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[Ken Long]

Originally Posted by tainfo

anyone having good result with new fapturbo v49

any good setup info would be nice

wich currency for a newbi to start with

Originally Posted by tipuwang

wondering which broker you are using & I am using default setting.

Default setting can work ok, but beware the spread on the gbpchf, its too wide to safely scalp on a live account, you wind up giving more to your broker than you make.. DonnaForex.com lists her settings and live trading stats for free, as well as trading stats on a number of other robots that are interesting. FAP-T Experts guide also has premium (pay$) custom settings that are worthwhile. Mostly you'll find that these people dont trade the gbpchf or eurgbp, and that they often alter the trading hours to increase the number of trades. This tends to be quite risky, while it does increase the number of trades, it also increases the number of loses. Like MegaDroid this EA needs a flat range and cant handle breakouts.

As far as choosing pairs and brokers for a newbie, its probably best to trade several pairs with small position sizes to spread the risk out. The trading frequency and results are very spread dependant, so choose a broker that has tight spreads on these pairs.

[forex-tester]

any good setup info would be nice

I recommend trading only USDCHF, USDCAD and EURCHF M15 for your deposit for best effect. Don't use long term strategy for small deposit size. Set MoneyManagement (MM) ON and Lotriskreductor = 10 for EURCHF, 20 for USDCHF and 15 for USDCAD. Set the MaxSpread value to 8. Other settings - defaults.

[Zaatar]

I have a real account of 3000 $, running since almost one month now (balance 2636$). I'm loosing more than 10% up to today. If somebody need to see my result, I'll be glad to send it to him. It seems to me that this EA, when it is making money (default setup) it gaining peanuts, but it erase all your gains and more in just one loss.
Please don't trust the backrests and forward tests, they are not realistic.
Since several days I tried to post a comment on FapTurbo forum, but the admin just blocked it.

[TheBluePrince]

Zaatar

I don't doubt what you posted. It does increase slowly. It may wipe out the gains with a big loss. I have run my copy in a demo account for 2 weeks with default settings trading all valid pairs. The account started at $50,000. After 1 week it was at $53,000 which isn't bad for 1 week. That was after some drawdowns to about $49,000 the first week. The second week it had drawndown to about $ 51,000, but now it is back up to about $53,400. Better than poke in the eye with a sharp stick, as we say in Texas. But not nearly as good as advertised. I'll keep it running in demo. I don't trust the drawdowns enough for the small gains it produces.

[Zaatar]

Originally Posted by TheBluePrince

Zaatar

I don't doubt what you posted. It does increase slowly. It may wipe out the gains with a big loss. I have run my copy in a demo account for 2 weeks with default settings trading all valid pairs. The account started at $50,000. After 1 week it was at $53,000 which isn't bad for 1 week. That was after some drawdowns to about $49,000 the first week. The second week it had drawndown to about $ 51,000, but now it is back up to about $53,400. Better than poke in the eye with a sharp stick, as we say in Texas. But not nearly as good as advertised. I'll keep it running in demo. I don't trust the drawdowns enough for the small gains it produces.

From my experience, testing anything with a demo account is not a good evaluation of the product. I have run my self at the same time a demo account and a real account of FapTurbo. Believe me, results are not the same at all. So don't trust your experience. I would prefer doing the test on a micro account, it does not cost much and it gives you a real result. But don't decide to purchase a product based on your test with a demo account. As I told you, drawdowns are very hight compared to gains for this product, imagine somebody doing one step forward and three steps backward.
FapTurbo people have a very aggressive marketing strategy but thanks to forums like forexpeacearmy, I think they will not lure us and hope you will think twice before buying their product.
For me I will give it one more week then will stop it and find other product.

This is my opinion about this product, hope it will help

[TheBluePrince]

A micro account might give worse results because the commission and spread may be higher as a percent than trading full lots. I'm not sure, but that seems likely. Anyway, if I do trade live it will be with Interactive Brokers who have better commissions and spreads than the forex brokers.

[Ken Long]

Originally Posted by TheBluePrince

A micro account might give worse results because the commission and spread may be higher as a percent than trading full lots. I'm not sure, but that seems likely. Anyway, if I do trade live it will be with Interactive Brokers who have better commissions and spreads than the forex brokers.

I dont think IB has a MetaTrader platform. Their better commisions and spreads are based on account size and volume, without that you will be charged an additional monthly fee.

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Backtesting and demo testing should always be prerequisits to live testing. Although they are less accurate, they will show how an EA trades under ideal conditions, and there are too many EA's being sold that cannot trade properly under any conditions.

In most cases a simple backtest will show enough about the EA's trading style and profitability to eliminate most of them. Whereas, the forward test on demo will allow you to evaluate the EA running on multiple currencies or alongside other EA's. All very important considerations before you place one on a live account.

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I've owned FAP-T since it came out Nov 25, 08. I've had it on several accounts in that time, but I dont currently run it on a live account. I find it too unreliable. Every time it gets going with a good run it takes a bad loss and wipes out the gains. I've been running it on a 5K demo at GallantFX, using the FAP-T Experts Guide settings since Oct. At one point it was up by $1500, but it lost this and has been below 5K ever since. This EA has enormous potential, but it also has a high degree of risk, and the pairs it trades are the worst choices for most accounts.

[Zaatar]

Ken
I agree with you 100%
It seems that you have been around with EAs since long time, are you using any EA now and if yes what is the outcome?

[Ken Long]

Originally Posted by Zaatar

Ken
I agree with you 100%
It seems that you have been around with EAs since long time, are you using any EA now and if yes what is the outcome?

Yes, I've been running MegaDroid on a live account for a long time and it works quite well. I also run an updated version of Magic Machine on the same account. I had originally returned it for the obvious theft of Funyoo's v-force like ea, but recieved a free copy as a bonus for trying IvyBot. You can try the free v-force EA, but test it well first, there is some difference.

If your interested in the Magic Machine, v-force EA, check the 4Xproject.com site for more info and links, I dont have his link on hand.

[tipuwang]

Originally Posted by Ken Long

Yes, I've been running MegaDroid on a live account for a long time and it works quite well. I also run an updated version of Magic Machine on the same account. I had originally returned it for the obvious theft of Funyoo's v-force like ea, but recieved a free copy as a bonus for trying IvyBot. You can try the free v-force EA, but test it well first, there is some difference.

If your interested in the Magic Machine, v-force EA, check the 4Xproject.com site for more info and links, I dont have his link on hand.

Ken,

THe Magic Machine, v-force EA is good compare to MD?