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For those that are considering buying Fap Turbo.. in a newsletter that was sent to their subscribers this morning they mentioned the following:

• FAPTURBO POSSIBLE PRICE INCREASE TO 399 USD
  We are totally overworked and we are thinking about increasing the pricing of Fapturbo to 399 usd.. just to limit the purchases.. please understand we do not want to close anybody out from this opportunity but the price increase to 149 usd did not help .. as people realize how good the robot works once the settings are in place word of mouth drove even more to our site..

I dont know if they are serious about this or not, but I can imagine that this has turned into a support nightmare for them, so keep this possible increase in mind if you are thinking of buying in the near future. Check the latest price here.

Fap Turbo is up and running in my live account and I am happy with the results so far..it’s been rather quiet the last day or so, but it has made some profitable trades and my account has grown with $88, so there is nothing to complain about. I will make a more detailed post about the live account and the settings I’ve used over the weekend. Below is a screenshot of some of the trades that the scalper has performed in the live account so far (with personal information removed).

Click to Enlarge

It has been 2 weeks since I installed Fap Turbo and even though I expected good results, I have to admit that I am blown away by what this robot has achieved so far. In fact, I have decided to stop trading in a demo account and switch over to my newly opened live account today. I will post more details about this once everything is up and running. In the meantime, here is a detailed report of the performance of Fap Turbo over the past 2 weeks.

My $5000 demo account has almost doubled to $9466 over the 2 week test period. A net profit of +1818 pips were achieved, consisting of +1468 pips from the long term strategy and +350 pips from the short term strategy. At first glance the long term strategy of Fap Turbo seems a lot more profitable, but it is important to note that the short term strategy is incredibly safe and has a very high success rate, so it’s a much more conservative strategy. The long term strategy of Fap Turbo has bigger profits, but also bigger drawdowns and ultimately presents more risk. Both strategies have a success rate of roughly 92% so far and there has only been 7 losing trades out of a total of 91.

See the full statement of my demo account below.

There’s been some requests for testing results, so I decided to post the results for week 1 a bit early and then maybe post an update after the end of the week. I installed Fap Turbo on a $5000 demo account on 25 October 2008 and let it trade using the default settings. I enabled auto lot management, but apart from that all other settings were left on the defaults.

Over the past 5 trading days the Fap Turbo robot has made a number of profitable trades using both the short term and long term strategies and the account has grown to $6940. The detailed statement for this account can be seen below. As you can see, there is 1 big losing trade of $598 at 2008.12.01 00:00. This trade was closed as a result of the setting that specifies that all losing trades should be closed at month end. This setting can be disabled, but I’m not sure if this is a good idea yet.

As of yesterday, the long term strategy shows a status of “NO Trade Today”, which means that according to the internal indicators, the market is not safe to trading. This is a good example of how Fap Turbo is different from the original Forex Autopilot.

I have decided to take my testing of Fap Turbo to the next level by opening a live account with InterbankFX. This will take a few days to process, but if all goes well I will be live trading with this system early next week. More detail on this later.

I’ve been using Fap Turbo for only a day and a half now, but so far I am impressed with what I’m seeing. The long term strategy has made some big profits and the $5000 demo account I installed it on is already more than 500 pips in profit for a net profit of over $1000. There are many settings that can be customized inside Fap Turbo, but more detail on this in a later post. See my full review here: http://fxtradingreviews.com/fap-turbo-forex-robot-review/

Fap Turbo was launched today and I must say that I was very excited to get a copy.. a few minutes before the launch time I was already sitting in front of my pc refreshing the Fap Turbo homepage every couple of seconds, afraid that I would somehow be too late.

Well I got my copy and as of 10 minutes ago the Fap Turbo robot is activated on 5 currency pairs in my demo account at Interbank FX. I have spend a couple of hours reading the manuals, watching training videos and checking out all the various settings of the system. So far I am VERY impressed with what I’m seeing.

The Fap Turbo system basically consists of 2 seperate trading strategies - Firstly, a long term strategy that is basically an improved version of Forex Autopilot, but with much more detailed documentation, a fixed stop loss strategy and various other changes that make it more profitable. Secondly, a short term strategy that is something completely new, very profitable and very low risk by the looks of things.

I will try my best to post a detailed review of Fap Turbo over the next day or so, but in the meantime I would definitely recommend that you check it out for yourself, because they are apparently only selling a limited number of copies. I have decided to suspend my testing of Forex Autopilot for now so that I can focus on testing this product for a while.

Click Here to Visit Fap Turbo Now

Is Fap Turbo Just Another Scam?

Click Here to Visit the Fap Turbo Homepage Now

There has been an incredible buzz around the launch of the Fap Turbo Forex trading robot and like many others, I have been caught up in the hype. The question is, am I going to waste my money or will this robot be the real deal ? The reason for all the hype is quite simple: Fap Turbo offers solutions to the problems that are commonly experienced with other Forex trading robots. The common problems with trading robots are:

These are the main reasons why I decided to buy Fap Turbo. I have spent the last few days reading their promotional material, watching their videos and checking out the live accounts that they have on their site and so far haven’t come across anything that raises the alarm bells yet. At the time of this post they have not launched the Fap Turbo yet, but I will be one of the first in line when they do. I dont know if there will be a limit to the number of copies sold, but this time I’m not waiting around to find out. I will post more detail as soon as I have had a chance to see how the product works.

Click Here to Visit the Fap Turbo Homepage Now

During the last week there has been a lot of hype about the release of Fap Turbo, a new Forex trading robot that promises to be the best there ever was. The main reason why there is so much expectation around the release of Fap Turbo is the fact that they use live trading accounts to prove how well their system works.

A very impressive 9 year back testing report is given that shows a success rate of 95%, with a maximal drawdown of only 0.35%, but because of the bad reputation that back testing has in this industry, the creators of Fap Turbo have really gone out of their way to prove that their system works on live accounts of all sizes, trading with real money. The fact that Marcus Leary, the creator of Forex Autopilot was involved in the development of this product tells me that this is not just some poorly written robot that doesnt work, so I’m interested to see how thing develop towards their launch date.

I have read all their pre-launch material and watched all the videos and I have to admit that I am sold already. The product launches sometime over the next week and I am definitely going to jump on it as soon as it becomes available. I will make another post about this closer to their launch.

See the Latest Fap Turbo Pre-Launch Information Here
(Click on the Link at The Bottom to Watch The Live Trading Reports)

During this week I made contact with Dean Saunders, author of the popular 10 Minute Forex Wealth Builder system and he agreed to answer a few of the questions that I had about his product. See his responses below.

• Are the techniques taught in 10 Minute Forex Wealth Builder effective under all market conditions, including the current economic crisis ? In other words - is 10 Minute Forex Wealth Builder a good long term strategy that can withstand the type of volatility we are seeing in the markets today? Answer: Yes it is performing better than ever right now, especially the swing system. Stops have to be larger at the moment but it’s just a case of controlling the risk on each trade by using the correct lot size.
• What are the advantages of using a manual trading system like 10 Minute Forex Wealth Builder over an automated system like Forex Autopilot? Answer: One thing a Trading robot will never get is experience and a feel for the markets. Nothing can substitute real trading experience, it gives you a further edge on your trading system.
  
• Do you still personally trade with the techniques taught in 10 Minute Forex Wealth Builder on a daily basis? Answer: Yes, I have been trading them for many years.
• Besides the 10 Minute Forex Wealth Builder, do you use any other trading systems on a regular basis? Answer: Apart from the 10 Minute Forex Wealth Builder strategy, I also do day trading with my Blade Forex system.
• Lastly, do you have any advice for new Forex traders? Answer: Make sure you demo trade until you are consistent for at least 3 months. Focus on daily time frames and stick to only the best setups.

I did some trades with the 10 Minute Forex Wealth Builder system this week and so far this really looks like a very solid system. I’m only about 20 pips in profit at the moment, but I made some mistakes and really should have been up by at least 150 pips.

I’ve done 2 Breakout trades and 2 Swing trade so far and I have to say that the swing trade is my favourite so far..it occurs lesss often, but it seems to be a very accurate trading technique and the logic behind it makes a lot of sense. The mistakes I’ve made so far have been with my money management - Dean suggests spesific stop loss and take profit values for each currency pair, but I’m already learning that common sense should always prevail.

For example, in a Breakout trade on the USDCHF, I placed my take profit target 100 pips away at 1.2001. The price moved up by 99 pips to 1.2000 and then hit strong resistance, because 1.2000 is a signififcant round number that the USDCHF hasnt broken since 2007. Instead of expecting the price to break through 1.2000 to hit my target at 1.2001, I should have just put my target below 1.2000 at maybe 1.1999, but instead I was later stopped out by my trailing stop and made 50 pips profit instead of 99.

The 10 Minute Forex Wealth Builder system definitely requires a bit of practice before you go live, but after working with it for a week I really have high hopes that this is a very effective part time strategy. Next week I will start posting some trading logs and results for this system.

Read my Full Review of 10 Minute Forex Wealth Builder Here

I have come to the end of my first month of Forex Autopilot testing and I am very happy with the results I’m seeing so far. Week 4 was another good one, with 11 winning trades and 0 losers. After one month of testing the situation looks as follows:

Week 1: +409 pips
Week 2: +100 pips
Week 3: +86 pips
Week 4: +220 pips
Total: +815 pips

Total Trades Executed: 58
Winning Trades: 56
Losing Trades: 2
Success Rate: 96.55%

Some people say that the Forex Autopilot is a scam, simply because it does not use a stop loss and while I agree that not having a stop loss is risky, it is also very hard to ignore the high success rate and for now I’m not going to write off this system just because of that.

I have been tempted to start trading with this system on a $500 mini account, but I think I’m going to test it for another couple of weeks before taking the big step. I first want to learn as much as possible about how this system works and possibly join FAP Winner before I enable this on a live account.

I have also made some trades with the 10 Minute Forex Wealth Builder and Forex Avenger systems, but will post more details about this later this week.