Forex AutoPilot Update

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Forex AutoPilot - Turbo Update

This Forex AutoPilot update is to help keep you informed about my testing and usage of this trading robot.

If you have visited the Automatic Trading article, you will know that I have purchased the popular Forex AutoPilot Turbo, or FAP Turbo trading robot. The following is my current findings...

Internal Functions

All robots use internal functions to determine which trades to take and some, including FAP Turbo, also use hidden functions to manage stop-loss too. This particular robot seems to use a solid set of indicators, as winning trades widely outnumber losing trades, and the profit target is usually hit quickly.

This robot does use a hard stop-loss order which protects it from downside risk. I think it is important to have a fixed limit you are willing to lose on any trade, so this is an important update in the new Turbo update version of this popular EA.

The Scalper

The FAP Turbo is divided into two different EA's with the first half being the scalper. This function trades certain pairs during quiet market periods and makes smaller, but consistent gains.

The scalper is my favorite part of the FAP Turbo EA. It trades only a few hours each day, yet it can easily double a trading account balance within a month. This part seems to outperform the longterm strategy option.

Long Term Strategy

The second option is the long term startegy, which is a modified version of the original Forex Autopilot EA. The stop loss and take profit programs have been updated to produce more stable results than the original release of the EA.

Manage the Risk

The robot has the ability to ratchet-up the lot size if you set it to do so. This is good in the respect that you can set your acceptable risk level and the EA will adjust the lot size for you.

You will still have trades that don't perform as you hoped they would. Remember, there is no system that will win 100% of the time. If there was, all the NASA scientists would have retired long ago.

Keeping the lot size small helps you keep your emotions in check which means clearer thinking on your part. If you manage your trading properly, eventually you will taste success.

The FAP Turbo trading robot can produce very good results. As with any Forex system, you always need to be aware of the changing landscape and be prepared to take action if necessary.

Wishing you trading success,
David Stevenson.

Click here to visit the Forex AutoPilot Turbo sales site...