To all fapturbo Developers

Hi guys, now what most of us out here want to know is what settings do you recommend for fapturbo. You wrote it, we all put our faith in it and would just like some help if possible whilst investing our hard earnt money in your awesome product....please !

So is it......

1) The Default settings (with the exception of the GMT offset and activation code)
2) Or can you suggest tweaking it here and there for faster and better results
3) Do we trade all pairs or just some ?

Its a little bit frustrating because all you generally have out there in "cyber land" is a bunch of guys trying to sell recommended settings off the back of your product, which if your like me, dont find them that convincing or give you enough confidence to let them swip your "credit card" over the internet.

So could you finally solve the mystery and tell us what to do with FapTurbo....Leave alone or Tweak ?

Many Thanks


ab1

To be honest, I think the whole "tell me your settings" have pushed FAPT to what it is today. It doesn't work. Why? Cos you along with 1000s others will be trying out the same settings. So, my advice would be to leave them on default. Just be sure to impliment proper money management and you should be good.

Thanks for your input, not the answer you want to hear, you want to hear the magic settings that makes serious money.

However, I think your right, I had just picked EURCHF & EURUSD as they were the only successful trades I'd had on FAP Turbo, but I think in the right market conditions any of the pairs will give you success in FAP Turbo.

I'm not here on a "Witch Hunt" I want fapturbo to work !! I've got £5K in a live account for christ sake ! But Mega Droid seems to be kicking its butt !

Just to clear things up......... I dont care a dam which Robot does it, I just want success. But after 18 trades in 2 days fapturbo is £400 down, its only that Mega Droid has made two trades for a profit of £200 that is keeping my account and FapTurbo respectful.

Anyway all comments welcome, I'm only on a learning curve ! I have no axe to grind !

Cheers

ab1

Hi Abi,

Please be sure to implement any new trading strategies in a demo account. As always, the secret to success is proper money management. Don't risk more than 2% of your account at any one time. Your account will grow SLOWLY, but so will yours losses be less intimidating. You need to be the casino and NOT the gambler. The previous 119 SL on EURGBP on FAPT was a risky gamble. In my book, I risk 20 pips to make 50 pips and not vice versa. Hope that helps..

OK sounds like good advice,

So how do you become the Casino ? what settings do we want to implement for that ? Do we leave standard or tweak ? which was my original question to the developers ? or anyone that wanted to share there success.

I have a £5000 live account which took a big hit yesterday, but that was down to me, not the EA's fault. I got sucked into some manual trades, I won a few and then got greedy, got my fingers burnt and lost ! Wont be doing that again !!

So your analogy of being the Casino sounds excellent advice.......but how please ?

Cheers

ab1

i would not worry much about risk/reward ratio as long as the system has a high positive expectancy, i.e. it is highly profitable

everyone knows that it is possible to have a negative expectancy with low risk/reward ratio (i.e. 20/50) and a positive expectancy with high ratio (i.e. 120/6)

just check how eurgbp performed on fapturbo EA during 2008 with 6 TP and 120 SL. it doubled an account every month. but not anymore, probabilities changed

__________________
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Yea, a low risk/reward system is good as long as you're LUCKY. I've taken seminars from some of the best traders including Jason fielder, Dean Saunders and Tom Strigano and all of them emphasis a good risk/reward ratio. Lets say you use a system with a risk/reward ratio of 7:1 (FAPT's current 35/5 - SL/TP EURGBP setting). That would mean that a single loss would need about 7 winning trades in a row to break even, which I believe is a bummer. And in the long run unless you're lucky, your account will be eaten alive, again this is synonymous with FAPT. I implement a 1:2 system (5/10 - SL/TP) and so far, its been working for me.. Though this has to be tried manually and not with an EA.

Well, here's something I do.. If I had a $5000 live account, I wouldn't risk more than 2% ($100) in any one trade. I have TP on EURCHF set at 5 and SL on EURCHF set at 20 pips. So, you need to work out how much of the 20 pips will equate to 2% of your account. In this example, you would be trading a lot size of 0.5 ...

I have exactly the same settings on my FAPT and it makes me about 12-20 pips everyday. Which is very good in the long run considering 80% of my trading comes from manual labor.

hi Angel, i don't care much about "best traders" unless they can show high profits in their accounts for a few years (high profits i mean 300-500% or more annually.) then they should know not only about risk/reward, but about expectancy as well.

and expectancy was my point which you probably missed:

it is not the same as being lucky.

Trading 101: Expectancy

__________________
Forex MegaDroid has truly Outstanding Performance, year after year (95.8% Winners.) Try It Now!
Forex MegaDroid Stats on Alpari UK - up 75.4%
Don't Overpay Your Broker by 40-60%. Reduce Your Spreads with Monthly Cash Back at Many Major Brokers!

I agree with Miksa. A high SL might "feel" really bad when it hits but as FAPT proved in 2008 it was the most profitable level. When I ran the optimization for SL levels for Eurgbp interestingly enough 115 (I did it in steps of 5 from 25 and upwards) was most profitable, followed by 35. But 110 wasn't good at all and neither was 25 for example. Of course you can't trust old statistics on it's own but it gives you some idea of the ranges and frequences of the currency you're trading. The aim is to set the SL just outside a regular frequence or range so it doesn't hit unless it's really going to go against your trade.
Sounds very sensible and almost silly to have to bring up right? But yet there are loads of people here who just decide to take a number "they feel comfortable with" or something they've "calculated" after using the software a week...

So, do your optimizations and back testing. With MT4 it is so simple even I managed to do it (several threads to help if you're stuck)! Then test it on demo. Then do it again over different time frames. Then when you're happy you've found the best levels for you, start using it live.

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http://harre.mt4stats.com/ - FAPT euro pairs and usdcad on Broco Demo