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

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