FAP TURBO Real Money Accounts’ analysis

Tuesday, December 9, 2008, 15:06
Forex Trading
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While looking for best (at least good) broker for FAP TURBO autopilot robot usage on Forex online trading, I assumed that it would be great to find out on which currency pair you could make more profit.

For this reason I did analysis on real money accounts’ results from FAP TURBO site. They introduce with 3 real money accounts:

$370
$2500
$10000

I cut these results to an Excel sheet and separated profit by currency pairs.

Remember, that you can take long term strategy only on EURUSD currency pair and Scalping strategy is used on USDCAD, EURCHF, GBPCHF, EURGBP currency pairs.

It would be very good to know currency pairs trading spread authors have had. It let you to get clearer vision if you should trade EURGBP and GBPCHF pairs which usually have spread within 5 to 7 pips.

So, here are the results I got from these accounts (till 2008.12.09).

First real account which started from $370 on 2008.10.07 have earned $6969.55.

By pairs it looks like this:

EURCHF – $1032.54 (74 trades)
EURGBP – $6093.59 (103 trades)
EURUSD – -$159 (7 trades)
GBPCHF – $175.81 (35 trades)
USDCAD – -$73.44 (17 trades)

The biggest player is EURGBP currency pair with the most trades. But the half of profit on this pair was gained from last 4 trades in the beggining of December trading from 5 to 10 lots per trade. It is very risky, cause you are risking biggest part of your account.

EURCHF and GBPCHF are quite good too. Pairs EURUSD and USDCAD are very concerning, as they generated quite big loss. So, it needs more testing. I would recommend to let it trade with 0.01 lot, to have more results.

Second real account which started from $2500 on 2008.10.10 have earned $6479.26.

By pairs it looks like this:

EURCHF – $187.45 (25 trades)
EURGBP – $6832.64 (89 trades)
EURUSD – -$278.2 (13 trades)
GBPCHF – -$50.81 (48 trades)
USDCAD – $0 (0 trades)

Again, the leader is EURGBP currency pair. This time there were no trades with more that 4 lots. USDCAD pair has no trades. And the only one long term strategy on EURUSD gives us only loss.. It is strange to me that this strategy uses TakeProfit (T/P) ratio 1 to 4 StopLoss (S/L). I think it should be in other way.

Check these variables in your FAP TURBO configuration:

FapTurbo_TakeProfit (Take profit in pips) – by default it is set to 100.
FapTurbo_StopLoss (Stop Loss in pips, if Zero then it is not used) – by default it is set to 500.

I will reverse these values, cause it’s not logic to stop yourself when you are gaining profit and allow yourself to make loss. It is recommended tu use T/P 3 to 1 S/L.

Remember! Use this setting on your own risk.

Third real account which started from $10000 on 2008.8.18 have earned $21305.74.

By pairs it looks like this:

EURCHF – $1613 (63 trades)
EURGBP – $28051.44 (125trades)
EURUSD – -$3657 (134 trades)
GBPCHF – -$1785.83 (21trades)
USDCAD – -$1755.86 (11 trades)
USDCHF - -$4.35 (16 trades)

First I want to mention, that there is new USDCHF currency pair, which is not in the list of recommended pairs for trading. Also, it was traded without TakeProfit and StopLoss points. And it generated quite good results. Only 2 trades did loss, but in sum ( -$2449,76) it ate all the profit it made before..

As before, EURGBP was the leader again. There were many trades within EURGBP pair with lots from 3 to 10. Therefore, it generated such a big profit.

EURCHF was the second in the lead, but most of the time it was traded without Takeprofit and StopLoss points (from the 10 of September till the 23 of October). I guess, they were testing this pair…

EURUSD pair had the same faulty configuration which led to loss. Also, there is default configuration which closes all your open trades when new month comes.

FapTurbo_CloseAfterXmonths – Defines the “every month” closure strategy. If you set CloseAfterXmonths = 1 it will close all positions on the first trading day (on first trading tick) of each month to refresh and start new month. If you set to 2 then it will close every 2 months etc. If you set it to Zero then it is not used.

Check this variable in your configuration and change it. Thanks to this, EURUSD pair made additional $1693 loss closing 7 open trades on the 1 of September…

GBPCHF and USDCAD again generated loss.

Conclusion

Analysing all those results I was led to conclusion, that the best pair is EURGBP, EURCHF. Therefore you should look for broker which grants you good spread on these pairs.

FAP TURBO creators warn that the spread should not be higher than 5 pips. Therefore, USDCAD and GBPCHF can be very risky unless you get lower spread (I found that USDCAD has 5 pips and GBPCHF from 5 to 7).

EURUSD pair loss-making because of wrongly defined TakeProfit and StopLoss points. By default ratio is set 1:4, you should set it vice versa and it is recommended to use 3:1 ratio.

I going to implement changes I wrote above and will give the report how it worked for me. So, stay connected. You can subscribe to my full RSS feed or subscribe by Email.