Just joined!

Hanif · #1 07-21-2010, 10:08 AM

Hello everyone

From London and just joined the forum. I have been using fapturbo for a month now and have interesting results to discuss.

Hanif

^eagle^ · #2 07-22-2010, 03:37 PM

Welcome to the forum hanif. Glad you joined. Its a little quiet here but take a look around. I hoppe you can find any info you need. we keep moderation to a minimum around here so we can see all points of view. Do not hesitate to ask questions.

Hanif · #3 07-27-2010, 11:13 AM

Hi eagle

Thanks for your welcome. I have been trading using fapturbo for the last month or so. I've had a number of large losses but overall still profitable. I set up 5 currencies to trade according to Steve Casey's famous guide which are USDCAD, GBPUSD, EURGBP, EURCHF and USDCHF. In order to mitigate these losses, I stopped trading USDCAD and GBPUSD because they were overall unprofitable last week. However, last night EURCHF gave me a large loss. I realise the currency markets at the moment are a little turbulent, but is there alternative strategy/settings to trade fapturbo so at least these large losses are done with?

Many thanks in advance for any help.

Hanif

^eagle^ · #4 07-27-2010, 05:58 PM

I have also stopped using turbo for now due to the losses you mentioned. I also was hit by the eur/chf loss last night. Went to bed thinking it was heading back down only to wake up to a stop loss in the morning. It does happen and if you are persistant fapturbo can be profitiable in the long run. Its just very psychologically damaging to take those large hits to your account.

Its back to the drawing board with FAPturboscalper as I did filter out the other trades youmentioned. the eur/chf trade threw mke for a bit and it shows on the live statement on the website.

Hanif · #5 07-28-2010, 04:59 AM

Hi eagle

I should have said Rob Casey, not Steve Casey! Good to learn from an expert like you and the same challenges you are having with the fapturbo scalper. Are you using any replacement scalper? It appears that the problem with fapturbo is the misplaced positions. For instance, last night, the EURUSD was clearly heading south but FapT placed a short on USDCHF. Now in my limited trading experience, I have come to learn that there is a very strong correlation between EURUSD and USDCHF - they always tend to go in the opposite direction. Not sure how FapT could be taught this?

Hanif

^eagle^ · #6 07-28-2010, 02:00 PM

The swiss was weakened for some reason. I didn't investigate it but variation in the correlation are due to weakness in the CHF. It is a separte urrency form the euro so it can at times have a mind of its own. That is why it is only a 97% correlation. the 3% is the kicker.