There are a number of differences, between this and the older FAPS. Built in hedging, mutiple moving average signals along with the standard aaa and bbb inputs. While my forward testing has been limited to a single day, it would seem that the performance is about what you would expect from FAPS. It does not seem as long challenged as the previous FAPS, however it still has a tendency to give you some pretty large draw downs.

By default the stop loss is 500 pips and the TP is 140 pips, back testing shows that these settings do in fact work they just take some time so don't expect to see a huge amount of trades during the course of a week. I have also noticed that it won't allow you to put it on anything but the EURUSD M1 chart, if it sees another time frame or different pair it will stop at that point which both good and bad I suppose as you don't have the ability to test it against other pairs or time frames.

There are several filters that determine whether it will trade that day or not, I have yet to be able to make sense of them but they are as follows:

• Expected Cross
• Prudent Day
• Too Good to be True Days

The too good to be true has a start date and in back testing you can see these stop trading filters occur. Currently the too good to be true day for my chart is 8-4-2008. The signifigance of this date escapes me but I am sure someone will figure it out. At the end of these checks you will find the final resolution, printed right on your chart, saying whether it will trade today or not. I like this feature as it puts it there in plain sight so you aren't left wondering why nothing is happening.

It has two moving averages, one large and one small, set at 100 and 30 respectively. I believe it uses both of these to determine the expected direction and for reversal purposes which seems to work fairly well so far as long as you are allowing it to open more than one trade.

It has a hedging lot reducer so it does have some built in hedging capability although I have yet to play with it at all. By default the hedging is turned off. You have the option to allow it to trade NFP days and to trade Friday's. Turning these off would reduce you risk and swap cost I would assume.

You also have a setting which allows you to turn the close at months end feature to clear out losing trades off if you so desire. This along with a setting called OneTrade which I am assuming locks it down to one trade per day although I have not had a chance to back test this setting yet.