Robot: FAP Turbo
Developed by: Steve Carletti
Trading Style: Scalping Forex (Asian Session)
Platforms: MT4 / MT5
NFA Compliance: Yes
Cost: 149 USD (2 licenses and lifetime updates)
FAP Turbo Review
FAP Turbo is a Forex Scalping Robot running on MetaTrader4 and MetaTrader5. FAP comes from Forex-Auto-Pilot and it is designed to trade any Market Conditions. The new version 2.0 of the Forex Robot includes Bitcoin Trading plus High-Spread Advanced Control.
How does the FAP Turbo Forex Robot Works?
FAP Turbo may trade any account size (minimum $50), but it is recommended a minimum account size of $250. The Forex robot offers a great variety of trading parameters (including money management risk) to fit the different needs of every trader. Find all parameters at the end of this FAP Turbo review.
The new version 2.0 of the Forex Robot includes also the Bitcoin Indicator. Bitcoin currency is a world known for its high daily fluctuations and that creates opportunities for trading.
A VPS service (Virtual Private Server) may be used so that the robot will be able to trade 24 hours per day. FAP Turbo recommends a certain VPS service that costs about $70 per month. But using the Google search, traders will be able to find cheaper VPS services, for about $30-$40 per month.
FAP Turbo Strategy
FAP Turbo is using an expert advisor which is designed to choose when to trade and when to avoid trading on an auto-pilot basis. The FAP Turbo is designed to scalp Forex during the Asian session. Mainly it aims for profits between +5 and +15 pips. Additionally and only as concerns EURUSD, the robot implies an M1 timeframe strategy called “Long-Term Strategy”.
These are the pairs that FAP Turbo is focusing on:
EUR/USD | EUR/CHF | EUR/GBP | GBP/CHF | USD/CAD
According to the developers of the robot, the performance of the system is maximized when trading EUR/CHF and EUR/GBP.
Trading Time Frame
The robot is trading mainly the M15 timeframe, but the “Long-Term Strategy” is using the M1 Time Frame.
FAP Turbo Past Performance
According to the FAP Turbo Developers, here is the back-test for the past 11 years of trading.
10,607% Total Profits
FAP Turbo Basic Settings
These are the basic settings of FAP Turbo divided into the two available strategies (FAP Short-Term and FAP Long-Term Trading Strategies)
(1) Short Term Scalper Parameter Settings
□ UseScalperStrategy = TRUE / FALSE
This parameter activates the short-term scalping strategy (TRUE). When you want to imply the Long-Term FAP strategy then this parameter must be set to FALSE.
□ Scalper_UseMM = TRUE / FALSE
This parameter is used to define manually the Scalping Strategy's Lot Size. For accounts holding less than 2,000 USD set Lot=0.1 and for accounts holding less than 5,000 USD set Lot=0.5
□ Scalper_UseMM = TRUE / FALSE
This is the Money Management parameter. If TRUE then the auto money management is activated.
The LotRiskReductor defines the maximum level of account margin used for each trade. For example, if LotRiskReductor=10 then the system will risk a maximum of 10% of the account's available margin for the next trades.
□ Scalper_GMTOffset= TRUE / FALSE
If set to TRUE, allows adjustment of the time zone. But when you are backtesting the system you must first set the value to FALSE.
□ Max Spread=x
Set the maximum allowed spread that you are willing to pay when you are using the Forex Robot.
□ Scalper_Stealth Mode= TRUE / FALSE
If TRUE enables stealth Forex trading. FAP Turbo opens fake take-profit and stop-loss orders to avoid being identified by your broker as a scalping machine.
□ Scalper_TradeMonday= TRUE / FALSE
Choose either to trade too on Mondays (TRUE) or not (FALSE).
This parameter sets the maximum amount of trades that can be opened daily. If value=2, then the Forex Robot can open a maximum of 2 positions per day.
Slippage is a parameter to avoid off-quotes by your broker. The default value is 2 pips.
(2) Long-Term FAP Strategy Parameters
□ UseScalperStrategy = = TRUE / FALSE
To activate the long-term strategy set FALSE.
For accounts holding less than 2,000 USD set Lot=0.1 and for accounts holding less than 5,000 USD set Lot=0.5. If the parameter is set to FapTurbo_Lots = 0 then auto money management is activated.
This parameter defines the maximum number of trading orders that may be opened at the same time.
Using this parameter traders may set the maximum lot size of their trades.
Set to receive sound notifications when new trades are executed by the FAP Turbo.
Set to receive email notifications when new trades are opened or closed by the FAP Turbo.
FAP Turbo Review Key Points
1) Easy to Install via Wizard Installations (an extensive manual is included also)
2) Low Startup Amount (Trade with as low as 50 USD) but no Size Limit when you trade. You can use also the robot in a demo account before trading it for real money.
3) Trading 24/5 (Monday to Friday) and Trading Any Market Conditions
4) A great variety of settings including Money Management and Stealth Mode in order not to be tracked by Forex Brokers
5) Scalping the Asian Session (EUR/USD, EUR/CHF, EUR/GBP, GBP/CHF, USD/CAD) and also the Bitcoin Currency
6) Implies two Forex Strategies (one for scalping and the long-strategy to trade exclusively EURUSD)
7) Two (2) Real-Account Licenses and NFA Compliant (US Residents)
8) 24/5 Phone Support plus Members Area
How much does FAP Turbo 2 Cost?
The FAP Turbo Package consists of an ex4 and a DLL file plus an extensive manual that offers brief information about how to install and how the system works. As a gift, you get the Bitcoin Signals Indicator.
FAP Turbo costs 149 USD (2 licenses) and in that price is included the option for free future updates. As a gift, you get also the Bitcoin Signals Indicator. The system is NFA Compliant (US Traders) as long as the long-term strategy is turned off. It seems that this robot is rather popular and has sold tens of thousands of copies during the past decade.
■ FAP Turbo Review
L MORE on FXPROS.NET
|□ Broker Ratings
|□ Expert Advisors
|□ Forex Brokers
|► Getting Started with Forex
|► Getting Started with Trading Systems
|► How to Choose a Forex Broker
|► Getting Started with Algorithmic Trading
|► Identifying the Forex Trend
|► Overlays and Indicators
• TRADE SYSTEMS
|► Forex Trendy
|► 1000pip Climber
|► EA Builder