the new site is up!

goto www.robotforextrader.com!

i wont be posting here any longer =)

Ciao!

David T

The FAPTurbo Aftermath!

Well it looks as though there are less and less people utilizing fapturbo to extract cash from the forex market.

Dont get me wrong, it’s still a good system but the options for currency pairs is what really limits it’s effectiveness.

So in the meantime I will post some robots that I’m currently using with some good success.

Lucky EA v2b – one of the best FREE ea’s I have tested thus far. this is a scalping EA that trades the EURGBP pair. I find it highly effective and am fine tuning trading times for maximum effectiveness. Will release those presets here when I’m completely satisfied.

Tail Gunner – operates on the principle of bouncebacks. when the market hits a spike, there’s usually a retracement, well guess what that’s perfect for this EA. I have done some fine tuning and exact hours when this EA should be traded for maximimum results. I’m pulling together a preset list pack for this EA. And should have this ready this weekend for download here. I just moved this to my live account so I want to tweak until I’m comfortable then I’ll release. =)

Have fun all! Ciao!

David T

FAPTurbo LRR Philosphy

Hey I got a great question from a reader and I thought I’d post it up here for everyone’s edification… =)

—————–

Hey Michael, unfortunately I dont know the specific settings they’ve used to achieve their results. In looking at what they’ve done, they definitely adjusted it as they went, chaging LRR and such. Contrary to what most would like, EA’s like fapturbo are not set it and forget it. They are more like set it… watch it… change it… turn it off when there is bad news in the market… turn it on when the bad news is gone… etc.

There’s a lot to it that I’ve learned.

As far as the “philosophy” of risk in fapturbo… it’s all based on volatility in the market. Normally volatility is great in FOREX as that’s how you make money manual trading. The opposite is true for scalping and that’s what fapturbo is about. It’s about scalping 4 major pairs namely EURGBP. So risk is really associated with how stable and undisturbed the scalping session is. If we focus on EURGBP, this pair is normally finding “consolidation” after 21:00 GMT then staying that way until around 18:00 GMT… this is basically the asian trading session. Why does it find consolidation…?

Simple, no news comes out in that market until the next trading session normally.

In fapturbo, you are basically assigning a amount of your capital your are willing to risk through the setting LRR on your confidence that the market will be relatively consolidated while your trading.

I’m not bound by any agreement! =) If you choose to buy the product, I neither endorse it or hate it, I just basically tell it like it is. If folks by from my link, then I get a little kick back but it’s no big deal. =)

Ciao
David T

Been a little quiet huh?

That’s because I’ve been perfecting my usage of lucky ea on eurgbp and gbpusd…!

Hang tight, I’ll have plenty of recommendations this weekend!

Ciao

David T

FAPTurbo Recommendations for January 2009

Well as many are experiencing… I too am experiencing a lull in fapturbo’s performance. It seems that FXPro has widened the spreads during the scalping session that fapt uses to 5+ pips.

Anything more than 3-4 pip spreads is dangerous in a scalping strategy IMO. Basically the idea in scalping is to get in and get out quickly taking advantage of small movements in the market. Obviously with 5+ pip spreads this becomes very difficult if not dangerous. It no longer becomes scalping but more like range trading and that’s not really what fapt was designed for methinks. I hope turbomike and company figure this out quick.

Thus I have had very few trades occur on my live and demo accounts. Additionally I almost blew up my account by turning on long term strategy.

My recommendation for January 2009 is:

• If you have a small account ( less than $1000) then put fapt back on demo and learn how to trade manually.
• If you have a bigger account ($10k+) then use fapt long term settings and/or forex autopilot which I think is still doing well on longer term trading.
• Learn to trade MANUALLY! check out my other blog on the right hand link, I will be placing all my ideas there.
• If you are going to keep fapt scalping on then be careful, limit it to EURGBP. Since the spreads are so high these days, it will only grab a scalp in an optimal condition and that’s actually a good thing.

Anyway just my thoughts.

I’m testing other EA’s at the moment and will keep them updated here.

So far Lucky EA seems to do well scalping in a sideways non-trending pair and tail gunner seems good but not sure how it’s really operating yet. It basically will go on a win streak then have a bad loss giving it back. According to the author it’s really not designed for automated trading but rather finding the best entry points and executing a trade for you. You, still need to exit at the right time and it seems that the EA doesnt quite do that well yet.

I’m tuning lucky and tail gunner at the moment and will be looking at a couple others too.

Ciao!

David T

EA Notes & Adjustments for this week

Lucky EA

• From doing analysis on the trades, it was most successful on EURUSD 5m from 05:00 GMT to 06:00 GMT. Going to try again with that, spreads were too high on EURGBP for it to execute a trade.

Tail Gunner

• Moving this EA back to the demo but will be setting it up on GBPUSD only since I’m going to be manually trading that one and I seem to be doing well manual trading that.
• Will be using this more as an indicator. It seems toREALLY well in spotting entry points but the EA doesnt do so well actually entering. So what I’m saying is I will be using this as a manual trading indicator in addition to fibo retracements for entry/exit.
• I will be placing looking at the 2nd order on a trend since the first order seems to not do so well unless it’s locked it in correctly to a trend.
• I also need to see what’s happening with the indicators when it’s getting the first order wrong and why it didnt buy or sell correctly at the beginning of the reversal trend.

Ok, I’m also going to be making adjustments in the way I report the performance of my EA’s. Will be doing end of week results as opposed to daily. It’s really hard for me to do daily since I’m at the moment testing alot of things so for now I will post weekly results and total results on the right hand side of the blog!

Enjoy and lets all have a great week of trading!

Ciao

David T

The Week’s Result

Well I had a pretty rough week.

FAPturbo seemed to do alright from a scalping perspective until I turned on the long term trading. My account just isnt big enough for that type of trading at the moment I need to switch back to scalping until I grow it.

Additionally, I tried some other EA’s that I found. Tail gunner and lucky. Both had mixed results. I found tail gunner to be successful on the 2nd and third entries of a trend but not on the initial entry. I will be moving that back to demo as it had a bit of a rough patch. I think I can use it as an indicator instead so I think that might be my strategy.

In terms of Lucky, 1 – the EA is not optimized for news releases. It had a rough patch and here’s what happened.
2 – the ECB chairman went on record as saying that he was not in favor of interest cuts.
3 – news releases happened for Euro yesterday that changed the trend from down to up
4 – this EA does well when the trend is up and down but stays in a range, yesterday look at EURUSD & EURGBP they went on a big uptrend

I’m going to continue using this EA but ONLY late in the day GMT and after the news volatility has died down and the trend is not a strong trend.

Still need to my analysis of fapturbo peformance and update the pip gain.

Ciao

David T

01-13 to 01-14-2009 GMT Trading Results

The last 2 days have been a little rough. The scalper has been doing OK but I’ve recently implemented the long term trading and that’s had some problems.

Had many good trades but a couple of bad ones that wiped them out. So I’m starting over again a little.

I’m still up 143% on my account but now I’m testing a couple of other EAs that look promising.

One of them has had 14 consecutive wins on my demo account and 6 consecutive on my LIVE account.

I’ll post results tomorrow as I should have a little more time.

Ciao!

David T

FAPTurbo Broker Offsets

Ok, I’ve noticed a ton of questions from different folks on various forums asking for fapturbo broker GMT offsets so I’ve decided to put together a list for everyone. I’ll update this as I get more brokers.

Keep in mind, that daylight savings time doesnt kick in until March 8, 2009 so when that happens, I believe you will have to add 1 to whatever your offset is… then do the opposite when DST turns off in Fall.

Here’s the quick and dirty list fapturbo GMT offsets!

• FXPro offset: 2
• Forex.com offset: 0
• Fastbrokersfx offset: 2
• IBFX offset:  0
• Alpari offset: 1
• FXDD offset: 2
• FXCM offset: -5
• ForexMeta offset: 2

Some brokers not really friendly to scalpers not necessarily EAs or fapturbo specifically. This is from personal knowledge and from what ppl have been saying…!

• ODL offset: 0

If you are using a broker not on this list, please refer to the fapturbo manual or website for updating. If you’re lazy like me then here are directions for you:

• GMT OFFSET is a very important parameter for scalper strategy. It defines the offset in hours between GMT and your broker time (market watch in MT4). It should be set carefully in order to let
  Fapturbo work properly. If you fail to set the GMT offset carefully you can get unexpected losses. Please be careful! Ask your broker about their GMT Offset if you are not sure!
• Please note: If your Market Watch is frozen that means that your broker is on the weekend holiday and that broker time is not valid for GMT offset. You should wait until your broker is on the trading day to set the proper GMT offset value!
• Also please mind the switch from summer to wintertime twice a year. Some brokers switch the time so you should adjust your GMT offset again on these days!

1. Check GMT, goto http://wwp.greenwichmeantime.com and note GMT.
2. Goto your MetaTrader terminal and note the Market Watch time (this is the time that your broker uses).
3. Do the math: GMT – Broker Market Watch = GMT Offset
4. If you get a negative number, dont worry, just put in the negative number (e.g. -5 for FXCM) into the GMT offset field of fapturbo scalper settings.

Ok, well have fun trading ppl!

Ciao,

David T

01-12-2009 GMT Monday Trading Results!

Good day today! Recovered from a bad hanger of USDCAD from last Friday.

I’ve been doing some reading and I’m going to stay away from USDCAD anywhere close to Friday, especially the frist Friday of every month. Apparently is called Bloody Friday!

The other thing I’m going to make an adjustment on are hanging trades close to the end of GMT trading hours for FAPTurbo. I’ve noticed these can go a bit awry. I closed the USDCAD hanger last week for a bad loss and saw it today again with another late USDCAD trade that went negative, thankfully I closed this one w/out too much loss. So that’s probably the other adjustment I will be making.

Ok onto the results! From now on, I’m going to cut and paste the running statement total, that way you can see everything happening.

Closed Transactions:
Ticket Open Time Type Size Item Price S / L T / P Close Time Price Commission Taxes Swap Profit
2869631 2009.01.06 23:00 buy 0.10 eurgbp 0.90403 0.88730 0.90920 2009.01.06 23:11 0.90471 0.00 0.00 0.00 10.15
2870235 2009.01.06 23:24 sell 0.10 eurgbp 0.90551 0.92130 0.90130 2009.01.07 02:48 0.90560 0.00 0.00 -0.10 -1.34
2911749 2009.01.07 23:29 sell 0.10 eurgbp 0.90200 0.91880 0.89700 2009.01.08 01:44 0.90170 0.00 0.00 -0.32 4.54
2913359 2009.01.08 00:22 buy 0.10 usdcad 1.19319 1.17670 1.19910 2009.01.08 01:14 1.19425 0.00 0.00 0.00 8.88
2914267 2009.01.08 01:16 sell 0.10 usdcad 1.19449 1.21120 1.18870 2009.01.08 07:07 1.19396 0.00 0.00 0.00 4.44
2915551 2009.01.08 01:45 buy 0.10 eurgbp 0.90173 0.88580 0.90650 2009.01.08 01:51 0.90238 0.00 0.00 0.00 9.80
2916192 2009.01.08 01:55 sell 0.10 eurgbp 0.90328 0.91910 0.89750 2009.01.08 02:03 0.90273 0.00 0.00 0.00 8.28
2917844 2009.01.08 02:19 sell 0.10 eurgbp 0.90371 0.92040 0.89850 2009.01.08 02:31 0.90309 0.00 0.00 0.00 9.32
2918488 2009.01.08 02:33 sell 0.10 gbpchf 1.66648 1.68330 1.66110 2009.01.08 02:45 1.66547 0.00 0.00 0.00 9.12
2918855 2009.01.08 02:35 buy 0.10 eurgbp 0.90236 0.88640 0.90810 2009.01.08 04:17 0.90270 0.00 0.00 0.00 5.11
2952174 2009.01.08 23:00 buy 0.10 usdcad 1.17859 1.16250 1.18420 2009.01.08 23:18 1.17965 0.00 0.00 0.00 8.99
2953078 2009.01.08 23:28 sell 0.10 usdcad 1.18065 1.19650 1.17660 2009.01.08 23:45 1.17975 0.00 0.00 0.00 7.63
2953579 2009.01.08 23:31 buy 0.10 eurgbp 0.89951 0.88450 0.90390 2009.01.09 00:49 0.89992 0.00 0.00 -0.02 6.24
2953974 2009.01.08 23:54 sell 0.10 usdcad 1.18108 1.19760 1.17600 2009.01.08 23:58 1.17996 0.00 0.00 0.00 9.49
2955560 2009.01.09 01:49 sell 0.10 usdcad 1.18120 1.19660 1.17720 2009.01.09 10:55 1.18700 0.00 0.00 0.00 -48.86
2955837 2009.01.09 02:12 sell 0.10 eurgbp 0.90019 0.91530 0.89510 2009.01.09 03:05 0.89951 0.00 0.00 0.00 10.34
3022381 2009.01.12 23:00 sell 0.10 eurgbp 0.90246 0.91950 0.89710 2009.01.12 23:09 0.90207 0.00 0.00 0.00 5.79
3022323 2009.01.12 23:00 sell 0.10 eurgbp 0.90226 0.91750 0.89820 2009.01.13 00:00 0.90190 0.00 0.00 -0.10 5.34
3022792 2009.01.12 23:02 buy 0.10 usdcad 1.21464 1.19900 1.21910 2009.01.12 23:10 1.21555 0.00 0.00 0.00 7.49
3022746 2009.01.12 23:02 buy 0.10 usdcad 1.21444 1.19800 1.21970 2009.01.12 23:10 1.21555 0.00 0.00 0.00 9.13
3023851 2009.01.12 23:38 sell 0.10 usdcad 1.21673 1.23310 1.21230 2009.01.12 23:54 1.21559 0.00 0.00 0.00 9.38
3023899 2009.01.12 23:38 sell 0.10 usdcad 1.21673 1.23240 1.21160 2009.01.12 23:54 1.21564 0.00 0.00 0.00 8.97
3024930 2009.01.12 23:51 sell 0.10 eurgbp 0.90242 0.91870 0.89640 2009.01.13 00:01 0.90181 0.00 0.00 -0.10 9.04
3025900 2009.01.13 00:46 buy 0.10 usdcad 1.21575 1.20040 1.22100 2009.01.13 00:59 1.21688 0.00 0.00 0.00 9.29
3026961 2009.01.13 01:27 sell 0.10 gbpchf 1.65162 1.66690 1.64580 2009.01.13 02:22 1.65056 0.00 0.00 0.00 9.50
3027732 2009.01.13 02:12 sell 0.10 usdcad 1.21764 1.23410 1.21300 2009.01.13 03:21 1.21990 0.00 0.00 0.00 -18.53
  0.00 0.00 -0.64 117.53
Closed P/L: 116.89

So ya nice! That’s 24% profit in one week. I like.

Net results for today: +55 PIPS!

Sweeeeeeeeeeeeeet!

Ciao,

David T