Robots, Expert Advisors, FAP Turbo, more?

[Shakespeared]

I'm still getting great results with the Alpari US demo. I don't remember how many trades it's made (maybe 15? definitely between 10-20) but it's only had one (fairly large) loser in two days, yet I'm ahead with $110 in fake-money profit. Like you guys, the night before was more active than last night. I still have it running on ODL's demo, but it sounds like that's useless.

I got absolutely bombed this morning on Pipcrawler's EUR/USD short pick with my live money account at Oanda. That was definitely a lesson in money management and greed. One swift boot to the groin is all it takes, I guess. I ignored all the possibilities in the "what could go wrong with this trade?" thought process. Which brings me to the point that I'm considering going live with FAP Turbo to remove my own human element until I learn to contain my emotions...to become robotic, so to speak. =)

[Dehumanizer]

Honolulu, yes, as you said, many brokers open opposite positions, so if you win, they lose, that's why they hate successful traders.

As for the MT4 and ECN, I read somewhere that MT5 *might* support ECN directly, that would rule. I don't know when Metaquotes plans on to releasing it. They are working on it for a long time now so it might not be very far from beeing finished.

About the ATC, I got a demo yesterday and it looks fine. Spreads are OK, however during the time when fapturbo trades they are a bit higher, but not that much. I got both yesterday trades on ATC demo with nice profit.
They however don't have the system finished yet, so they don't open live accounts now. That should be soon...
Quote from the email I got from them today when I was asking about it:

. We
are at the finishing stages of the "beta" version and need to finalize a few
more things. We will make the official announcement via our website once we
open the doors for everyone. Moreover, if you have a demo account with us
already, you will be one of the first to be notified once we launch.

[porgy]

Hi All

there are some real concerns emerging that FT does not perform as well live
as on Demo.Is this the experience of others trading live now.

Dave

Nope, it's doing great on Short-term still. Traded last 15 with no losses. (except a experiment to see about Friday trading which stayed open after market close and I had to watch for market to open back up, fortunately, the EA caught it and closed it out within 1 minute).

Lesson, leave Friday's alone.

Kevin

[willkohsg]

InterbankFX transcript

General Info
Chat start time Dec 17, 2008 1108 AM EST
Chat end time Dec 17, 2008 12:07:23 PM EST
Duration (actual chatting time) 0014
Operator Client Services 10


Chat Transcript
info: Thank you for contacting us. The next available agent will be right with you. Our goal is quality service. You may tell us how we do today by clicking HERE.
info: You are now chatting with 'Client Services 10'
Client Services 10: Hello, this is Ana. How may I help you?
none: i wana know do u all ban profitable EA trading? the EA is a scalper
Client Services 10: Hi.
Client Services 10: What do you mean with ban?
none: means disallow
Client Services 10: The trading platform supports EA's
Client Services 10: You have to make sure that the EA is compatible with the MT4 trading platform
Client Services 10: We do not support the EA that you will install on your platform
Client Services 10: We can only explain you how to attach it to the platform
Client Services 10: Also we do not recommend any EA
none: coz i heard that if clients profit, then the brokers will lose big time
none: is that true?
Client Services 10: No, it is not
Client Services 10: If you are using an EA
Client Services 10: And you are doing profit using it
Client Services 10: We will respect the way and strategies that the client uses in their platforms.
none: then why brokers hate scalpers?
Client Services 10: In accordance with our no dealer intervention business model it is not the policy of IBFX to police the trading style and activities of our clients. However, as a general rule we recommend that clients remain in trades for a duration of at least 90 seconds.
none: why is that so?
none: why 90 secs?
Client Services 10: Lower that 90 seconds is scalping.
Client Services 10: More that 90 seconds is a normal trade
none: profitable scalping is bad for the broker?
none: the broker loses money on clients who scalp for less than 90 secs?
Client Services 10: The broker can allow you to do that, but the liquidity providers will tell us
Client Services 10: to close your account if you continue with the scalping strategy
none: why is that so?
Client Services 10: because the rules and pilicies
none: wat rules?
Client Services 10: We are regulated by the NFA
none: scalping is illegal?
Client Services 10: No, it is not, IBFX recommend that clients remain in trades for a duration of at least 90 seconds
none: recommend, its not a MUST rite/
none: ?
Client Services 10: Yes.
none: why must u all close accts of clients who scalp less tha 90 secs?
none: if thats not a must, then why the 90 secs rule?
Client Services 10: Again;
Client Services 10: In accordance with our no dealer intervention business model it is not the policy of IBFX to police the trading style and activities of our clients. However, as a general rule we recommend that clients remain in trades for a duration of at least 90 seconds.
none: u the difference
none: its a recommendation
none: not a RULE
Client Services 10: Yes.
none: then why accts must be closed if clients keep on scalping?
Client Services 10: Because we are regulated by the NFA and we are a broker of the liquidity prioviders.
Client Services 10: We do not monitoring your trading strategies
none: so ibfx clearly doesnt encourage scalping?
Client Services 10: In accordance with our no dealer intervention business model it is not the policy of IBFX to police the trading style and activities of our clients. However, as a general rule we recommend that clients remain in trades for a duration of at least 90 seconds.

[5zero2]

interesting...hmmm

[willkohsg]

General Info
Chat start time Dec 17, 2008 1222 PM EST
Chat end time Dec 17, 2008 1208 PM EST
Duration (actual chatting time) 0046
Operator Nikki



Chat Transcript

info: Thank you for contacting FxPro Live-support.
info: All operators are currently assisting others. Thanks for your patience. An operator will be with you shortly.
info: You are now chatting with 'Nikki', May i have your FxPro account number please?
you: Hi, i would like to know do u all allow highly profitable EAs to be traded on yr platform? For example scalper EAs?
Nikki: You may use Expert Advisor however as listed in our trading conditions:
Nikki: Trading operations using additional functions of the client trading terminal such as Trailing Stop or Expert Adviser are executed completely under the Client’s responsibility, as they depend directly on the client trading terminal and the Company bears no responsibility whatsoever.
Nikki: Expert advisors are of course allowed on our platform, but please make sure that they are set-up correctly to allow for the 5th digit which is one of our advantages using our FxPro Metatrader4 platform. You may be able to set them yourself if possible in the settings, otherwise you will have to seek assistance from the supplier of the advisor who will of course be happy to assist.
you: do u all allow scalping?
Nikki: Yes “scalping” is allowed, unlike many brokers we do not discriminate against scalping by placing a minimum time that a trade must be open or minimum size that must be open.
Nikki: As long as your orders are requested in accordance with our terms and conditions, the company may accept these orders.
Nikki: https://www.myfx.pro/terms_and_conditions
Nikki: https://www.myfx.pro/documents/CFDs%...olicy%20v3.pdf
you: that is so cool
you: seldom find a broker like yrs
Nikki:
you: how long do u all intend to stay in the market as a company so we traders can enjoy the privileges that u all offer to us that other broker dont?
you: so in other words, u all openly allow EA that scalps very profitably?
Nikki: we do not have plans in closing the company we have many clients worldwide
you: so in other words, u all openly allow EA that scalps very profitably?
you: Honestly speaking, do brokers lose alot of money when clients scalp with high profitability?
Nikki: yes we allow scalping
you: Honestly speaking, do brokers lose alot of money when clients scalp with high profitability?
Nikki: we do not have this information on support we are here to help and guide we do not have the success rates here however some win and some lose
info: Your chat transcript will be sent to chengthe82@hotmail.com at the end of your chat.

[pacmed]

Well, I have given up on my quest to get FAPTurbo folks to provide inclusive VPS (I felt this was implied in their advertising, but they don't see it that way, see earlier posts on this thread) so have set about finding a VPS provider that make sense from the point of view of not spending a large share of profits on hosting...

I came across this which is based in the UK and offers VPS at £11.95 (approx 15-16 USD depending on the exchange rate). They have won a number of awards, guarantee 99.99% uptime and seem to be among the cheaper around, and a far cry from the FAP recommended VPS service at $69/month (which just doesnt work for me with my relatively small deposit and low risk strategy).

I hope it's ok to post a link here... please let me know and/or remove if not.



Hope everyone's getting good results with FAP, it's taking me a while to get setup (no time) but hoping to make some money before the inevitable happens as with any 'too good to be true' system and something gives (I'm guessing the brokers).

It is encouraging to see fxpro are still on board, but I would be suprised if this continues indefinately.

[john225]

Is the FAPTurbo really working or is it a scam?

[pacmed]

Seems the link was not allowed - please PM me if you want details of a cheaper VPS.

[hazelj80]

Is the FAPTurbo really working or is it a scam?

FAP turbp does work. so well that ODL suspended accounts using FAPTURBO because it's very accurate at scalping! they are scared of a 150 dollar EA. funny! about 200 accounts so far they got..