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
How is it working out for u?
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.
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.
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
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 $97 is already paid for but 97 bucks is nothing compared to if it blows an account on you.
Honestly I really like faps allthough I dnt really use it to trade with. The thing is like you said you can’t be clueless about things or you will get hurt. The faps has a very specific way to trade it to be profitable even though supposadly its automatic set it and forget it. They market their fapwinner club but you don’t need that all you need is basic technical skills and do your own analysis. For fapturbo their is a similar allgorithm in it according to the creator. He made it based on leary’s faps. They added som extra indicators and added stoplosses. Frankly I havent observed it enough to say if it is a better system or not but certainly I will let you guys know what I come up with.
I have forex autopilot, and I’m really interested in fapturbo.
here is how you can post your statement.goto start / accessories/ snipping tool and select the area you want. save it and upload it to the thread.
or from meta trader for go to file/ save as picture. select the active work place and save. you need to select the area for ex account history like this one.
Thank you for sharing the valuable info
Here is what I got, hope it works. I made some adjustments on the parameters this afternoon (can’t leave well enough alone) that should improve the scalping performance, although it is set not to trade on Friday, so I won’t really know til next week. I will probably buy and try the Steinitz HAS MTF hedge robot as well, but one thing at a time. Forex-Robots website will start live testing FAPTurbo Dec 1, but I think it is only for premium members… whatever that means.
Hi all,
a newbie here and to forex.
Good to read all about your experiences with Fap Turbo. I’m keen on software bots as time is my main enemy.
Got involved with ForexAutocash robot a few weeks back, just as the market went crazy (euro/$) 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.
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.
Although I am not an EA fan, I do buy those things
to test them out… or break them however you
choose to see it and most of them have been
pure crap. FAP and FAP Turbo seem to be decent
but again, default settings just don’t cut it.
This proves that you need trading experience
to use these EAs effectively. Having said that,
I can also honestly say that FAP is fairly decent
if you set the parameters correctly which clearly
either the FAP Winners Charles or the "Marcus Leary"
fictional character know anything about. They
just mass sell it with the help of affiliate marketing
but they know nothing about it.
Now FAP aside, I can also definitely state that
Steinitz EA sucks pure crap!!! It may be one
of the worst crap out there with a crappy
money back policy and a really sesitive EA
that resets and ceases to function correctly
whenever there is a hiccup in your computer,
internet, or the price movement itself.
FAP is infinitely better than the overprice
Steinitz that most people won’t be able to
get a refund on. Steinitz sucks unless you
want to throw away $199 just to see
how much it sucks for yourself. So, I
do not recommend Steinitz in any shape
or form. If you do have the funds, I
do recommend GoMegaFX people. But it
is way out of price range for most people.
I see again and again that people do not
understand the trading world itself. What
makes some people think that "scalper"
mode is safer when you are trading
in the same environment as others?
Stop thinking like that all you newbies.
Please. Couple of posts below I read
someone saying with scalp mode
the drawdown would be lot lower?
How so? Drawdown occurs when the
price moves against your position
multiplied by the number of lots you
have open in the trade. That’s the
drawdown. Scalp only comes into
play at take profit, not at the onset
of trading or during or anytime within
trading itself. Why would a scalp mode
be immune to what every trade and
every trader would have to face?
Seemingly and often rough price
swings? It doesn’t. Scalp tactics
take place at take profit points only;
meaning generally take profit won’t
be more than 5-10 PIPs. Also,
all platforms can be run off of a
dedicated server or VPS, not just
metatrader platform or just FAP
turbo EA. And there is no such
thing as “safe trading” with “minimal
drawdowns.” That is dangerous
thinking to trash ASAP. And don’t
get all riled up because I tell it
like it is. It won’t be an exaggeration
to say that in the years to come;
a ton of people will be financially ruined
by willy nilly delving into the forex trading
arena. Don’t be one of those people with
your heads in the clouds.
i am user of FAP turbo on a real account so here is what i have to say:
I had demoed the original FAP turbo after a month and it did pretty good but most people couldn’t /can’t deal with it’s unknown/end of month stop-loss feature. that’s while i like turbo, it has it fixed and on a micro account, i would definitely leave that m1 long term strategy at 1% risk so if it did hit a 500 pip stop, you loose only 50 bucks. big deal. the scalper, however, is very good so far. all winning trades. just make sure that GMT offset is correct because it doesn’t trade every day in the EUR/USD. if it feel it’s too risky, it may not trade for days or weeks even! so your bread an butter would be the scalper and the long term feature would be icing on the cake. I’ve made 92 bucks on a 1500 dollar micro account so far in the 1st 24 hrs
It appears to use a set TP, which is adjustable in the EA parameters. There is a parameter to set a trailing stop, by default it is set to zero. Default for TP is 140 pips, and SL is 500 pips for the long term. On the scalp, it shows a different TP due to a function called stealth mode (can be toggled on or off) that is supposed to prevent “broker cheating”. It appears that on the scalp strategy the displayed SL and TP numbers are generated at random. In reality it takes 4-8 pips based on “internal indicators”.
It also uses a “hedge” function on the long term strategy (also can be toggled) and I’m not sure what to expect with these off trend trades that are going to start piling up. There is passing mention of setting the EA to close out every month, which would close them at a loss, which is fine, but I’m not sure if they are useful enough to bother with in the first place.
Steinitz uses a similar system where he recommends closing out at the end of the month. This can be a bit misleading in claims when you look at closed profits without considering all the losing open hedge positions. Pipforia on the other hand closes out all positions at a net profit, which is nice, as you don’t have these lost positions eating up your margin. What I don’t like about piforia is that is seems to be hypersensitive to shutdowns etc. Whenever I have restarted the program with positions open it seems to have “forgotten” about the open positions, leading to disaster. I was interested to hear the comments on Steinitz, I had heard some good things about it. It doesn’t matter how good a robot is though if it is too sensitive to different types of interruptions. I will be posting my updated statements at the end of the day.
I am basically looking for a good robot to reliably make a few pips when I am not able to trade manually.
Thanks for the interest
Johnnyfx what I meant was that in scalper mode there is a stop loss compared to a never ending sl on faps
also everybody knows that when you limit your exposure in the market ie… limit your trading term for example scalping short term verses longer swing trading like the long term strat, then you are also limiting your potential loss.
personally im in profit and i can tell you from experience that short term goals of 5-10 pips are easier and less risky than larger profti goals like 150 pips. you yourself said this in an earlier post. so if my wording is different than that i apologize.
bottom line less exposure= less risk greater exposure= greater risk
to me i would rather bankroll smaller moves and let them add up versus holding positions for days with greater possible drawdown overall.
my trading style at present has a mental sl of 20-30 this is very short term trading.
when i do swing trade which i do about once every couple of weeks i am exposing my self to a mental s/l of 200-250
20-30 loss versus 10-30 gain
200-250 loss versus 200-400 gain
its all relevent i suppose
lazy you should check out pipforia. stella is excellent and her robot kicks @ss
it is a hedgegrid system and requires a vps definatly coz you will ruin yourself if you let the platform to shutdown while you are sleeping.
trading 1 pair is conservative you can trade 1 pair aggresivly by doubling your lots which is what i do.
trading 2 pairs is aggressive
I have that one on a 10k account and i trade 6 lots 60 dollars on 1 pair and it usualy wins 2 trades a day but like i said earlier the drawdown is 25% sometimes and that is to earn a $60 move.
So you have to ask yourself are you willing to deal with that if so you will definatly earn decent with this ea.
it is earning aporx $2500 a month and that is with very aggressive settings for 1 pair.
Again I want to mention Stella is excellent and will definatly respond to any and all of your questions in a very expeditious manner.
if you use conservative recomended settings you will earn around 12- 15%
if you go aggresive than double that 24-30%
what more can you ask for in a robot?
Lazy,
what are the best settings for fapturbo for the EURUSD 1M,
if you can share it with everyone.
For the scalping mode, i did lot risk reductor @ 20% that gave me the best result on the back testing.
Did you try forex auto pilot(the older version)?
johnnykanoo, I am just wrapping up my demo with pipforia. While I was satisfied with the results, it was a bit unstable for my liking. I agree that Stella offers very good support. I’m not sure it is the right robot for my use, but there is no doubt it is a good performer.
jado, I have left the settings on automatic money management with 1.5% and 5% for the long term and scalp strategies respectively, which on my $5000 demo has been producing 0.1 lot sizes across the board. I am running both strategies on one account as well. At 0.1 lots, this is about as conservative as you can run it. Obviously a more aggressive sizing on the scalp would be the way to go. Here are my end of week results:
I hope somebody would try pipzu, or if there is somebody who has already tried it i hope its results would be posted here.
Hey Danny welcome to babypips.com were glad you joined the discussion.
I checked out the pipzu website and it looks good. The thing I liked is that it doesn’t promise overnight riches and it isn’t the same cheesy marketing that faps, faps turbo ets ets fall into. The buy now before we stop selling campaign or buy now coz soon the price is going up campaign. I didnt see any of that from pipzu.
I went through the site rather quickly and I didn’t notice any foward testing. I may be wrong though.
Be careful of the expert advisors that show you great backtest results but no foward test results. Back testing might be ok for optimizing settings but nothing can replace a foward test to show real results. Also even a foward test is no guarentee that the market won’t change but pipzu seems to have that covered with there advaced algorithm.
If you try it let us know how it goes
thanks, john
Hi All,
I opened a demo account in fxdd ,the automated trading.In there we dont have to take positions ourselves but just find systems provided by vendors and choose the system provider
and build portfolio and wait for the system selected execute buy or sell for you.
It may took longer to see any trade were taken but out of 48 transactions 39 wins since I opened 14/Nov/08.There are restrictions on Demo account as we cant open or close positions executed by the Signal provider you have selected.
Do try up & let everybody knows the result.
Rgds
hafizam