Fap Turbo Forex Trading Robot Launch Review
Posted by | Posted in Automated Forex Trading Systems, Fap Turbo, Product Reviews | Posted on 24-11-2008
Is Fap Turbo Just Another Scam?
January 2010 Update: Read my latest Fap Turbo Review here.
There has been an incredible buzz around the launch of the Fap Turbo Forex trading robot and like many others, I have been caught up in the hype. The question is, am I going to waste my money or will this robot be the real deal ? The reason for all the hype is quite simple: Fap Turbo offers solutions to the problems that are commonly experienced with other Forex trading robots. The common problems with trading robots are:
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High Drawdown
Drawdown is usually the biggest problem with Forex robots..many products show a very high percentage of successful trades, but the successes are accompanied by large losing trades that can be devastating to your account. In the case of Fap Turbo, the real and back tested results show maximum drawdowns of 1% or less which is better than the most conservative manual trading systems out there and unheard of in the Forex robot industry.
See the Latest Live Trading Results of Fap Turbo Here -
No Stoploss
The secret to the high percentage winning trades of many Forex robots is the fact that they employ very wide stop losses or even no stop loss at all, resulting in large drawdowns inside single open trades. While this strategy greatly increases the number winning trades, it also introduces a large risk factor, because a single losing trade can effectively wipe out a whole account. In contrast to this, Fap Turbo uses a conservative, fixed stop loss to greatly reduce the risk. In addition to this, the developers also went one step further by introducing a feature they call “Stealth Mode”, which virtually eliminates the risk of broker interference as well.
Read More About the Fap Turbo Stop loss and Stealth Mode Setting Here -
Misleading/Fake Backtesting Results
Backtesting reports are currently the most common methods of proving that Forex robots work. The backtesting feature inside Metatrader is in fact a very effective tool for testing automated trading strategies but it also has some loopholes and unfortunately these loopholes are exploited by many of the Forex robot developers to produce impressive results that are not achievable in live trading at all. Due to this, backtesting reports should always be taken with a pinch of salt. While Fap Turbo has a very impressive backtesting report on their homepage, they have put a lot of effort into proving that their system works in real trading accounts. To accomplish this they are streaming live trading results on their homepage.
See the Latest Live Trading Results of Fap Turbo Here
These are the main reasons why I decided to buy Fap Turbo. I have spent the last few days reading their promotional material, watching their videos and checking out the live accounts that they have on their site and so far haven’t come across anything that raises the alarm bells yet. At the time of this post they have not launched the Fap Turbo yet, but I will be one of the first in line when they do. I dont know if there will be a limit to the number of copies sold, but this time I’m not waiting around to find out. I will post more detail as soon as I have had a chance to see how the product works.
January 2010 Update: Read my latest Fap Turbo Scam review here.
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Hey Chris!
I’ve bought my share of Forex ebooks and I did test out one of the Forex robots in the past, which was not successful. The robot had a stop loss of 250 pips…looking back I should have known better.
I’ve had a number of great trades on the 4 hour charts in demo. The one thing that caught my attention about Fap Turbo was the stop loss feature. I plan on buying it and testing it myself. Let me know how it goes for you.
Good Luck!
Chris, I just bought it…I will be back with my results!
Hi DeWayne,
I’ve been running Fap Turbo on my demo account since last night and so far it’s looking good. The short term strategy has made some profitable trades and the long term strategy is currently over 300 pips in profit with its open trades.
I’ll post some details of my own results in a few days.
Thanks
Chris
Excellent!
So far, I like what I see. I looked over the live trading on the FAP Turbo site and after analyzing their current stats, decided remove the USD/CAD currency pair for short term trading, it did not do so well from what I could see.
Their live trades helps narrow down what may be the better choices. The other pairs look great for short term.
The EUR/USD is an excellent choice for long term, being that it is so trendy!
I’ll come back with more details after a few days
DeWayne
How about over weekend trades required. I don’t lie to do that as it can open way up or down then u owe money.
Hi Parth,
FAP Turbo is set to trade Monday – Thursday on mine. It does not trade on Friday. This of course, can be adjusted. So far, from testing FAP TURBO, you don’t have to worry about trading over the weekend…the EA (expert advisor) sleeps over the weekend.
One thing to note is that even if Friday trading is disabled, the system won’t just close any existing open trades. Trades that are already open when Friday starts will stay open until they are closed out by profit or stop loss targets as usual.
Parth you are right, big gaps on Monday opening can cause big losses, but the reverse is also true. With Forex Autopilot I found a couple of times that losing trades from Friday ended up in profit when the price jumped in my direction during the Monday opening.
Excellent points Chris, so far it’s doing phenomenal! I’m really enjoying this product and I hope the demo trading profits continue.
Thank you for your review of FAP Turbo. We appreciate you sharing your opinion and doing the research needed to fairly evaluate the robot. We have seen fit to link to this article in our independent FAP Turbo Forex Trading Robot Reviews section. Anyhow, keep up the good work spreading truth.