FAP Turbo robot review - 4 BROKERAGES AT ONCE - Page 29 - Pip Cop

mitaji · 2009-05-21, 01:46 PM

Now that I have your attention, I'll give you the answer...LIE and lie big!!! like your life depended on it. I think you guys have been through the same experience as I have. When I was shopping for this EA I couldn't find any negative review on it and I did look hard. Armies of affiliates are gobbling up web space trying to get a piece of the pie. Its funny how, (from their reviews) none of them share the massive losing trades this EA has produced from time to time. You may even share the same broker

and settings with them.I have nothing against the developers of FAPT but I think its time the hype came to an end. Be careful, when the deal is too good....think twice, then twice again

angelajill · 2009-06-16, 02:59 AM

The profitability of Fapturbo actually depends on your forex broker

too !

Some are trying hard to sabotage your profits as the stoploss is small

Hopefully the new version coming out can bring back the heights of Fapturbo !

Ken Long · 2009-06-16, 11:21 AM

Quote:

Originally Posted by angelajill

The profitability of Fapturbo actually depends on your forex broker

too !

Some are trying hard to sabotage your profits as the stoploss is small

Hopefully the new version coming out can bring back the heights of Fapturbo !

Not true. The stop loss is actually quite large, and it would be difficult for the brokers to actually hunt these stops untill the market came within a few pips of them. What they can do is to increase the spread

so they guarantee themselves a profit regardless of whether FAPT wins or loses.

Most all of the problems we have seen have to do with the market breaking out of its trading range

while FAPT is holding trades. This has proved devastating lately. The tighter stop on the eurgbp pair does not seem to be working out, and has only produced more loses.

These are not the kind of moves the brokers have control over. Attempting to manipulate the market to this degree is too risky for them, they operate off the spread

.

vogelezang · 2009-06-16, 01:43 PM

Quote:

Originally Posted by Ken Long

Not true. The stop loss is actually quite large, and it would be difficult for the brokers to actually hunt these stops untill the market came within a few pips of them. What they can do is to increase the spread

so they guarantee themselves a profit regardless of whether FAPT wins or loses.

Most all of the problems we have seen have to do with the market breaking out of its trading range

while FAPT is holding trades. This has proved devastating lately. The tighter stop on the eurgbp pair does not seem to be working out, and has only produced more loses.

These are not the kind of moves the brokers have control over. Attempting to manipulate the market to this degree is too risky for them, they operate off the spread

.

I've had so much problems with the customer service of fap-t that I never got around to using it on a live account but you might want to check out InvestTech fx. They are an NDD (no dealing desk) and they really don't care if you win or lose. gt-shadow and MegaDroid run like a charm on it. Opening a live account there is a walk in the park compared to ibfx or forex.com. The only problem you will have is convincing the fap-t people that you have another live account.

I have no relationship whatsoever with investtech fx apart from the fact that I have a live account there. I'm also reccomending activtrades but this is a "normal" broker

so I have no idea how they respond to fap-t since they take position against you on smaller accounts.

Fact is that all the ea's I've tried always respond different on every and any account. Milliseconds really seem to matter.

mitaji · 2009-06-17, 02:42 AM

Here are a few points I’ve noted from my experience trading with EAs.

1. An EA is a robot. Robots do what we program them to do. Apart from bugs or malfunctions they do not make psychological mistakes like us.
2. Have a long term financial plan (3-5 yrs) then try to incorporate your EA into that plan. You’ll be amazed how quick those years go.
3. If you are trading an EA that has proven profitable over time don’t be in the habit of looking at your account balance all the time. Find something else to keep you busy.
4. Simple answers to simple questions:
• “Why did the EA exit here instead of here?” Because it did.
• “Why did it not enter here?” Because it didn’t.
*Refer to point

No.1
5. All good trading systems will have losses. Its the monthly statement that counts. Anything claiming no losses is not worth your money. The same goes with EAs.
6. Do not decompile EAs if you cannot afford them. Sooner or later you will lose money. Without updates and support, that EA will bulk on you. Besides only the proprietor knows what the EA truly does.
7. Do NOT change your settings when you get a loss. If those are the recommended settings and you’ve been getting profits with them, stick to the plan.
8. Please do not increase your leverage

to regain losses.
9. Join forums with traders using the same EA, ask questions and give comments. You will learn a lot.
10. Last but not least. EAs are not get rich quick schemes. We all need money, but it doesn’t grow on trees; it grows like trees. Anything that can make you retire overnight can also make you a pauper just as fast, so be careful.

Ken Long · 2009-06-17, 02:05 PM

Quote:

1. An EA is a robot. Robots do what we program them to do. Apart from bugs or malfunctions they do not make psychological mistakes like us.

But they often make technical mistakes due to the limitations of their programs and the limitations of mechanical trading in general

Quote:

4. Simple answers to simple questions:
• “Why did the EA exit here instead of here?” Because it did.
• “Why did it not enter here?” Because it didn’t.
*Refer to point

No.1

Theres a bit more to it than because. You can trade a mechanical program simply based on its expectancy, but its helpful to know why it does what it does,
especialy if you plan on working with it.

Quote:

5. All good trading systems will have losses. Its the monthly statement that counts. Anything claiming no losses is not worth your money. The same goes with EAs.

Anything claiming no losses surely raises questions, but this does not mean it is worthless, only that its claims are exagerated. Arent they all. Value is something that needs to be determined, and not assumed.

Quote:

6. Do not decompile EAs if you cannot afford them. Sooner or later you will lose money. Without updates and support, that EA will bulk on you. Besides only the proprietor knows what the EA truly does.

Do anything you wish, but try to stay legal and not infringe on anouthers copyrights. Sooner or later we all lose money, but without knowledge we will never know why. Reading and understanding what others have writen is a great way to learn. Simply decompiling a commercial EA to study it and learn from it is harmless enough, its what you do with it after that.

**pipdetector** · 2009-07-10, 05:05 AM

I guess that none of the FAPT user has not noticed that a new campaign is on. I guess FAPT salebility has gone down over the time and now we are being baited with another solution that has "Evolution" in the name.

However, this time they are selling not only that but require us to switch the broker

(BTW, FAPT Evolution is going to use "bridge" to interface with the broker

platform).

Another "nice" observation
1. The minimum live accunt balance is 10000 USD (and this is only for limited time because normally the opening balance with the broker

is 50000 USD).
(because this FAPT version is for "serious" traders

)
...

**pipdetector** · 2009-07-14, 07:52 PM

I wonder what is the minimum position size on Dukascopy...

BTW, is everybody on holidays...

mitaji · 2009-07-15, 01:27 AM

I must admit these guys are good at marketing. Dukascopy minimum trade size should be 250k but Ive seen some statements from the four beta testers have 100k (standard lot) trades.

**pipdetector** · 2009-07-15, 03:50 AM

Now, I wonder if this means a temporary concession on part of Dukascopy or a permanent "feature" of FAPT evo users accounts.

One point

that the ea authors do not draw attention to is that although this time there will be only 2000 Fapt evo users, average account size may be higher because it will be at minimum $10000. Assuming that still only the 4 currency

pairs will be traded and that they will use maximum leverage

on Dukascopy (1:100), they will command 50M per each currency pair

. I am pretty sure that if FAPT is still trading Asian session hours this may affect the price...