FAP Turbo

Filed Under (EA System) by Casey on 21-01-2009

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I guess it is about time to write about FAP Turbo EA . This EA is placed and activated on my Alpari account. And I must say, it is one of the best performing EA so far for me. I bought FAP Turbo when it launched (26 November 2008). I had two main criteria when buying an EA. One is they show a backtest since 1999 which would probabily show that it should weather any market condition. Secondly there were some forward testing result. Whether it was genuine or not, it should not matter.

On top of that, it is hosted with Clickbank. So safe to say that i have 8 weeks to test it out. Well, it has been 10 weeks already and I must say I am pretty happy with the results.

Results were very good and this would be one of he EA which I will be promoting here. :)

Here is the summary (Click here for my statement ) from the day I bought the EA 26/11/08 till today 21/01/09 about 10 weeks of trial. Had $259 when I started and at present it is about $315 (due to recent stop loss triggered). But at this moment it is a 21.6% return in 10 weeks. Not bad no??

It would have been even better if the I did not have a total stop loss triggered that took out $50bucks off me. If not it would have been over 40% return in a 10 weeks.

But that is how it is… Slowly and surely. I guess it is too early to say if it’s the best. But so far it has been the consistent.

Now a few things to note. In my previous post ‘Not all Broker Are Created Equal ‘ I stated the performances of an EA systems difers from one broker to another. And this is so true with FAP Turbo.

I did two test before they started implementing licences for one EA to one broker. (What a great way to make more money). Anyway.. before they implemented that, I manage to test it out on my other broker Interbank. And result were good but not as good as it is with Alpari. While in my Alpari account FAP made a good number of trades, Interbank account FAP made about a handful of trades, almost a ratio of about 8 to 1.

I wanted to test it out further but before I could that, they ask me to pay for an additional licences if I wanted to it on a second broker account. Will it is unlimited for demo account. Since my Interbank account is live with my other EA, I did not see that it was  a great idea to test FAP on a demo account.

Anyhoo… another thing to note I also wanted to see if it works on the same account using the same currency on different chart. Now the only way for me to do this is to use a different magic number. I believe that is what magic numbers are for. It is to ensure that you trades are easily differentiated by the EA.

Again, it does not take the same trade. If you see my results are the beginning this week, 19/01/09 you will notice EURCHF has two different lot size, 0.02 and 0.01. This is how I differentiate that the two EA on the same currency with two different magic number behaves. And in this sense it is not as consistant as I would hope for.

But……………………… having said that, it is still profitable. While I am not sure how profitable it is on other broker, I do know that it has been profitable for me.

Dumb Dumb

Filed Under (EA System, Journal) by Casey on 14-01-2009

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As I mentioned in my previous post. I made on embarassing error which caused me to lose almost half of my

money in my trading account. No doubt it was small, but still it was significant enough to have made me feel so ashamed until I to stop posting on my blog.

You see, I was using WSS. And within WSS (Winning Solution System) EA there were two other EA which drew a lot of good comments. I can’t remember what the name of the EA was but I did one terrible thing that could not unforgiven, either auto or manual trading.

I did not backtest it before putting it live! Plus I did not learn more about the settings of the EA before putting it live.

It was dumb and dumber sort of way to trade.

This was what f@@@ my account up. Thinking or rather writing about it makes me very upset and angry at myself for doing such a dumb dumb move.

Well,  it was a lesson learned and I have been very careful with the EA I put on the chart. This is what happens when you have 3 different broker and 10s of EA running with more than 30 chart open all together.

Not all Broker Are Created Equal

Filed Under (Journal) by Casey on 12-01-2009

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When it comes to EA, not all broker are created equal.

Why do I say that, I realize that one EA may work very well on one broker while the same EA on another broker would perform very badly.

I think it has something to do with the spread or slippage from one broker to another on the same period of time.

A case to note was EA Shark and EA Griffin. While it make take a trade on FXDD but it will not take a trade on my Interbank account.

Well, this was one of the reason why I gave up on EA Shark and Griffin. Anyway… that will be another story to write about.

I believe that if you are wanting to buy an EA, see what broker that they are using their EA on to show backtesting and forward testing proof. And if you have an account with the same broker than it would not hurt to try.

But if you have a different broker, then I think you really need to think twice.

Most EA composer/author would sell you their EA and affiliate themselves with one ‘Out of the Blues’ broker and start upselling you that broker… While I am all for affiliate don’t you think you should owe it to your customer to sell them the broker which you use your EA to back test and forward test?

Sighh… some people just miss the point on trying to milk more money from your customers.

Anyway, one of the reason I really mess up my account was because of that, some EA are not meant to work on certain broker to produce the kind of profits that one is looking at on an EA.

More about messing up my broker account soon… And one of the mess up is really embarassing… hehe

What a mess!!

Filed Under (Journal) by Casey on 12-01-2009

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Yes.. it has been more than two months since my last post.

I kinda mess up my broker accounts. That is what you get for messing about with two many EAs and how it also mess up my $$$


Anyway, it took me some work but manage to get my feet back on track with only two EA which I am currently testing.

Don Steinitz MTF Forex Robot Trader and FAP Turbo…