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How to Trade with FAP Turbo and Maximize Your Profits |
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The FAP Turbo Forex Robot is without a doubt the most popular forex trading robot on the market. Since its relatively recent release it has gained huge popularity and has caused controversy with some brokers because of some of the methodologies employed. The FAP Turbo uses its own proprietary strategy but it is widely accepted that it trades on price action and looks for short term market moves and a relatively small profit per trade. As any experienced Forex Robot trader will tell you, whether you actually make a profit or not at the end of the day will depend largely on the settings you use. Often these settings have been optimized over a period of months and "tuned" according to the market conditions and the particular currency pairs in use.
by BrendanWilson
The FAP Turbo Forex Robot is without a doubt the most popular forex trading robot on the market. Since its relatively recent release it has gained huge popularity and has caused controversy with some brokers because of some of the methodologies employed. The FAP Turbo uses its own proprietary strategy but it is widely accepted that it trades on price action and looks for short term market moves and a relatively small profit per trade. As any experienced Forex Robot trader will tell you, whether you actually make a profit or not at the end of the day will depend largely on the settings you use. Often these settings have been optimized over a period of months and "tuned" according to the market conditions and the particular currency pairs in use.
Your choice of broker is also an important factor in deciding whether or not you are a profitable trader or not. Brokers aren't all the same. Deciding factors can be such things as the speed and quality of their data feed and the speed of their trade execution. The simple fact is that forex brokers can and do manipulate price data feeds often to the detriment of your profitability. They have a variety of tools they use to achieve this through such things as delayed execution and slippage. I have monitored this on many occasions and logged the amount of slippage during all types of market conditions. The conclusion: many brokers do manipulate price feeds and trade execution, so choose your broker wisely.
Often when testing robots I would witness the same robot make a profit with one broker only to be losing or making a considerably smaller profit on another. In the past I have experienced first hand brokers who either refuse the use of FAP Turbo through their brokerage or place all the FAP Turbo traders on a different trading server with altered trading conditions. When brokers start to take notice of a particular Forex Robot, it is probably a good indication that it is profitable.
That is all good and well but how do you know which broker to choose, or which ones to avoid? There is the old trial and error method that will help you work out eventually which broker to use, if you don't send yourself broke in the meantime. Or alternatively you can check around the myriad of forex forums for some guidance on which brokers to use. Just keep in mind that everyone seems to have an opinion on this subject of what constitutes a fair and honest broker and many also may have a commercial interest in referring you to a particular broker. Keep these factors in mind when you choose a forex broker.
As for the settings this is also another challenge. There are a large number of variables which can drastically effect the profitability of the robot, any one of which may well determine the outcome. Whilst demo trading certainly helps you decide on the best settings, the chances are that it does not mirror the actual trading conditions encountered with a live trading account. From my experience the price and trade execution can vary greatly. So it may well be necessary to "tune" your robot with a live account.
Optimizing the settings for FAP Turbo can be a time consuming and somewhat frustrating task as you really need to be forward testing the robot, as experience as shown that while back testing can give you some indication of relative profitability ultimately of course it largely depends on the quality of your price data and can not factor in such things as the quality and speed of your brokers trade execution. Whatever you have read on forums, back testing is very limited in its scope and accuracy and can therefore only give you a very broad indication of whether your settings will prove to be profitable. To bypass this task you also have the option of using The FAP Turbo Expert Guide. The FAP Turbo Expert Guide was written to cater for forex traders of all levels of experience so that all readers can get the most out of it. It was written by Rob Casey who is suitably qualified to be an expert in his field of developing and tuning forex automated trading robots. The guide gives you all the information you need to easily optimize your FAP Turbo robot and start trading profitably.
Another factor you need to consider is the impact of recent changes in NFA regulations. This has had a tremendous impact on the retail forex industry globally. We have witnessed monumental changes with the biggest players in the retails forex industry and the full ramifications of these changes are still being felt. Many brokers have shifted their client base or a significant percentage of it offshore to Europe, Australia and the Middle East.
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How to Trade with FAP Turbo and Maximize Your Profits