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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.

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Comment by Andy Borthwick-Clarke
2009-08-13 21:16:24

Hi,

Great videos.

One thing confusing me. I thought Fapturbo was desigend to run on Dukascopy as broker, but you don’t have them as a recomended broker?

Is it best to use one of your recomendations?

Andy Borthwick-Clarke

Comment by Rob Casey
2009-08-14 22:34:01

There are two versions of FAP Turbo. The regular version most people use which is FAP turbo v47. The broker recommendations for this version are listed in the member’s area.

The other version known as FAP Turbo Evolution, which was only a limited release to 2000 people, uses the Dukascopy broker. For this version of FAP Turbo Dukascopy is the only broker it will run on so for Evolution there really is no choice.

cheers,
Rob

 
 
Comment by Petter Stavnem
2009-08-17 12:23:34

Do you use this setting only after a bad trade, or will FapTurbo use this setting all the time when set to other value then default? Do you have to switch it on and off all the time?

Comment by Rob Casey
2009-08-18 16:15:49

This setting will only be in effect after a bad trade where you’ve hit your stop loss. So the idea is to leave it on all the time and then if you hit your stop loss it will take effect. No need to turn on and off.

cheers,
Rob

 
 
Comment by Thomas Lane
2009-08-18 18:55:13

Hi Thomas Lane here, first time here and just about to go live with fap turbo.I guess I want to hear from you guys are you making money with it?

Comment by Tom Abbott
2009-08-22 20:14:16

Oh, yes. I don’t expect FAP Turbo (alone) to make me a rich man … but it is a very reliable tool in my bag of tricks.

 
 
Comment by Michael Boateng
2009-08-19 11:58:18

Hi, I’m new to forex trading and I have 3 EAs.
I’m currently running a demo account with the 3 EAs (FapTurbo, Ivybot, Forex Megadroid).
Can you please let me know how trading with the other EAs will affect Fapturbo and my results.

Thanks,
Mike

 
Comment by arthur walters
2009-08-21 15:20:16

hi i’m new here also, if you put the computer in sleep mode will the robot still work

 
Comment by Giantonio Frigo
2009-08-26 22:50:28

Hi Rob,
We purchased Fapturbo 3 weeks ago, we have been testing on the demo account with different settings. Five day’s ago we set up a live account with FXCBS (we notice that in your recent blog you had concerns about this outfit). On our live account we are using your Low Risk setting and the account is set up with the ECN system. With a $5000.00 deposit in the account the commission charged is $4.00. Is this the going rate?? We are new at this, so we decided to purchase your Fabturbo guide three day’s ago and so far it has been two days of trading and we have not made any money (we actually lost $1.46) The profit rises to around $25 and the robot does not sell (makes us want to sell manually) instead it holds on and by the time it sells it isn’t even enough to cover the commission. What are we doing wrong?

 
Comment by Rob Casey
2009-08-28 10:12:18

Hi Giantonio,

First, thanks for comments.

Second, it’s not really possible to know if anything is wrong after only a two days of trading. You need to give it a week at least. The reason is because live trading is always a little different than demo because of other issues such as slippage and other broker issues which you can read about in the section called “Games Brokers Play”. Performance always fluctuates day to day when trading and two days is not a track record that you can make any sort of judgment with.

Lastly, since I do not trade with FXCBS I have no way to know if there are broker issues at play. At present I’m only trading with the members custom price feed we have arranged with Gallant which seems to be working well.

Anyway, give it at least a week and then see where you’re at.

cheers,
Rob

 
Comment by Rob Casey
2009-08-28 10:17:56

Hi tom,

Thanks for the comments, and I couldn’t agree more with you. That’s why I chose FAP Turbo to write a guide about :)
cheers,
Rob

 
Comment by Rob Casey
2009-08-28 10:22:57

Hi Arthur,

Welcome aboard. I think I recall responding to this question via our support email but for everyone’s benefit … the computer MUST be turned on and FAP Turbo must be running and connected to the internet for it to work. It’s very dangerous to turn off or sleep your computer when you have an open trade because FAP turbo can’t close the trade if it needs to.

If it’s not possible leave your computer on when trading then you can use a VPS server. This may cost you some monthly fees but some of the better brokers will offer you a free VPS account to run your robot if you have a live account with them. We use Gallant with our members custom price feed and it comes with a free VPS service which would normally cost about $70/month for their level of service.

rob

 
Comment by Rob Casey
2009-08-28 10:29:58

The biggest issue when running other robots along side fap turbo is that you need to pay a little more attention to your money management. I recommend using the auto money management with fap turbo if you’re going to run other robots. This way the position size will always be recalculated based on the current free margin in the account and will therefore take into account the fact that another robot has opened a trade and has decreased the available free margin.

The only other issue is that is can sometimes make it a little more work to track the performance stats for a single robot because the account stats will reflect all robots together.

Most active traders do in fact trade more than one robot at a time and it’s a great way to diversify a bit. It’s like building a trading portfolio of different systems.

cheers,
Rob

 

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