Second FAP TURBO Mentoring Meeting – Questions and Answers

On the beginning of February second FAP TURBO mentoring meeting was held at http://fapturbomeeting.com. Almost 1000 users were connected to this e-seminar. There were a lot of questions. So I did my best to make it more easy for you to read. Here is the February Q&A set.

Version #44Pro has a default Slippage setting of 6 (compared to 2 for Version #36). How can this be successful if TakeProfit is also 6?

In the old version slippage was actually set to be spread + slippage setting, in version 44, it is set to slippage only.

MAXSPREAD setting on EUR/GBP. This is the most popular scalping pair. Lately FAP Turbo has been struggling to trade this pair with FXPro Live as miraculously the spread widens to 5.1 to 7?

You can increase your MaxSpread setting, but to increase it also increases risk, so you need to be careful. We would advise you instead to wait for spreads to reduce or to find an alternate broker. Try to keep MaxSpread value for EURGBP for 5-6 (Take profit is 6 for this pair).

I notice that the account that is running on FXPro is a small account but doing well. Can we have the settings? I see lot size is increased. What else?

We use Default settings. I placed onetrade=1 (true). The risk is a bit high for such small account. I recommend using safer trading plan.

I compare 36 and 44 version today and for now 36 looks better?

They are simply THE SAME the core is the same. No idea how you compared and what do you mean. We have to note that the GMT offset is set to 0 on version 44, but to 1 on version 36, so this may cause discrepancies- please check you have GMT offset correct. Just set 36 and 44 on demo account but this is just one day so says nothing actually

Is it worse to set spread to 6? The spread increases during the trade anyway……open at 5 closes at 7…

6 is okay but just be aware it is more risky than 5, and you certainly don’t really want to go any higher

If I close out one of the Fapturbo trades manually will jeopardize the system making future trades?

Yes, it could confuse FAPTurbo and the robot may think it still has an open trade so not place any further trades. Better not to mess up the system with manual trades. Let the robot work. No, if the trade is close fapturbo will not think “it is opened”. However as Uli said better not to perform any manual trading on that account.

Any news about relationships with brokers or ECN version of fapturbo?

We were working with ATC ECN broker however they are changing the mother company so they don’t accept new clients now. We are in the process of establishing relations with 4 other brokers now.

There seems to be a lot of tweak of the robot going on… what about the FapTurbo Default settings… will they make great pips?

YES!

Does 44 have the same defaults as 36 but includes more tweaks?

Just make sure you have GMT offset correct. GMToffset is different in v. 44. It is set at 0 instead of 1- make sure you have it correct for your broker. Otherwise it is identical, just more control over settings

My FT entered 2 trades in the EURUSD only one hour apart on Feb 3. Each trade was a buy only 16 pips apart. Both trades are still active (and losing). In the meantime I may be missing better opportune?

We have to complete the trades that we do have open before we can move on to looking for the next opportunity– please just allow FAPTurbo to do its thing.

Guys, what brokers do you use on live accounts?

We use FxPro, Fxcm, FXDD, IBFX, Forex com etc. We have many accounts. Also Alpari again.

How will LLR set to 10, impact on leverage at 200:1 compared to 100:1

It will have no impact, LRR is calculated based on 100:1 leverage regardless of what leverage your account actually has.

No trades for days now – spreads too wide. Need a GENUINE trading broker – not bucket shops. When can we expect to see an interface to Interactive Brokers? Which broker is good. I cannot find any brokers to open a live account. Which brokers should I use?

All of the brokers mentioned above by Mike do get trades, although sometimes MaxSpread may block some. Check out fapturbo forum “Brokers” section – you can find a lot of brokers’ discussions there. There is no such thing as “ideal broker” .

Can we use version 44 on other currency pairs outside of the ones currently utilized by version 36?

No, we did not find any other currencies that can trade this method.

Will fapturbo work with a broker who has an MT4 bridge to an ECN, like Varengold in Germany ? This means spreads are fluctuating all the time .

Fapturbo works fine even if spreads are not fixed.

What if I set slippage in 44 on 2 as it is in 36 version?

That will be fine on most occasions, but in fast moving markets you may not get your trade opened/closed.

Any problem with activation code switching from 36 to 44?

The activation key is SAME for both versions if you trade same account .

Do you guys, the developers, use the standard strategy(not scalper) on the eur/usd pair, and do you have some settings you recommend?

Yes, we use it with default settings. However we recommend using it only if you have large account because it can have long DD. For example 10K and above for 0.1 lot.

Is the FAPturbo crew going to use feedback from v44 users for future enhancements?

Yes we always read and follow your ideas and suggestions. Post that on forum please

What measure(s) of volatility can we use to decide whether or not to trade a particular pair on a particular day?

FAPTurbo is good at deciding whether or not to trade and measures volatility itself by simpleheightfilter measures volatility.

What is minimum account size to be effective FXCM require $5000 minimum to use MetaTrader 4 ?

FXCM plans to decrease min. deposit in future

How can you tell how many pips a trade wins? I see how many dollars, but what about pips?

You can be effective even with a very small account, around $100, as long as you can trade microlots (0.01 lots or 0.1 mini lots). Take profit for eurgbp is 6 pips. Look at the difference between the entry and exit prices, e.g.:

1.2450 entry and 1.2460 exit is 10 pips

If you have a 5th decimal place you must divide your answer by 10

e.g. 1.24500 and 1.24600 = 100- divide by 10 gives 10 pips

Is it better to open a completely separate account then for Fapturbo to run on, instead of just having it run on its own chart within my current account which I use for manual trades?

It would probably be better yes, although you can do both side by side.

What must I do when I switched the broker?

You need to email support@fapturbo.com and let them have your clickbank receipt details along with proof of closing your old account. Send the proof that you closed account with old broker and opened the new one. Then the support will verify that and reset your key.

As a beginning user of Fapturbo, besides changing the GMT offset, is it best to keep all the settings in default until I learn more about Forex trading?

Yes, as tempting as it is to change settings, default really is best!! I use defaults on my own account at the moment, I just alter risk if I want to risk more (or less). You should also set the proper risk level. Set LotRiskReductor to 2-3 if you are a newbie. Follow safe trading plan. So you will be on the safe side. One thing people need to be aware of also, is that if your account is very small, and the lot sizes calculated by FAPTurbo are too small for your broker to accept, it will default to your brokers minimum lot sizes.

I am going to open a live account with $500. I have been trading a demo account using LRR for eur/gbp of 30 and eur/chf 20. Are these settings ok for moderate risk?

That sounds like “high risk” to me.

Fapturbo stealth? Not only the tp and sl?

Stealth Mode protects you from cheating on the broker side. Using the stealth mode the take profit and stop loss values are not displayed to broker. Instead fapturbo places larger (fake) values. They are randomized around 120-150 pips.

Alpari says they are ok with scalping and expert advisors?

Yes, we use Alpari again too.

I’m with FXCM, and I compare my trades with Yours. Why are they not the same?

Trading results could differ in different brokers and even inside one broker. That is normal. Don’t forget about the offquotes, disconnections and the random spacer other things that make results bit different.

I’m totally new here, still waiting for my brokerage account to open live (Forex Meta), but wondering, does Fapturbo invest the full balance in each trade, or just a percentage?

You should risk 2-3% of your capital in one trade.

Please clarify the V44 “Slippage” setting. Is it “Max. Spread” PLUS “Slippage”?…. e.g. on EUR/GBP … (Max Spread=5) + (Slippage = 2) = 7 as the “Slippage setting?

Slippage setting is purely slippage, not MaxSpread + slippage– this only applied to v.36.

As a beginner with Fapturbo, starting with a relatively small amount of money, is it best to keep all of the default settings using scalping besides changing the GMT offset?

Yes, as we replied before use defaults and set low risk. Yes defaults are good – I would advise you to watch a demo account for a few days until you feel comfortable with it.

Can I have 36 and 44 running side by side?

You can trade both but set different magic number.

How dangerous (as in preventing FT from working) is it to modify a setting (e.g.”LRR” or (“Allow Live Trading” during a session? (But NOT during an open trade.)

You can modify a setting during an open trading session, just not during a trade. If you disable “Allow live trading” during session – that is the same as you remove EA from the chart

What parameters of a trade are “hidden” when using “stealth” mode?

Stoploss and TakeProfit.

What are you doing to avoid the collapse of every fapturbo owner making the same order on same time?

Trades are not placed at identical moments in time- they are spaced out by a randomizer to avoid overloading broker servers. We have a random spacer built inside fapturbo that spaces the clients and avoids the situation when too many people have same trade.

Could you please explain what slippage is? I read about people changing their settings for that on FXCM in the forum and it helped reduce offquotes? Could you explain that and if we need to adjust any?

That is slippage value, slippage is the difference between the price you ‘click’ on (or FAPTurbo clicks on) and the price you actually get the order filled at. Also fapturbo now retries to close trade even if it gets offquotes.

The suggestion that the FAPT crew start a brokerage has been posted to the forum…thoughts?

We are still in process of establishing relations with liquidity providers and metaquotes.

Apologies for the repeat Donna, but you’ve said V44 Slippage is purely Slippage. But V44 Slippage is at 6 … and V44 TakeProfit is also at 6. How can this work???

You can decrease the slippage setting if you wish, the parameter has been put there to allow more experienced FAPTurbo users to alter if they wish. Just because slippage is set to 6 does not mean you will get slipped 6 pips or if you do it can also go in your favour .

MaxSpread: if FAPTURBO enters a EUR/GBP trade at 5 point spread and then by the time it closes the broker spread has widened to 6 (assuming I alter MaxSpread to allow 6) will my profit be the 6 pips?

FAPT closes according to the pips profit.

Is to double an account a month with increasing the lots at eur/gbp ok?

To achieve doubling your account in one month you are going to have to use high risk. Please carefully consider your risk levels before using a high risk setting.

Is this “chat” going to be a regular thing? At least bi-weekly? This is a great help.

Monthly chat.

Why do you guys say 2-3 percent for risk, and Charles says 20 as a “conservative” setting? those numbers are very far apart from each other.

You must set risk according to what YOU can deal with– what is conservative to one person is not conservative to another. You need to ask yourself how much you would be prepared to lose on one bad trade. For newbie 2-3 % is the best. For me 20 is conservative as I sometimes use 40 and 60. You should choose the risk that fits your needs. With 2-3% you are safe and cant blow away the deposit in one trade. You will not lose your account trading LRR 3. With crazy risk you can double your account in a week or blow away in one trade. That is up to you to decide your risk level. But I STRONGLY recommend sticking with SAFE TRADING LEVEL!

I believe that you change your risk level by changing the LRR. Is this correct?

Yes (LRR = lotsriskreductor), but money management must be set to TRUE

IBFX are looking to add liquidity providers which should eventually reduce the spread problem there.

I heard of it too. sounds good.

What are the results if you change it to trade around the clock instead of just the European market?

The results are ugly. That is common mistake, it’s not recommended. Fapturbo is designed to trade low Asian session, if you run it on a crazy market during day time you will lose.

Give it a go on a demo account if you’d like to see.

However if you are a PRO you can add or deduct one hour before or after the traditional session and Experiment.

Is the price for FAP Turbo ever actually going to go up? It seems like the more people that buy it, the more brokers make it hard on traders.

The price will not change the situation as it will only increase the number of pirate-sales. Brokers are adding new liquidity providers and most of them are happy to see new fapturbo clients. Believe me – we spoke nearly to all top brokers and 90% of them are happy with fapturbo trading.

Also many people are trading on demo only and will never go live (no money, no time, forex is too risky for me etc) so there is no problem here. Also fapturbo has a built-in spacer that spaces the traders and randomizes the order time during few milliseconds to avoid large number of people making same trade same time.

Did u speak to ODL as well?

No we are not interested in relations to brokers that do not welcome winners.

Save me the trouble and tell me the start/end times for FXDD? Please.

Use default settings of Fapturbo 36. GTM offset = 2 for FXDD (forexmeta).

If it’s so important to trade only during the Asian market, then why not put those start/end times in the EA as the default settings?

They are already default values!

I want the price to go down when I buy more copies!

Price will remain the same for some time.

Are you finding pirate sales? I think all of us users should keep an eye out for hackers and shut them down.

Yes. Please help us protect Fapturbo from pirates – Report all pirate and fraud issues you found on forums, blogs, websites, and torrents. http://fapturbo.com/piracyreport.html.You will get a free license if you helped a lot.

How will be able to know if one is a pirate?

I have come across a few pirate copies online- and all of them have been badly working/ non functioning copies which will very likely harm your account balance, if not mess up your computer. Download your copy direct from the members download area.

If people sell fapturbo without legal affiliate link that means they are pirates. You can resell fapturbo only by official affiliate program. You get over 60% from each sale you do of fapturbo using your custom affiliate id. Estimated Conversion is as high as 30%. No we are not kidding Fapturbo is a trading robot that features LIVE results on REAL money directly implemented in the sales letter.

We have an affiliate contest now with good cash prizes. Please check out the http://www.fapturbo.com/affiliates.html page for banners and more info.

Affiliate sales: do we have to send affiliate customers to fapturbo.com sales letter or can we use certain elements e.g. live money account and videos then send to clickbank?

You can use video, peel away ad, banners, email ads, account-results etc with your clickbank affiliate link.

Can you guys post a leader board for top 3 affiliate members weekly so we have a target to aim for? bit like Premier League LOL

The contest results will be sent by email! over 30K for prizes.

What’s the price for a 2nd license?

$ 139. Use the link inside member area to get discount.

Karol, in Dallas, uses FXCM (servers in New York). So her GMT offset should be -5… correct?

I do believe FXCM is -5 yes. But it has nothing to do with her location, just difference between martketwatch time and GMT.

Does anyone have any suggestions for a better broker than FXDD ? Their pip spreads are very high at the moment and don’t seem to be coming down?

You can check out fxdd xtreme for example with lower spreads if you don’t want to change broker.

When to open USDCAD? It commonly gives bad results.

Better avoid USDCAD at all during current market conditions

What happens to GMT broker offset time when daylight savings time comes around? Do we change our settings?

You need to check market watch time and see if it has altered in comparison to GMT .

Guys, did you have any problems to open live accounts? I’m still waiting to open one, I gave them all my ID’s with address even but they still ask about proof of address .

They are probably after a bank statement or utility bill?

There was once a trading sentiment. Can you add it to FAPturbo? or does this new version get the news times and trade by it?

FAPTurbo has volatility filters (simpleheightfilter) to prevent trading when the market makes large moves. It has TREND FILTER too.

I read somewhere the long term strategy for FAP turbo hasn’t been giving good results and shouldn’t be used is that true ?

You need to have a larger account to run long-term strategy. It has a 500 pip stoploss, which is a $500 loss at 0.1 standard lots .

Charles from Fapwinner sometimes recommends one way trades to go with the trend…. do you agree with his approach? does it increase profitability? is this a long term thing or can you scalp one way.

Yes you can follow Charles’ notes on FAP-Winner.com forum .

Will you ever to look to change or add new currency pairs as the market changes?

Yes, we always continue our developments behind the scenes. As u know we keep fapturbo up to date.

By signing up for FAPT are we agreeing to receive sales calls for expensive forex training? could this be made an opt-in?

You are contacted by legal partners offering the mentoring and tax advice. Their service is optional and if you don’t need that just simply tell that.

So will FapTurbo be ready when the AMERO comes out to replace the USD?

Sure ? We still have EURGBP, the best pair right ! ?

Charles, what is Fapwinner.com club? Is it worth its money?

FAPWINNER is the first and largest online trading community We are more like a family. Unlike most system sellers that provide a product, we not only provide a great product, but also provide comprehensive support. We teach you not only how to use the EA, but we also teach you HOW to trades through weekly mentoring sessions, books, seminars and consultations. We also provide support through telephone, email and live chat support.

CHARLES, do you have special settings for FapTurbo robot? where can we find them?

Yes we do. The settings are broken down into 3 types: Conservative, moderate and aggressive, and are tied to short, medium and long term. The settings are found in the FAPWINNER website, in the forum.

Do you have mentoring in fapwinner.com and how can I join it? Do you have records?

Our mentoring sessions are very well attended. It literally is the highlight of the week. I look forward to the Q&A with them. One of the best parts of the meeting is reviewing the markets. We spend a fair amount of time explaining what the market did the previous week, and this leads into our market sentiment for the current week. I learn something new each week. Because we do a weekly sentiment. many people have asked to join the mentoring, but it is ONLY for FAPWINNER members.

CHARLES, When will be the next seminar and tell us more about the schedule.

Our next Seminar will be in March in Atlanta Ga. And we have as one of our special guests Rob Booker-he is the former chief economist for IBFX. It will be great!

Charles – what is Golden-Grid.com? Is that yours?

Golden Grid is a Comprehensive VPS service. (My recommended VPS service for Forex traders is ForexVPS) We have secure servers and trained technicians that are assigned to accounts that will make sure the EA is set and traded like it is supposed to be. And we have back up power system and have 100% up time during market hours.

CHARLES, why did golden-grid.com changed from managed account to “personal VPS service”. What does it mean?

The Golden Grid business model changed because we saw a greater need to provide more basic services. May traders have to deal with power outages, bad connections, and time issues. They just do not have the time to monitor, adjust and maintain their EAs. So we decided that we could provide a service to meet the basic needs. You can have the best it is, but if you have no power, internet connection or have not set it correctly, then you really have nothing.

Related posts:

1. FAP TURBO Mentoring Meeting – Questions and Answers
2. FAP TURBO Mentoring Meeting
3. Third FAPTURBO Mentoring Meeting Today
4. New FAP TURBO Forex Trading Robot Versions Available
5. FAP TURBO Settings to Close Trade After It Breaks Even
6. Best Settings for FAP TURBO to Run Twin Chart Strategy
7. 3 Best Settings to Match Your Risk with Fap Turbo
8. FXCBS – New Opportunities for FAP TURBO Users