Review of beta test results for auto trading robot (or expert advisor) Fapturbo Evolution

The Fap Turbo team invited four well known forex traders in the forex forum and forex trading community to test out the improved version of the automated forex trading system.

All of them used LIVE money to open an account with Swissbroker Dukascopy (FapTurbo Evolution can only be used on Dukascopy platform at the moment).

The Four Independent Traders invited by the Fapturbo Evolution creators are :

1.Chuck from a well-know forex trading forum, forexpeacearmy with over 20 years of forex experience

2.Donna, a female forex trader and well respected fapturbo community member

3. Avi, head developer of forex courses on the website, forex-trading-machine.com

4. Zeno, an independent Forex systems tester from 4xproject.com

Each of them are given a REAL money account to trade to test out the profitability of Fap Turbo Evolution.

And here are the results :

Trading results for ZENO (4xproject.com)

Deposited USD 10,000 on 10.06.2009

Balance as at 10.07.2009 USD 11,784  (+11.7%)

Report: http://fapturboevolution.com/zeno/zeno.htm

Trading results for AVI (forex-trading-machine.com)

Deposited USD 30,000 on 12.06.09

Balance as at 10.07.2009 USD 37,127  (+23%)

Report: http://fapturboevolution.com/avi/avi.htm

Trading results for DONNA (Donnaforex.com)

Deposited USD 10,000 on 4.06.2009
Balance as at 10.07.2009 USD 13,441.87 (+34%)

Statement Report : http://fapturboevolution.com/donna/donna.htm

Trading results for CHUCK (Forexpeacearmy.com)

Deposited USD 15,000 on 05.06.09
Balance as at 10.07.2009 USD 19,735.85 (+29%)

Statement Report : http://fapturboevolution.com/fpa/fpa2.htm

FAPTURBO EVOLUTION DEVELOPERS ACCOUNT

Deposited USD 90,000 on 15.06.2009  (several smaller deposits have been made up to 90k)
Balance as aat 10.07.2009 :  USD 117,369   (+30%)

Statement Report : http://fapturboevolution.com/steve/steve.htm

Conclusion on the results :

The results look pretty impressive because all accounts are profitable.

It is worth mentioning that fap turbo evolution actually works across multiple pairs of currencies so it is able to scalp few trades a day and still bring in net profit most of the time.

Some traders may agree that scalping is a mentally taxing game if you do it manually since you have to sit there day in day out and look for small profits.  In the long run, it may wear you down mentally.  With fap turbo evolution, even a newbie is able to scalp with help of the robot….that leaves us free time to do the things that we enjoy.

rooney

Reviewing the latest forex auto trading robot - Fap Turbo Evolution

I have started to take a keen interest in auto trading robot (or expert advisors or EA as they are so-called) for the forex market over the past few months.  So when I goggled for review sites for EA, one of the most frequently mentioned EA or auto trading robots is called fap turbo evolution (which is supposed to be the improved version of fap turbo).

Some of the reviews related to the original fap turbo were that the robot was very effective initially but overtime, its performance has started to slip.  Part of the reasons for the deteriorating performance for the original fap turbo is that because the robot was so good at scalping for profits, some forex brokers resorted to unfair tactics such as tampering with the robot’s functionality, widening the currency spreads or increasing slippage in order to reduce the robot’s efficiency.  Some forex brokers do that because they trade against clients, which means that if you make money they lose money!!  As such, some forex brokers even ban clients who use good auto trading robots on their platforms.

Because of the deteriorating performance of fap turbo lately, another new trading robot called Forex Megadroid has jumped to prominence…….I just bought a copy of Forex Megadroid few days ago and started to test it in live account.  So far 2 winnings and 1 losing trade…….will talk about Forex Megadroid some other time.

Now, back to fap turbo evolution……

Over the past few months, the fap turbo team has been working hard to launch a new version that may help retail forex traders to stand a better chance in trading against unscrupulous forex traders (or bucket shops as they are called).

The end result is Fap Turbo Evolution………

Unlike the original FAP Turbo, the new and improved Fap Turbo Evolution is NOT meant for the Metatrader 4 (MT4) trading platform that many forex brokers are using but instead has been written specifically for a new platform at Dukascopy (Swiss broker) that has lower spreads, thus making it much more profitable for the trader as the broker takes less “commission” than competitive brokers offering larger spreads.

For those who may have this question in their mind “ Is Fap Turbo Evolution A Scam ?”

The answer is not likely, since it has been tested extensively with proven live results.  So far, Fap Turbo Evolution has been tested by several independent forex traders and all of them have reported impressive results starting with USD10,000 live accounts.  More on their trading results later on.

Like the original edition, FAP Turbo Evolution is a scalping EA or trading robot. It is designed to take small profits from the market on a consistent and daily basis.  This FAP Turbo Evolution is designed to spot specific times during the Asian session (early morning hours between 5am and 8am Hong Kong time) where volatility is low and very good risk/reward opportunities occur.  Fap Turbo Evolution mainly trades 3 major currency pairs: USD/CAD, EUR/GBP and EUR/CHF with consistent and profitable performances.

One possible downside to using Fap Turbo Evolution at the moment is that it is for serious traders only because :

a.you need a minimum USD10,000 to open an account with Dukascopy

b.you must be earning USD100,000 per annum

c.you must have a networth of USD10,000

The buzz regarding this new wealth generator has been impressive and it’s estimated that more than 100,000 traders will visit the new Fap Turbo Evolution website once it goes live. Unfortunately, they have decided to release just 2,000 copies and then they may not sell anymore. 

In fact, if you visit the website now www.fapturboevolution.com , it says “Sorry guys, we have sold almost all 2000 licenses and the doors are now closed because we need to see how the brokerage can deal with the signups and the workload to get each and every user setup.”

Do not fret if you cannot get your hands on Fap Turbo Evolution (costing about USD599), you can still opt for the original cheper version Fap Turbo (costing about USD100) which is still able to rake in profits, but make sure you do some research and get the right forex brokers to put your EA to work…..because forex brokers can make a difference to your end results, especially for scalping strategies which are dependent on stable and tight spreads.

Happy trading!

rooney

What is Expert Advisor or EA in forex trading?

Financial Times reported that a former trading software expert at Goldman Sachs, Sergey Aleynikov has been arrested on suspicion of unauthorized downloading of sophisticated trading software codes after he left Goldman to join another company.

Mr Aleynikov maintains his innocence and is free on $750,000 bail. An FBI affidivat claimed Mr Aleynikov’s pay of $400,000 is expected to triple after he joined the new company…… wow that is a lot of money man and highlights the importance of the role of trading software that has existed in and used by some companies.

Until recently not many people are aware that sophisticated trading software are being used by big companies to trade the markets, removing human element and more importantly, removing human emotions, and in the process making hundreds of millions of dollars for the company.

I believe in the next 10 years, more people, including retailers will have the opportunity to allocate some of the funds in high risk high return investment options such as auto trading, as one of the means to diversify their portfolio investment.

One of the areas which caught my attention lately is auto trading in the forex market. So what is auto trading or EA ?

Auto trading or expert advisor (EA) is basically transforming manual trading strategies into computer codes and let the computer trade on behalf of the humans. The biggest attraction is that it removes completely human monitoring and human emotions…….so one can be less stressful and have more free time, that is assuming the EA can make money consistently.

EA has been made available to small traders or investors due to the success of the MT4 platform. I have been doing some research into this area and here are some of the things you should look out for before deciding if you want to BUY an EA from someone :

1. ask them if they are willing to show live demo account
very often, we will see someone bragging his EA can generate >90% success rate over the past 2 years based on historical data. But once you use the EA in real world, the outcome may not be what they say because :
a. they can test the EA on various settings and only show you the best performing model and not telling you about the worst performance
b. they can show you a fake historical statement
so i would suggest you requesting a LIVE demo account and monitor the EA for at least 1 to 2 months LIVE.
c. some EA may do well for 1 to 2 months but not consistent so better monitor longer
d. some EA performs well only when the spread (commission) for the forex pairs being traded are tight eg 1 to 2 pips but once we use it on forex pairs where the spread is high eg 4 pips it cannot perform well.

2. some EA providers will ask you to deposit your money into their account - this is extremely high risk as they can just run away (this has happened many times before)
to reduce such risk, only deal with EA provider where the money is parked under your own name and the EA is then put into your own account to trade

thats all i have to share for now

cheers
rooney

p/s : checkout the performance of a live demo account here : http://www.mojostock.com/metatrader4stats-smartea.php

disclaimer : forex trading is highly risky, you may lose all your capital. all information mentioned here are solely for education purposes only.