Using The FAP Turbo Setting Scalper_RelaxHours
There’s a FAP Turbo setting called Scalper_RelaxHours that can be used too help protect you from bad markets to some degree and should be considered as part of your settings arsenal.
Essentially what the Scalper_RelaxHours setting does is allow you to tell FAP Turbo to stop trading for a specified number of hours after you have a bad trade that hits your stop loss. The default value for this settings is 0 which means it will NOT stop placing trades if you happened to have hit your stop loss.
FAP turbo scalper strategy is designed to trade in the off session when the market is more stable than during the normal trading day. This means that FAP Turbo is expecting the chart to move generally in a sideways motion known as a sideways range.
In this motion there are the small ups and downs that the scalper is designed to pick off for easy pips, but every now and then the market does something crazy and the price moves way out of the typical range and hits our stop loss.
When this happens in the off market hours, when FAP Turbo trades, it’s usually caused by some external news event or some other form of external and unexpected influence. Regardless of the cause, it creates instability in the sideways trading range and is a dangerous place for FAP Turbo to be trading.
By using the Scalper_RelaxHours setting we can tell FAP Turbo to wait a couples hours before placing the next trade to give the market a chance to settle down before you let it trade again.
Remember though that because the trading period is usually only about 4 hours at most (depending on how you have your startworkhour and endworkhour settings set) if you set the Scalper_RelaxHours to 3 or 4 hours you are essentially telling it to stop trading that pair for the rest of that day if it happened to hit your stop loss … and that is often a very good idea because if the market is volatile there is no reason to jump right back in after hitting your stops.