FAP Turbo Expert Advisor Review


Drop Forex robots into the conversation and you can’t help but mention FAP Turbo. This is one of the earliest and most recognisable automated trading strategies on the market.

fap-turbo-expert-advisorThis system has evolved over time and while it sticks to its original ‘dual strategy’ approach to the markets, it has had a number of significant revisions since its first release.

It remains one of the most configurable commercial systems on the market with a huge range of adjustable trading parameters which can be used to help optimize the strategies. The question is, can it still deliver?

Where To Buy: http://www.fapturbo.com/
Price: $149.00
Currency Pairs EURUSD, USDCHF, GBPCHF, EURCHF, GBPUSD, USDCAD, EURGBP
Time frame 15 minute/ 1 minute
Type: Scalping and Positional
What You Receive: FAP Turbo ex4 and dll (installer), manual,support
Guarantee: 60 Day Money Back

The FAP Turbo EA

FAP Turbo can be regarded as perhaps the ‘granddaddy’ of commercially released automated Forex trading systems. It hit the markets with huge expectations in the early days of automated trading. Traders flocked to this new and exciting world of automated trading in their droves looking for easy profits as a result of this very EA.

While many did (and continue to) profit from the strategies of this robot, to really get the best from this system you needed to know the best FAP Turbo settings. To some degree this has also limited its appeal. Despite offering numerous settings allowing the strategies used to be fine tuned, very few have actually known how to get the best from this system.

If you are the type of trader who simply wants to spend five minutes installing an EA on your account and then sit back in the expectation of making instant profits, then this system is not for you. However if like us, you subscribe to the belief that you can make good profits with EAs, provided of course you are prepared to roll your sleeves up and do some testing and tweaking, then you might just have found the Rolls Royce of Expert Advisors.

How to Use

The FAP Turbo robot package as you may expect provides the standard Ex4 file and manual

The EA is designed to be run 24 hours a day on your account as it can open a trade at anytime within this window. As we always say it can pay to have a dedicated Forex VPS for your system, but in reality you will be fine with simply running this on your home machine provided you don’t mind leaving it on at all times.

Installation of the EX4 file is straightforward enough and covered in the documentation provided. This also contains a usual ‘questions and answers’ section should you have any problems with setting up your system.

FAP Turbo offers two main trading approaches out of the box:

Short Term Scalping Strategy – A high frequency scalping strategy which can be set to run across the following currency pairs; EURGBP, EURCHF, GBPCHF and USDCAD.  This strategy trades frequently and you can expect to see at least a couple of trades taken each even. Profit targets are small (in the 5-15 pip range).

Long Term Advanced Strategy – This strategy targets higher returns and is principally designed for running on the EURUSD pair. Trades taken with this strategy can be open for long periods of time. They tend to be infrequent, with often only one trade being open per week. This is due to the strict entry criteria that the strategy demands.

Both strategies in their basic guise are described in the accompanying literature and a full rundown of the settings you will be required to enter for each is provided.

The guide also contains a useful section on back testing your strategy settings. Now of course, back testing has its flaws, but it does provide a useful starting point for finding the basis of potentially profitable strategies.

This last point is interesting, because this is really what in our opinion, FAP Turbo is all about. The evolution of this leading Forex robot has seen countless new settings added in each revision. This means it is now an extremely configurable Forex system that you can pretty much shape into your own strategy.

Verdict

For traders who are new to automated trading the flexibility of this system might understandably prove off putting.

While you can get some good results from the default settings supplied, really this system is ideally better suited to those with some previous experience of expert advisors.

So if you are prepared to put in some testing time and play with the parameters then give this system a go. Its flexibility means that FAP Turbo can still be adjusted to keep pace with the latest Forex robots.

For this reason, we would suggest it deserves a place as part of your automated trading strategy.

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This article was written by FX System Trader