FAP Turbo End Of Week Results 29th Jan 10
January 29, 2010
16 FAP Turbo trades for a loss of -73.6 pips (-£160.98).
Good trades on the EURCHF and USDCHF.
Many of you may not have had the losses this week, however my slightly reduced stop loss caught a few high and low spikes. Also to add to my frustration I set up my higher risk USDCAD to start at 20.00 on Wednesday by accident and had two nearly identical trades open and sadly fail.
I’ve a nice tip for the USDCAD pair that has worked for over a year now. If you’re interested drop me an email.
Have a good weekend.
I got 2 losses on USDCAD too.
I’ve been losing more than i profit for USDCAD (on customlevel off mode).
what is your “trick”?
Could i kindly seek for your advice on the lot size? I notice that sometimes your USDCAD lot size is 1.00. The different lot sizes might have been the reason why u’re profitting on the pair. I’m sure it’s a loss if you count the pips.
I’ve emailed you!
Hi CL, I’m taking more of a risk at the moment by trading the 20:00 hour, but I’m trading it with a low lot size. 2 losses this week took place with trades opening in this hour. I don’t trade this on all my accounts.
Also if you have the time I would say that it’s a good idea to set Scalper_UseCustomLevels to true during the first few hours. If the trade has gone against you after this time, set it to false. You may lose the trade anyway but if it turns (more often than not) then you still get the full profit. Summary below:
1. Set Scalper_UseCustomLevels to true
2. If after 2 hours trade is still open set Scalper_UseCustomLevels to false
This way within the first 2 hours you may not reach full profit but the trade will close in profit. This is a safe option if you have time to monitor your trades. Otherwise I recommend leaving the setting set to false.
Good suggestion!
If customlevels were to be disabled without any safety mechanism, then it would be as good as gambling. (well, it would be equivalent to you manually opening a trade in a random direction (during the Asian session) and set the tp and sl to that of the USDCAD’s default).
Oh, btw, is there any chance EURUSD would U-turn at 1.38XX and proceed to 1.6XXX this year? haha.
CL
Hi CL, I’m pretty sure it will happen sometime this year. I believe we’ll see new lows for the USD. So this should see the EURUSD with new highs. It looks far off at the moment with new lows on Friday but I’m certain it will come. We’ll just have to hang in there.
Ive had a large loss in Eur/chf and Us/Chf this week and lost on tues thru thurs overall
my settings are what rob casey’s expert advisors recommends
except lot rr is set to 15 on uschf and uscad is set to 10
did anyone have any suggestions or have similar results?
thx
Hi Dennis, I had a good week with Alpari UK as you can see from my latest post.
I had a poor EURCHF trade last night on a different account, however I had the Scalper_UseCustomLevels set to false by accident and because of that it didn’t manage to scale out. The Scalper_UseCustomLevels setting is always set to true for this pair.
Hello Hank
do you post your settings for the pairs?
also i changed my vps from forex hoster to forex vps, would that have any effect on my results?
Hi Dennis, my settings are posted on my settings page. See navigation bar above.
As long as the VPS didn’t crash it should be OK. All you really rely on is a good internet connection. You may need to check your VPS logs, or even you MT4 journal and gauge whether your copy of MT4 was restarted at a particular time. Down time can obviously cause problems as FAPT simply won’t be able to close out trades.
thanks
is gbp chf and eurgbp not performing well or is it that you dont want to trade more thean three pairs at the same time?
also how do i set my take profits and stop levels to the original default settings if thats what you recommend?
Hi Dennis, I’m not trading these pairs at Alpari UK mainly because their spreads are at times too high and trades just aren’t profitable. So it’s not worth the risk. I do trade these pairs on different low spread accounts. But I use very low risk as I’m not too trusting! That goes for the EURCHF too!
The easiest way to return to default is to drag FAPT back onto the chart as you did when you first applied it and accepting the settings that pop up. Make sure you alter the settings you want to alter first before accepting and that’s it.
thx, sorry to ask all these questions but finally ,
do u recommend having the lrr set to 5 on these pairs and increase gradually with time?
also i assume you keep the default take profits and stop losses on the pairs you trade?
The LRR is up to you. As you know 5 means 5%. So you are trading 5% of your account. It all depends on what you want to make. For instance a lot size of 0.7 with Alpari UK returns me around £40-£45. Of course a loss will incur around £300.
LRR is a personal thing. I’m very accustomed to losses so i don’t mind the risk. But others would die if they had a £300 loss.
Set it to what you are comfortable in losing and the profits will roll in.
See my MT4 stats for choosing the right lot size to gauge my losses vs wins.