I trade on 50:1 margin. I trade position sizes which are equal to 10 x the margin in my account. Thus on $50.00 my position size is 500. The position size grows with the account. Risk is 2 to 3 percent on a hard stop, always out sooner. I trade for small moves using a fairly wide variety of indicators, which I will save for other discussions as indicators are only as good as the person using them. I talk about that a bit on my websites. purpose of my Forex Pip Addictis a fun and informative site for traders new or not. Mostly not to heavy. The Forex Currency Tradingis meant more for the new unexperienced trader. My basic philosophy is start small and build it. Your not trying to get rich you are trying to make your living from what you love. I don't sell anything other than advertising space on my sites. I trade exclusively the EUR/USD, nothing against other pairs but that's just my bag. I am letting others ride along. If they want to. Like brokers who are flexible o lot size and allow the little guy to get in. Please subscribe to my youtube comments welcome...thanks for asking
I trade on 50:1 margin. I trade position sizes which are equal to 10 x the margin in my account. Thus on $50.00 my position size is 500. The position size grows with the account. Risk is 2 to 3 percent on a hard stop, always out sooner. I trade for small moves using a fairly wide variety of indicators, which I will save for other discussions as indicators are only as good as the person using them. I talk about that a bit on my websites. purpose of my Forex Pip Addictis a fun and informative site for traders new or not. Mostly not to heavy. The Forex Currency Tradingis meant more for the new unexperienced trader. My basic philosophy is start small and build it. Your not trying to get rich you are trying to make your living from what you love. I don't sell anything other than advertising space on my sites. I trade exclusively the EUR/USD, nothing against other pairs but that's just my bag. I am letting others ride along. If they want to. Like brokers who are flexible o lot size and allow the little guy to get in. Please subscribe to my youtube comments welcome...thanks for asking
I have been using FapTurbo since Jan 08, 2009 on a Live Alpari UK 500gbp account.
As of Mar 19 the a/c = 542.80 or 8.56% income. Risk setting of 3% currently allows 0.01 lot per trade.
Only trades on eur/gbp and eur/chf. General FapTurbo forum consensus says these two are best and I agree having experienced hit stops many times using gbp/chf and usd/cad.
I do not get involved at all except to log overnight P/L balance and on Friday morning ensuring that FapTurbo is disabled so that no over weekend trades - gapping can be a killer, yes? Finally, on Sun or Mon I re-enable FapTurbo in time for first session at 21:00gmt Mon.
The pc is on 24/7 and it just trades between ~ 21:00-02:00gmt for 4 sessions per week.
I literally do absolutely nothing at all except stated above.
Guess is considered small fry but should it continue then above 30% income in 12 months. Considering what the thief banks are quoting in interest, I'd posit that any form of income maker turning over 30% per annum profit is a-ok.
I could of course add more to balance and 'let 'er rip' but imho, their lies foolsgold.
For sure, I'll have to get more bullish as time goes by and assuming it just keeps making consistent pennies then might as well up the stakes a bit.
I have seen posts elsewhere where statements of vast wealth are claimed using FapTurbo. Well, had I been more cavalier in my settings, I guess I'd be making such claims too - lol.
On the other hand, the 'set 'n forget' suits me just fine.
Funny thing is that that 40+quid is MY money now and I'd hate to risk it. I do not subscribe to the 'house money' paradigm. Is in my a/c therefore is mine... not the houses anymore and so must treat it with due care like the original 500gbp stake.
Just thought I'd share my experiences to date. In the end, the robot is someone else's code. I have no ultimate control over it. Should it have a wobbly for whatever reason, I should imagine that is quite possible that the a/c could be hit hard or even margined out...
So, there is always risk...
As of Mar 19 the a/c = 542.80 or 8.56% income. Risk setting of 3% currently allows 0.01 lot per trade.
Only trades on eur/gbp and eur/chf. General FapTurbo forum consensus says these two are best and I agree having experienced hit stops many times using gbp/chf and usd/cad.
I do not get involved at all except to log overnight P/L balance and on Friday morning ensuring that FapTurbo is disabled so that no over weekend trades - gapping can be a killer, yes? Finally, on Sun or Mon I re-enable FapTurbo in time for first session at 21:00gmt Mon.
The pc is on 24/7 and it just trades between ~ 21:00-02:00gmt for 4 sessions per week.
I literally do absolutely nothing at all except stated above.
Guess is considered small fry but should it continue then above 30% income in 12 months. Considering what the thief banks are quoting in interest, I'd posit that any form of income maker turning over 30% per annum profit is a-ok.
I could of course add more to balance and 'let 'er rip' but imho, their lies foolsgold.
For sure, I'll have to get more bullish as time goes by and assuming it just keeps making consistent pennies then might as well up the stakes a bit.
I have seen posts elsewhere where statements of vast wealth are claimed using FapTurbo. Well, had I been more cavalier in my settings, I guess I'd be making such claims too - lol.
On the other hand, the 'set 'n forget' suits me just fine.
Funny thing is that that 40+quid is MY money now and I'd hate to risk it. I do not subscribe to the 'house money' paradigm. Is in my a/c therefore is mine... not the houses anymore and so must treat it with due care like the original 500gbp stake.
Just thought I'd share my experiences to date. In the end, the robot is someone else's code. I have no ultimate control over it. Should it have a wobbly for whatever reason, I should imagine that is quite possible that the a/c could be hit hard or even margined out...
So, there is always risk...
Stu0898
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I'm not at my PC (I'm at a friend's house using their PC...) at the moment to check but isn't there an option in FAP Turbo do disable trading on a Friday?
I also have it running 24/7 and was loosing money until following the advice off this thread and it's started being profitable. You can see my demo account statement at Statement: 677488 - Stuart Anderson. The first nine trades are FAP Turbo trades; all the others are maestro.ex4 (aka Firebird) trades.
Note that no trades were opened on Friday even though the EA was switched on and active....
Trust I'm not doing a no-no... but here are relevant settings (less my key
I've got, using LRR many are effectively disabled as it does the money management calcs.____Scalper___________=--- Scalper EURGBP M15 ---
UseScalperStrategy=1
Scalper_Lots=0.10000000
Scalper_UseMM=1
Scalper_LotsRiskReductor=3.00000000
Scalper_MaxLots=0.10000000
Scalper_GMTOffset=1
Scalper_StealthMode=1
Scalper_UseCustomLevels=1
Scalper_RelaxHours=0
Scalper_SimpleHeightFilter=1
Scalper_TrendFilter=1
my comment: 0=false=doNotTradeon Friday, 1=true=tradeFriday
Scalper_TradeFriday=0
Scalper_OneTrade=0Scalper_TradeFriday=0
Scalper_UseFilterMA=0
Scalper_PeriodFilterMA=100
Scalper_PriceFilterMA=0
Scalper_MethodFilterMA=0
Scalper_MaxSpread=5
Scalper_SlipageInc=3
Scalper_ExpertComment=
Scalper_MagicNumber=245502
____FapTurbo__________=---------- FapTurbo EUR/USD M1 ----------
...
...
____Other_Parameters__=-----------------------------------------
TradeMicroLots=1
SendEmail=0
SoundAlert=0
SoundFileAtOpen=alert.wav
SoundFileAtClose=alert.wav
ColorBuy=16711680
ColorSell=255
WriteLog=1
WriteDebugLog=0
PrintLogOnChart=1
KEY=xxxxxxxxxxxxxxxxxx
Stu0898
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Trust I'm not doing a no-no... but here are relevant settings (less my key
____Scalper___________=--- Scalper EURGBP M15 ---
UseScalperStrategy=1
Scalper_Lots=0.10000000
Scalper_UseMM=1
Scalper_LotsRiskReductor=3.00000000
Scalper_MaxLots=0.10000000
Scalper_GMTOffset=1
Scalper_StealthMode=1
Scalper_UseCustomLevels=1
Scalper_RelaxHours=0
Scalper_SimpleHeightFilter=1
Scalper_TrendFilter=1
my comment: 0=false=doNotTradeon Friday, 1=true=tradeFridayScalper_OneTrade=0
Scalper_TradeFriday=0
Scalper_UseFilterMA=0
Scalper_PeriodFilterMA=100
Scalper_PriceFilterMA=0
Scalper_MethodFilterMA=0
Scalper_MaxSpread=5
Scalper_SlipageInc=3
Scalper_ExpertComment=
Scalper_MagicNumber=245502
____FapTurbo__________=---------- FapTurbo EUR/USD M1 ----------
...
...
____Other_Parameters__=-----------------------------------------
TradeMicroLots=1
SendEmail=0
SoundAlert=0
SoundFileAtOpen=alert.wav
SoundFileAtClose=alert.wav
ColorBuy=16711680
ColorSell=255
WriteLog=1
WriteDebugLog=0
PrintLogOnChart=1
KEY=xxxxxxxxxxxxxxxxxx
As I said I'm not at my PC at the moment to confirm but what I can say is that the Friday trading is controlled in the tradeFriday option and to disable trading is the oposite of what it tells you in the manual. Works for me, but you should test it on a demo account!
Incidentally, as far as understand it your key is something that is generated using your account number and another number generated on your copy MT4 by the EA and then entered into FAP Turbo's Key generation system so posting your key on here isn't a risk as it would be useless to anyone else. Try using the key on a demo account at another broker and should see that it doesn't work. They've done this to prevent people from being able to share the indicator as you have to be a registered user to get a key and that key can only be used on one trading account.
Douglas_Fx
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Douglas
It seems like many people are losing money with FAP Turbo. I did too at first, but I think I have “cracked the code” now, its all about selecting the right broker and having the right settings and trading the right pairs.
I found this blog, FAP Turbo Guide which has been very useful to me. They publish stats for several live- and demo accounts and seem to be doing quite good. And they share the best settings too. One of their live accounts is up 38% since Feb 20.
Has anyone else been able to check this out?
//Doug
It seems like many people are losing money with FAP Turbo. I did too at first, but I think I have “cracked the code” now, its all about selecting the right broker and having the right settings and trading the right pairs.
I found this blog, FAP Turbo Guide which has been very useful to me. They publish stats for several live- and demo accounts and seem to be doing quite good. And they share the best settings too. One of their live accounts is up 38% since Feb 20.
Has anyone else been able to check this out?
//Doug
I've been on live account since January and TradeFriday=0 works for me just fine.
Demo data feeds do not in any way shape or form emulate live data feeds. Many play with demo data using way too much risk, getting good results. Then they go onto live using same settings and wonder why they are broke.
Each to their own of course!
Fair comment and I have done all and more regards what you have said - but in the end, I see it as a security issue. I make it a strick policy to never publish any data which is keyed to me - regardless of it's practicable or otherwise use by others. That way no judgement has to be made - one rule covers all situations ie, no publish.
Yes, and is limited in scope imho. Have a looksee here - is full blown forum
Main FapTurbo Forum - The Forex Autopilot & FapTurbo Forum
Stu0898
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Sorry I thought I had read in your first post that you manually check that the EA is disabled every Friday.
And it's a good practice too and a precaution we should all take nowadays, just thought I should mention it.
If you managed to decompile the dll and then the EX4, you could remove the code that checks for an activation key and then potentially share a working copy of FAP Turbo with anyone you wanted! Obviously you'd be in breach of copyright laws so I'm not recommending anyone do it, niether am I admiting to having a dodgy copy!
Stu0898
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Thanks for the link Doug, the sceptic in me is telling me that you are a first time poster and claiming FAP Turbo works well!
Apologies if the sceptic in me has offended you!
No probs, you correct. It's just my Friday a.m. drill. This is software = is poss that decides to go walk-about! The idea that market opens monday with openTrade direction BIG GAP gives me the sweats!
Orders/stops/etc get serviced eventually of course - but I've been margined out by this new week opening gap issue
I use Qlock alarm and just setup required alarms to kick-me butt and wake up at appropriate times to do whatever...
Have been programming since 1968 and one thing that never fails to amaze me is the ability of Murphy's Law to intrude when least expected - especially with others software/designs (course I would say that
Stu0898
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Not to make you feel old but I wasn't even a twinkle in my father's eye in 1968!
As far as alarms go, I'm developing an EA at the moment which will pause automatic trading before and during major news releases and speeches.
Before I continue this I thought I'd check if you knew of anything that already did it?
No problem - I still got 23yrs further back to go for my dad to have similar twinkle
Most likely you conversant with the following, but what the heck, I'll say it anyway!
The MQL4 Community Forum MQL4: automated trading forum is a good bet to have nose around. Very extensive code base, forum and loads documentation including the MQL4 Programming Book MQL4 Tutorial. You have most likely been there but is about the closest you'll get to the actual bods that developed the platform in the first place. That is if they feel like replying to post. I use the word Community because it is not a support forum. Strictly public forum and sometimes MetaQuotes staff get involved... sometimes.
Regards your specific design goals - good luck! I just lay down and play dead at these times. Avoidance via static data tables and/or avoid Fridays altogether! So many ccy's and with a 24hr open house, can always find income if reqd.... Is all a game and as always you sometimes make income and sometimes suffer the inevitable biz expenses - just like any bizop does. That's how I look at it anyway.
I am a bit unsure about FapTurbo really, is a punt - nothing more. Would never ever let it play with serious money (if that is, I had some
Most likely you conversant with the following, but what the heck, I'll say it anyway!
The MQL4 Community Forum MQL4: automated trading forum is a good bet to have nose around. Very extensive code base, forum and loads documentation including the MQL4 Programming Book MQL4 Tutorial. You have most likely been there but is about the closest you'll get to the actual bods that developed the platform in the first place. That is if they feel like replying to post. I use the word Community because it is not a support forum. Strictly public forum and sometimes MetaQuotes staff get involved... sometimes.
Regards your specific design goals - good luck! I just lay down and play dead at these times. Avoidance via static data tables and/or avoid Fridays altogether! So many ccy's and with a 24hr open house, can always find income if reqd.... Is all a game and as always you sometimes make income and sometimes suffer the inevitable biz expenses - just like any bizop does. That's how I look at it anyway.
I am a bit unsure about FapTurbo really, is a punt - nothing more. Would never ever let it play with serious money (if that is, I had some
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teachers pet
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I asked for a refund after deciding it was not what I wanted. did'nt even download the thing but after 2 requests have had no reply or refund, So much for thier no questions asked refund policy.
£10kLoser
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Go to the ClickBank website and find the refund page - they'll give it to you no problems.
teachers pet
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got the refund, no probs now.
ForexStormer
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Clickbank refund
Got no response from FAP Turbo so just submitted refund claim directly to Clickbank, have heard nothing yet. How do you know they are processing it and how long does it take?
Got no response from FAP Turbo so just submitted refund claim directly to Clickbank, have heard nothing yet. How do you know they are processing it and how long does it take?
Takes about 3 days or so. Not sure why you want a refund on FAP Turbo though!
Fapturbo
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While some people prefer to miss the train others make good money with it.
Take a look on the MT4 Stats - Share your MetaTrader 4 Stats with the world - Live account was tripled in 3 months!
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Stu0898
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I thought these forums were meant to be impartial and not used to sell or promote things???
