FAP Turbo

June 2009

FAP Turbo is an Expert Advisor (EA) FX Robot which has been one of the biggest hits on the internet over the past number of months. They already have thousands of customers, and the results of some people’s trading accounts have been staggering. What they don’t tell you though, is that those staggering results are mainly due to taking an excessive amount of risk.

There is both a long-term and short-term scalping EA and you can run both at the same time on the same platform. Our personal results so far have shown the short-term strategy to be fairly effective and the long-term not to be very effective at all.

The internet has been flooded with bogus reviews of this trading robot that either regurgitate information from the FAP Turbo sales page without having even used it themselves or give glowing reviews that don’t realistically reflect how it actually performs. We have been testing this EA since November 2008 and below we will give you the real story on how this EA has actually performed for us.

Some brokers dramatically increase the spread between the bid/ask prices when they detect the FAP Turbo EA, therefore making it very difficult if not impossible for the robot to run profitably with those brokers.

We have seen that the actual results differ wildly from broker to broker. It does very well on some brokers, and not so well on others. And the results on live accounts are often different from demo accounts.

We’ve tested it on the following four different brokers, only one of which has been a live account. We are conservative in the setting we use so that not more than 5% of our capital is at risk per trade.

Short Term Strategy:

Although we have been testing this EA since November, we only have the data for the last 3 months. This strategy makes a handful of small trades daily for small profits with trades typically being closed out within one day.

Long Term Strategy:

We have not been crazy with the money management use on this strategy, so have only tested it on a couple accounts. This strategy makes a handful of trades per month and trades can be open for one to two weeks, often sitting in a drawdown for some time.

We have observed that the results vary considerably depending on what time of day the EA is allowed to trade. It seems to work best during the one or two hours when the market is the quietest and least volatile. The possibility for losses dramatically increases when it is left to keep trading when the market starts to make bigger swings later in the day.

Overall, we’re happy with how the short strategy performs. We will continue to test FAP Turbo and report on our results. Thus far, it does not perform at all on FXCM. We will test a little longer on demo accounts with ITFX and FSCBS. Providing it continues to perform well, we plan to open live accounts with one or both of those brokers and see how it performs live.

They claim that they will be raising the membership fee soon, but as of now it is still very affordable, and only a one-time fee. Click here to visit the FAP Turbo website and learn more.

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