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Description:
Trades the EUR/GBP, EUR/CHF, GBP/CHF and USD/CAD on the M15, aiming for 3-10 pips at a time. Requires a broker with a tight spread during the low-volume times of the day. According to the FAP Turbo forums, the best broker right now appears to be Alpari (UK) and Forex.com.
Scott's Notes (Aug 7th, 2009):
My 2-star rating is based on some of the following experiences:
- I traded it live for 4 months at PFG between January and April and had mixed results. Along with some liquidity issues, I experienced the normal "few big losses and lots of small gains" that most scalpers endure. At the end of 4 months, I had broken even.
- June and July finished with losses. Enough that DonnaForex (a very popular, independent FAP Turbo strategiest) disabled hers. DonnaForex was popular for finding the best and most profitable FAP Turbo settings.
- It requires a low spread during the Asian session and results can EASILY differ from one broker to another, and from one account to another.
- Impossible to test reliably on a demo account (like most scalping robots) since execution quality differs slightly between demo and live accounts.
However, in spite of these, FAP Turbo is still an extremely popular EA and it is this robot that practically "created" the current commercial Expert Advisor market we have today. Two bad months should not completely disqualify any strategy entirely, so I decided on a 2-star optimization level.
All in all, FAP Turbo is not a robot I currently use live but plenty of our members do.
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