FAP Turbo Settings Review. Plus personal configuration.

jtelo
By jtelo February 21, 2009 20:56

FAP Turbo Settings Review. Plus personal configuration.

FAP Turbo works on two methods or strategies:

  • Short Term or Scalper Strategy
  • Long Term Advanced Strategy

These strategies have their own designed timeframe and currencies which means that they were created to work with specific currency pairs and specific time to generate trades. Only one strategy can be used in a FX Market Chart, but the two of these strategies can be used at the same time in the same account, just in a different chart.

The success or failure on both strategies lies in the configuration given to them. Some settings will alter on greater or lesser extent the performance of the robot, and with this, the profits or losses generated. The critical factor that can make FAP Turbo users win or lose lots of money is the Lot Size and the values given to it, this value represents the amount of money used for a trade based on the total actual amount of money in the account. The bigger this value is the bigger the risk becomes.

The better and safest way to know what value to assign to this setting is to try first on a Demo Account with the amount of money that will be used later on the real one. Another way is to use the Autolot parameter, which will automatically set the value that the robot considers best suitable for trading.  Commonly, the value assigned to this setting is around the 0.005-0.05% of the total amount of money in the account.

On the other hand, there are other important settings, not as important as Lot Size, which also affect in a deep way the robot performance, these are more specifics of each strategy and can make an user win as they can make him lose high quantities of money. I will overview these settings by strategy, as they are highly detailed on the FAP Turbo Guide when the robot is purchased.

Short Term Scalper Strategy Settings:

This mode generates around 1 to 5 daily trades when the market is stable. Fridays are days of high volatility, so these days the robot probably won’t generate trades. This strategy can work with EURGBP, EURCHF, GBPCHF and USDCAD currency pairs, with the EURGBP being the most profitable, on M15 timeframe or also called, 15 minutes timeframe.

With this strategy there are some critical parameters which have to be taken care of, these parameters are:

  • GMT Offset: It defines the offset in hours between your GMT and your broker GMT.
  • Scalper_Lots: It defines the lot size.
  • Scalper_UseMM: Turns on/off the autolot calculation.
  • Scalper_LotsRiskReductor: Percent of free margin used to open new order. Can be from 1 to 100. Only used if Scalper_UseMM is on. This defines the percentage of money autolot will calculate to trade. (e.g. if 5000 USD$ is the total money in the account and the Scalper_LotsRiskReductor is set to 10, then the autolot will calculate the 10% of the money to use it in trades).
  • Scalper_MaxLots: It defines the maximum lot size.
  • Scalper_RelaxHours: It defines the number of hours to miss after hitting stop loss.

Long Term Advanced Strategy Settings:

This mode works very well for those who want to take advantage of following global trends in the EURUSD currency pair. This strategy works only with EURUSD currency pair on M1 timeframe. It’s not recommended to use this strategy on small accounts because of the margin drawdown while waiting for trades to complete themselves.

There are also some critical parameters which need to be taken care of in this mode, these are:

  • FapTurbo_Lots: It defines the lot size (if 0 then Autolot is on).
  • FapTurbo_LotsRiskReductor: Percent of free margin used to open new order. Can be from 1 to 100. Used only if FapTurbo_Lots is set to 0.
  • FapTurbo_MaxOrders: It defines the maximum number of opened orders at the same time.
  • FapTurbo_MaxLots: It defines the maximum lot size.
  • FapTurbo_StopTime: It defines the time delay between first and second opened order (if Maxorders=2 or more).
  • FapTurbo_TakeProfit: It defines the take profit in pips
  • FapTurbo_StopLoss: It defines the stop loss in pips.
  • FapTurbo_TrailingStop: It defines the trailing stop value
  • FapTurbo_DurationInHours: It defines the maximum time interval allowed to keep the opened position.
  • FapTurbo_Hedging: This feature prevents users from opening a lot of similar positions in one direction. When activated, the robot will control and balance the number of positions in each direction.
  • FapTurbo_HedgingLotReducer: Opens every new added trade with decreased lot size.

There are other parameters on each strategy that can also be configured, as well as global parameters, but they won’t affect in a notorious way the performance of the robot. So this is more or less, the parameters that users have to be careful with. As said before, try learning what values suit best to your needs by using a Demo Account.

I will post one last thing before finishing this article. The images below are my actual FAP Turbo configuration, this is to give FAP Turbo users a guide or point of comparison in order to help them find the best configuration for their robots.

EURGBP Settings

eurgbp3

EURCHF, GBPCHF and USDCAD Settings

othercur1

FAP Turbo Long Term Settings

longterm1

I hope this review can help most of those who are still fighting with their robots or don’t have a clue on how to configure their robots for its best performance, for those who had questions I hope this helped and I also hope that those who where doubtful whether or not to buy FAP Turbo had made up their minds.

**These settings are intended for education purposes only and carry no guarantee as to how well they will perform for any individual or organization. Historical results may and do differ from actual trading and no guarantee is made as to the performance of this information in future trading activities.**

jtelo
jtelo
By jtelo February 21, 2009 20:56
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