These are our FAPTurbo v56 customized scalper settings for the GBPCHF which we’re confident will perform very well for you over time with an excellent system expectancy. For more on expectation value see the section titled Expectation Value of Your System.
Due to the current unprecedented turmoil in the global markets, especially in Europe, our settings are fairly conservative in order to manage risk which will ultimately lead to more profitability.
Any settings not listed below should be left as the FAP Turbo v56 default value.
|Scalper_MaxSpread||4 for commission based broker with 1 pip commission (4.5 for non commission broker)|
The LotRiskReductor value is the primary source for risk control with these settings. This value will control your position size and essentially the risk you are taking per trade.
Due to the unprecedented turmoil in the global markets, especially in Europe, we’re recommending extra precaution and are recommending starting with at onservative LotRiskReductor value of 5. If you feel confident after sufficient demo and live trading the LotRiskReductor can be increased. However this is only recommended for those who can afford to take the additional risk. Before doing so please be sure you understand how to determine the proper LotRiskReductor values as described with the link below.
The actual risk per trade based on the LotRiskReductor value varies slightly as the currency values fluctuate. If you want to know the exact risk per trade for a given LotRiskReductor value on a given day please see the sections titled Understanding the LotRiskReductor and Scalper Auto Money Management
Normally I would never advocate more than 5% risk on any single trade.
*Only you know your tolerance for risk and therefore only you can decide how much to risk per trade. I always suggest starting with a lower value and increasing it only after you have gained confidence in the system. It is always prudent to understand Position Size and Risk Per Trade.
All scalper strategies, regardless of which robot you are using to trade with, are very sensitive to spreads and good execution. If you’re finding the above settings are not working as well as expected, or you are simply not getting many trades, you may want to consider the broker you are using, the spreads they offer, and how well they are executing your orders.
The broker we use is Gallant Capital Markets with the custom price feed we’ve negotiated with tighter spreads for our members. The specific feed we used to test was the new commission based price feed which offers exceptionally low spreads that scalper style trading systems thrive on.