The FAP Turbo System Review
from Fapturbo.com
FAP Turbo Review - Product description
The FAP Turbo System is a forex trading expert advisor developed by Steve Carletti, Mike and Ulrich that runs on the MetaTrader platform. Originally designed and released by Marcus B. Leary of the original Forex AutoPilot EA, Steve Carletti, Mike and Ulrich retooled the FAP into the FAP Turbo to be more profitable than the original program before they launched it to the public.
The FAP Turbo EA comes with two trading systems:
- The Scalping System
- The Long Term Trading System
The FAPTurbo was launched on 22nd November 2008, and has live account statements updated every 15 minutes on its website. Since inception, their live money accounts have more than doubled in value. Based on their live account trading results, you can double your money every month.
Since its release, the FAP Turbo has grown its user base to more than 50,000 traders across the world. This makes it one of the largest, if not the largest, forex expert advisor used to trade on the MT4 platform.
To back up their claims as one of the best, if not the best, forex expert advisor in the marketplace, they show regularly updated LIVE trading statements on their webpage showing how small accounts have grown through the months of trading.
What you get with the FAP Turbo Trading System
- Two Trading Systems In One Expert Advisor
- FAPTurbo.com Scalping System
- FAPTurbo.com Long Term Trading System
- Life-Time Updates to the FAPTurbo EA
- Easy Installation Program (Program that installs FAPTurbo for you)
- Access to Private Members Forum
In order to make the most of the FAP Turbo trading system, you are advised to use a VPS server to keep your MT4 platform live 24 hours through the trading week, as well as getting the FAP Turbo Expert Guide to discover how to get the best settings for your EA.
Possibly one of the better supported MT4 forex trading expert advisors in the market place.
Visit the Official FAP Turbo website now >>
Check out the Official FAP Turbo Expert Guide website now >>
A FAP Turbo Friendly Forex Broker (IAMFX.com) >>
The FAP Turbo System - Product Research
Based on my research and feedback from users, the FAP Turbo scalping system is very spread sensitive. This makes your choice of broker an important element for success in using the scalping system. Fortunately, the FAP Turbo team is on the ball in this aspect and is always searching for better brokers to help their extremely large user base to be profitable.
The main claim to fame with the FAP Turbo is their Scalping System with less emphasis on their Long Term Trading system. It is with the scalping system that they achieve the kind of profitable results that they display on their site.
The good thing about the FAP Turbo system is when the spreads are too wide, it does not open any trades to protect your capital from being hit when it is time to close the trade. This is especially important in a scalping system since it is designed to take many trades for small profits.
The issue with the scalping system is also the fact that it employs a fairly large stop loss to give the trade time to hit the profit target. So if there are a few losses in a row, it can easily wipe out the accumulated profits from several trades.
As with all trading systems, scalping with the FAP Turbo requires the trader to have a strong emphasis on risk management and not over-trade with large positions. However, because of the nature of large stops and small profits, scalping systems require the trader to have patience and control of the greed that comes with a string of many winners. Going overboard can easily cause the trader to get hit big time when the inevitable loss comes.
Drawbacks with the FAP Turbo Trading System
In order to monitor the trades, the FAP Turbo expert advisor has to be running. This means you need to keep your computer and trading platform running in order for the EA to work. In most cases, if you have lousy internet connection or cannot keep your computer running, you are recommended to use a Virtual Private Server (aka VPS) to run your trading platform.
This adds a monthly running cost to trading with any expert advisor, not just the FAP Turbo. So if you intend to run several EAs, then getting a VPS to host your MT4 platform is a good idea just to make sure that power outages or loss of internet connection at your home doesn't affect the EAs from executing orders when necessary.
My Personal Comments on FAP Turbo
Different Live Trading Statements
One of the things that I have noticed is that the FAP Turbo team seems to change the live trading statements on their website. It probably has to do with changing brokers as the ones they originally used are not spread or execution friendly to the FAP Turbo EA. This makes tracking the long term profitability of the FAP Turbo a little difficult.
Customizing the FAP Turbo Trade Settings
Another thing with the FAP Turbo is the ability to change and tweak the trade settings. So while one trader can be losing money, the next can be racking up high profits every day. While you can trade the FAP Turbo out of the box with default settings, it also appears that traders who are making money consistently with the FAP Turbo have two things working for them:
- They are using a good broker that is FAP Turbo friendly
- They are adjusting and tweaking the trade settings to be more profitable
If you intend to get the FAP Turbo scalping system as part of your trading arsenal, then we strongly recommend that you also purchase the FAP Turbo Expert Guide to learn how to tweak the settings. From the user comments we have researched, the profitable traders are the ones who are applying what they have learnt from the FAP Turbo Expert Guide to their FAP Turbo trade settings.
Many Small Wins with Occasional Big Losses
The thing about FAP Turbo is the relatively big losses that come along occassionally. While I am aware that no trading system can be 100% profitable, the risk/reward scenarios for FAP Turbo can be a little shocking to novice traders.
It also means that regular testing and tweaking might be needed to maintain the profitability of the system. The FAP Turbo team takes care of this by regularly releasing new updates every other month, but if you want to personalize your trade settings then you would have to get the FAP Turbo Expert Guide for more training.
The FAP Turbo system is not a trading robot that you leave unattended for extended periods of time. While it executes the trades for you, it does require work on the part of the forex trader to keep tabs on its performance.
Points In Summary About the FAP Turbo System
- Regular updates to the FAP Turbo system by the FAP Turbo Team
- The FAP Turbo team is on the ball in finding better brokers for their user base to be profitable
- They show live trading statements on their website to back up their claims of profit
- It has become popular enough that it has a supporting FAP Turbo Expert Guide to teach users how to tweak the trade settings
- They have been around since November 2008
- Many traders who actually take the time to learn and master the usage of the FAP Turbo system have shown profits
The FAP Turbo system is a good automated scalping system that allows traders to scalp the markets. It does require users to keep tabs on the performance and has the option to manage the trade settings for higher profitability.
If you are a trader who finds that automated trading takes the emotion and double-guessing out of the equation, then the FAP Turbo is a recommended program for actively scalping the forex markets.
Visit the Official FAP Turbo website now >>
Check out the Official FAP Turbo Expert Guide website now >>
A FAP Turbo Friendly Forex Broker (IAMFX.com) >>
User Comments and Feedback on the FAP Turbo System
Here are some of the user feedback and comments that we found on the trading forums about FAP Turbo:
There is an active forum on the FAP Turbo system that can be found here:
Visit FAP Turbo Forum >> (opens in a new window)
I've tried FAP Turbo on a live account for a couple of days now. While it's giving moderate result with its scalping strategy, it's made great profit through its long-term strategy.
Sam Blazer - Actual FAPTurbo User
I purchased Fapturbo back in November. I installed it and I did not have any problems with this. A couple of days later the program opened a trade and almost lost 30% of my account. (Demo). I contacted support for a refund. I did not want to use the EA anymore. Now after 12 emails and 2 live calls I still did not get my refund (or a reply to my emails). Vassilis, Greece from http://www.forexpeacearmy.com/public/review/www.fapturbo.com
I purchased the FAPTurbo in late November. I messed around with some settings and ran a demo account with the settings. I was very pleased with the results so I moved over to my live account on December 2nd. I only use the scalping feature currently on my smaller account ($500) as recommended by FapTurbo developers. So by the time I get home from work it has been going a couple hours. The first day I only made $38 bucks, but I had a feeling that things would keep moving. So far so good. Today it opened a lot more scalps and seems to be doing fairly well. I know it has only been a couple days, but since I have moved to a live account I have seen very similar results to my demo account. So I am not worried there.
David C., Suwanee, GA from forex-trading-study.com
Fap turbo is definitely not a scam. I had bought the Fap Turbo when it was first released...also started a forum for members which is really informative and I had answers to my questions like forex brokers, strategy, general questions etc...I'm a user of Fap Turbo myself and I'm happy with it...
Yan L from http://answers.yahoo.com/question/index?qid=20081224231817AAVyaZ0
I have used Fapturbo since 12-2-9 and shut it off around Christmas time because of increased volitility in the market. In the 3 & 1/2 weeks that I used it, my DEMO account grew from 10K to 14K. Roughly, 10% per week. An average win has been about $33 and average loss about $130.
The performance of Fapturbo is based in large part on the settings. This is one EA that requires a lot of individual adjustments...Anyone who wants to use Fabturbo, needs to get acclimated to it and be willing to test various setttings such as TP, SL, Trading Hours and relax hours. Unless of course you want to run it on the default settings, but you probably not seem more than about 4 trades a day...
Jim Texas from http://www.forexpeacearmy.com/public/review/www.fapturbo.com (comment made on 2010-01-02)
Visit the Official FAP Turbo website now >>
Check out the Official FAP Turbo Expert Guide website now >>
A FAP Turbo Friendly Forex Broker (IAMFX.com) >>
Have you used this product?
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