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The Fap Turbo Review
from FAPTurbo.com
Product Description of the FAP Turbo Trading System
The FAP Turbo System is a forex trading robot that automates all your trading activities once you have set up the trading parameters. It takes care of entries, exits and even your position sizing. Developed by the FAP Turbo team of Steve Carlette, Mike and Ulrich, it is the evolution of the original Forex AutoPilot (FAP) Trading system pioneered by Marcus B. Leary.It is because FAP Turbo automates all your trading that it helps to remove the psychological and emotional aspects of handling your trade orders.
There are 2 trading strategies within the FAP Turbo System:
- The Forex Scalping Strategy
- The Long Term Trading Strategy
With these 2 strategies running side-by-side, you get diversification not only across currencies, but also strategies.
For experienced traders, the FAP Turbo allows you to modify the parameters to find a setting that suits your risk profile and trading objectives. For most traders who are new to Expert Advisor (EA) trading, the FAPTurbo team regularly updates the default settings so you get up-to-date parameters for trading the current markets.
There is a companion guide to the FAP Turbo system to help traders make the most of it. Released by Rob Casey, the FAP Turbo Expert Guide teaches users how to increase your ROI while maintaining low drawdowns.
This is one of the few automated forex trading systems that actually trades with real money and publishes their results to the web for all to see.
What You Get With Your Purchase:
- The Short Term FAP Turbo Scalping System
- The Long Term FAP Turbo Trading System
- Life Time Upgrades
- Custom 1 Click Installation FAPTurbo Software
- Access to the Private Members Only Forum
- FAP Turbo EA that allows you to configure your own trade settings
Check Out Rob Casey's FAP Turbo Expert Guide >>
Product Research on the FAP Turbo Trading System
From our research, the FAP-Turbo is a very popular and solid scalping system. In the initial launch, it literally doubled and tripled the accounts of many traders. In a way, it is because of its popularity that may created liquidity issues when thousands of traders placed their orders at the same time. However, as the markets settled down to absorbing the number of traders using FAP Turbo, this issue has been resolved by traders moving their accounts to different forex brokers that are forex robot friendly.
Frequency of Trades by FAP Turbo
The good thing about FAP Turbo is that it trades very regularly. Depending on the number of currencies you decide to trade, you can have 3 - 4 trades every other day. Although FAP Turbo's claim to fame is its scalping system, there are days where this forex trading robot sits out of the market.
FAP Turbo is Spread Sensitive
The scalping system is very sensitive to spreads, so choosing the right broker is vital to having success with this particular scalping robot.
Diversification of Strategies
While mainly a scalper, FAP Turbo also has a "long term" system which trades the EUR-USD pair. This long term system tends to trade less often than the scalper, and is designed only to trade the EURUSD. The benefit of having this long term trading system is the diversification in trading strategies.
Getting the Best Settings for FAP Turbo
From the comments that we have read about the FAP Turbo trading system, it is the ability to tweak the trade settings that causes issues for users. Many users who purchased the FAP Turbo trading system tend to take high risk which over-leverages their accounts. And when a loss or string of losses hit, their accounts get blown out of the sky.
That said, being able to tweak the settings has allow users to customize FAP Turbo to their personal trading and risk preferences. Although there is some material within the FAP Turbo educating the user on the trade settings, it is not sufficient to bring the trader up to speed.
To fill this need, the FAP Turbo Expert Guide was released by Rob Casey. It teaches FAP Turbo users how to tweak the settings to get better ROI and lower drawdowns in their trading.
Our Verdict on the FAP Turbo Trading System
After long term research into the FAP Turbo Forex Trading System, some of the comments that we have found indicate that while the FAP Turbo Trading System can generate a lot of profits, it is also susceptible to periods of huge drawdowns. It's not easy to replicate the trading results shown on the FAP Turbo website, and you would always have to be fine-tuning and tweaking the settings as market conditions change.
This makes the FAP Turbo System quite unreliable. Even though it goes on a good run of profits, it takes a bad loss and wipes out all the gains. This system seems to be more hype than substance, and it would not be a tool that we suggest you build your trading strategy around.
If using the FAP Turbo still tickles your fancy, then we recommend that you use a very small portion of your account to play around with it. Tinker with the settings and see what you can come up with. It is still however only a tool to be used by the astute trader who really knows what he or she is doing.
In any case, getting the FAP Turbo Expert Guide is a good way of learning how to change the settings to get better results. If you want to trade the FAP Turbo, we suggest you also purchase the FAP Turbo Expert Guide to get a better idea of what to do with your EA in order to fully maximize its potential.
Visit the Official FAP Turbo Website >>
Check out Rob Casey's FAP Turbo Expert Guide >>
User Comments and Feedback on the FAP Turbo Trading System
These are some comments that we found on the FAP Turbo Trading System:
Purchased Fapturbo about 6 weeks ago as a newbie and have found it an excellent way to get started at Forex... They have a members forum which is not only very informative but also essential reading as you get a lot of info and tips about how to run the software. Whilst it will run "straight out of the box" at default settings, by finding out what others do will help get bigger profits and fewer losses. Also subscribed to FapTurbo Expert Guide and have found it extremely useful and good value for money"
Portion of actual user review on forexpeacearmy.com
"I've owned FAP-T since it came out Nov 25, 08. I've had it on several accounts in that time, but I dont currently run it on a live account. I find it too unreliable. Every time it gets going with a good run it takes a bad loss and wipes out the gains... This EA has enormous potential, but it also has a high degree of risk, and the pairs it trades are the worst choices for most accounts."
Ken Long ~ http://www.forexpeacearmy.com/forex-forum/forex-software/3518-fapturbo-com-23.html
I bought FAP in December last year (2008) and after using demo for 5 weeks, went live. I was impressed and opened a second live account and also a second copy of FAP. Ir _was_ a good performer but they have stopped giving regular updates and for the last 3 or 4 months it is very unimpressive. The developers have deliberately started promoting a "settings" service for a fee and those that don't subscribe end up with mediocrity. I hear the settings service delivered but the FAP team lost me because the promise they gave to us foundation buyers has been broken becasue they have moved into this "spin off" services market. In summary, I liked it a lot when it was new and regualrly updated and now I think it is disappointing. Doesn't lose a lot but it does not make a lot either."
Portion of actual user review on forexpeacearmy.com
My advice is to find a broker with a low spread -it is not easy but you can do it if you are seriously intended to make money. Of course no one take you hand by hand to profits - you should do your homework!
Fapturbo is a right tool to start trading however your brain is also needed!
Also don't forget to read the calender to avoid days when major news events are released. "
Portion of actual user review on forexpeacearmy.com
Visit the Official FAP Turbo Website >>
Check out Rob Casey's FAP Turbo Expert Guide >>
Have you used this product?
If so please leave a comment below.