So, there is another problem that Fap Turbo people are experiencing, and these kind of problems I am not experiencing them since I am using a demo forex account. People are reporting that the spreads are high over 5 pips most of the time and thus Fap Turbo cannot trade. I am referring to Live Forex Account, that is people are trusting Fap Turbo with their real hard earned cash.
Just a small small note, the higher the spread the harder and more risky it is to make money. Lets give an example.
1) Lets say we decide to trade EURGBP at 0.1 lots, which is the equivalent of £1 a pip.
2) The current quotes are for example They are 0.9020 and 0.9022.
3) The spread in this case is of 2 pips.
4) If we place a BUY trade, the order is filled at the higher quote. (if we were placing a sell trade it would have been filled at the lower quote). So now we have a BUY trade for 0.1 lots entered at 0.9022
5) If you close the trade now where the qoutes are still the same, we place a SELL trade of 0.9020.
6) Net result is of -£2 – loss
So the wider the spread the more the qoutes needs to move in our favour so as we can close the trade in profit.
Fap Turbo has a default setting of 5 pips. So if the spreads is more than 5 pips, Fap Turbo will not trade. You can change this setting, however the wider the spread the riskier it gets.
Now what people are reporting?
People with live accounts are reporting that the spreads are over 5 pips so Fap Turbo cannot trade. Some hereos increased the spread to 7 or even 10 so as Fap Turbo can trade. What can happen is that if the qoutes move against you, you have had it.
As you can see from my daily profit / loss account, Fap Turbo sometimes manage to make some scalping trades, sometimes it does not manage to make any trades. This is my demo account and people are saying that the brokers have different spreads for Live and Demo accounts. If someone can confim this will be greatly appreciated.
So whats the problem?
The problem is very simple, the higher the spreads, Fap Turbo cannot trade, the robot that costs $149 is idle doing nothing. If it manages to do some trades a week, the trades may go against you. Even more you need also take into consideration the costs of the VPS monthly fee which is on average $50 a month. Do you think it makes sense live with this risk daily?
Some people are also claiming that the spreads have widened because of Fap Turbo and the brokers, others are saying that the spreads are due to the current economic disaster and money liquidity in the market. I think that the spreads have widened due to the current economic climate.
The point is, even though Fap Turbo can work in a demo account, in live account, Fap Turbo is most of the time IDLE eating your money instead.
Author: Fap Turbo Scam
February 25th, 2009 at 9:40 pm
I Trade FXDD and their is definitely a big difference between demo and live spreads. I also use FapTurbo and have had to change my Spread setting to reflect high broker spread during asian trading (Asian time-frame is when Fap trade).
An example of spread with my broker on the most profitable pair for FAP (EURGBP) has been 9 pips at 21.30 GMT (London) and its been like this for last the last month!!
Having said all this FapTurbo is still making good progress (5% per week on average) which is good. However my risk settings are now higher than the default in FapTurbo LRR = 30 etc.
The trick I think is to find a good broker in the US (i.e NFA approved) and phone them and asked for a live spread quote. I did this with FXCM and they said 6 PIP while FXDD was at 12 !!
I think I’ll be moving soon enough as I believe my current broker is purposly setting high spreads to stop the profits of the EA’s (most EA’s will trade Asian market time when the ranges are less volatile).
Hope this is informative
. I’m still learning myself but I think we all go through the same things along the way!
Good luck
Dru
February 25th, 2009 at 10:19 pm
Hi Dru, Thanks for your feedback.
I am also thinking to go live but selecting the correct broker is the most important thing. The right broker does not exists though!
February 26th, 2009 at 11:19 am
Is fabturbo a scam? Well I have bought it recently and in the beginning it did give some good results and I was very pleased with it but then it gave some really bad results and if it was not a demo account it would have lost about 10% of the account, that is really unacceptable. The bad results came from the so called eurusd account, that in my opinion does not work. After this fiasco I did some detailed testing on the eurousd account and found that it really trades strange for a “long term” account, firstly one would expect that for a long term account the timeframe should be longer than one minute. Using a one minute timeframe, there is only 100 minutes to go by that is how Metatrader works. For a long term trading one would expect that the program should go by a much longer trend like 30 minutes or one hour. I have been trying to make automatically based traders for a few years now. And one of the problems with auto traders (or any trading for that matter) is establishing the right trend. I concluded for a while now that for establishing the best trend direction it is necessary to use more than one timeframe. Like 1 minutes, 10 minutes and 30 minutes if all give one direction in trend it is safer to trade than when not. Trend is your friend as everybody should know in this business. This is not fool proof however because there can be a so called reversal or other changes in trend that still slip through the system. This was my conclusion after many years of testing. However I never could make the system profitable so I was also drawn to Fabturbo to see really what their secret is.
The long term Eurusd is for sure not working, as other have established in this forum. And is in my opinion not long term at all, because it gives buy or sell indicators in both directions within one hour or less, that is not long term in my opinion in fact that is scalping, riding the trend waves like that.
The so called scalping strategies do seem to work so far, I had only one big loss so far in that and I must admit the program has some features that I do agree with. To open a trade with an auto trader is one thing however to close it is another matter, in manual trading also it is hard to decide when to “exit” a trade. The trick I feel Fabturbo uses is to get out quick, in fact, the program gets in slow and get out quick. That is not a bad strategy and it seems to work so far.
To answer the question if I think that Fabturbo is a scam, well if feel that their marketing strategy is not 100% honest, but then again, who is 100% honest about a product that they sell? To have 95% of the trades make good, could be true but the 5% are big losers like I had with the Eurusd account one must ask if it is a miss presentation. Most sales people give only the good aspects of a product not the bad once. For myself I think only time can tell, but right now I would not bet my money on it that it works as they advertise. Forex is and always will be a risky business it is something one has to live with, to me it is a calculated gamble.
April 5th, 2009 at 7:51 am
The market is quite calm now… quite boring…
May 6th, 2009 at 3:01 pm
Hi, you’ve done a good test. I wanted to give a try to Fabturbo, but I still have doubt so don’t want to pay anything upfront before trying in Demo. So if I can try free, maybe you could send me copy of the software for trial ? If it’s for real, of course I’ll pay as per valued. Thanks a lot.
May 16th, 2009 at 1:48 pm
Hi, saorry for the late reply but I was during a long honeymoon. If you purchase Fap Turbo, you have 60 days money back guarantee from Clickbank. Trust them, they do refund the money since I did refunds couple of times. I can’t give you my licence since it is tied up with my Alpari account. Sorry for the late reply. Apologies.
June 16th, 2009 at 2:55 am
Thanks for writing, I truly liked reading your newest post. I hope to read more post soon. regards
July 2nd, 2009 at 4:37 am
I found your blog on google and read a few of your other posts. I just added you to my Google News Reader. Keep up the good work. Look forward to reading more from you in the future.
July 5th, 2009 at 11:53 pm
Welcome Marks,
Thanks for your comment. Although right now I am not posting often, Fap Turbo is still going. I am quite busy right now to post a new post unfortunately.
October 4th, 2009 at 3:08 pm
THX for the post, greta info
October 19th, 2009 at 11:50 am
Nice info, good post. I think the forex market is a bit dull at the minute, not really any big moves.
October 28th, 2009 at 9:56 am
I purchased Fap Turbo some time ago and have been trading it on a demo account (thank God). This software is a worthless piece of crap. I followed the step by step set up process but after a few days of hardly any trades, I paid the additional $57 ($10 discount) to have a FapTurbo representative set it up for me. I wasted $57 because it took the “tech guy” 3 minutes to tell me I had it set up right.
When I asked him why the eur/usd trades were 50% winners and 50% losers, and why the other default pairs hardly ever trades and when they do, why is it only for about 2 hrs (7 – 9 pm EST). He tried to sell me another robot for $149 that he claims is doing better than FapTurbo. I asked him “What the hell. Didn’t you guys claim that FapTurbo is 96% accurate?” He was silent. I was livid.
These guys are just a bunch of marketers pushing some stupid product. They don’t know diddly squat about forex. They don’t repond to emails either. Caveat Emptor!!!
November 19th, 2009 at 11:54 pm
hi, great website I have just added it. I was wondering what people thought about fapturbo and does anyone know if there is a free version of it ?