Hello everyone and respect to the pros out there. I'm a noob in FOREX and i was wondering if you guys could help me with the initial settings. I've opened an account with fxpro(500usd) with a leverage of 1:500 n i've bought the fapturbo. This could be too much, but could anyone post their complete settings...I'm just looking for a low risks(i just can't lose my 500bucks or my dad will kill me ) with acceptable profit. By the way, it would b great if you include explanation as my knowledge in Forex is inadequate......Any help or advice would be greatly appreciated...I thank you all for your time

And i've just spent another 150$ buying this fapturbo...My dad is so gonna kill me!...Anyone, please help..

Hey, don;t have a lot of time here...but I use FXPRO and these are the only settings you should need to change.

Lot size - 0.1 (default/$1000)
Use MM - false
Trade Micro Lots - false
Key - ##########
Max allowable spread - 7.0 for GBP/CHF pair only

That should get you going,

Jer

Thanks a lot Jer, i'll try your setting...but i notice yours is so contradictory to ^eagle^'s:



Chart=m1 (more trades than m5)
Common input=long and short(this input can change frequently depending upon market conditions)
Lots=0
LRR=2 (2% risk per trade maximum 10% BUT this often hedges)
TP=10 (gets me off the board quickly to minimize risk)
Max orders=5 (usually no more than three open at any time usually hedged)
Stoptime=30(allows 30 bars to pass before FAP considers opening another trade while one is open)
aaa=20
bbb=8 (sticking with Earl's settings. Seen better results in forward testing)
period MA=21(this is the key. catches those reversals quickly. Does not lag)
End work time hours =23
end work time minutes=30
start worktime hours=5
start worktime minutes=0 (Very little action during this time span. Most floaters are opened here.)
Rest default (thinking about playing with the span gator but I am happy with what I got now)

First of all, i don't quite get why he has no lot(Lots=0) and then his LRR equals to 2. I've searched the forum and some of them suggest that LRR=20 is good for small sale account....argh this is so confusing

Anyway thank you very much for your time Jer

If you only have 500 bucks in the account and 0.1 lots is the minimum I think you should avoid the long term FAPT completely and concentrate on the scalper. The long term eurusd pair has got a stop loss of 600 pips, i.e. one bad trade and you're finished and will get proper spanked by your dad
I've run the scalper on FXPro since november and my account is up to 680 from the 500 deposit. Not a huge amount but slowly but surely is my plan and so far it's working out nicely.

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