FAP Turbo is probably one of the most popular and well-known automatic trading systems online. This Expert Advisor (EA) launched in 2008 and has astounded the forex trading community with huge returns for no effort whatsoever. Not quite the reality, but I have used it since its launch and it is profitable. It can probably be as profitable as their marketing material suggests if you want to risk 20% of your trading account per trade. Not very prudent but possible!
There is not really that much to say about an automatic trading strategy. It either works or it does not! You sign up to a Metatrader broker, attach the EA to your charts and let your computer run 24/7. Actually, you can give your computer a rest over the weekend when the Forex market is closed. FAP Turbo supports 5 currency pairs at the time of writing at the best technology, with more added every now and again. Some pairs are more profitable than others. For instance, EURCHF produced excellent results for me. You can always remove the least profitable currency pairs after you have tested it for a month or two, although I would suggest running with as many pairs as possible to spread your risk.
The EA also gets updated regularly in order to reflect the current trading environment. This was the downfall of most of the EAs released previously. They all worked great when they were launched, but when the trading environment changed they were not updated and stopped being effective. A big plus for FAPTurbo.
So the important question: Does it make money?
Yes, it does. However, your returns will be quite volatile on a day-to-day basis, mostly due to the large stop loss added to each trade. One bad trade can wipe out 10 or so good ones. Lucky then that over the last 18 months I have had around 19 good trades for every bad one. However, if you look at your account on a monthly basis you will be impressed with the EA’s performance.
I currently use FAPTurbo as one of two automated trading strategies on one of my trading accounts. The other is Forex Megadroid. I run the scalping strategy on all the relevant currency pairs and the longer-term strategy on the EURUSD. I don’t risk a large percentage of my trading account per trade around 4% or 5% per trade, but this is due to personal preference. And I have made on average 12% per month profit on my account.