Is FAP Turbo making money?

I have been reviewing the FAP Turbo Expert Advisor (EA) since Jan 5th 2009 on a live account with £500 as startup capital. This article looks at whether this EA makes any money.

For those of you who don't know what FAP Turbo is, it's a Metatrader 4 forex EA robot. You simply drop it onto selected 15 minute charts and leave it to do its business.

Now, the real reason you're reading this article is that you've probably heard about this product and want to know whether it's making any money? It's a good question.

To cut to the chase, I had a large draw down this week. It happened on Monday 19th Jan using the EURGBP currency pair. It happened to a number of people, across different brokers. The draw down cleared out my last 2 weeks profit and more.

Questions were raised in the forum about the EA's loss prevention features and how was it possible that such a hit could happen.

So again the big question, Is FAP Turbo making money?

Well I'm currently down, but without sounding like someone who is trying to endorse this product I have to say yes. I believe that FAP Turbo is making money. Now, the reason I say this is because, funnily enough the EA has been performing very well, especially on the EURGBP currency pair right up until that Monday and beyond. So I have to look outside the box for other answers besides the obvious blaming of the EA.

Monday 19th Jan 2009 saw the EURGBP go bonkers. The reason for this was that the UK banking sector crashed again and it caused the GBP to become rather volatile. This volatility for some reason affected the EA more than usual.

What I learnt from this draw down, was to make sure you always check the market sentiment for the day, keep your risk at a level you can manage and hope above all that you don't get more days like Monday 19th Jan. If you know in advance that something is up in the market, lower your risk and ride it out or just turn the EA off.

I have been trading a live account using FAP Turbo since Jan 5th 2009. I am therefore in a position to give you an honest account of this hyped up EA. I started with capital of £500 and with relatively conservative settings managed to make about £140 before the dreaded day described above. Frankly that is not too bad. Lets just hope this large draw down was a one off.

In this article I have discussed whether the EA makes money or not and have indicated that the EA has true potential. I hope this article has been useful. Keep your eyes open for my future articles as i take you for a ride through the FAP Turbo experience.

Good luck and happy trading!