How do FAP close a losing trade?

[thescorpionking]

First of all, if FAP opens a trade, then I cannot manually close it.
Also, last night I was trading GBPUSD, initially the floating loss was -40, but it went up to like -300 over night, and i don't see any sign of it moving to my direction, why wouldn't FAP close the losing trade?

[Sooner]

It lets the trade run until the end of the month, more often than not the trade will turn around and hit your TP before that point, FAPS is all about patience sometimes the trade might go a long way against you which results in the high draw downs we all see but in the end it wins a lot more than it looses, you just need an account balance that can sustain the draw down.

[thescorpionking]

if that's the case, then how would you set your t/p setting, 20 or 100 or more

[BryanA]

FAPS has a pretty good average drawdown with any settings it seems. It gets a bit hairy at time if you are watching your trades daily. But, most of those drawdowns turn for profit. Yes, you are missing out on trades during the drawdown, but if you backtest your settings the profit line is going up more than down. Especially the last few months. I think if you are going to manually trade with FAPS, the TP is not the factor it is the SL. Setting them above and below support and resistance may be the way to go. Giving yourself some room for spiking. Obviously, that has to be forward tested. You can't backtest that theory. Otherwise, set a stop or not and let it run.

And I think hedging done correctly, depending on distance between support and resistance, could allow for pip gains during drawdowns.

Bryan

[Sooner]

Based on back testing setting your TP to a high number, generally anything over 40 from what I have seen, will result in less trades being opened and in some cases a wipeout as the losing trades close at the end of the month. Setting a stop loss even as high as 350 can blow out accounts at times depending on the testing time frame.

I have found the best results over the long haul with no stop loss. If hedging could be put in and made to work correctly that would eliminate the majority of the one problem which FAPS has and that is the massive draw down amounts. If the hedge trade and the losing trade were closed at the end of the month your losses at that point (which is where you see the big dips) would be kept to a reasonable level and your overall profit in a given time frame should be considerably greater.

Oh and you should be able to close the FAPS trade manually, you might have to try a couple of times if the price is jumping around on you, I think I had the same issue on a demo account once but I left it for a couple of minutes and tried again and it worked.