Hello everyone. A while back I purchased the FapTurbo forex trading robot and made a few posts with preliminary performance results. After a period of testing I am confident that I have enough performance data to share with you all and to put together a review. As usual this review will be a zero bullshit review with actual forward testing performance results – we don’t need no stinkin backtests!
I am going to write this review keeping in mind forex newbies as well, so my apologies to those of you who are more advanced if some of the items I will discuss will strike you as one of those “whatever, I already know that” type of things.
Alright, so let’s get started with the review!
What is FapTurbo?
FAPTurbo is a forex trading robot (most commonly referred to by traders as an “Expert Advisor” or “EA”) for the popular MetaTrader 4 trading platform. Essentially fapturbo is a program that automatically trades for you – simple enough, no? OK, let’s move on.
Who created FapTurbo and how did it get started?
From my knowledge FapTurbo system was developed and is being maintained by a trio of traders – Mike, Ulrich, and Steve. FapTurbo has it’s roots in another trading system called “Forex Autopilot.” The FapTurbo developers essentially took the Forex Autopilot robot, made numerous improvements and branded the resulting product as FapTurbo. I will get into what improvements FapTurbo brings later on in the review.
Important things you should know about FapTurbo:
1) FapTurbo uses 2 trading strategies, a long term strategy that runs on the EUR/USD pair and a short term strategy (scalper) on 4 other pairs. You can run both strategies on the same account.
2) FapTurbo long term strategy runs on the EUR/USD currency pair on the M1 time frame.
3) FapTurbo scalper runs on: EUR/GBP, EUR/CHF, GBP/CHF & USD/CAD on the M15 time frame.
4) FapTurbo scalper trades during the briefly low volatility night European session (in EST that would be from 4 pm to 9pm roughly) Thus the scalper is not a frequent trader.
5) Both FapTurbo strategies implement special filters to prevent trading in dangerous market conditions.
6) FapTurbo scalper will NOT trade if the spread exceeds its reprogrammed value.
7) Both FapTurbo strategies implement a stealth mechanism that hides the true stop loss and take profit levels from your broker, thus reducing the likelihood of stop loss hunting (yeah I know it’s sad but you’d be surprised how many brokers do this)
8) FapTurbo can be used on an unlimited number of demo accounts but can run live on only ONE account at once. If you decide to switch to a different broker you have to e-mail FapTurbo support with proof that you’ve closed your previous account before they reset your activation key. Please keep this in mind! So choose live brokers wisely!
I think that pretty much covers all the important details. I may have forgotten a few items so I will add items later on if need be.
Now let’s talk performance! I know you skipped directly straight to this section 😉 !
Performance Results:
As I said previously FapTurbo uses two trading strategies, thus there are three possible combinations you can use – scalper strategy alone, long term strategy alone, or scalper & long term strategy running at the same time. In the interest of thoroughness I have tested all three possible combinations. Here they are:
Long term strategy alone (EUR/USD M1):
Using a Lot Risk Reductor setting of 1.0 (1% of account balance – very low risk)
*click the pdf icon to download*
Scalper strategy alone:
With the scalper I am using a Lot Risk Reductor setting of 1.5 (1.5% of account balance)
Both scalper & long term strategy:
Lot Risk Reductor setting for EUR/USD is set at 1.0 and for the scalper pair it’s set to 1.5 for all pairs. Thus I am using very conservative settings (hey it’s my money on the line)
There you have it folks, verifiable third part performance results. As you probably have noticed the scalper had a rough time the last week or so, but in the end it still netted me some nice profit. The long term strategy is also quite profitable but I’d say also more risky because the stop loss it uses is higher when compared to the scalper AND it also opens multiple positions at once. By default the long term strategy has a setting of 5 max open trades but if you want to trade a bit more conservative you can lower this setting. I would not suggest you do this for the reason that having more then one position can act as a protective hedge. FapTurbo long term opens BOTH short and long positions (buy & sell for the newbies) so having it trade with 5+ positions at once not only means more profit in the end but also greater protection from price spikes and strong trends. So like I said I suggest you leave the setting alone unless you really know what you are doing.
As for the scalper, it trades with only one open position per pair. It’s only protection from the market is a filter known as the “MaxHeightFilter” which uses candlestick analysis to dictate whether to open a position. There is also the spread filter I mentioned earlier in this review, but that’s more or less a “common sense” type of filter if you may. The scalper does NOT trade on Friday & Monday (European session time!) as these two days are generally considered “risky” by traders. Thus it leaves NO open trades over the weekend. The long term strategy on the other hand DOES. But you can turn this off if it makes you uncomfortable. The long term strategy also has a NFP (non-farm payroll news release) filter which can be set to either on or off – by default it is on so it WILL trade the NFP release.
Looking at the 3 performance statements you can see that the most profitable combination is using both the long term and short term scalper strategy. Personally I prefer the scalper strategy best because it seems to me the “safest” trading method. If you are going to use both strategies on the same account I HIGHLY recommend you double your starting account balance. Adjust your risk setting (LotRiskReductor) setting accordingly and do NOT exceed 10% of your account.
Ok, let’s move on to the final section section of this review and talk about this forex robot’s pros and cons:
What I like:
1) It’s profitable so far!
2) Easy to use and setup
3) Excellent filters that prevent the robot from trading in risky market conditions
4) Fairly inexpensive considering its profitability level
What I don’t like:
1) FapTurbo support can be slow at times
2) Being limited to only 1 live account per license
3) Expert advisor has an expiration date so you have to download a new copy every month – even if you don’t want to.
As for the support being slow, well, one way that you can get around this is to seek the help of other FapTurbo traders such as myself and others. I’ve put together a forum for all Forex Autopilot and FapTurbo traders and I recommend you come and join us. The forum has over 2000 fapturbo traders already so it’s definitely THE place to discuss all things FapTurbo related. Also the FapTurbo developers post regular updates on the forum as well. The link is:
http://www.forexautopilotforum.com
In conclusion, the FapTurbo expert advisor is a profitable forex robot that does exactly what it claims – make money. However please be realistic about this and don’t expect it to make you a millionaire overnight or to not have any losing trades. The FapTurbo developers so far have been keen on releasing regular updates so as long as they keep at it this product should continue to remain profitable into the foreseeable future.
Having considered all pros and cons carefully I give FapTurbo a rating of 9.0 our of 10.
Rating: 9.0/10
You can get a copy of the FapTurbo forex robot by visiting the link below:
This concludes my FapTurbo review. Thank you for your attention and for visiting my blog. I hope you come back again.
Happy trading!