FAP TURBO Mentoring Meeting – Questions and Answers

Yesterday first FAP TURBO mentoring meeting was held at http://fapturbomeeting.com. Almost 500 users were connected and they all were asking questions. Creators of FAP TURBO really did their best to moderate all the questions and get them all answered.

Also, I did my best to provide you with these Q&A set.

Do we need to test the new version every month in demo to ensure logic still performs correctly before going live?

No. New version has same or improved logic + new filters and optimized settings + enhanced features. No need to test each version again.

Who is the best live broker?

There is no “best broker” here. All brokers have strong and weak points. We trade at several brokers: FXCM, FXPRO, ALPARI, FXDD, (ForexMETA) , Forex.com

FXCM doesn’t have demo for MT4, and minimum account size $5k. Are you sure they are ok to trade with Fapturbo ? No problems with them like “off quotes” and such ? Thank you.

Off quotes problem should be expected at any broker. That is part of Forex trading and should be taken into account. Fxcm works fine for me so far.

How is your research into ECN brokers coming along ?

We are working with ECN broker and establishing relation with them. ECN brokers have different requirements to the EA and we have to change a lot of code to meet their requirements.

What are off quotes and how could they become a problem ???

Off quotes is an error when broker failed to fill your order or price changed during the request to open/close order. That is normal and common problem.

Can we download fresh FAPTURBO a day or so before it expires?

Yes. Sure

What if FAPTurbo enters a trade and I have to reboot my PC. Will FAPTurbo still work with the logic and exit the trade at the appropriate exit according the programmed parameters?

If the connection is established again – yes it will catch up the trade.

I am still (4 weeks now!) waiting on VPS ForexHoster. Anyway – I have a question. I have downloaded Turbo and have an active account at FXDD – can I activate Turbo at home AND still get it activated at ForexHoster when they finally get online?

Yes you can do that Phil. Your license is valid for 1 account and you can trade it any place (home, office, VPS). You are not tied to one PC.

How long after we set up FabTurbo should we expect to see trades appear?

Fapturbo scalper trades 3-4 times a week, often during night time in EUROPE (around 21p.m GMT – 1 a.m.GMT). However some trades can stay for few hours. that is normal.

Can you schedule expiration day for a Fri. or Sat. so we don’t have to deal with updates during the trading week?

Ok, we’ll consider that. Thanks for advice.

Why there is so many difference with different brokers or LIVE accounts versus DEMO?

Trading results could differ in different brokers and even inside one broker. That is normal. Demo and Real account have different spread size and different order execution times so results could vary too. That is not a problem.

The number of trades depend on broker, spread, off quotes and a lot of factors. THAT IS NORMAL. That is live trading and you always get bit different results. No need to worry here

Does FAPTurbo only trade during EUROPE time. Is that means we can only on the computer during that time only.

If you use Short term scalper – yes.

Do you plan to have priority support for those who have more (3+) licenses?

Thanks, we’ll consider that. Good idea. I will pass to Anny.

We cannot use InterbankFX because of the big spread. right?

IBFX does not have fixed spreads. They increased spread temporary. I spoke to them. All brokers should decrease the spread after holiday season! The spread increase during holiday season is NORMAL. that is not because of fapturbo! Every year we have same increase around Christmas and New Year time. So just avoid trading for a week or two and relax with your family! We are here for a long run guys, and don’t forget missed trades are better than lost trades!

Explain about the licensing I thought we only paid once for FapTurbo?

Your Fapturbo Member License is valid only for Activation of 1 (one) Live real money account and unlimited number of Demo practice trading account!

The system doesn’t trade when the spread is too large…right?

Right. System is optimized to take only safe trades if possible. FapTurbo tries to avoid risky zones.

Guys – what about that – buy licence every year and no any limitations for tradings? – For You is a money every year, for us is less work with activation every month …. THANKS

We update fapturbo every month to keep it up to date to modern market conditions.

LRR & Money Management settings and its relation to number of trades taken by one currency pair.

No. It influence on the lot size.

You guys talk about one specific trading account , a 370.00 account that grew to over 7,300.00 in one month . All I want to know, is the exact way to trade like that. I would like the same parameters, settings, currency pairs. This should be duplicatable. Who can I talk to to get those exact same results .

We used default settings + some tweaking when it started with old versions of fapturbo. It got few minor losses in October then we added more safe filters and the results became amazing! I still cant believe it is possible. However fapturbo is online for nearly 1 month now and you all saw the live updated trading on site.

Mentoring class is Great! How often will they be after the first of year?

Thank you. We will have monthly mentoring for our members.

Can you explain why a demo account can outperform a live account with the same broker?

That is normal because Demo account is a fake simulation. It does not take into account any real factors like disconnection, off quotes, human factor (your kids closed your PC) etc.. That’s why demo results are always better. And that’s why we show live trading, not demo on site.

Can I open multiple charts with FT IBFX…which is where my G Grid is?

LRR is the % of Equity that FAPTURBO will use.

30=30%

Yes! LLR = Lot Risk Reducer. Depends on leverage. It will define the lot size for fapturbo (and your risk).

What about USD/CAD pair?

The USD/CAD is not one of the primary pairs that is traded. It is included but the real money is in the plan that has been presented.

Do you keep the scalper lots at 0.1? or change to 0?

If you trade MM = 0 then lot size is ignored and calculated by autolot (LLR).

I understand FXPro does not accept fractional lots (e.g. .1, .2 etc) and the MM setting can’t be used. Can you clarify this?

Please use fixed lot size in FXPRO. Do not use MM. just set 0.1 or 1.2, don’t place 0.13 or 1.28.

Mike please clarify instruction about MM vs LRR…if we set MM=0 THEN we set LLR to 20 for conservative…right?

No, if MM=0 it is turned off. MM = 1 or True if you use LLR.

Which means if MM is 0 then LLR is ignored?

Yes. In this case fixed lot is used.

What does FT scalping do if price run away in falls direction,without coming back? Will it stop out at about 100 pips?

It has fixed stop loss = 110 for EURGBP and also fake Stealth mode stop loss 20% larger to protect the trade if you got disconnected.

If a trade is really running negative, should you close it manually or let it run it’s course?

Let the EA do its thing. If the floating loss is ’scary’ or makes you overly worried then you are risking too much.

Don’t mess up the system!! Robot has A PLAN and it follows the PLAN. If it must take the loss it will take it. It is normal! Most of the losses were caused by human intervention.

Just place SAFE settings and LET THE ROBOT DO ITS MAGIC!

What is “stable” income? 25% Month? 50%? More?

Professional traders like SOROS are happy with 40% annually. In bank you will get only 3-5%.

I have leverage of 200 – are these settings ok for that??

Yes. However 1:100 is better for safe trading.

Would like to know the FT recommended brokers’ are actually trading AGAINST their clients, as has been suggested on the FT Forums.

We only heard of ODL banning the clients for making profit with fapturbo. Other brokers are doing good and welcome us.

Any plans for the Fapturbo to start up a brokerage?

Maybe. Too early to discuss now.

RiskReducer setting V16 vs. V23: took the same settings from 16 into 23 and now trading very small lots. Checked the manual: nothing changed. Is there a change in settings and if yes, where do i find them?

In version 23 the MM feature was fixed and now depend on leverage properly.

Why does 16 take more trades than 23?

Because it is outdated and more risky. Please always use NEW VERSIONS. They are better and much safer. We work here for you to make it better.

Could the fixed stop losses in the scalper be reduced ???

No. Otherwise system will hit them and create a series of wrong losses. Settings are OPTIMIZED already for best performance.

For FXPRO users how do we safe trade? We cannot keep MM On..

In FXPRO use fixed lot size. I would suggest around 0.01 lots per $100, so ideally to trade 0.1 lots you need $1000.

Could you please make the stop loss size configurable?

No otherwise people will mess up and get losses and then blame me. Settings are best optimized for you!

It is announced that next meeting will be arranged in January 2009.

If you still thinking, view the LIVE accounts on FAP TURBO site.

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