on how to trade. Statements may be opinions and not based on fact and any results posted here may not be verifiable. There are various risk settings. Agressive and greedy settings can blow your account out in a heart beat. Other settings should be relatively stable. To learn more you should get your own FAP Turbo software and test it out on a demo. To get best results follow the instructions in your FAP Turbo Manual and Videos. No results here are to be construed as claims to what return you will get if you use FAP Turbo. FOREX trading does entail some risk (as do other so-called 'conservative' and 'safe' investments we have seen tank 50% in the last year). Based on what the stock market is doing (and it may drop further) the FOREX market may turn out to be better place to park your money providing it is discretionary like ANY investment of a speculative nature. Nonetheless, please read the FOREX RISK DISCLAIMER at the bottom of this page.
http://twelfth-step.com/FAPTurbo
Comments
January 10th, 2008
Boomerang has given me as many as 4 losing trades in a row, so I am cautious with it since the trade sizes were big... so by managing open trades I am more confident with it, I tried it live, but didn't feel confident so stopped. I think it can do many winners in a row and then a bunch of losers as well... It depends on the trend that is happening... and it gets caught against the Elliott wave count a few times.
Pipsleader is very consistent with about 10% a week live account. I like this one... for ODL.
Fapturbo is going well about 35%in 2 weeks. Really fun to see it work live at FXDD.
The new one - Forex Auto-Scalper is a great addition since it works with Eur/Usd, same as Boomerang. So on the demo when both bots do the same trade I take it live on my bigger client account, just tried that today with ACM.
I manage 4 live accounts, one of which has 7 clients attached to it, so even though these are robots I still have to manage them. I don't totally trust them so I am watching them closely. When I combine what I see them doing with my Elliott wave and trendline analysis along with Fib projections it seems to be coming together nicely.
I am seeing more come my way as well... Wow these guys are getting it figured out!
CJ
I've been using the robot for a month now. Only using the short term strategy and making manual adjustments to the lot size based on the currently volatility. I'm averaging about 25-30% per week in a Live account. No losing days yet. You really can double an account in a month. I do believe that this trading tool can (if it continues) will seriously empower ones financial well being. I also recommend some manual intervention, meaning to close out counter trend lingering trades that don't hit profit target before the Euro session starts, in order to minimize loses. '09 is going Rock it this continues!
PR
January 10th, 2008
Boomerang has given me as many as 4 losing trades in a row, so I am cautious with it since the trade sizes were big... so by managing open trades I am more confident with it, I tried it live, but didn't feel confident so stopped. I think it can do many winners in a row and then a bunch of losers as well... It depends on the trend that is happening... and it gets caught against the Elliott wave count a few times.
Pipsleader is very consistent with about 10% a week live account. I like this one... for ODL.
Fapturbo is going well about 35%in 2 weeks. Really fun to see it work live at FXDD.
The new one - Forex Auto-Scalper is a great addition since it works with Eur/Usd, same as Boomerang. So on the demo when both bots do the same trade I take it live on my bigger client account, just tried that today with ACM.
I manage 4 live accounts, one of which has 7 clients attached to it, so even though these are robots I still have to manage them. I don't totally trust them so I am watching them closely. When I combine what I see them doing with my Elliott wave and trendline analysis along with Fib projections it seems to be coming together nicely.
I am seeing more come my way as well... Wow these guys are getting it figured out!
CJ
December 27, 2008
I've been using the robot for a month now. Only using the short term strategy and making manual adjustments to the lot size based on the currently volatility. I'm averaging about 25-30% per week in a Live account. No losing days yet. You really can double an account in a month. I do believe that this trading tool can (if it continues) will seriously empower ones financial well being. I also recommend some manual intervention, meaning to close out counter trend lingering trades that don't hit profit target before the Euro session starts, in order to minimize loses. '09 is going Rock it this continues!
PR
December 17, 2008
The VPS is this link: (alternative to Forex Hosting-read below before choosing) http://www.swvps.com/affiliates/jrox.php?id=979
This is the link for Robert H who told me about it. I have not signed up for it yet, as I am realizing there are things involved with Metaquotes and programming that I don't understand. It seems simpler than forexhoster since you simply download your own meta4 from your broker onto your server space. It should act like your own computer. Forexhoster is trying some proprietary thing with there Metaquote feed I think.
(See the note from FXH below)
We would like to take this opportunity to thank you for your patience and more importantly update you on the reason why it has been necessary to display this patience.
The explanation will broad in nature in that proprietary technology could be compromised, due to recent Metaquotes system updates has created an issue that needs to be addressed by all hosting companies. (Metaquotes is the provider of the MetaTrader trading platform software) Our decision to take this approach was difficult as the two most valuable assets of our company are our clients and reputation and these steps are being taken to insure the quality of both. We are in the final stages of taking into account this new update and urge you strongly to not even consider another hosting service as most companies have not even realized how this new update will affect their service in the very near future.
We look forward to providing you the very BEST in hosting service in the next few days.
Best Regards,
ForexHoster Staff
>>>
CJ
The VPS is this link: (alternative to Forex Hosting-read below before choosing) http://www.swvps.com/affiliates/jrox.php?id=979
This is the link for Robert H who told me about it. I have not signed up for it yet, as I am realizing there are things involved with Metaquotes and programming that I don't understand. It seems simpler than forexhoster since you simply download your own meta4 from your broker onto your server space. It should act like your own computer. Forexhoster is trying some proprietary thing with there Metaquote feed I think.
(See the note from FXH below)
We would like to take this opportunity to thank you for your patience and more importantly update you on the reason why it has been necessary to display this patience.
The explanation will broad in nature in that proprietary technology could be compromised, due to recent Metaquotes system updates has created an issue that needs to be addressed by all hosting companies. (Metaquotes is the provider of the MetaTrader trading platform software) Our decision to take this approach was difficult as the two most valuable assets of our company are our clients and reputation and these steps are being taken to insure the quality of both. We are in the final stages of taking into account this new update and urge you strongly to not even consider another hosting service as most companies have not even realized how this new update will affect their service in the very near future.
We look forward to providing you the very BEST in hosting service in the next few days.
Best Regards,
ForexHoster Staff
>>>
CJ
December 16, 2008
I spoke to an FXDD clearing house today - backbayfx.com and they have discussed the issues that ODL and a few other brokers have with the EA. I was told that some of the brokers do not have as sophisticated a way to manage trades that activate so quickly. They assured me they are better, but we shall see.
I am using the EA on a demo and taking similar trades on my live
account, but it is risky since the trades are taken between 2100 and
100, or 1pm - 5pm pst, 4pm-8pmEST, when the market is slow and long term analysis is very important in taking trades.
But so far I am getting pips and no losses doing it that way. If I
work 4 hours a day I am good with that!
I also have another EA I am using that will double the account in 6
months. It takes a lot of trades, it hedges and a person should
monitor it.
I am finding that most EA's, though they run on their own, absolutely need to be monitored.
I think I will go live with this backbayfx and deposit 500 or 1000 to
see how it goes there.
Whatever the result I think this process is great, my trading is so
much easier with EAs, it is like having a trading partner give me her
analysis on a regular basis!
CJ
I spoke to an FXDD clearing house today - backbayfx.com and they have discussed the issues that ODL and a few other brokers have with the EA. I was told that some of the brokers do not have as sophisticated a way to manage trades that activate so quickly. They assured me they are better, but we shall see.
I am using the EA on a demo and taking similar trades on my live
account, but it is risky since the trades are taken between 2100 and
100, or 1pm - 5pm pst, 4pm-8pmEST, when the market is slow and long term analysis is very important in taking trades.
But so far I am getting pips and no losses doing it that way. If I
work 4 hours a day I am good with that!
I also have another EA I am using that will double the account in 6
months. It takes a lot of trades, it hedges and a person should
monitor it.
I am finding that most EA's, though they run on their own, absolutely need to be monitored.
I think I will go live with this backbayfx and deposit 500 or 1000 to
see how it goes there.
Whatever the result I think this process is great, my trading is so
much easier with EAs, it is like having a trading partner give me her
analysis on a regular basis!
CJ
Just to let you know I went live today
on the FapTurbo with $150Euro Account with Fxpro and the robot made me $42Euros,
very nice. Fxpro has the best spreads out of most of the
brokers, I`m not using a VPS as the robot only seems to trade for about 4hours a
night so I figured I`d just do it on my own computor for now.
JW
JW
December 13, 2008
I started with a $50k account last week and the robot made close to $8k on about 50 trades. My largest losing trade during the week was $24. After many years of trading I have to say this is a dream come true. This is quite amazing and I have not seen anything like this in the FOREX trading I have done so far.
UK
December 11th, 2008
IBFX did well this week filling orders with lower lot sizes. I am trading no more than 1-2 standard lots with them this week vs. 7-9 last week. They continually reject larger lot size orders.
The same is true with FXCM.
Also be aware that if the spreads widen (as they do with these two), FAPT will NOT open trades, especially with the EUR/GBP. If the spread is more than 3-4 on that pair, it will not open the trade. It will open on the EUR/CHF with wider spreads.
My best results in getting trades filled this week were with www.Forex.com. They offer fixed spreads, hence the difference in results.
My "inner circle" group of 4 has done the math and determined that "safe" settings are 30 and 20 risk at 100:1 for the EUR/GBP and EUR/CHF respectively. The largest hard stop is for the former at 110. This would result in an approximate 35% loss if hit. The EA can make this back up relatively quickly. What we don't know is how often this may happen.
I had my first loss in 2 weeks last night after being 22-0! It was on the EUR/CHF and was a small loss. Overall, in spite of the broker issues, I am up over 50% in 2 weeks. Those claiming higher %'s--just as in FR--are using very HIGH risk settings. Very few have done the math. At double the settings above, you can blow out the account with one bad trade.
That's all for now!
MM
December 11th, 2008
Since I started using this robot I have done around 5% per day. My $500 account is up about $551 in less than a week. This needs more testing but so far so good.
YN
FOREX RISK DISCLOSURE: It should be understood that Currency trading involves high risk. There is always a relationship between high reward and high risk. Any type of trade speculation that can yield an unusually high return on investment is subject to unusually high risk. Only surplus funds should be placed at risk and anyone who does not have such funds should not participate in trading foreign currencies. Currency trading is not suitable for everyone. We assume no responsibility for errors, inaccuracies or omissions in any material provided. We do not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. We shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation, losses, lost revenues, or lost profits that may result from any material provided.