Is FAP Turbo Trading Robot a scam?
Posted on February 25th, 2009. Filed under: Finance.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.
So, in order to establish whether the FAP Turbo system is legit or not, we need to consider the following factors:
1. Winning Percentage
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.
FAP Turbo had proof of 95% winning percentages over a 9 year period. This is huge – and is the highest average we’ve seen over such a long time period. And the live testing showed results even better than 95%
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. Winning Percentage
Drawdown is also an important consideration when choosing Forex trading software because it measures the maximum percentage of capital that the software has lost you.
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.
So how are these numbers even possible in such a volatile market such as this? Well on closer review (see link at bottom of page for full review) it was noted that the software makes its recommendations on longer term trades. This explains how FAP Turbo is able to achieve such impressive stats. With wagering on trends you are more likely to see a return and a lot of the risks are mitigated
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 consider the substantial evidence and the impressive trading figures that FAP Turbo has been delivering for nearly 10 years now, it’s hard to turn a blind eye to such a powerfully automated trading machine.