The Forex Noob

I don’t want this to become a FAPTurbo blog but I’m having fun with it and want to share.

I started FAPTurbo this morning, Friday, not advised by the folks who developed it. Friday is a no trade day by default due to the volatility often experienced in the forex market. I changed the setting so I could play.

Here’s what this forex noob has thinks so far.

The web site is cheesy. It reeks of a scam quick buck program site. You know the type, long, many testimonials from people who made tons of money in ten minutes, multiple contact points, a lot of large red headers, t feels like someone yelling “Hey you, come buy this. Give me your money.” This almost turned me away form the product but then I started reading other sites and their reviews.

If you can get by the pitch you’ll find FAPTurbo easy to purchase, easy to download and install. The Instructions are good, again, loaded with sales pitches for VPS but worth the paper you use to print it on.

Running FAPTurbo ie easy. My only disappointment was that it only works with select currency pairs, USDCAD, EURCHF, GBPCHF, GBPUSD, & EURGBP. You can use scalping for these pairs and a long term strategy for only EURUSD. I guess it does not matter where you make your money as long as you make money. My disappointment is more surprise that it works with only select pairs.

So far I’m up a few bucks with FAPTurbo after trading on Friday, a day the FAPTurbo folks advise not trading on due to possible volatility.

It will be fun to see what it can do over an entire week.

I’ve had my expert advisors running for about 5 hours now and here’s the results thus far.

MA has a $76 loss with one open position totaling $87.

MACD has a $140 profit with no open positions.

SecreteEA is at $0 with no open positions.

FAPTurbo has a $17 loss with 4 open trades totaling -$38.

I have a $862 profit with 6 open trades 4 up totaling $389, two down totaling $32.

This is by no means indicative of how any of these EAs perform over the long term. And to be fair FAPTurbo advises not to run the EA on Friday and SecreteEA is clear that the EA is for learning purposes only and not for live trade with real money.

And I just got lucky.

Oh, each is running on different broker demo accounts so there may be something effecting results there.

I feel like a kid learning to ride a bike with no training wheels. Ya know, one day you’re riding along wobbling but moving then the next you’re falling and crashing. Then all of a sudden you get your balance and shoot down the street.

Sure you crash into the bushes because you forgot how to brake but hey, you were riding on two wheels.

Forex trading is cool. It’s exciting and it’s frustrating. And I’ve just been into it for a month!

I’ve been reading and learning as much as possible, finding out what those charts mean, I’ll get info up on those soon, learning about expert advisors (EA) and testing products.

Last night I purchased FAPTurbo and installed it. At first I was disappointed because it’s default setting is no Friday trading but I read the instructions and found that that setting could be changed. It’s Friday and FAPTurbo is running on my FastFX demo account.

I chose to purchase FAPTurbo because I have found few negative reviews about it. I know, careful with online reviews, you never know the why behind the words. It appears that FAPTurbo has a solid JV plan or is so good that forex traders truly love it. I’ll see for myself.

I’m also running the stock MA EA that is installed in MT4 on a few of my FastFX charts, the MACD Sample preloaded on MT4 on my REALForex demo account and SecreteEA from Forex Systems Reviews on my FXPro demo account. I plan to play with all of these, and others, on all for the forex brokers I am looking at to go live with.

The plan is to run tests for a week while narrowing my broker list to one. Now that’s got me nervous.