Relating to this Review:
Also some technical information that might tell you a bit more about this forex software, even though after roughly two months using the FAP Turbo, I considered important to share in this review not only details about the performance I have experienced so far.
A look at the FAP Turbo Claims:
The creators from the FAP Turbo launched the product using a basic claim comprising three different real cash accounts that basically tripled their equity more than a three month period.
They dedicated to showing live statements of those accounts, rather than throwing bold claims about people becoming instant millionaires with FAP Turbo. This approach makes this software stay ahead of the group, and was one of the reasons I had better expectations regarding the FAP Turbo when I first got it.
What is in the box?
* You will definately get the FAP Turbo which can be small file which will act as an expert advisor inside a Metatrader4 trading platform. In this file you can find what some look at a refined version from the FAPS which trades only in EUR/scalper and USD that trades on several currency pairs.
* The FAP Turbo manual.
* Accessibility FAP Turbo members forum.
* Monthly updates from the software, which can be critical that you should have.
Concerning the FAP Turbo creators:
Ulrich is an open source programmer, Mike is a some sort of complex number wizard, and Steve Carletti is the lead developer of the FAP Turbo, and some say that this software is based on the FAPS source code from which it was enhanced and rebuilt to be more adaptive and also to trade on multiple currency pairs through what is called the FAP Turbo Scalper,. That’s although I cannot 100% confirm this, the word.
FAP Turbo Support:
The FAP Turbo provides a phone number plus an e-mail address. Do not even bother, as you will get an answering machine that cannot take more messages, as for the phone number. Based on the email, expect to wait several days to have an answer (at least which had been the situation on the launch phase, maybe it has changed).
The best choice for effective and quick support is the FAP turbo support forum, which can be very active and you may often see the developers stepping in answering questions and helping with any issue.
FAP Turbo dynamics:
The internal logic behind the program is proprietary, so an inside look regarding how the FAP Turbo works is essentially impossible.
Let us have a look at what I think is the most innovative and interesting part of the FAP Turbo, however: the Scalper.
* The FAP Turbo scalper trades only on EUR/GBP, EUR/CHF, GBP/USD and CHF/CAD on the 15 minute chart (this should not be changed).
* The scalper will usually attempt about 6 trades daily (dependant upon the market conditions it may trade just once). The net profit range used by the program is around 6 to 15 pips.
* It can usually enter in the market from your close of the New York session entering the Asian session, opening trades toward the craze, which basically means it follows a known patter of the forex market.
* The stop loss parameter ranges from 50 to 100 and it is presumably based on the FAP Turbo scalper depending on the currency pair used and recent price movements. Also, there seems to be some sort of time limit for closing trades.
* The FAP Turbo features a “stealth” feature that I first saw in the Forex Autocash robot, which is the ability to hide the read stop loss and take make money from the broker, in order to avoid price tampering and adjustments by some unscrupulous brokers that are believed to take part in this practice.
FAP Turbo Performance
The FAP Turbo is probably the first EA to publish real cash statements in its website, as well as the performance displayed in those statements closely resembles that of other statements published by some users around the web.
Among friends and family I have my brother who has traded a $5,000 up to $19,758 in two months, but a friend of mine who recently purchased the FAP Turbo traded a $1,000 account up to $1,230 in one week and over the last three weeks he is back to $1,097. My own account up to now has brought me from $500 up to 1,954. According to your own preferences, the results vary depending on the settings you use, that is why it is very important to test the FAP Turbo on a demo account first, so you can adjust your risk parameters. This can have an affect on the growth of the account, so ensure your read the pdf manual.
Because although it did not end up with an overall loss for the month, its performance slowed down considerably compared to the previous months, january was a particularly rough month for those trading with the FAP Turbo. In February the program seems back in line but we must find out how it ends by the end in the month.
Despite the January setback, the FAP Turbo remains the most reliable and profitable EA I have owned or reviewed, so if you are thinking about using an automated trading tool I think this is the one to look at.
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