Week 1 Fap Turbo Results and Report
Posted by | Posted in Automated Forex Trading Systems, Fap Turbo, Trading Results | Posted on 02-12-2008
January 2010 Update: Read my latest Fap Turbo Review here.
There’s been some requests for testing results, so I decided to post the results for week 1 a bit early and then maybe post an update after the end of the week. I installed Fap Turbo on a $5000 demo account on 25 October 2008 and let it trade using the default settings. I enabled auto lot management, but apart from that all other settings were left on the defaults.
Over the past 5 trading days the Fap Turbo robot has made a number of profitable trades using both the short term and long term strategies and the account has grown to $6940. The detailed statement for this account can be seen below. As you can see, there is 1 big losing trade of $598 at 2008.12.01 00:00. This trade was closed as a result of the setting that specifies that all losing trades should be closed at month end. This setting can be disabled, but I’m not sure if this is a good idea yet.
As of yesterday, the long term strategy shows a status of “NO Trade Today”, which means that according to the internal indicators, the market is not safe to trading. This is a good example of how Fap Turbo is different from the original Forex Autopilot.
I have decided to take my testing of Fap Turbo to the next level by opening a live account with InterbankFX. This will take a few days to process, but if all goes well I will be live trading with this system early next week. More detail on this later.
January 2010 Update: Read my latest Fap Turbo Scam review here.
I noticed you are trading the GBP/CHF! My broker has a 9-pip spread on that???? (FXDD) Also, the USD/CAD has a 5-pip soread. IN the instructions for the scalper, they said not to use spreads that big???
You’re right about the spreads Mike. My GBPCHF currently has a 12 pips spread through IBFX and USDCAD has a 5 pip spread. I was in such a hurry to get going with Fap Turbo that I missed that. Luckily it still made a profit on both of those in spite of the high spread.
I opened a live account with IBFX yesterday, but before that I spent a couple of hours looking at other Metatrader brokers and I just couldn’t find any that had 2-4 pip spreads on all 4 currency pairs that the scalper trade with.
I notice that the IBFX accounts they use on the Fap Turbo homepage also trade those 2 pairs, so I’m a bit confused about what to do. I understood that the scalper would simply not trade if the spread is too high, but it seems that this is not the case.
Hi,
Thank you so much for such an interesting blog! Please tell me what do you think about Forex Killer? Thanks! Have a great end of the year!
Hi Chris,
I am anxiously waiting for FAP Turbo results from week 2, any news to report?
Thanks
Chris,
Thank you for posting your results. Have you got any results for the 2nd week?
Bob – the week 2 results are here.