Fap Turbo

[TheBigMan 10]

Does anyone use automated software to trade Forex, I have been reading about many automated programs with grandiose performance being promised. I have come across about six. However, very little is being written from objective people about results.

[StevenSJC 10]

Yes, I have used these -- quite a few I have tried. I kinda knew better intellectually but had to prove it out myself.

 

I can tell you I've never had success -- and certainly not even close to what is advertised.

 

With Fap I actually found it worked ok for a while but seems like the brokers sniffed it out once they must have sold thousands of them and they basically "broke" the strategies effectiveness. I'd say in my experience they were the closest to actually working and they just way oversold it. Not sure about newer version.

 

In general, there is a group of developers/marketers who keep cranking stuff out under different names - always with super slick websites - it's an arms race.

 

I would suggest you instead look for trading strategies where you know the rules - the "why" it's taking the trade and ones that rely on at least some small portion of subjectivity and trading skill. Those are much more likely to have a chance of working for you.

 

Then, use automation how it should be intended, to help you manage these type of trades - maybe moving stops or locking in profit, etc...

 

Just don't expect your computer to turn into a cash machine no matter what the ads say

[TheBigMan 10]

Yes, I have used these -- quite a few I have tried. I kinda knew better intellectually but had to prove it out myself.

 

I can tell you I've never had success -- and certainly not even close to what is advertised.

 

With Fap I actually found it worked ok for a while but seems like the brokers sniffed it out once they must have sold thousands of them and they basically "broke" the strategies effectiveness. I'd say in my experience they were the closest to actually working and they just way oversold it. Not sure about newer version.

 

In general, there is a group of developers/marketers who keep cranking stuff out under different names - always with super slick websites - it's an arms race.

 

I would suggest you instead look for trading strategies where you know the rules - the "why" it's taking the trade and ones that rely on at least some small portion of subjectivity and trading skill. Those are much more likely to have a chance of working for you.

 

Then, use automation how it should be intended, to help you manage these type of trades - maybe moving stops or locking in profit, etc...

 

Just don't expect your computer to turn into a cash machine no matter what the ads say

 

I did hear that but also some folks said it was the setting which needed readjusting along with the currency pairs you chose. Those two things had a great impact on your outcome.

[zupcon 10]

I did hear that but also some folks said it was the setting which needed readjusting along with the currency pairs you chose. Those two things had a great impact on your outcome.

 

If you want to make some money, its generally a good idea to ignore most of what other people say !

[TheBigMan 10]

If you want to make some money, its generally a good idea to ignore most of what other people say !

 

Does that include you(Just kidding) But that is also true. Actually as a equity trader I have tunnel vision. price & volume is pretty much just it.

[BlowFish 10]

I did hear that but also some folks said it was the setting which needed readjusting along with the currency pairs you chose. Those two things had a great impact on your outcome.

 

Indeed, to get the fantastic results they publish the systems are usually hugely curve fitted to historical data. There are lots of 'tricks' that the less scrupulous can use to produce fantastical results on historic data sadly things will unravel going forwards.

[TheBigMan 10]

Indeed, to get the fantastic results they publish the systems are usually hugely curve fitted to historical data. There are lots of 'tricks' that the less scrupulous can use to produce fantastical results on historic data sadly things will unravel going forwards.

 

I don't know. I do think that with Forex, successful automated trading is possible with controlled losses..

[BlowFish 10]

I don't know. I do think that with Forex, successful automated trading is possible with controlled losses..

 

Sure it is though you need a robust system and preferably to diversify (that will prevent many a wipe out). Funnily enough simple systems with few variables/parameters tend to be more robust. If it only works with tweaked parameters chances are it is garbage. You need to run it on out of sample data or it will fail going forwards. The only real way of doing this is seeing live results from a real account. You could run tests yourself but you will never know if they optimized on data you are testing against. Take a look at LS Chads video sequence here to see how easy it is to put together profitable systems.......until you run it on out of sample data. I just read Curtis Faiths Turtle book on holidays, good read if you are interested in evaluating systems.