I think Butmunch did’t know how to use it or did something wrong which led to his loss, then toke at out on them all over the forums.
where did you get the other EA’s from , what are they called?
sorry can’t name them. they were free so you will have to do some searching! they are out there!
I think I mentioned this a few posts ago – I’d been using FAP Turbo for about six weeks, and kept messing with parameters and had my LRR set too high and kept trying to trade the USD/CAD with it and kept trying to use the EUR/USD as a scalper of sorts by tweaking its parameters. Plus, I kept making a lot of idiot mistakes with my manual trades. So, I’d managed to work a $2000 live account down to $900 - I got ticked off, threw another $2k at it, and decided to be smart and only trade the EUR/CHF and EUR/GBP with FAP-T at reasonable settings. By doing that, over the past 2.5 weeks, I’ve seen a 46% increase in my account (not all profit, just increase), gotten back to break even, and actually have myself in the black by a couple hundred bucks. Like I mentioned previously, I’ve been posting my live results (real money) on my blog. Check my profile for the link.
[I](ETA – As of 2/23/09, I now have a link to the live MT4 results available on the blog, so you can see all the trades taken by FAP Turbo. It also has some manual trades mixed in, but I think from this point on I’m only going to use FAP Turbo on that account and open one for manual trading elsewhere.)[/I]
Hey Shakes, I too have been with FAP for a little bit. After a month of back testing and fine tuning I came up with a scalper version of euro/us long term? Don’t ask. any ways I set the T/P short 50, and S/L high1000. In a 5000.00 live account,just the last 2 weeks I am up to 12500.00 I am not trading any other pairs. Even if they flood the market with EA’s and this quites working. I should be sitting really good in a year.
That’s awesome, fuzzy. I followed some of the folks in the FAP Turbo forums who were trying to turn the EUR/USD into a scalper and ended up getting my rear handed to me using their settings. If you go to my site and check the MT4 live results (link in profile), most of the EUR/USD trades in there are losers on scalping attempts. Did you only tweak the T/P and S/L?
Hey Shakes. I played with back testing and the optimization function. I came up with many different settings. I don’t have them at my finger tips. But I will be back in Canada March 20 and can send them to you. I don’t trust my wife near the computer and haven’t gotten around to a VS account yet so hang in there. But I found that a S/L set at 1000 and a T/P at 50 will give you fast little hits. I average 10-12 a day , at 50.00 per. of course there was other things that I changed too ( for the life of me I can’t remember) but I have left it on autopilot when I left for work 2 weeks ago, and my 5000.00 has become 12500.00 and climing. Dumbass first time luck. Ignorance is bliss.
I have not use FAP turbo, but they never response my questions via email instead of all Spam. so I don’t think they are focus on their product. Any comments are welcome!
FX J , I can only seak for myself. so far I have had no need to use any tech support. But I have heard the same from others that the support can be poor, not just FAP but most EA’s Lets be honest, they are more concerned about sales than support. Thank the beer gods that there are these chats so we can help each other out.
Hey guys I just started demo trading and am new to the concept of EAs. Can someone give the the rundown on them? How do they work, how much do they cost, which are the best ones? I’m hearing some crazy success stories here but some bad horror stories too… does anyone know if its possible to sustain a living just trading with EAs?
Hello Coolcat,
EA is a piece of software written usually for MT4 platform which is the most popular trading environment. They implement mechanical trading strategies, blindly following the built-in technical setups which can be better or worse. Most of them are scalpers which go for small profits and often risk a lot, so it’s not rare that they lose everything they had made for 2 weeks in one single trade (after 2 months of fap-turbo demo tests with their standard and recommended settings I would say this is the case and this robot is not the only one). Some of them rely on some parameters that can be optimized using the strategy tester tool on MT4 platform, so many sales letters show you their great results of the equity going sky-high in a backtest. Do not fall for that. As it was outlined in one of the popular forex books: lies, damn lies and backtests. The settings that could have been successful in the past may wipe your account tomorrow. That’s why even if you made some money with the robot, you may find yourself losing your equity soon. The market is full of software implementing black box strategies and I would discourage you from trusting the program and encourage to trade manually. Of course it does not mean that EAs are useless. You can write your own EA which will be very helpful in certain situation. For example, if you need to send multiple orders at once. Or want to trade microlots. In my case, the software does not let me send a microlot position manually, but my EA can do it without a problem, because my broker allows trading microlots. With a fixed stop loss and risk percentage, the ea calculates the position size, stop losses and take profits, so I save a lot of time.
@Fuzzy, please keep me updated on your EUR/USD strategy and its results, and it�d be cool to see your parameters once you�re able to get home. If you don�t want to bother with posting them here, and wouldn�t mind sharing them, you can get to me through my blog. Link�s in the profile per SOP (or just search for �fapturbologging� on Google), and my email is listed on the right side. Thanks dude!
@CoolCat, while I agree with keyem that most EAs can be a lot of hokum, once I started using FAP Turbo the smart way (proper money management, etc), I�ve seen approximately a 62% return (not profit, mind you, just return) from my account lows, in about 3 weeks. I�m actually sitting on about a 17% profit now, I think. I�m tracking the results on my FAP Turbo blog, winners and losers alike. January was a rough time because a lot of crazy financial maneuvering around the world, so like keyem mentioned, I�d see a lot of small wins and then have them wiped out by a big loss. Could just be a run of good luck, but I haven�t seen that happen in about a month.
I also noticed that the spreads are going wider and wider so I had to constantly move my max spread setting in order to have any trades until I reached a threshold of a very low profitability. The authors of fap turbo made all major brokers aware of their robot existence and this will make it easier for brokers to target the fap turbo users. I think this could be the case of all released robots.
I’m still not thoroughly convinced that brokers are widening spreads specifically [I]because[/I] of FAP Turbo. I know Alpari-US recently lowered their spreads on a few pairs. We FAP-T users really are such little fish in a massive pond. Seriously, [I][B]trillions[/B][/I] of dollars are exchanged each day. Most of the people on the FAP Turbo forums that I see talking about their wins/losses are trading on accounts less than $1000. We can’t be making that much of an impact. Unless I’m way behind, ODL is the only broker I’ve heard of that’s more or less “banned” FAP Turbo. And unless a broker is taking the trade against you and losing money (which they shouldn’t be if they’re worth anything), why would they want to shut down something that’s making them money? I run FAPT on two pairs and get [B][I]about[/I][/B] 7-10 trades a night, so they’re making approximately $120+ off of me each week. Again, [B][I]unless[/I][/B] they’re taking the trade against me, why would they want to raise spreads, keep me from getting the trade, and prevent themselves from making that profit? I still say it’s liquidity issues, and not due to FAPT.
I’m seriously not trying to pick a fight - I’m honestly just curious as to what the reasoning would be, because I’m sure it’s entirely possible.
Thanks.
New updates coming this week at FAPTurbologging. I picked up a copy of Forex Terminator this weekend and intend to test it out (via demo) and give it some reviews/results too. Be sure to check in.
No fight here either. 
I think that the only reason for not liking fap turbo, from broker’s point of view, is the flood of orders to be executed. If you add the fact you stated, that most people trade mini and microlots, the income generated with the robot may be much less than the money needed for another piece of hardware that could ensure a safe execution of so many orders at once.
If the broker is the bad guy, he may also not like the stop losses that too big to run after 
You may say that there aren’t many fapturbo users, but I’m damn sure that there are lots of scammers out there. And those also add to the server load.
FXDD raised the spread on me, I’m switching to a fixed spread broker!!!
Please note that even some fixed spread brokers tend to widen spreads duing the late US and Asian session, when fapturbo trades.
And I also tried fapturbo on FXDD, their spreads became unacceptable to fapturbo some time ago.
yah it was around 2-3 weeks ago when they went up!!!
Exactly. And they went as high as we cannot afford to risk while trading (I remember it was 9 pips where usually was 4-5 last time when I looked at it). What’s even funnier, fapturbo guys promoted this broker as far as I remember.
hi,
iam trying to add fapturbo to the EA iam presently using, can anyone in forum that has beemn using it help me on how to use fapturbo successfully and profitably vis-a-vis on how to change the setting to scalping and the long term.thanks,
akin olu
over the last two years that i have started forex trading,i have to realization that forex trading like any form instments is not as risky as our forex gurus made us to belief.my financial mentor,“robert Kiyosaki in his book that investment is not risky as people made us to think if only we take time to invest in financial education”. in this case of forex trading, i discovered that forex is not as risky as we thougt right now.many of our forex gurus online has bombarded us with many things that the whole things is complicated.think about it we really need to commit time and educate ourselves about the nitty gritty of forex before we place our first trade.finding the right trading strategies is not easy but the commitment can drive u to achieve it.wishing everybody the best.