long term fapt user
I started with fapt in Dec 2008 and have run it pretty much throughout the past two years. FT seems to run in cycles of profitability and the trick is to turn it down when it starts to lose a bit. Profitability is very sensitive to spreads so you must only run it on a reputable broker with 3 to 5 pip spreads. I have also found it best to go with tp=5 instead of the vendor's defaults. This way the EA can get through its trades easily and be ready to take the next one. It also avoids many SL situations where going for the full pip TP leaves you sitting all day in a vulnerable situation. I have honed the trading hours down to trade just 20:00 to 23:00 GMT. After this I tend to manually close out anything hanging around break even or better. Overall I have made good profits in 2 years but like nearly all EAs it is not just set and forget...you must look in regularly to see what it is doing and adjust accordingly.
I started with fapt in Dec 2008 and have run it pretty much throughout the past two years. FT seems to run in cycles of profitability and the trick is to turn it down when it starts to lose a bit. Profitability is very sensitive to spreads so you must only run it on a reputable broker with 3 to 5 pip spreads. I have also found it best to go with tp=5 instead of the vendor's defaults. This way the EA can get through its trades easily and be ready to take the next one. It also avoids many SL situations where going for the full pip TP leaves you sitting all day in a vulnerable situation. I have honed the trading hours down to trade just 20:00 to 23:00 GMT. After this I tend to manually close out anything hanging around break even or better. Overall I have made good profits in 2 years but like nearly all EAs it is not just set and forget...you must look in regularly to see what it is doing and adjust accordingly.