Is FAP Turbo The Latest Forex Trading Robot Scam?
Throughout my experience at reviewing potential Foreign Exchange trading software on the Internet, it is easy to fall prey to clever little tricks and tactics employed by the program owners to inflate or manipulate the program’s successfulness.
One such ruse is by showing us the results of “back tests”.
The back test results represent the results of the software running in demo mode and although they can give a decent representation of how well the software can perform, they also can be doctored to fit the bill.
The thing you need to pay attention to is the equity curve (showing your potential rise in earnings each day/week/month).
After visiting the FAP Turbo website and looking at the back test equity curve, FAP Turbo seemed at first like so many of the other Forex trading programs out there…a little too good to be true for my liking.
Taking into account the above factors we pressed on with our review and examined the following:
1. Longterm Winning Percentage Must Be Proven
The first and foremost key to a good Forex robot is the winning percentage it produces. Now, many people take figures that are produced over a couple of weeks as golden, but the real secret is to look at long term figures for a better representation.
It’s worth knowing that the average Forex trading software can have drawdowns of around 10 or even 20 %.
After evaluating and reviewing the FAP Turbo system, we were excited to see that their software boasts an average drawdown of just 0.35%…very impressive.
2. Drawdown
And of course, the foremost key to a good Forex robot is the winning percentage it produces. Now, many people take figures that are produced over a couple of weeks as golden, but the real secret is to look at long term figures for a better representation.
The beauty of FAP Turbo is that the winning rate in the past 9 years has been 95% on average, with live testing showing even better winning percentages. Clearly, the software can make you money from this factor alone.
What we found out during our extensive review (see bottom of article) is that the FAP Turbo software seems to trade for long term rather than short term, and makes you money from trends that are more stable as a result (probably why the success rate is more predictable for so many people).
We also noticed even before trying out the software that the videos, screenshots and other elements of proof on their website are pretty consistent…because the back test results and the live results share a similar pattern of equity growth, whereas many bogus schemes will show inconsistencies in their results because their back tests are falsified to inflate the true performance (using different rules in demo mode compared to real live trading).
When you have a forex trading robot that consistently produces results like these over a 9 year period it is difficult to find a reason not to at least try it out. For details on our first trade and what we made / loss, check out the link below:
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