FAP Turbo’s End Of Week Results – 28th Aug 09
21 FAP Turbo trades for a profit of 46.1 pips ( £181.08 ).
This week has been fairly frustrating. With my first full week of variable spreads from Alpari UK I can see that my EA’s are having trouble. MegaDroid didn’t even trade once – just a bunch of messages in the MT4 journal complaining about spreads being too high. I felt also, that I had to close out many of my FAP Turbo trades early.
The widening of these spreads as the market moves, makes it difficult in some cases for these EA’s to function. The spreads can rocket 3 – 4 times the old fixed spread. One GBPCHF trade, only needing 10 pips to profit found itself 30 pips in profit but with a spread of around 25 failed to close. These sorts of high spreads don’t stick around for too long, but it can be the difference between making/losing money.
The only way I’m managing to make profits, especially with the USDCAD is to set the Scalper_UseCustomLevels to false. This allows the trade to stay open indefinitely until its full profit is made or stop loss is hit. I’ve been having success with this.
These variable spreads on the other hand can work in your favour as well. Many of the spreads, EURGBP and EURCHF are low – I mean they are often less than 5 (the old fixed spread) during FAPT trading session. So with careful attention I hope to see more trades from these pairs. We’ll just have to wait and see.
I’ve started to forward test new strategies that I won’t talk about now but you may see multiple same currency trades each session in my MT4 stats. All of this will be unveiled if and when it works out.
Instead of trying to find a new broker (what a head ache!) I’m going to attempt to figure out ways to beat these variable spreads. Also I welcome any suggestions for new brokers. Tell me who you are using and whether they are trustworthy etc. In fact any suggestions posted on this thread would be welcomed.
Have a good weekend.
Might want to try an ECN broker like Nord Markets. Have been DEMO testing FapTurbo on the account and seems to work fine.
Alapri(UK) are doing this to stop their customers from taking profits from them.Of course they are not going to tell you this. Stats still look good though. I am sure the dealing desks are envious of this.Keep up the good work with the website.