FapTurbo Evolution – Our First Impressions
At the last count I had received 28 emails over the last few days advising me that "FapTurbo Evolution is LIVE!" and such like. Five of them were from the Forex MegaDroid team. I was a bit confused because I was sure that I got a few emails 2 or 3 weeks ago telling me about a robot called FapTurbo Swiss, which sounded a lot like this new one. Clearing my thoughts, I followed one of the plethora of links to the FapTurbo Evolution sales page, which told me at the top that:
The move away from MetaTrader into serious robotic systems was the smartest thing the FapTurbo developers could do. NO MORE METATRADER CHILDSPLAY!
With all the problems we've been having getting MetaTrader and Forex MegaDroid to work smoothly together I thought they might well have a point. In one of their emails the MegaDroid team had told me that:
If you thought of getting a copy of FapTurbo Evolution then do so NOW!
so I did. Apparently:
"Once the FapTurbo team sells the 2,000 available copies, it's off the market for GOOD!"
This most recent evolution of the forex robot is a lot more expensive than Forex MegaDroid, but since unlike the Droid it's a "serious robotic system" it does sound as though it will prove to be worth it. Once I'd parted with my credit card number I hurriedly downloaded the robot and read the manual. Amonst other things it told me that:
FapTurbo Evolution does not currently trade on EUR/USD. As of now, FapTurbo Evolution will work on EUR/GBP, EUR/CHF, USD/CAD and GBP/CHF.
No evolution there then. I read on:
In FapTurbo Evolution, we concentrate only on the first scalping strategy. FapTurbo’s Take Profit settings are usually around 6 pips, so this robot is sensitive to the spreads offered by brokers. This is precisely why we developed FapTurbo for Dukascopy.
That sounds like a step backwards. Seems like I'd only bought one strategy, instead of the two that came with the "MetaTrader child's play" edition of FapTurbo. Maybe the long term EUR/USD strategy hasn't been working too well recently?
The FapTurbo team seems to have shrunk for some reason. Mike and Ulrich seem to have vanished. Maybe they've bought one of the Bahamas and retired there? Steve's name still remains though, and he revealed to me that:
FapTurbo Evolution works only in the night hours of the European Session (i.e. from 9 pm GMT to 2 am GMT). The volatility during the after-market hours is low and FapTurbo uses its internal filters to make sure that its combination of entries and exits are consistently profitable.
Now that sounds an awful lot like the way Forex MegaDroid operates to me, except that the Droid seems to look for 10 pips rather than 6 like FapTurbo. I guess Steve's "serious robotic" technology must work better than Albert and John's "artificial intelligence". As we discovered the Droid can't really be described as "consistently profitable".
One other important fact is revealed in the manual. The technology may be more serious than that contained in Forex MegaDroid. The money required certainly is!
The minimum lot size in Dukascopy is 0.1 lots. In Dukascopy, 1 lot is equivalent to opening a position of 1 Million units.
We are definitely not talking micro-lots here. The minimum Dukascopy account size of $10,000 doesn't really sound like it's going to be adequate. Another potential problem is revealed in the manual too:
Please keep in mind that backtesting in Dukascopy is MUCH slower than what you may have experienced with MetaTrader. So, go grab a cup of coffee, watch TV for a while and then come back to check on the results.
We set off our first backtest, grabbed a cup of coffee plus some lunch, and returned to discover it's still only 30% complete. This is for a test period of just over a week!
When it's finally finished we'll let you know what else we've managed to discover. In the mean time you may wish to consider whether you have $10,000 or more that you're willing to lose speculating on the foreign exchange markets.