During the past few months, the new commercial ea FAP Tubo has risen from the ashes of a former forex expert advisor. I have to say, I am amazed at how well these guys marketing tecniques work. I could not find a single unbiased review on the internet for this expert advisor. Every site I entered had the same "template" review with an affiliate link at the end. Come on ! I try to think that people that want to get into forex trading are not stupid at all.
Of course, their website is like every other super commercial forex product website. It is filled up with "evidence", testimonials, arrows, circles, etc. The things they show you actually seem believable and they have a great tongue for talking about "live testing" and "back testing" and how you should look for live testing and so on.
Well, reality check my friends. I will now try to tell you what the real deal with this expert advisor is and the things that should have made you ran away from their website in the first place. I will assume that everything they show is real evidence and I am going to ellaborate from there.
First things first, it is not difficult to make money in the forex market, even on a live account, in time periods as short as the ones shown by the fap turbo website. For the sake of clarity, any scalping expert advisor with a wide stop loss or a martingale system that trades frequently can and does show amazing profits in time periods as short as the ones shown in their live accounts. The catch ? Keeping those profits is an entirely different story, these type of systems are doomed to eventually wipe out there accounts. This is a statistical fact, not something I am making up right now.
Second thing, why would the fap turbo team not give investor access to their live and demo accounts ? My best guess is that they would not like you looking at the exact way in which this ea actually trades. How does it trade ? Well, it has two systems, a scalping system and a "long term" system for the EUR/USD.
Now it is time for a big laugh, the scalping system uses a 500 pip stop loss. This means that your win to lose ratio is awfuly bad. Losing a few trades is enough for wiping several dozens of winners. Of course, it could in fact win 95% of the time, which does not mean it is profitable at all if on the 5% of trades it loses, it wipes the account. This of course, cannot be seen in backtesting which often favors scalpers because of one minute interpolation errors. Their other system is quiet similar to the one I discussed when I revied forex autopilot, so feel free to look at that post.
Well, I cannot say that the fap turbo people are dishonest or that they are aware of their systems possible flaws. What I am saying is that I would never ever buy this piece of software as it is clear for me (in my humble opinion) from the beginning that it is doomed to lose because of its trading methods. I think that their website shows a very clever selective display of information which clearly shows people what they want to see, how they want to see it. If they were ever serious about the profitability of their product, they would provide investor account information and not try to sell it before a year of live testing.
On another note, there are cases in a few forums were people are finding out the real way in which this ea trades and the truth about its risk to reward ratios, please google this forums and look at other peoples experiences before deciding to buy a product of a marketing website. Now, if you would like to learn about more free and commercial expert advisors I have tested and reviewed please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
Of course, their website is like every other super commercial forex product website. It is filled up with "evidence", testimonials, arrows, circles, etc. The things they show you actually seem believable and they have a great tongue for talking about "live testing" and "back testing" and how you should look for live testing and so on.
Well, reality check my friends. I will now try to tell you what the real deal with this expert advisor is and the things that should have made you ran away from their website in the first place. I will assume that everything they show is real evidence and I am going to ellaborate from there.
First things first, it is not difficult to make money in the forex market, even on a live account, in time periods as short as the ones shown by the fap turbo website. For the sake of clarity, any scalping expert advisor with a wide stop loss or a martingale system that trades frequently can and does show amazing profits in time periods as short as the ones shown in their live accounts. The catch ? Keeping those profits is an entirely different story, these type of systems are doomed to eventually wipe out there accounts. This is a statistical fact, not something I am making up right now.
Second thing, why would the fap turbo team not give investor access to their live and demo accounts ? My best guess is that they would not like you looking at the exact way in which this ea actually trades. How does it trade ? Well, it has two systems, a scalping system and a "long term" system for the EUR/USD.
Now it is time for a big laugh, the scalping system uses a 500 pip stop loss. This means that your win to lose ratio is awfuly bad. Losing a few trades is enough for wiping several dozens of winners. Of course, it could in fact win 95% of the time, which does not mean it is profitable at all if on the 5% of trades it loses, it wipes the account. This of course, cannot be seen in backtesting which often favors scalpers because of one minute interpolation errors. Their other system is quiet similar to the one I discussed when I revied forex autopilot, so feel free to look at that post.
Well, I cannot say that the fap turbo people are dishonest or that they are aware of their systems possible flaws. What I am saying is that I would never ever buy this piece of software as it is clear for me (in my humble opinion) from the beginning that it is doomed to lose because of its trading methods. I think that their website shows a very clever selective display of information which clearly shows people what they want to see, how they want to see it. If they were ever serious about the profitability of their product, they would provide investor account information and not try to sell it before a year of live testing.
On another note, there are cases in a few forums were people are finding out the real way in which this ea trades and the truth about its risk to reward ratios, please google this forums and look at other peoples experiences before deciding to buy a product of a marketing website. Now, if you would like to learn about more free and commercial expert advisors I have tested and reviewed please consider buying my ebook on automated trading or subscribing to my weekly newsletter to receive updates and check the live and demo accounts I am running with several expert advisors. I hope you enjoyed the article !
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