FAP Turbo EA - back testing and reality don't match?

Trading Systems Expert Advisors and Automated Trading
1

Any EA experts or FAP Turbo experts out there?

I recently bought FAP Turbo and is currently learning and testing the system. There are so many claims out there and I still don’t know who to believe. So I found this forum here and thought I might throw a few questions out there and see if any good answers comes out of it.

I have FAP Turbo Version 47 build224.

Q1) I first got a demo account from ForexMeta (as recommended from FAP Turbo) and I was finding FAP Turbo not making any trades the first day. After some examination, I noticed the spreads at ForexMeta was high and may have explained the non-engagement of the EA. Anyone using ForexMeta right now in REAL money? Do you find my observation of high spread true? After some searching, I found FXCM with I think better spreads and got their demo account. Anyone has a good safe/secure broker with low spreads that works with FAP Turob(or MetraTrader)?

The demo account finally made some trades, but not as often as the back-testing which leads to my next question.

Q2) I only been running FAP Turbo for the last couple of days on FXCM on my demo account (today is Friday, no trades) so next week I probably will have better conclusions. I tried back-testing on the 5 currency pairs, EUR/GBP, EUR/CHF, GBP/CHF, USD/CAD, EUR/USD where the first 4 used scalping and EUR/USD used FAP_Turbo EA. All of them seem to return unbelievable result, so naturally, I was expecting my demo account to start growing. So yesterday’s trading 5/21 between the allocated FAP Turbo scalping trading hours of 21:00 - 01:00, it performed one buy trade in EUR/GBP at 22:09 @ .87665 and closed at 23:02 for a @.87716 for a small profit. However, when I ran the back testing, it got 3 trades within the 5/20-5/21 trading window. I ran this 3 different ways with spreads of 3, 5, and 8, all took 3 trades and non-match the actual live trade. I set the Scalper_UseAutoGMTOffset to false, and Scalper_ManualGMTOffset to 1 (as prescribed by FXCM) Can anyone explain the difference in the EA engagement between back-test and live trading? Might I be doing something wrong? or does the EA engage differently on a live feed vs historical data?
If you are currently running FAP Turbo live trading, did you get 3 trades on EUR/GBP between the 21:00-01:00 trading hours? or does your live trade (demo or real) match the back-testing? [B][U]So ultimately I am asking is anyone observing that the back-testing match your live trading?[/U][/B]
If so, then FAP Turbo should make money! If not, then, it’s useless.

Any thoughts would be appreciated…

Carl

live

Closed Transactions:
Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
1209357 2009.05.22 00:57 sell 0.40 gbpchf 1.73193 1.74770 1.72660 2009.05.22 02:17 1.73155 0.00 0.00 0.00 13.94
1199252 2009.05.21 19:47 sell 0.10 eurusd 1.39033 1.44061 1.37634 2009.05.21 23:38 1.39116 0.00 0.00 0.00 -8.30
1209137 2009.05.22 00:53 buy 0.40 usdcad 1.13525 1.11920 1.13990 2009.05.22 05:26 1.13476 0.00 0.00 0.00 -17.27
[B][U]***1204257 2009.05.21 22:09 buy 0.40 eurgbp 0.87665 0.86150 0.88110 2009.05.21 23:02 0.87716 0.00 0.00 0.00 32.31[/U][/B]
1167633 2009.05.21 06:41 balance Deposit

back-test EUR/GBP between 5/20 - 5/22

1 2009.05.20 01:29 buy 1 0.1 0.88014 0 0 0 500
2 2009.05.20 01:29 modify 1 0.1 0.88014 0.864 0.8844 0 500
3 2009.05.20 08:13 close 1 0.1 0.87975 0.864 0.8844 -6.19 493.81
[B][U]*4 2009.05.20 23:44 buy 2 0.1 0.87413 0 0 0 493.81
-5 2009.05.20 23:44 modify 2 0.1 0.87413 0.8573 0.8797 0 493.81
-6 2009.05.21 00:01 close 2 0.1 0.87475 0.8573 0.8797 9.84 503.65
*7 2009.05.21 00:53 sell 3 0.1 0.87505 0 0 0 503.65
-8 2009.05.21 00:53 modify 3 0.1 0.87505 0.892 0.8696 0 503.65
-9 2009.05.21 02:44 close 3 0.1 0.87474 0.892 0.8696 4.92 508.57
*10 2009.05.21 23:02 sell 4 0.1 0.87722 0 0 0 508.57
-11 2009.05.21 23:02 modify 4 0.1 0.87722 0.8926 0.8729 0 508.57
-12 2009.05.21 23:59 close at stop 4 0.1 0.87736 0.8926 0.8729 -2.22 506.35[/U][/B]

2

FAPTurbo like others is sold to the mass market by very clever and experienced marketeers, combined with lots of hype. Tested this system, yes it makes profits but the losses can and do outway the profits. There are better systems out there. Got my money back. The people that sell these systems rely on the fact that most people will not ask for their money back. Just try asking them for a refund. You won’t get an answer. Get your money back through Clickbank using their cast iron warranty.

3

I am not convinced it’s a flop yet, but you may have more experience with it than I do (or maybe I am really hoping it would work). I am more interested in factual results on people’s experience.

Algorithmically, it seem to work because the back-testing shows the gains and the losses and has the potential to make huge profit. I think if there’s a way to get the back-testing congruent with the live results then it may work. The current factors I think is causing the inconsistencies between the two maybe the spread from the broker or perhaps the limited historical data sets compared to live data. Thus somehow, in back-testing, a trade is entered, but in live scenario, it was not. So this maybe a Meta Trader or Expert Adviser problem.

Are there any other FAP Turbo users out there? Has anyone really put it to the test to check the back-test vs the live results to see if they match in trade time & direction as well as the # of trades executed? Please share!

Also, is anyone using a VPS hosting service? I found swvps.com for $18/month vs the $67 recommended in the manual. I was wondering if anyone has used this hosting service and had any comment or any other VPS they had good/bad experience?

4

for me, fap didn’t trade enough. and demo and live will be different. especially with market makers. and back testing to compare trades won’t do much good either because tick data can jump around and candles form differently in real time.

i don’t use a vps myself. i use a dedicated server. much quicker and i run five scalping EA’s on one platform. and they ain’t 149.95! if you want a good VPS. i would use forexvps.com with the autoboot feature they include. go for the middle package.

5

Hi Carl,

At this stage Asian session scalpers are a dime a dozen…I have at least half a dime’s worth, including FAPturbo.

I bought the original FAP(last year) and never got it to work…apparently you need to subcribe to a special forum and input settings every week to get good results. Unfortunately it was not the black box solution that it was made out to be. Anyway, the FAP guys have now slapped on a mediocre asian session scalper, called it FAPturbo, and this seems to be giving the robot a better performance. The marketing hype has done the rest.

I will not comment on FAPturbo itself, but I have stopped using it simply because I have better scalpers that have stop losses of 35 for my 5 pips profit, rather than 112. For example, if you want, have a look at Your_Lucky ea…just google it. You can get it for free…

A word about backtesting. The first issue is that mentioned by hazelj80…tick data is not accurate enough and will lead to inconsistencies. Another huge factor is how the backtester treats spreads…and spreads are a huge issue with scalpers. Your tester stores data as bars and a bar consists of 6 pieces of data…time, open, high, low, close and volume. There is no spread in this data. The tester therefore simply makes use of the current spread. If you are testing outside of asian session hours, you are probably getting awesome results. Of course if you are using a fixed spread bucketshop, then you are not getting the requotes and slippage associated with low liquidity markets. Think about this…what is the difference between a 3 pip spread slipped by 2 pips and a 5 spread?

If you have a variable spread broker(I like variable spreads because it is a good indicator of what is happening in the market, and after all that is why these scalpers have spread filters)…try running the same backtest at different times of the day and let us know what you find.

A far more important issue is the correlation between demo account and live accounts. There will be some differences here because the demo feed may have a more favourable spread. Alpari, until recently, had their demo spreads at 3 while the live spreads were at 5. They eventually changed this because I think enough people challenged them on it. Also a demo feed cannot simulate liquidity. In other words, on a demo account the broker honours your order without hesitation or consideration. However when it comes to live, the broker has to have some-one on the other side of your trade(it is a marketplace after all, and this applies to your instant execution brokers as well)). Typically the broker simply hedges your order with another client’s opposite order. If there isn’t one available, they may wait for a second or two, or, three, or four…oh damn, I guess re-quote…

I have found some value in their forum, even though it is more heavily censored than a gay porn site in Iran.

Anyway, I hope this give you some insight into how it all works.

Regards

Kenny

6

Kenny and hazelj80, I really appreciate your insights. I suspected the live feed had something to do with the differences and now I have a much better picture of what’s going on and and what to expect. If people understands these little facts, they would know what to expect in buying this product or any EA product. But coming back to the issue, it seems that brokerage with good spread may be critical in making a EA work better. I see that some brokerage claim to have “no dealing desk” executions, might this be better for an EA? Kenny, are you using Alparis UK or US? I am using FXCM demo, they are a US based Forex registered with NFA (nfa.futures.org/basicnet/]). Don’t know if their demo differ from live in spread quotes. Anyone care to share a good brokerage?

So today, I am looking at the settings, here are the v47_build224 DEFAULT settings. I found two custom settings out there and they differ in a few places, but I don’t know if it’s due to version difference or some actual customized difference, but I thought I post them for some discussion. What I am noticing is that the profit taking and stop loss ratio seem scary; is the FAP Turbo EA confident of the conditions so that it’s willing to risk from a 1:6 up to a 1:10 ratio? I suspect that if the stop loss is not set big enough, you’ll get kicked out of the trade due to swings? Does this make sense to anyone?

Scalper_EURGBP_TakeProfit - 6
Scalper_EURGBP_StopLoss - 36
Scalper_EURCHF_TakeProfit - 5
Scalper_EURCHF_StopLoss - 53
Scalper_GBPCHF_TakeProfit - 10
Scalper_GBPCHF_StopLoss - 75
Scalper_USDCAD_TakeProfit - 10
Scalper_USDCAD_StopLoss - 58

FapTurbo_TakeProfit - 140
FapTurbo_StopLoss - 500

[B]Anyone willing to share their successful settings and also how they set up their platform EA trading system and go about their trading day?
[/B]

one customization (don’t know what version) - differ from v47 build 224

Scalper_MaxSpread - 8.0 // seems risky to me, but may pick up more trades?

                               // in Turbo FAP documentation, it recommends
                               // in reducing spread btw 2-4 for EURGBP

FapTurbo_Lots - 0.00 // doc state Lots=0 equal MoneyManagement ON then LotsRiskReductor is used
FapTurbo_LotsRiskReductor - 10.0
FapTurbo_MaxOrders - 5 // maximum number of open orders
FapTurbo_TakeProfit - 100
FapTurbo_CloseAfterXMonths -2

another customization(don’t know what version) - differ from v47 build 224

EURGBP Setting

Scalper_LotRiskReducer - 10.0 // 10% increase from 5% to give more weight, the guy claim to have more success in this currency

EURCHF, GBPCHF, USDCAD

Scalper_LotRiskReducer - 5.0 // back to 5%
Scalper_OneTrade - 1 // trade only once per day

EURUSD

FapTurbo_Lots - 0.00
FapTurbo_LotsRiskReductor - 2.0
FapTurbo_MaxOrders - 5

Here’s the defaults settings for v47 build 224

Scalping on EURGBP, EURCHF, GBPCHF, USDCAD

UseScalperStrategy - true
Scalper_Lots - 0.1
Scalper_UseMM - true
Scalper_LotsRiskReductor - 5.0
Scalper_MaxLots - 10.0
Scalper_UseAutoGMToffset - true
Scalper_ManualGMTOffset - 1 // this will vary to your broker
Scalper_StartWorkTimeHour - 21
Scalper_StartSessionMinute - 0
Scalper_EndWorkTimeHour - 1
Scalper_EndSessionMinute - 0
Scalper_EURGBP_TakeProfit - 6
Scalper_EURGBP_StopLoss - 36
Scalper_EURCHF_TakeProfit - 5
Scalper_EURCHF_StopLoss - 53
Scalper_GBPCHF_TakeProfit - 10
Scalper_GBPCHF_StopLoss - 75
Scalper_USDCAD_TakeProfit - 10
Scalper_USDCAD_StopLoss - 58
Scalper_StealthMode - true
Scalper_ProfitLimit - 0.0
Scalper_LossLimit - 0.0
Scalper_UseCustomLevels - true
Scalper_RelaxHours - 0
Scalper_SimpleHeightFilter - true
Scalper_TrendFilter - true
Scalper_TradeMoney - true
Scalper_TradeFriday - false
Scalper_OneTrade - 0
Scalper_OneOpenTrade - false
Scalper_ReverseTrade - 0
Scalper_UseFilterMA - false
Scalper_PeriodFilterMA - 100
Scalper_PriceFilterMA - 0
Scalper_MethodFilterMA - 0
Scalper_MaxSpread - 5.0
Scalper_Slippage - 6

Long Term Strategy on EURUSD

FapTurbo_Lots - 0.01 // v47 build 224 doesn’t seem to have MoneyManager on?
FapTurbo_LotsRiskReductor - 1.0
FapTurbo_MaxOrders - 1
FapTurbo_MaxLots - 10
FapTurbo_StopTime - 9
FapTurbo_aaa - 35
FapTurbo_bbb - 48
FapTurbo_TakeProfit - 140
FapTurbo_StopLoss - 500
FapTurbo_TrailingStop - 0.0
FapTurbo_DurationInHours - 0
FapTurbo_CloseAfterXMonths - 1
FapTurbo_PeriodMALarge - 100
FapTurbo_PeriodMASmall - 30
FapTurbo_PriceMA_0_6 - 0
FapTurbo_TypeMA_0_3 - 0
FapTurbo_ShiftMALarge - 3
FapTurbo_ShiftMASmall - 1
FapTurbo_LookForDays - 2
FapTurbo_CriticalDays - 45
FapTurbo_RelaxDays - 0
FapTurbo_AfterPosLotReducer - 0.0 // older version maybe HedgingLotReducer
FapTurbo_AlterPositions - 0 // older version maybe Hedging
FapTurbo_TradeNFP - 1
FapTurbo_TradeFriday - 1
FapTurbo_Prudent - 0
FapTurbo_SymAlligatorOnCritica - 1
FapTurbo_FixedDirection - 1
FapTurbo_ClsLsrOnMrktChnge - 0
FapTurbo_AlwaysTrade - 0
FapTurbo_LowLot - 0.1
FapTurbo_TooGoodToBeTrue - 50
FapTurbo_PrudentPeriod - 30
FapTurbo_StartWorkTimeHour - 0
FapTurbo_StartWorkTimeMin - 0
FapTurbo_EndWorkTimeHour - 0
FapTurbo_EndWorkTimeMin - 0
FapTurbo_OneTrade - 0
FapTurbo_SpanGator - 0.5
FapTurbo_SlipPage - 3

7

Hi Carl,

I just wish to clarify that I am not hijacking this thread to talk about brokers…I simply see FAPturbo and brokers as being an inseparable issue.

I was referring to Alpari UK…I will probably reduce my activity with them since I feel they may be past their sell-by date. They have just upped EURGBP & EUR CHF spreads to 5 pips. I give them 5 stars rating for this as it is honest and forthright…but it does mean they are uncompetitive.

I must confess, I do not know who has or hasn’t got a dealing desk…in fact, I do not even know what a dealing desk does. I just do not believe that the brokers are sitting there trying to fanangle my trade of 0.1 lots? What you can do is read through the trading logs after the trade session and look for trade execution problems…all brokers have some, but some will have more than others.

In terms of good brokers, I look for brokers that offer variable spreads. I feel that fixed spreads are not a viable way of trading. The simple reality is that if your depth of market causes a spread to open to 5 or 10 or 50, that is just the market…but if your broker is promising you spreads of 3 pips when the actual spread is 6, then the broker is paying for you to trade. This does not make sense economically and the only option is to slip you and/or to re-quote you. Looking at your FAP setting, your 3 pip fixed spread broker is going to open your trades up to 9 pips out of pocket(3 spread + 6 slippage). This means that the market must travel 15 pips to make a 6 pip profit…that to me is risky. As I said before what is the difference between a spread of 9 pips and a fixed spread of 3 pips + 6 pips slippage…

I think FXCM will be good…I have opened an account with them, but yet to actually fund it. Forex.com so far has been ok and they offer microlots. PFG Best Direct is also pretty good(unfortunately only mini lots with 1:100 leverage so watch the margins). Note above that I do not have any issue with Alpari…all round they are a pretty good broker but their Asian session spreads are, for now, uncompetitive. FxCBS also looks to be interesting and is recommended by FAP team. GoMarkets in Australia has recently moved to 5-digit pricing and a currenex feed and this could be very interesting. Unfortunately you would have to set up a VPS in Australia since your latency from anywhere else in the world is way too high to trade a scalper.

8

Just a point, I really cannot see how a Robot that will not trade because the spread is to high compared to its internal settings is any good. You can make many more pips using something like Quantum FX or Profit Monster (Not robots but a clear and easy to learn set of indicators) using 4 hourly or daily settings.
Quantum is free by the way. Fapturbo is just a waste of time and money. Another reason I dumped it. By comparison I was impressed by Quantum and Profit Monster, and surprised how easy they were to learn how to use them. They tell you when to trade, which way and when to get out. You just have to watch your money management safety rules. And use a demo account first.:slight_smile:

9

Hi I use a robot call Forexmegatrion, and for me it has work well. I had lost sometimes but at the end I had win more, and my account has increase since I use it. I think is because I can work more without actually been sitting in front of the computer. I really think if you work with a robot is that you always check what he is doing and if you really don�t like what he is doing close the position so you will not regret it later, I think robot helps you but you still need to do some work and analyze the market so you will get better results.

10

I wouldn’t mess with the settings that much I heard that Fapturbo works best on default settings. Also in the instruction manual it says to only use the Long Term Stratagy pair EUR/USD if you have $10000 or more in your account. If less than that just use the scalping pairs.

For me, I am more of a risk taker so I set…

Scalper_LotRiskReducer - 10.0 and use the money managment.

also the EUR/GBP must stay at

Scalper_MaxSpread - 5.0 because in the instructions it says this is recomended maximum for this pair.

The other three pairs I set

Scalper_MaxSpread - 6.0 because I noticed that my broker would often bounce around and stop at 6.0 spread on average. Anything more than 6.0 maxspread in Fapturbo is not worth it because the take profit is fairly low.

Also, I set

Scalper_TradeFriday - true

I set this to true but still FapTurbo will only trade 4 days out of the week. I was a little dissapointed with the advertising they claim that it trades 24/5 but in reality it only trades 4 days out of the week at 3-5 hours per session. You can try this setting to see if you will get an extra day.

I have been using FapTurbo for over a month and so far it has only broke even. What happens is that there will be a bunch of good trades, then one bad trade that looses what you just made the previous week so not sure what is up with that. You can try my settings though if you are lucky and get no bad trades you will build up money fairly good.

11

It’s good to hear everyone’s first hand experiences, the triumphs and frustrations. There’s so much hype and distortion out there, it’s good to hear someone’s experiences with actual money and real results instead of just opinions. And hopefully this allow someone who is thinking of buying any EA to be able to evaluate objectively before jumping in.

I don’t know what version you have pipendale, but the current manual online say to use 2-4 max spread for EUR/GBP. In it is also referenced to set to a MaxSpread of 3 pips in the back-test tutorials. This shows again the importance of spreads in the execution. In the bigger losses that you experienced, have you had a chance to analyze why? Was it during a time that you added to the normal schedule? Who’s your broker? Would you be willing to post your trades? Now I am wondering, will FAP Turbo will exit a trade even if the spread is beyond the MaxSpread setting? Anyone has any observation on this? If not, this will definitely throw you for a big loss. The reason I ask is because what I found out below.

I was doing more back-testing and noticed a quirk or bug in Turbo FAP. If my MaxSpread was set lower than what the current market spread is, no trades occur in the back-testing. So perhaps this is what Kenny was hinting at to run the back-test during different time of the day. Since spread means very little in back-testing, might as well set it high for the back-testing.

Perhaps I am chasing down a dead-end path of automated EA, but I am continued to be fascinated by these automated trading because I want to take the emotions out of the large part of my trade. I played with 4xMadeEasy about a year ago, though things are suppose to be simple, when my money was on the line, it always seem to go the opposite direction.

My FXCM demo MT4 software came with two other EA, a Moving Average and a Simple MACD. Back testing on these from May 1 - 25, they both seem to work on 1 HR intervals. The MA did better in back-testing. Does anyone have any experience with these? My next step is to run it live on my demo account, but I think I may be getting conflict with the different EAs in managing the trades.

I also downloaded Your_Luckyv2 Jan/09version EA and back testing seem to work okay, but it sure does lot of trades with up to 3 open trade at the same time. I would like to run some demo time on this EA too. Anyone has any live trading results they can share?

I also found a copy of Euro-Blaster EA in source format, but it wouldn’t produce any trades during back-testing. So I suspect whoever uploaded the source code might tampered it since he was pretty pessimistic on this EA. I kind of like this EA because it trades on EUR/USD where you can get better spreads, does anyone have this EA or have any experience on this?

Bichiz, can you share more about your Forexmegatrion. How long have you used it, what’s your results on live trading, % win vs % loss, $ gain, $ lossed, overall % gain in what time frame? Perhaps you can post your trades? If you would share with us we would appreciate it!

12

Thanks everyone, its great to see how others are getting with robots, my experience of FapTurbo was that, yes it did make trades, but on a regular basis it also made losses greater than the profits. But actually never very great trades. :mad:

I also would be interested to hear more about Megatrion, looked at their website not much hype or silly promises therefore on that basis may be ok ! BUT they do not appear to offer a test version or many back warranty, and they do not sell through Clickbank. So I think I would be a bit wary, maybe you could pay by credit card and if its no good rely on the credit card company to get your money back.:cool:

13

I can’t post my trades right now but can tell you that I am trading a $1000 account at forex.com and my broker has variable spreads. My money managment is set to %10 so at any given time I am risking up to %40 of my account on the scalping pairs, I don’t have enough money to use the EUR/USD pair.

The first month or so I didn’t use the ‘trade friday’=true feature so wasn’t this. Even still FapTurbo will only trade monday to thursday no matter what ‘trade friday’ is set to. What happened was I got good profits for a week or two winning about $10-$20 per day on average then one day I got a bad trade that FapTurbo had closed the trade at -$114 that actually put me in the red and took a while to build up again. I had been using the current version and currently I am using version 4.7. Last week it was the same story I made about $25 then on thursday one trade was closed at -$28 and another wasted trading week. Judging by my experience it would take a very long time to actually double your account using FapTurbo if this is even possible. One thing I might be happening is my stop loss is way to much and could use some tweaking but I was using default setting for S/L and T/P. But still I am risking up to %40 of my account and only getting very small profits if any. Maybe with some playing around with the settings it is possible to make more of a profit but as adversised with default settings it hasn’t been possible to double my account every month. As for spreads, if you have a fixed spread broker then it would be important to have your ‘maxspread’ set to the asking spread for the particular currency other wise there will be no trades. My broker has a variable spread and I just watched the spreads and found that 6 was the average asking spread to trade the currency. I still leave EUR/GBP at 5 because I am only losing roughly $1/pip with my account and FapTurbo settings. How has the trading been with you?

14

I am only still playing with the FXCM demo account. I only got FAP Turbo as of 5/21 and I had been learning and playing with MT4(by Boston Tech.) and all the various EAs.

Running several scalpers and trying different EAs, my vista computer was bogged down taking 50-90% of my CPU and running my memory almost to its max; MT4 running from 100mb - 1.6gb. So I had a older computer and I re-setup Mt4 and FAP Turbo on an XP machine. Initially it was running only 10-80mb of memory which was great, then when after I downloaded the historical data, it start doing the same problem; running low on memory and low on resources. I don’t know if MT4 has a memory leak or the historical data is causing MT4 behave eradically. Anyone had this problem?

So I am hoping this week it would execute some trades. Have your (or anyone’s) FAP turbo execute any trades today? Mine didn’t do anything today and it’s been 2 hours into the trading session. I am running scalping EURGBP, GBPCHF and long term on EURUS and no trades entered. I don’t know if it was because I reinstalled my software and didn’t have enough historical data or what. If anything executed on anyone’s FAP turbo, can you please post them, I need to figure out why it’s not executing if some of your have.

Thanks!

15

I figured out my silly mistake when I transplanted my MT4 software to the other computer. There was two passwords: one trading and one investor mode, I entered the wrong one and the MT4 journal was complaining that it can’t trade in the investors mode and I didn’t see it until I started to poke around.

Well, after I fixed this, it started to enter trades, but so far negative…

16

FXCM does not provide demo accounts for their MT4 platform. You must be confusing FXCM:confused: with another broker

17

I’ve purchased FAPturbo moths ago… in the first week it took 33 trades divided in the 4 pairs available for scalping, ouf of which 5 were negative… in a 5000USD account it made a profit of 801USD but in one single trade, it lost 405USD… so at the end of the week I was left with 396USD… around 4% of the account in 1 week… It has performed similarly until now

I’ve read a lof of comments about FAPTurbo, Ivybot, MegaDroid, Forex Monster and other robots that really make unbelievable claims in their sites. I’m a mexican young guy… 25yrs… I’ve been trading for about 2 yrs now… and as everyone else, I’ve been looking for the “holy grail” to make money.

If you think that a robot will make you rich without doing absolutely nothing… but downloading it, paying it and opening a real account, YOU ARE WRONG, no matter what the advertising says, remember, they’re doing their job trying to get your money…

Forex Robots DO MAKE MONEY… How much??.. They won’t double your account, not even get close to that… but they will be more profitable than having your money in the bank…

Do I need to have any knowledge about forex prior to run one or several of these robots? YES you do… many of these robots have parameters that need to be set in order to work according to your specific needs… so if you don’t know the meaning of words like pip, spread, SL, Lot, etc… study and study. An IGNORANT in forex field, CANNOT RUN A ROBOT SUCCESSFULLY, because sometimes the robot needs a little human help to stay in good conditions…

Now in my personal case, many of the reviews and comments written on the web, came from people in US or other developed countries in Europe, etc… I’ve never read a single comment from someone from a country like Mexico… in here the average salary per week is about a 100USD (most of the times less than that) so… making 400USD a week in an account with 5000USD… is actually pretty good… Maybe someone in the US would say something like “what?? I cannot live with only 400 a week…” so they look for strategies and promises like “$500 Account turned into $3500 in only 3 weeks!!” and oohh surprise… when they try it and fail (obviously), they start claiming that robots are useless and they’ll make you lose all your money…

Something is for sure, IN MY PERSONAL CASE, the robot has performed a lot better than myself doing manual trades, of course, with only two years of experience, I’m only a newbie in the markets…

It’s discouraging to see that “neutral” comments and negative comments are certainly more than people saying “I’m happy with my robot, it’s doing good, I’m not rich, but it’s ok”… and I have a theory for that, when you are happy with something, you’re not looking around in the web for information about it, and forums and stuff… you just do what humans do… we take it for granted and keep on living… think about it… do you look for information about your car unless you need it?? do you post in forums saying “my car is good, it gives me good service?” or “my bank is good, they have a nice interest rate, good customer service…” no… you don’t… you take it for granted… so go ahead and try things for yourself, don’t get discouraged by negative comments…

Thanks to anyone that read this… it was kind of long… LOL…