FAP TURBO 2 REVIEW

FAP TURBO 2 REVIEW SUMMARY

Foreign Exchange Robot: FAP Turbo 2

Software Programmer: Steve Carletti

Scalping: Scalping 8 currencies on the M15 chart and EURUSD on M1 chart

Forex Pairs: EURGBP, EURCHF, EURUSD, GBPUSD, GBPCHF, USDCHF, USDCAD plus Bitcoin Trading

Trading Platform: MetaTrader-4 / MetaTrader-5

License: 2 Real Account License / Unlimited Demo Accounts / Lifetime updates

Pricing: 149 USD

» The FAP Turbo 2 Web

INTRODUCTION TO FAP TURBO 2

The FAP Turbo was initially released in 2008 (FAP means Forex Auto Pilot) and it is considered one of the most successful Forex robots in the history of retail Forex trading. The FAP Turbo 2 which is created by Steve Carletti, is a new and improved version of the Forex robot incorporating many new features. These new features include Bitcoin Trading and focus on minimizing the trader’s capital risk exposure via tools such is the High Spread Protection System, the Build-In Loss Prevention System and the Automatic Risk Scaling.

Here is the historic performance chart (in profits) of FAP Turbo 1

FAP TURBO 2 ALGORITMH

FAP Turbo 2 trades 8 currencies EURGBP, EURCHF, EURUSD, GBPUSD, GBPCHF, USDCHF, USDCAD and Bitcoin Trading on the M15 Timeframe. The best performing Forex pairs according to the programmers have been EURGBP and EURCHF. Note that FAP Turbo mainly targets profits of 10-20 pips and executes 1-5 trades in a daily basis.

The FAP Turbo detects and confirms the master trend by using technical analysis indicators such is William's Percent Rate, Alligator, DeMarker and Fractals.

The robot combines several trading strategies:

(a) The Medium-Term Strategy (MTS)

The Medium-Term Strategy works on EURGPB, EURCHF, GBPCHF, USDCHF, EURUSD, GBPUSD or USDCAD on all timeframes but mainly on M15.

(b) Long Term Advanced FAP strategy

The Long-term strategy works only on EURUSD and uses the M1 timeframe

Both trading strategies can be switched on and off very easily. Each trading strategy uses its own settings (preferred assets and timeframe). Note that you may use all trading strategies at the same time.

» FAP Turbo 2 Web

 

FAP TURBO PARAMETERS

As concerns most parameters in FAP Turbo 2, you will notice that the default value is -1. This value means that the robot will internally choose the best, optimum value for each setting based on which pair it is trading on. Traders are not obligated to modify this value (unless they know what they are doing). The programmers of FAP Turbo recommend to leave the important parameters at their default values of -1.

Here are some important parameters:

(1) STRATEGY SWITCHER

Switch on and off the Short-Term and Long-Term strategies via the UseScalperStrategy parameter in the settings {True = Medium-Term strategy | False = Long-Term strategy}

(2) LOT SIZE

Lots = 0.01 equals $200 of your account balance. For example, 0.05 lots equal $1,000 and 0.2 Lots equal $4,000. Note that these numbers could vary depending on your Forex broker and your account type.

(3) GMT OFFSET

GMT OFFSET is important especially as concerns the Medium-Term strategy. This parameter defines the offset in hours between GMT and your Forex broker server time. The FAP Turbo 2 uses an automated GMT offset tool but when traders use the back-testing process the Manual GMT Offset should be set carefully.

BITCOIN TRADING

FAP Turbo 2 trades Bitcoin. The robot uses several tools to analyze the bitcoin market and that includes ratios, charts, patterns and general market analysis. You can start trading with as little as $500 but the programmers advice for Bitcoin trading starting with $1,000 or more for best results.

FAP TURBO 2 REVIEW PROS

◘ FAP Turbo 2 applies multiple strategies for different timeframes

◘ Fully Automated Forex Software for MetaTrader (Runs as an Auto-Pilot Software)

◘ FAP Turbo 2 includes Bitcoin Trading

◘ Risk Management (High Spread Protection System, Build-In Loss Prevention System, Automatic Risk Scaling)

◘ Easy install supported by Video Tutorials (Member’s Area)

◘ FAP Turbo 2 can be used in two real accounts and unlimited demos

◘ Stealth Mode (The take profit and stop loss values of the robot are not displayed to the broker)

FAP TURBO 2 REVIEW CONS

◘ FAP turbo 2 is a considerably complicated automated forex software and traders should alter any parameters with extreme care

 

FAP TURBO 2 REVIEW CONCLUSIONS

The version 2 of the FAP Turbo includes many tools for minimizing risk such is high-spread control. Although, it is better to avoid trading (switch it off) during days of important news-releases. The robot cots $149 and that price includes two (2) Real Account Licenses, Unlimited Demo Accounts License and free Lifetime updates.

» The FAP Turbo v2

FAP TURBO 2 REVIEW

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MORE REVIEWS: » WALLSTREET FOREX | » GPS FOREX | » FOREX MEGADROID | » FOREX FTM

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