FAP Turbo’s End Of Week Results – 11th Sept 09
24 FAP Turbo trades for a profit of 88.1 pips ( £190.06 ).
If you are unsure about anything I talk about here, I may just be on live chat right now to answer any questions you might have. If you prefer you can email me via my contact page.
We’ve had a nice come back after last week. FAP Turbo hasn’t quite made back the money yet (£25 short) but my other EA’s have complimented my trading nicely (see my advisor discount page).
It’s fair to say that the variable spreads have put a strain on FAP Turbo’s performance but with the right settings FAPT can still work for you.
Almost smack on 21:00 GMT the USDCAD spread goes to around 8 and from there can fluctuate up to 15 and down to around 5. Recently the USDCAD has reached its overbought/oversold areas around or after 21:00 GMT. For those of us trading before this period we can often see our trades go against us for quite some time. As of late all trades have come good. What I recommend, if you have the time, is to study the USDCAD pair around 19:00 GMT. You can generally work out the direction it will go in if you know how to read a Stochastic. Bare in mind you want to see a good confident pin bar to help you define the direction. Also keep an eye on the EURUSD, this pair can help you understand the direction in which the USDCAD will go. The markets at this time can still move so I don’t recommend turning on the EA at this time, I would wait until you see some movement in the direction you want. This way you won’t necessarily get in on the direction traveling but on the next leg down/up. Turning the EA on should be down no earlier than 20:00 GMT.
I hope this makes some sense to some of you. Take a look at the markets Monday through Thursday and make your own minds up. Disagree with me if you wish!
Have a good weekend.
p.s.I recently added an Amazon Store (right column), for all your Forex needs. If you’re interest in learning Forex from a book rather than the internet this is a good place to start.
Hi,
What is the GMT offset for alpari now?
is it still 2?
Yes
wow, so you modify the USDCAD pair starting time again? What’s your settings please? The pair seem very very profitable on ur time setting!
Hi CL,
Yes I’ve been modifying my times manually for the last week. I’ve been watching the pair and at my own discretion turning the EA on. However, the best all round starting time for last week would have been around 21:00 GMT or a little after. Although starting at 20:30 worked out well also for some days. If you can I suggest you watch the markets and turn the EA on at its stochastic lows/highs. That way you can grab an extra low cost trade (spread before 21 GMT is generally no higher than 3.5-4) before it turns.
Fap turbo was installed to trade, but I hav’nt seen ONE
trade as of yet…9/18/2009 been waiting over 24hrs…any
ones FAP turbo been trading for them?
Hi Frederick, have you checked the max spread setting. If your max spread is less than the current spread (spreads can be seen in the FAPT details written on the left of the chart) it won’t open a trade. Also check the journal and expert tabs in MT4 to get an idea why it might not be opening trades.
the installer place my Max at 5..Current IS at 6 on EUR/GBP and USA/CAD …here are the rest of my trading pairs….what are yours?
EUR/CHF and GBP/CHF
Hi Fredrick, please refer to my settings page for trading details. Your max spread looks too low. You have solved your problem.