NOTE: We no longer trade FAPTurbo on our real cash accounts and we do not recommend it. Forex Crescendo is now our top robot that we are using on our large account. We terminated using FAPTurbo before we experienced any severe drawdown, but the trading became so volatile that most people did not trust it anymore. This post has been left as reference material only.
Fap Turbo settings do confuse lots of people. Open the Expert Advisors Properties window and immediately line item after line item appear just begging you to tweak this or that to surely improve performance on your own somehow over the defaults provided that were tested, backtested and forward tested etc…by the programmers.
DON’T.
Well, don’t without serious guidance at least.
We intend to become a place where you can come to find that guidance either from us or from another trader.
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Today we’ll look over Fap Turbo settings for the EUR/USD pair, which FapTurbo considers a longer term trade and not a scalp so the UseScalperStrategy mode needs to be set to false by doubleclicking ‘true’ on the far right of UseScalperStrategy and replacing it with ‘false’. Not shown below is my choice of MaxSpread which I use as 7 for EUR/USD. The default was 6 pips. It represents the widest bid/ask spread FapTurbo will allow before passing on an entry.
Default Settings New Tweaked Settings
on a 1 minute chart on a 5 minute chart
The settings on the left are the default settings from FapTurbo v50 and on the right, the tweaked settings.
The default says use the 1 min chart while the tweaked version recommends running on a 5 minute. (Scalper mode wants a 15 minute).
The Expert Guide says that the Long Term Strategy “requires a large amount of capital. Trade long term strategy with 0.1 standard lots for capital $10K or above. Do not use long term strategy for small deposits.”
It appears that the tweaked version on the right attempts to mitigate much of that risk for small deposits, I believe, except that it is impossible to be triggered!!
Instead, I am suggesting re-setting the FapTurbo_Trailing Stop to 0 (disabling it), and dropping the FapTurbo_Stop to 30 pips from 500. I will explain why in my next post here when I go through the 3 trades my system made on EUR/USD within the first 18 minutes of Sunday night’s open. The FapTurbo_TakeProfit could be set between the 20 pips presented in the guide to as high as about 40 pips. For the EURO, 40 pip runs are not unusual.
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In the coming weeks, I will be posting the results to test it. The site is not guaranteeing any promised success, but a 30 pip hard stoploss set on the 5 minute is considerably safer than the default 500 pip hard stop used for the 1 minute default—especially when the profit target is only looking to 20 pips.
Comparing the rest of the settings, lets start at the top of the list I have copied, cut and pasted.
FapTurbo_Lots set to 0 as on the right turns on Auto Money Management as opposed to Manual Money Management.
(Which raises a question. If these guys are so smart, then how come nobody ever realized that to new users looking at the Scalper_UseMM line item that MM=true is more likely to represent to them an abreviation saying that MANUAL Money Management is on rather than that AUTO Money Management is on. Shouldn’t that have been AMM???)
FapTurbo_LotsRiskReductor set to 2 so that no more than 2% of the remaining unused margin opens a position. (Do not misinterpret this as the max % potential loss on the trade). This line item is only looked at by the program if Auto Money Management is used. The adjustments on the 5 minute chart should generate more EUR/USD trades and with the likelihood of more trades running in ScalperStrategy with other pairs, Auto Money Management is a necessity.
FapTurbo_MaxOrders at 2 allows hedging, and at 1 does not. Essentially hedging allows a long and a short entry on the same symbol to be running simultaneously. Since May 15 of last year, the NFA has prohibited it, but that depends on who your broker is and if he is NFA registered or not. You need to ask your broker.
FapTurbo_TakeProfit tweaked to 20 pips, down from the 140 pips default. This single change will guarantee more trades and more opportunity since winners will close sooner before they can reverse without ever hitting the 140 pip profit.
FapTurbo_StopLoss this remained at 500 pips since the next entry—Trailing Stop– was intended to cut in first.
FapTurbo_TrailingStop was 0 so it wasn’t used in the default, but now resetting it at 30 pips.
FapTurbo_AlterPositions also turns hedging on at 1 and off at 0. It will also make the MaxOrders setting match if it already did not.
FapTurbo_TradeNFP is turned off with 0. To quote the FapTurbo Expert Guide by Rob Casey, “We’ve turned off trading on Non Farm Payroll days because this is news driven and does not fit with basic trend following strategy. Although the FAP Turbo product guide recommends against trading this way for some reason they have left it turned on in the defaults.” The NFP report is released at 8:30 AM EST on the first Friday each month.
In fact, for all of our tweaked parameters just discussed (including the issue with Trailing Stops), we credit the FapTurbo Expert Guide by Rob Casey… Rob is constantly testing new settings and sending them out to his subscribers.
In the coming weeks besides the ongoing 5 min EUR/USD results, I am considering running my legitimate FapTurbo program against a FapTurbo warez pirated copy using a broker demo should I decide to download a warez for a test using identical settings.
I just do not want to be legitimizing FapTurbo pirating or any FapTurbo torrent.
I also will be writing about FapTurbo brokers, and maybe FapTurbo installation as well as finishing the Settings by looking at the ScalperStrategy input fields.
{ 3 comments… read them below or add one }
Hi,
That Trailing Stop of 30 is useless with a TP of 20.
A Trailing stop will move once you’re in profit by that amount of pips i.e. if you move 30 pips into profit, the stop will mvoe to breakeven. And then trail….
So, with a TP of 20 you’re negating the trailing stop functionality altogether, which means you’re massively exposed with a stop loss of 500!
Hi,
It is useful info.
Regards,
Sat
If the you are not trading on a Friday will it make a difference whether the FapTurbo_TradeNFP is set to 0 or not since as you say it comes out on the first Friday of the month.