FAPS TURBO REVIEW

Does Forex AutoPilot Turbo Really Work?

This question has haunted me ever since I first heard of Forex AutoPilot, does FAPS really work or is FAPS just another elaborate marketing scheme set up by people who know more about selling products than trading Forex? I had come to learn that making an Expert Advisor was not very difficult. You can actually open up and edit EA’s to see how these EA’s are made exactly. Based on this revelation, I then thought it would be quite easy to “hype up” this EA you had just created touting its amazing abilities and prove it by showing you backtests. But does FAPS work with real money? Does it trade effectively on auto pilot with real money in a broker, trading live? It’s a question I can now help everyone answer, because I have just become the owner of Forex Auto Pilot Turbo. FAPS, the predecessor to FAPS Turbo is available for free almost anywhere you look, Torrents, Rapidshares, Many file downloading sites… but FAPS Turbo I actually had to buy because its available nowhere for free.

I forget where I first heard of FAPS Turbo but I truly have been interested ever since that moment in testing out the amzingly profitable Forex Bot myself. There have been oh so many sites “reviewing” FAPS Turbo but what is their motivation for doing so? I can tell you, I just want to see if it works half as well as “people” say it do.

Right out of the box I added the EX4 to EURUSD, EURJPY, GBPUSD, and AUDUSD charts and will let this run on a $1,000,000 Demo Forex account at FXDD. I will be testing out Faps Turbo on two EURUSD charts, once with the default settings of 500pip stop loss and a slight modification of 100 Pips Take Profit level.

The second setting I will FAPS Turbo with a setting of 50Pips Take Profit and 50Pips stop loss and a 20pip trailing stop. Part of me just cringes at any system “needing” a 500Pip stop loss for any reason, unless you have millions covering your account, I just don’t see how its plausible. Maybe one can correct me on this. I believe the default settings for FAPS Turbo needs to include a trailing stop. With other bots and EA’s I’ve experienced amzingly high winning trades only to see the same trades result in losses because there was no trailing stop employed in the settings. Alternatively you can add your own trailing stop by right clicking on a chart in MT4 and selecting the trailing stop you’d like to set.

I hope to return some good news to you all by tomorrow evening about Forex Auto Pilot being an awesome forex system. I do fret, however, that the FAPS Turbo bot will be another smelling pile of poo. Not to be too judgemental, but the only people I see giving it good reviews are those who have a vested interest in seeing a positive light be cast upon the bot. These people namely being other clickbank members (beside myself) who are earning $50 for referring you to them. Hell, I won’t turn down free money and would also refer you to FAPS Turbo, ONLY IF IT WORKS FOR ME. I give you this much.

Trading with High Leverage Warning

Forex News: Forex On Margin (Forbes)

Very interesting article I thought I should share with you all about Forex Brokers and Leverage.  Basically the entire gist of the article from Forbes alludes to the idea you shouldn’t be bedazzled by offers of high max leverage in forex trading. Consequently High Leverage benefits your broker more than you.  Always remember that your broker makes money even if you do not.  

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Huge PipBoxer Discount — Only 2 days left

PIPBOXER + GRIDBOXER ONLY $999

This is the best deal I’ve seen come accross from the folks over at Investtech, makers of Pip Boxer and Grid Boxer EA’s for Mt4. These EA’s help identify logical ranges based on statistical volatility.  You can buy these EA’s for one currency at a time, OR, buy the complete package.  Well, until March 15, 2009, you can receive the entire package of both GridBoxer and PipBoxer at 63% off the original price.

There was a time I just could not afford this package let alone a multitude of these EA’s individually.  Now, I can totally afford this, since I made at least 380 pips this month alone, I can afford purchasing Pip Boxer and making even more pips on AUTO PILOT!   It’s sad that the sale ends March 15, so get your copy TODAY before it’s too late.
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Forex Trade: EURAUD 300 Pips in 3 hours

Want to show you all a great trade from last week on the EURAUD which shot up over 300 pips in 3 hours. Forex has its ups and downs, sideways movements, stale markets… well, not with this pair on Friday. I’ll point your attention to the ever-useful Rainbow MMA Crossover template as seen on this FXDD Meta Trader 4 chart. At around 7:50 GMT the pair crosses over from a downward trend, to an upward moving trend as evident with the “flipping of the rainbow.” If you are trading just that indicator alone, you would have made anywhere from 250-300 pips in a few hours, exiting near any one of the resistance points, motnhly daily, or even fibonacci target lines.

I did not enter this trade, merely watched it fly into the statosphere, kicking myself after each resumption of the upward trend after each pullback occured. Darn, maybe next time I should have a little more confidence with this pair, even though my spread is 6 pips.

Non Farm Payrolls – The King Of All Forex Events (TradingMarkets.com via Yahoo! Finance)

Forex News: Non Farm Payrolls – The King Of All Forex Events (TradingMarkets.com via Yahoo! Finance)

Well, it looks like Non Farm Payroll jobs lost another 800k jobs last month, raising the unemployment rate to over 8% for the first time since the 1980′s.  I This downward spiral of uncertainty led way to a massive USD selloff after the announcement, only to be followed by a massive GBP selloff a few hours later.  I just watched the GBP/USD drop like a rock over 200 pips in an hour.  Something out there really has got traders startled, the sideways action for most of the day really has a lot of traders sitting out the sidelines until confirmation is more apparant.

Hopefully Obama can get more jobs in the hands of Americans posthaste.