SOFTWARE

Advisors Forex

Best Forex Robot - Fap Turbo Expert Advisor Forex Robot

Built on 9 years of experience with Forex Auto Pilot (see separate review), and it has averaged 48% profit per month, for 102 months straight. Most users that get it working report a 95% successful trade rate or better. User base of 37,000 (including his Forex Auto Pilot). Private Members forum to exchange ideas and experiences. It has the industries worst customer service level. It did have a nasty bug in release v37, but that was fixed at the beginning of the year. I recommend the Fap Turbo Forex Robot - but not because of customer service. If used properly it will work very well. $149 -60 day Clickbank money back guarantee.

FAP or Fap is short for Forex Auto-Pilot (see separate review on this web site). When you get Fap Turbo and install it - it has default settings adjusted for you. You are encouraged to watch all the training videos and other materials. Also to join the Fap Turbo private members forum and read up on it all.

And you are encouraged to open demo accounts with brokers to watch it action before you invest money in live trading. This robot does work, but only after you learn how. And the vendor Marcus Leary is not going to make that easy for you - until he gets even more money from you.

These default settings it comes with specify what is the "stop loss" (SL) and what is the "take profit" (TP) points Fap Turbo will execute your trades at.

For example, if you buy a currency pair at a certain price, it will take profits at whatever "pips" it's set at, and likewise with the stop loss.

These default settings have been a trap for some people. For some stupid reason, the release of Fap Turbo v37 came out with its default stop loss set at 112 (pips). That is a VERY large loss point, and many people got hurt by it. The optimal setting for stop loss is 35!

It has recently been rectified at the beginning of the year by the release Fap Turbo v47.

Needless to say, this one error in the release of Fap Turbo created some negative comment around the Christmas period and earlier this year. It was a silly mistake by the vendor - and not one that people could fix themselves because in v37 it was not possible to alter the default setting for stop-loss.

While on the subject of negative comment, just because they have such a massive install base, don't think it is without its troubles. I am very sure that Clickbank do an inordinate number of refunds for this forex robot and its little brother Forex Auto Pilot.

Why? Because they are known to have the lowest service levels you can image. The support forum is moderated, which means an administrator must approve all messages posted - and yep, only positive messages are accepted.

Any criticism or complaint is simply deleted which of course drives that user even more crazy. If you send them an email, it will probably end up in the bit-bucket. There is one support lady - Donna - who does her best, but she is working for draconian management with have her hands tied.

Don't let that get in the road of using this product. The management sucks -but the product still has merit. The smart way to deal with this in terms of the forum is to seek out smart friends who can guide and assist you outside of the forum.

And look outside of Fap Turbo for your necessary help and advice. The support or lack of it is so bad that it has spawned a completely separate business and mini industry. Also reviewed under another listing on my websiteis Fap Winner which provides expensive (one off $199 fee) but valuable advice and services to get you running this robot at optimum levels.

So, support being at a chronically low level is the one main complaint. The other complaint is that the live demo account shown on the sales page actually has secret settings, not default settings. That is, the results are real, but the settings are never going to be told to you.

The third and last major complaint about this company is that they also try and sell you their competitor's product too. After you buy this one, you can expect them to phone you to buy consultancy services, and you will be regularly emailed to buy for example Forex MegaDroid. Amazing, but true story.

It's all about the marketing hype by the idiot vendor of Fap and Fap Turbo who only wants to upsell you. He does not and nor will he ever actually care about you.

Fap Turbo is best known as a "scalper" - meaning that it opens and closes trades within the same minute. Scalping is a core strategy many manual traders use and it can be very effective. I do like this strategy as my money is not exposed for too long.

If you set it up correctly there is no question your Fap Turbo will make you money. The following are some of the settings you can change in Fap Turbo;

Scalper_UseMM - If TRUE this parameter will allow FAP Turbo to automatically calculate the lot size for you. In the live account (see http://www.forex-robots-reviewed.info/forex-robot-reviews/fap-turbo.php), this setting is set to TRUE which has the effect of compounding your growth. As your account grows, the lot sizes will grow too.

Scalper_Lots - If Scalper_UseMM=FALSE, this setting allows you to change the lot size manually.

Scalper_LotsRiskReductor - Risk (determines the size of each trade), this parameter is only used if Scalper_UseMM=TRUE. The two settings work together.

If the spread (difference between buy and sell prices) is 2 pips, then your position must move your way 2 pips to break even. If the broker (many don't set fixed pip spreads) changes the pips spread at certain hours of the day, then maybe your position must move 5 pips to break even.
Fap Turbo Expert Advisor Forex Robot Review

Therefore the following 2 settings do make a big difference. Time of day is a big issue with variable spread brokers. Many/most open up their spreads wider (meaning you pay them more) during poor liquidity in the market - which is often at certain times of the day.

Scalper_StartWorkTimeHour - First hour of trading Scalper_EndWorkTimeHour - Last hour of trading Scalper_GMTOffset - Adjusts trading time depending in what time zone your broker is operating from - so of course it is important to tell your robot what time it is.

Scalper_MaxSpread - The maximum spread allowed for trading Scalper_OneTrade - If TRUE FAPT will only make one trade per day for the pair.

Now let's look at some proof of earnings. Click the link on this review in my website, it will take you to a live account set up by the vendor of Fap turbo.

Fap Turbo Live Trading Account - Started with $5,100 November, 2008.

Now, besides that the font size is too small to read easily, the facts are that as of May 15, 2009 that account sits at $31, 542 profit. The live account was opened with $5,100 on November 6, 2008 and so that is about 620% profit in just over 6 months.

Is it luck? No way! Is it the secret settings of the vendor - yes you bet it is. But you arriving at the same or similar settings is very achievable. The answers lay in the private member's forum, and in your own testing with demo accounts.

By the way, as impressive as this profit performance is, it is not nearly as good as the Forex MegaDroid, so you had better read that review next after this one.

Just so you know, both these forex robots work well together on the same computer side by side. You should consider using them both to compliment each other. When 1 misses a good trade the other should scoop it up.

Remember, robots are good at what they do. But you as the human owner are to profit by controlling your expert advisors. Don't for a moment think there are 25,000 forex robots all programmed the same with the same settings all doing the same thing at the same time. That is simply not the case.

So, buy your Fap Turbo and watch the training videos and learn all about the settings. Join the private members forum, and learn the best settings that people currently use. You probably should also join Fap Winner - as they do give outstanding levels of service.

Test your skills with these settings on your demo accounts. And to be very clear on this, have demo accounts with the various brokers. They all charge differently, and perform differently. If after 2 months you cannot get it to work well for you with your free demo accounts - get use the 60 day money back guarantee. You will have lost nothing and learned a lot.

Learn the language. Pips and stops, spreads and scalping are all new words to you now - they will soon become your second language. Be patient with yourself, give yourself the time. You are capable of learning these things!

Conclusion

I am going to recommend this Fap Turbo - WITH Fap Winner. I thought I would be recommending it as a stand alone product before I started this review. Then I found hundreds of horror stories of the people/users who suffered from the "112 stop-loss" default setting issue and stories of the woeful lack of support. The fact is that this EA does have a huge and loyal user base out there.

Because there are 37,000 users, there is a great deal of learning resources and the support forum to guide you to success. It is quite clear to me that you can reasonably expect to gain profits of 20-30% per month.

But I also urge you to also join Fap Winner to get it working at its optimum level of performance.

This forex robot has not earned my top recommendation. But yes, it is one of the top robots - I do strongly recommend it - and I do suggest you have it in your tool kit. Learn more before you buy at my website where I have reviewed 40 robots.

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4xProject - Forex Turbo Robot Review