Robots, Expert Advisors, FAP Turbo, more?

[lazymaritimer]

Hi, this is my first post.
I just bought the new FAP Turbo (forex autopilot turbo) EA to demo, and I am wondering if and where it would be appropriate to share my findings? I also am wrapping up a pipforia demo, and am planning to demo a few other robots and trading systems in the next few weeks. I know the FAPTurbo is relatively new in its current incarnation, and if there is interest I will post my experiences.
Regards,
lazy

[ineedmoney]

How is it working out for u?

[johnnykanoo]

pipforia is a great ea and a consistan money maker just be careful coz the drawdowns are high if you are aggressive.

faps worked good except when it lost it lost big so now they have the new and improved scalper version that promises minimal drawdown. keep us posted how it performs.

[JonnyFX]

There is no such thing as minimal drawdown unless
a person or the EA in this case gets a lucky string
of winning trades that outnumber vastly the losers
thus numerically bringing down the drawdown
percentage at the end of the month let's say.
No EA or no trader in existence that get the
winning trade going from get go of opening
the trade. There will be drawdowns and nothing
can minimize it. And no matter how decent
the EA is, people without trading experience
enough to set a parameter on it on their own
using their experience; it will never work.
From what I have seen, FAP is decent but not
if you go with the default parameter settings.

[lazymaritimer]

So far it appears to be working. I am running it simultaneously on two $5000 demo accounts. The way it is setup you have a "long term" function and a scalp function. The long term only runs on EURUSD, and the scalp will work four other pairs. I set it on EURGBP as it had the lowest spread. After 40 hours of up time, (started at Tues 4pm) one account is up 613 pips. This may be anomalous though, as the other demo that I started only about 20 hours ago is only up about 30. I think the first one I just happened to open it up at the ideal time. Both have long term positions open and looked like they were on track for profits, but the trend consolidated, but has started to move again in favour. I will try and figure out how to post the statements so you all can draw your own conclusions.

As Johnny alluded to, these programs, although often marketed to people with claims that you don't need to know anything about forex, can turn on you quickly and wipe you out if you don't understand how they work. I do believe that they can be useful under the right circumstances. I am testing them out of the box with default settings. I would like to clarify that this is the FAPTurbo I am testing, not it's predecessor FAP.

lazy

[johnnykanoo]

lazy i bought it too and through it in a live account but have limited its lot size. Ive only tried the scalp setup now and it made 3 small trades all in profit. the $97 is already paid for but 97 bucks is nothing compared to if it blows an account on you.

Honestly I really like faps allthough I dnt really use it to trade with. The thing is like you said you can't be clueless about things or you will get hurt. The faps has a very specific way to trade it to be profitable even though supposadly its automatic set it and forget it. They market their fapwinner club but you don't need that all you need is basic technical skills and do your own analysis. For fapturbo their is a similar allgorithm in it according to the creator. He made it based on leary's faps. They added som extra indicators and added stoplosses. Frankly I havent observed it enough to say if it is a better system or not but certainly I will let you guys know what I come up with.

[jado911]

So far it appears to be working. I am running it simultaneously on two $5000 demo accounts. The way it is setup you have a "long term" function and a scalp function. The long term only runs on ERASED, and the scalp will work four other pairs. I set it on ERGO as it had the lowest spread. After 40 hours of up time, (started at Tues PM) one account is up 613 pips. This may be anomalous though, as the other demo that I started only about 20 hours ago is only up about 30. I think the first one I just happened to open it up at the ideal time. Both have long term positions open and looked like they were on track for profits, but the trend consolidated, but has started to move again in favor. I will try and figure out how to post the statements so you all can draw your own conclusions.

As Johnny alluded to, these programs, although often marketed to people with claims that you don't need to know anything about for ex, can turn on you quickly and wipe you out if you don't understand how they work. I do believe that they can be useful under the right circumstances. I am testing them out of the box with default settings. I would like to clarify that this is the Turbo I am testing, not it's predecessor FLAP.

lazy

I have forex autopilot, and I'm really interested in fapturbo.
here is how you can post your statement.goto start / accessories/ snipping tool and select the area you want. save it and upload it to the thread.
or from meta trader for go to file/ save as picture. select the active work place and save. you need to select the area for ex account history like this one.

Thank you for sharing the valuable info

[lazymaritimer]

Here is what I got, hope it works. I made some adjustments on the parameters this afternoon (can't leave well enough alone) that should improve the scalping performance, although it is set not to trade on Friday, so I won't really know til next week. I will probably buy and try the Steinitz HAS MTF hedge robot as well, but one thing at a time. Forex-Robots website will start live testing FAPTurbo Dec 1, but I think it is only for premium members... whatever that means.

[Jon.S.]

Hi all,
a newbie here and to forex.

Good to read all about your experiences with Fap Turbo. I'm keen on software bots as time is my main enemy.

Got involved with ForexAutocash robot a few weeks back, just as the market went crazy (euro/$) but I was only demo trading... phew... it lost the 650 s/l points and there was no way to bail out, just had to sit and watch.

But I got my refund Ok, and the guy who was selling told me I had the software for keeps... good PR I think?

Since that colapse it's been ticking over pretty good... 101 points straight in 4 weeks. Still on demo though. I think the guy was unlucky with his timing... if he'd released it later when things calmed down it would have been a better result for him... and everyone else. Oh for a crystal ball.

So I've still got the platform to watch. Bigest drawdown since the colapse has been 173 points. I intend to demo for a while yet, and see if it will be worth a go with the real stuff.

From your comments this Fap Turbo seems pretty much the same deal only it can be set to scalp, so the drawdown must be a lot safer right?

Plus it can be set up on their server which is good as it won't get lost when the PC is shut down for any reason.

I'd like to know if it's possible to overide the set stop loss and close out a trade if you feel it's too heavy on drawdown, and if the 'set & go' is actually workable?

Don't be missled here, I really am new to forex, I have a good idea about the terms etc, but I've only traded demos upto now, so I'll be watching to see how you guys who are trading for real are doing and try to learn a thing or two. Hope thats Ok with you?

Jon. S.
One Life So live It.

[jado911]

Here is what I got, hope it works. I made some adjustments on the parameters this afternoon (can't leave well enough alone) that should improve the scalping performance, although it is set not to trade on Friday, so I won't really know til next week. I will probably buy and try the Steinitz HAS MTF hedge robot as well, but one thing at a time. Forex-Robots website will start live testing FAPTurbo Dec 1, but I think it is only for premium members... whatever that means.

lazymaritimer,

Looks very good to me. Does it have a set TP or does it do traling stop, my last Q is why does it set a differnt SL for each trade, or did you do that?
Thank you again.