What is your take on this trading software?


Here’s another recent trader inquiry that came in via email.

I have done some research on the Fap Turbo softare.

A friend of mine has purchased the software and began a demo account. He claims he did some trading and lost on most of the trades but he did this over a one week period.

I would like to know your expert opinion on this softare. Thanks.

Sergio

I really can’t help Sergio out here. I know zero about this software. I’m hoping that someone with experience of it can leave her/his comments.

For the record, I’m not a big fan of trading systems and software that give you automated signals, unless those signals come from a trading system you have extensively back tested yourself. I say this not because the systems in question don’t work, but because you don’t know how they work and are thus more likely to quit them when a rough patch comes.

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About the Author
John Forman, author of this blog, has traded for more than 20 years, is a professional market analyst, and authored The Essentials of Trading. He is an active participant in trading forums, consults for trading related businesses, as published literally dozens of trading articles, and has been quoted in a number of books and in the media.
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  • funtwo

    After reading about the amazing potential for a hands-free money making machine, I enrolled in a trial also, because automated trading systems would fit well with my trading needs. However, after reading a ton of experiences on the discussion board, I quickly realized that very few users seemed to be making a profit. That included one person who previously had been a professional currency trader. Fortunately, it was easy and efficient to receive a refund after opting out.