Hi everyone. I’ve got an update for those of you who have been following my FAP Turbo performance testing story. I finally gave up on InterbankFX as a viable broker to use FapTurbo on. The spreads during the time FapTurbo traders are so often ridiculously high that my account balance pretty much goes nowhere. I’ve ran FapTurbo on a demo $5000 IBFX account since December of last year and all I’ve got to show is a profit of $2844 – not all that impressive. And you want to know the reason for such crappy performance. Here it is:
2009.11.11 17:11:04 Fapturbo47 EURGBPm,M15: Current spread = 0.00100, MaxSpread = 0.00050
2009.11.11 17:04:01 Fapturbo47 EURCHFm,M15: Current spread = 0.00080, MaxSpread = 0.00050
2009.11.11 17:04:01 Fapturbo47 EURCHFm,M15: Trade signal is missed due to invalid high spread.
My MT4 “Expert” tab is filled with such messages. I’ve had it! I’ve decided to ditch IBFX and go for an ECN broker with super low spreads. The broker I chose to go with is called MB Trading and since they recently started offering the MetaTrader 4 platform I figured it would be a good alternative.
I’ve heard that ATC brokers is another good broker to use, but they have a pretty high (for me at least) minmum opening account balance compared to MB Trading. Thus if I wanted to trade FapTurbo with live money I’d more than likely go for MB Trading, hence my decision to demo test FapTurbo with them.
However I still have in mind to demo test FapTurbo on ATC Brokers as well. The reason being that even with MB Trading I get “spread too high” errors, so this way at least I’ll find out which is the better broker to use with FapTurbo.
What really ticks me off about MB Trading is that FapTurbo misses a trade by such a narrow spread.
2009.11.11 16:59:24 FapTurbo49 GBPCHF,M15: Current spread = 0.00065, MaxSpread = 0.00060
*For your info V49 is the latest FapTurbo version – see this post for details*
It’s almost as if they somehow knew I was running FapTurbo and deliberately raise the spread by that tiny amount to prevent it from trading. Hmm, I dunno, maybe that’s just my paranoia talking.
Ok, well that does it for my rant. If you want to share your FapTurbo trading experience/settings or just want to rant on just like me, I invite you to join me at the Forex Autopilot Forum:
http://www.forexautopilotforum.com
See you there!
Cheers,
Alan
FAP Turbo. well you’re gonna need a broker that will allow you to trade on mt4. the usa drove so much business out of the country with those new laws. what a shame
hi.. I am here put you article..and your link is already in my blog.pleace add me master..
thanks
Interesting.
Do let us know ur trading result at MBT as best daily basic.
Chaca..I see you took my entire blog posting and copied it to your blog! lol…add you to?
I will Lancez…on a daily basis may be a bit too much, but I will try at least on a bi-weekly basis. So far my account is in profit a modest $28…and I’ve had more trades in a week than in 3 with IBFX…see what difference low spread can make!
Why don’t you put the stat live using mt4live?
Actually I was thinking of doing that very thing!
Update: My account is up $113 so far…
Nice,
good Feedback to FapTubro, i use only Metatrader 4.
You have a bug in the comment function:”Would you like to subscribe to my blog?” Box??!?
It’s not really a bug, it’s just checkmarked by default. Remove the checkmark if you do not wish to subscribe.
Ah, ok many thanks for the explanation.
No problem. Thanks for visiting my blog!
So how its going on?
Sigh…so far not too good. My account is a few dollars below the $10,000 starting balance. I’ll post a performance update sometime after the holiday season.
Alan,
you should send me an email please, I believe something “bigger” is going on with the problem you identified: ‘It’s almost as if they somehow knew I was running FapTurbo and deliberately raise the spread by that tiny amount to prevent it from trading. Hmm, I dunno, maybe that’s just my paranoia talking.’ With a broker a lot of people use I have logged hundreds of these “errors”, and it MOVES based on whatever I put in as the MaxSpread. Email me for more on this…i think that your paranoia is real!
Hmm…interesting. I’m gonna fire off an e-mail in a few minutes.
im late, but its still intresting i gotta say