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.

At any rate, 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.

My Final Forex Killer Review

Well, it’s not much of a review, rather than a final comment on why this software really isn’t worth your time.  Like I’ve said many times, Forex Killer works just fine, but there are other things out there to help you trade that are much more worth your time and in some instances free of cost to you.

I decided to make this post because I still see a large portion of my visitors searching for Forex Killer in some way shape or form.  Most people ask, Is Forex Killer a Scam?  Well, I do believe Forex Killer does exactly what it says it does.  But perhaps it shifts focus off of a trader’s inherent responsibility to actually learn how to trade, with promises to make you rich simply and without stress.  I’ve come to appreciate a healthy amount of stress while trading, careful to not get too comfortable in any one method, following any one indicator, or any one signal provider. The market is always changing, evolving perhaps, adapting definitely, so what works one day may not work the next.

While it’s not necessary for a forex trader to be “aggressive” in his trading style, I believe just trading with Forex Killer in one’s system is not proactive enough to make “a killing” like the software promises.  The whole idea of cutting and pasting the last X amount of closing prices then calculating which way the trend is can easily be found in a number of different indicators and methods.  Seeing recently what TopGun Software can compute and graphically present, for instance, their one of a kind FX Multimap can instantly show you the strength of a pair or an individual currency vs all other currencies.  Flips of this Multimap from red to green usually indicator a change of direction or resumption of a previous upward trend.  Either way, weakness is disappearing and strength is continuing and this is shown to you in an instant and you did nothing except add this indicator to your chart. Another great thing about Topgun is the recent Narrow Range Breakout Script that intuitively adds lines above and below the levels of important ranges.  Used in concert with flips of FX MultiMaps from green to red or red to green, a successful trade becomes all the more likely.  Forex Killer could NEVER give you such amazingly simple indications of when to enter a trade.  Exiting a trade is just as simple if you just add a trailing chandelier stop.  It’s hard to do much of anything with Forex Killer except identify how likely a trade is to go up, but if you took any sort of Forex education, you’d probably hear at some point that you ought not trade on what you think “might” happen, rather, trade based on what you see is happening.  TopGun has scores of other indicators I am just learning about, so I’ll keep you updated on this software of the next few months.

The only downside to TopGun Software is that it costs approximately $250 per month to pay for E-Signal feeds and the software itself (free if you sign up for FXCM under TopGun as an Introducing Broker Client).

That is just one big “for instance” when looking for alternatives to programs such as FOREX KILLER.  Not much else to say except there is undoubtedly many things better than Forex Killer in the world today.

Forex Online Signals — Signal Provider Review

Came accross another Forex Signal Provider site called Forex Online Signals.   The question remains however, Forex Online Signals, are they just a good promotional program or are there signals effective enough for regular traders like you and me to be profitable?

Forex Online Signals offers a few things that set them apart from the rest.  Most important of these is the fact that you pay only if they give out a signal.  Some days, a signal will not be sent.  This allows (in my opinion) for them not to feel pressured to always be giving out a signal every day (like ForexProIndicator) because, quite frankly, there isn’t a trade every single day, maybe once a week, and this is what I like most about Forex Online Signals.  Moreover, they have a point system rather than you paying for each signal cash, you buy points and use those as you go along.

A few members of the Forex Forum I belong to has long talked about a Forex Signal Provider that would ask for compensation as a trader goes along rather than a huge chunk of money at the beginning of a month and not really leaving we, the traders, with a confident feeling that we will get what we paid for.

So, after reviewing Forex Online Signals, I will give them a thumbs up or down, depending on how it really goes.  I have belonged to Signal Providers before that send out signals that do not result in profitable trades even though their system says it was profitable for them.  Another thing to look out for when trying out Forex Signal providers.

I’ll keep you all posted!  Happy trading.

OZFX System for Forex

Signed up for the OZFX free email alerts, like to see how successful they are.

http://www.ozfx.com.au/subscribe/

http://www.forexfactory.com/showthread.php?p=1800536#post1800536

Forex Killer Signal February 8th

Continuing my coverage of how Forex Killer signals work for me, I wanted to document another Forex Killer Signal success story. Earlier I saw another example of how a pair read SELL in 3 different time frames, except daily had no trade. The last time I had 3 line up I had a winner except for setting too far a profit target by only a few pips. At any rate, this trade last night involved EUR/GBP at exactly 18:30 GMT and ended this morning at about 10:30 GMT.
The specifics of this trade were:
I was trading 1.22 lots which were approx 23.50 per point with a 5 pip spread, No Stop loss No Take Profit, just playing by ear. Net gain 43 pips - 5 pip spread = $890 Profit Thanks To a Forex Killer Signal and nothing else this time.

Unfortunately I did not take not of the exact Forex Killer levels, but I do know they both indicated to SELL for 15, 60, 240 minute time frames and I entered just before it took another step down 20 pips, and down another 20 to where I would have put profit target level anyway because the DiNapoli target was in this area.

I could have rode this one out a little long, it just seemed like it lost steam and might push back up a little more, so I decided to lock in my profits and go. And it appears even two hours after I exited the trade, the price is has broken resistance and on the way back up. So the exit wasn’t premature, for once :D. I believe this trade proves you need to know alot more about Forex than just how to get levels and signals from Forex Killer, simply because, I read the signal correctly, it gave me a profit, but Forex Killer doesn’t tell you when or where to exit, you need to do your own technical analysis. In this trade, I felt it was time to exit simply because the Fib target and Dinapoli Targets had been reached and found support. Why stay in this trade even longer without knowing where it might go, and after volume has dropped off? No reason really, so I got out, and not a moment too soon, if you look at the charts now, we see I would have given back at least 20 pips profit. So what I learned again is that Forex Killer helps find the trend, find which way the market is likely to go, but used by own indicators to determine if Forex Killer should be followed and where to set my exit point. Personally I am happy with this trade because while people go to harpoon that big whale (100+ pips per trade), I like to find 3 or 4 25-50 pip trades, not exactly scalps and not exactly interday trading. If I can use Forex Killer to find more trades like this, $1000 per day profit is all but certain, even with losses.

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