Is FAP Really a Set and Forget Money Machine???

[munymuny]

Hi All,

I have been using FAP for days now on a demo and once on a live account.

I have tried a myriad of settings and backtested hundreds of times with the settings that people have mentioned here as effective.

So far I have been unable to find a setting set that is reliable for a whole year of backtest trading for 2008. The final results for one year are close to ordinary and I am having second thoughts about the ability of this robot.

Has anyone else done backtesting extensively and proven settings and if so can they **** please !!! **** publish as I am getting seriously annoyed with this robots published ability.

Thanks for reading.
MM

[munymuny]

Still curious if anyone here does set and forget? and what settings you use.

Thanks
MM

[^eagle^]

Still curious if anyone here does set and forget? and what settings you use.

Thanks
MM

If you backtest FAP right out of the box it performs remarkably well on accounts greater than 5000 usd. You have to adjust the lotsize for smaller accounts.

But most people are not willing to wait three to four weeks for a 20 pip trade to complete.

Backtest it yourself and see.

If you do not need to draw out the money then this might be the way to go.

You also have to be able to take large end of the month losses but in the end its the net profit that counts.

[munymuny]

I am curious at to why there are end of the month losses?

Are all trades closed automatically at end of month?

Curious
MM

[FXAP]

I installed it default, no stop loss, 30 slipage, 200 take profit (tp). Or 3 slipage, 20.0 tp for 4 didgit brokers.

First day was excellent, using FXDD. I made 6k that day on a 3k demo account.

Days after it would trade good for about 10 trades, then lose a trade 8x's a profitable trade in one trade.

But in the end, the profit was enough to cover the losses in the month.

1 week later, (leaving FAPS on 24/5) it didn't make one trade. Till today. It didn't trade for 6 business days. Here are the results of the trades it made today.

FAPS made the trades in green with the 200 tp's.

http://www.only-the-truth.com/images/fapspics/52kin3days.jpg

Couple hours after I took this pic.

32528500 2009.01.09 16:38 sell 1.00 eurusd 1.34863 0.00000 1.34663 2009.01.09 18:29 1.34663 0.00 0.00 0.00 200.00
32551139 2009.01.09 18:39 sell 1.00 eurusd 1.34762 0.00000 1.34562 2009.01.09 18:41 1.34562 0.00 0.00 0.00 200.00

10 positive trades in 2 days roughly.