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. =)
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.
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).
General Info
Chat start time Dec 17, 2008 11:40:08 AM EST
Chat end time Dec 17, 2008 12:07:23 PM EST
Duration (actual chatting time) 00:27:14
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.
General Info
Chat start time Dec 17, 2008 12:19:22 PM EST
Chat end time Dec 17, 2008 12:43:08 PM EST
Duration (actual chatting time) 00:23:46
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%20Order%20Execution%20Policy%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 <[email protected]> at the end of your chat.
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.
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…
I know that some brokers will probably ban the EA, but I have an account with fxsol who doesn’t use MT4 and i’ll watch my demo run and place a trade manually sometimes if the prices are close. I know this isn’t very consistant but it does work just in case ALL of the brokers ban the Fapturbo users. A new trader could still have the ability to make some profitable trades.
Hi
ODL refuses FAP Turbo trading because it should be a “Sniping” system , trading the “Misquotes” due to the lack of liquidities during night hours .
That would be , according to ODL , contrary to the trading’s ethics .
Cheers
Hi
I received this very detailed information from Activtrades ; this broker allows FAP Turbo Scalper with the possibility to trade from direct market prices like Institutionals with minimum lot�s size = 0.1 lot .
There is the constraint to face the real market conditions of institutional trading ; all order are Market Orders , not instant orders .
Are these trading conditions , with orders possibly rejected if price moves and the variable spread of interbank market , suitable for FAP Turbo Scalper trading ?
Here is the response I got from Activtrades :
� � � I have written answers to your questions below:
Activtrades offers clients streaming prices for clients. We are not an ECN as this would require you to be able to participate in the spread by adding your order to the price and thereby making the spread narrower. ECNs are based on very high volume for the sake of reaching an economy of scale. This is normally done through trading on Credit lines through a Prime Broker into the Central clearing entity (JP Morgan is this for Currenex, Citi bank is such for Lava, etc.). ECNs do normally require a minimum turnover of USD 100 million per day. Activtrades does however offer direct streaming prices from our liquidity providers to high frequency/ short term trading clients. This enables you to trade from direct market prices on same terms as institutional clients. This includes constantly variable spreads, minimum order size 10,000 (0.1 lot) � banks will not take trades for less than that, orders sent as market orders rather than instant orders (so the price you ask for is the price you get or it is rejected as the market has moved), normal market hours are followed (Sunday evening through to Friday evening 9 PM GMT time), No partial order closure possible (as liquidity providers only see us, not our closures, so they naturally do not know if orders are related).
Our Standard spreads can be found here: ActivTrades - Trading on Futures, Forex, CFDs with Metatrader
To see the variable spreads, please open a real account with us and we will have your account switched to Variable spreads. The spreads are sometime narrower, most times the same as now and sometimes wider. Needless to say that when we are seeing a volatility of historic magnitude that effects variable spreads accordingly. This should hopefully calm down shortly when Central banks have completed their historic inter rate lowering. The key element is just to realise that we are offering automated trading clients such as FAP turbo scalper realistic pricing. Most other brokers do not wish to facilitate this sort of trading due to infrastructure costs whereas we have chosen to invest into this, thus they will normally close such accounts.
As stated above scalpers are welcomed, but as explained above in point 1 & 2, they will have to face market conditions of institutional trading, which is really what automated trading is. Essentially this is: Variable spreads, minimum 0.1 lots trading, All orders handled as market orders, no partial closure of an order and market closing Friday 9 PM GMT. The reason behind this is that for us to get a regular feed, fix it, send it to the client, for them to accept, us receiving it and sending it on to the market takes several hundreds of milliseconds. In comparison automated systems can react within 100 milliseconds which causes �out-trades� on our side; trades we cannot cover in the market as the price has moved. The only solution to this is give the client the �raw data� which then cannot be fixed.
On the basis of variable spreads being applied to high speed clients, we do not see any conflicts of interest . [ end of quote]
I really wonder if trading with ECN broker or direct Inter Market prices , as Activtrades does , is really the Holly Grail for users of FAP Turbo Scalper ???
I dont know whether anyone here reads their forum there is some good advice there but it is not from the admin. There is an endless litany of requests for help with a variety of problems with this EA very few of which are responded to with anything more than advice to read the manual and watch the videos. There is no response from their phone support (message box full) and email response is just a canned script. Some users have not been able to activate and cant even use the thing.
Now that spreads in the quiet time at start of Asian session have reached levels not supported by Fturbo there are very few trades entered so the EA is virtually useless.
The strange thing is the supposedly live a/cs on their website which are still trading profitably when the spreads should be too high for scalp trades.
They take twice as many trades as mine with the same broker same times same everything my EA took a grand total of 2 two trades for the entire week
So the claims of quadrupling accounts in a month must be treated with caution by the ordinary punters.
I grow weary of the whole circus and will go back to relying on my own intellect and enter trades when I see an opportunity which fits my system.
I cannot see the liquidity improving on eur/gbp & eur/chf so will concentrate on the majors again.
Maybe others have had a different experience lately with Turbo if so good luck I think you will need it.
what you’re going to need is someone who can program and write a FIX API and then you would have to get to at least 50k with fapturbo. that’s what real ECN’s are asking to start and minis, forget about it. is it possible? yes/ I’ll probably do it but that could take a while but i have two scalpers, and the other i have works like FAp but trades even more. all i need is to withdraw before acct gets to big to notice cause if you don’t with these MM’s, they will notice.
currently waiting for ATC to finish their mt4 ECN and then it will be over because they will be the first to successfully do it on a major scale and other ecn’s will follow suit more than likely.
for now, find a programmer for FIX and hope you can get to at least 50k to make the API FIX requirements on there severs
people are doing it already independently but are not sharing.
Hi Guys. As with most posts here that I have browsed thru, there are some questions from a lot of people.
On my demo, trading .1 lots, FAPT on default settings, I really cleaned up. The thing made about 1100 pips in 1 week.
The trick (in hindsight!;)) was I had my GMT offset wrong. It should have been +2 but was actually -6. After I changed it to the proper settings, It calmed down a bit (to just under 400 pips for the following week). Only a few losses overall and none of them real major. I think the biggest was about 30 Pips.
Anyways. I took the offer from FXDD for thier XMas special and never got a chance to trade on the live account with it, because I have activation issues with it now.
The one thing that lets FAPT down is the backup/customer support. Like a few mentioned earlier, it’s always the same canned email and ‘watch the video’ or ‘read the manual’ again…
Very tired of seeing the same video and could probably recite the manual word for word…
After 3 weeks (4 emails and some unanswered phone calls) waiting for a response to sort this problem out, I’m gonna get a refund from clickbank and spend the money on another robot (after some more research).
I’ll keep reading along for some recommendations and hope that I others have better luck than I did with this robot.
Cheers,
Martin
Hi.
I just wanna say that i m using Fapturbo on my live account of Liteforex. Infact i bought it on the v.1st day of its lauch
and the only thing which encouraged me to believe those live results which were(infact ‘are’)given on their website,is that i was confident of a refund from clickbank if something goes wrong.
I have 1 suggestion for u. As they also confessed that they have a lot of burden of customers’ emails,so u try to solve the problem by the help of other users bcoz this thing is sure that they’ll increase its price again.I bought it $97.
I sent an email to their customer care before 4 days but still no reply.In the starting,i was getting a detailed reply which helped me to start my live trading with this product.so now its not essential for me whether they reply or not…Actually,i was thinking that Fapturbo’s support will also be giving a brief and dull response like the old FAP’s support but i got surprised when i started getting detailed replies from them.
Anyways,if u need any help then u can send me private msg.
I know that others are having success with this robot. That’s probably my main frustration. Anyways, as I write this I have received an email from FAPT support and I’ll see what happens next.
I’m a bit of a spiritualist and just had to put the ‘vibe’ out there.
Seems to have worked. Lets wait and see…
Cheers,
Martin
i figured as much. you’ll have to get A custom FIX API written. bostontechnologies does it and they connect you to a bank but we’re talking institutional trading and a big acct most like. if you can make it that long with an MM, you’re good.
