FapTurbo Forex Expert Advisor (EA) REVIEW, SETTINGS & Weekly Live Trade Analysis

[pharoh777]

FapTurbo EA Reviw, Performance and Settings:

Here is the first EA I ever purchased and my first real experience with forex. Interestingly enough, I still use it. It is now Version 54 after 53 updates! A good sign that the vendor is continuing to monitor performance and making changes based on market conditions.


What Is FapTurbo?


My experience has been that the returns are not insane returns but very, very consistent. FapTurbo is a scalper that trades during the Asian session. It usually opens first position around New York close or an hour before. It takes anywhere from an average of 1-3 trades per session It trades on the 15-minute timeframe. Trades Monday through Thursday although you have the option to use it Friday (I wouldn't). You have the option to trade 7 pairs (Usd/Chf, Gbp/Chf, Eur/Chf, Eur/Gbp, Usd/Cad, Eur/Usd, and Gbp/Usd) In case anyone is wondering, my experience with this EA has led me to only trade it with USD/CHF. From all my prior testing this was both the most profitable pair and the other profitable pairs were just barely profitable.

Keep in mind that I have seen posts in the past (on FapTurbos own site) from customers who were able to make 800 pips in one week with this EA using all the pairs. That has NOT been my experience with this product and I don't want to have 7+ trades going in the Asian session when liquidity is low. Just need one really good spike or intervention to blow out all trades and remember that using a very conservative 3% (most FapTurbo users use much higher risk %), that 3% X 7 Trades = 21% risk!!! Yikes. No thank you. I'll take my 22% return from the one pair and not expose too much capital thank you very much! Also, when you trade 7 pairs during the same session 4 times a week, the analysis of what's really working can get messy.

I’m just going to include my settings AND live performance updates in this thread instead of doing a separate one since there is really only two settings that I changed. And also, I will be doing weekly performance updates for FapTurbo instead of daily updates like some other EAs. The trades are really so predictable that a daily analysis really isn’t necessary. Trades are opened one hour before NY forex market close and as one wins, usually one in the opposite direction is opened. Many times drawdown takes most of the session with one order and then it comes back and closes out for a tiny gain or a tiny loss. The max t/p is 9 pips. I have adjusted the maximum s/l to 60 instead of the default 80 pips because it improves the r/r (as dismal as 1:5 is) and doesn’t affect performance much. The daily range on the CHF is so small that a 60 pip move is good enough to get you out in my opinion and confirm that the trade was a loser.


2011 Performance: USD/CHF ONLY PAIR TRADED. USED 3% RISK

Gain: 22.89%
Max Drawdown: 5.53%
Trades: 291
Pips: +437
Overall Win %: 74.57%
Profit Factor: 1.42 (a touch low but acceptable because of consistency and 3 years experience with product)


Pros:

1. High win %
2. Very consistent trades
3. Trades during a low-volatility session
4. It has a long winning track record for me
5. Very easy to use
6. A very low risk EA if used at less than 5% risk (I personally use 3%)
7. Does not interfere with other EAs very much as does not use much margin and trades when other styles do not
8. Relatively frequent updates that modify with market conditions

Cons:

1. Terrible reward/risk ratio (1:5+ but compensated by high win %)
2. Very slow growth
3. Trades can take a very long time (1-5 hours sometimes) to make 1 pip or lose 1 pip

Overall: I highly recommend this EA and it is the first one I ever used and I have used it for the last 3 years and it has put tidy little returns in my account consistently with very low drawdowns. It wins most of the time and doesn’t need much intervention at all unless you are updating a new version which comes out around every six months. It is one of the only “set and forget” EAs one can use safely. Remember NO EA is completely “set and forget” but FapTurbo is about as close as you can get.
If you are interested in purchasing FapTurbo, please do so through our link as although I am personally not affiliated with ANY of the EAs I test and discuss here, buying through our link helps keep this site offering the best in honest and real forex information, education and support. You can get it here:

FapTurbo Vendor Site Link

In my next post in this thread, I will post my settings and my results so far from this year. Please don’t hesitate to ask ANYTHING, or question anything. I welcome all comments and respectful debate. I want us to all work together to make the most possible $$$ from our little employees better known as EAs!!

[pharoh777]

As promised, I'm going to list my settings for FapTurbo 54. I really didn't change much so this will be pretty short. Then I will list my current cumulative performance stats for the current 2012 year.


FapTurbo 54 Settings for USD/CHF on 15-Minute Timeframe:
(Note: I am only listing parameters I have modified or that need attention)


Use Scalper Strategy: TRUE
Scalper Use MM: TRUE
Scalper Lots Risk Reducer: 3.0 (Represents Risk % per trade)
Scalper Use AutoGMT Offset: TRUE
Scalper USDCHF Take Profit: 9
Scalper USDCHF Stop Loss: 60
Scalper StealthMode: TRUE (hides true t/p and s/l from broker)
Scalper Custom Levels: TRUE (This lets FapTurbo developers make changes to settings if market conditions change dramatically)
Scalper Trade Monday: TRUE
Scalper Trade Friday: FALSE


That's it. Every other setting I'm pretty sure I left to default BUT if anyone needs a clarification or explanation of a setting I didn't cover (or did for that matter), PLEASE don't hesitate to ask and I will answer to the best of my ability.

I left my risk at 3%. Many of you may have noticed that my standard EA risk is around 5%. How very observant. The reason it is 3% is twofold. First off, if I let FapTurbo take a 5% chunk out of the account, it takes too long to replace it. Second, FapTurbo does not have as high of a win % as Megadroid and there is a greater possibility of say two losses within the same week. So I just run it like a conservative little savings account. One pair, 3% risk. I can not worry too much about what's going on with it and just run weekly numbers to keep track. Speaking of, here are the 2012 numbers so far:


FapTurbo 54 2012 Cumulative Performance Stats (1/11/2012-2/01/2012):

Trades: 16
Pips: +44.5
Win%: 50% (most losses are very small, average loss is 0.05 pips this year so far!)
Gain %: 0.92%

Slow and steady wins the race! I shall start doing weekly updates at the end of next week so everyone can follow along with the results.

Again if you need the vendor link here it is:

FapTurbo EA Vendor Site

Check back soon for more results!!

[mango67]

WOW, is this EA still around? The new version came out a few years ago, (I forget the name of it) with huge fanfare & started spectactularly, but faded badly in the following months.

[pharoh777]

Yes, this EA can get very ugly if used the wrong way. I have personally heard of people making 100s of pips in one week with it but they are probably using all pairs with high risk and they are the same people who then bash it when it takes a huge swipe at their accounts. This is why you see my settings are ultra conservative. I don't look at this EA as a big money maker. I simply use it bring me a few extra percent per year with relatively low risk and a low stress-factor.

[pharoh777]

Certainly nothing spectacular about this week for FapTurbo. Ended up being a bit of a loss, but not much.


FapTurbo 54 2012 Cumulative Performance Stats (1/11/2012-2/10/2012):

Trades: 22
Pips: +45.3
Win%: 45.4%
Gain %: 0.83%

The win % seems historically low for this EA so the markets still must be bad for it to trade. That being said, I think it's going to get better.

[raa]

You might be interested in this article EAs are dead. Long live EAs! - Profitable Automated Forex Trading - Expert Advisors for Metatrader - EA - TulipFX.com

[pharoh777]

As always Raa, you bring a lot to the table. Thank you kindly sir!! Very interesting article. I have heard this argument as long as I have traded EAs. I have contemplated it and have heard many great points on both sides. Here is my take on it:

Problem with the theory is that everyone and their mom uses stuff like horizontal s/r, Fibonacci, trend lines etc.... AND THEY ALL STILL WORK!!! Do they work ALL THE TIME??? NOPE!!! Why would an EA strategy be any different???? EAs just use a combination of manual trading strategies (the good ones) to automate it. Many EAs are made, some are sold commercially. It makes a fantastic narrative for a vendor to say "limited copies available so we don't "wreck the market"". HA HA DOUBLE HAAAA. Wreck the market??? You are in the market with sovereign governments, the largest financial institutions, and VERY sophisticated large traders who don't give boo about any commercial EAs. Your little system sold to even 10k traders isn't going to do much to the market itself.

Second point is that what would happen if everyone used FAPTurbo and all got the same signal??? If enough capital in the market buys, price goes up so you would win your trade. BUT!!!!!! Because everyone was trying to get the same price at the same time on the same signal, only the best executing BROKER would win (remember the word broker). OR if enough capital KNEW everyone was going to trade with an EA a certain way they could put MORE capital AGAINST the trades and push all the little EA users to s/l and bank.
ARE EITHER OF THESE SCENARIOS LEGIT??????? NOPE!!!!

Scenario 1 is impossible because you'll never get enough people to agree to do anything the same way at the small level of trading. So even though SOOOO many people are allegedly using a product and damaging its own performance (although this is actually counter to what would really happen), I very much doubt that many of them will be using the same pairs, settings, broker, account type, execution etc...........

Scenario 2 while not impossible is highly improbable because that would be huge financial commitment just to squeeze out a some silly EA users when the Asian session is rather flimsy of a session. AND if it was happening you would see hugely increase volume and programs like FAPTurbo and Megadroid wouldn't trade because of increased volatility.


SOOO WHAT'S GOING ON THEN?????

Well, as I said before all systems do NOT work in all markets. That is the holy grail and that just doesn't exist. Markets change from year to year. We just witnessed financial crises on a global scale of unprecedented proportions folks. You think we're seeing stable and consistent financial markets yet????? So while it is easy to blame and EA for failure even though it did well in the past, the larger market picture is not being taken into account usually in this discussion. Just because last year was a flop or less then the year before DOES NOT mean the show is over, but it COULD mean the show is over. If the market makes a fundamental change that does not favor your EA, it cold fail until the original conditions or more favorable conditions return. OH does that mean there is some conspiracy and it's because people sold too many of a certain EA? Nope. Just different markets. We just stop using the EA until better conditions return or we grind through because in the long run it will get better again.

Point 2 is that BROKERS are AGAINST retail traders for the most part. They want to take as much money from you as humanly possible. Oh and guess who can run sophisticated statistics on it's little group of customers??? That's right A BROKER. I recently contacted my broker about a 15 PIP SLIPPAGE!!! I gave the order number and they responded back that "if you are going to use MDP, then you can expect this to happen from time to time". I MENTIONED NOTHING OF MDP IN MY EMAIL TO THEM!!!!! They knew because brokers know what you are doing with your account and a little piece of program can analyze all your trades and correlate that to commercially available EAs. OH NO!!!! But a little thing called free market competition is on our side. You see, brokers see other brokers fleecing their clients and think, I can fleece a little less to gain new customers and then another broker sees that and says, I can fleece a little less and take their customers. But it is a minefield out there. There are plenty of brokers who do all sorts of dirty tricks to make your EAs lose. NEVER USE A MARKET MAKER BROKER!!! But even the good ones are loathe to really give retail traders enough ooomph with technology to make us competitive with the big boys. But we can still use EAs to make money with the right broker.

So all I'm saying is, BE CAREFUL!! BUT NOT HOPELESS!! I absolutely welcome anyone's opinion on this subject because I have just shared mine. Any respectful debate and discussion is totally welcomed!!

[pharoh777]

Took a full-stop this week. VERY frustrating. As you can see, win % is terrible this year so far!! But it is expected that FapTurbo will have productive periods and bad periods. I also want everyone to know that I am working on finding a "better mouse-trap" to replace FAPTurbo during the Asian session. I have a few possibilities and if the vendors cooperate, I will begin testing them in "due diligence" soon.

FapTurbo 54 2012 Cumulative Performance Stats (1/11/2012-2/17/2012):

Trades: 27
Pips: -13.4
Win%: 41.0%
Gain % -0.95%

Before the loss: +45 pips After the loss: -13.4 pips
As you can see with scalper EAs, the margin is very tight. One full stop loss can erase more than a month worth of gains. I will say this though: during the same time period last year FAPTurbo was up +3.73% by the end of February so we are seeing a noticeable performance difference this year. We shall continue to monitor performance and suspend trading activities with the EA if necessary.

[pharoh777]

Very boring, flat week for sure. I think my gain/loss in $$ terms was $1.30. Wow, what a return! Let's hope for brighter days ahead!!

FapTurbo 54 2012 Cumulative Performance Stats (1/11/2012-2/24/2012):

Trades: 32
Pips: -10.7
Win%: 40.62%
Gain % -0.98%

Sooooo, after two months of trading this has changed the account less than 1%!

[gb1]

Pharoah: your FAPTurbo is interesting. I see you use more than one EA.
If one uses more than one EA does one need more than one MT4 platform?
If so, must they be downloaded through different brokers or the same broker?
If one has more than one EA is it advisable to operate with a different broker for each one?
gb