In the currency markets, having the right strategies applied at the right time is essential. You must have trading forex strategies for both the short term and long term scenarios. This means that the Expert Advisor you are using must also be capable of implementing said strategies. This article will be examining the short term strategy of the FAP Turbo forex robot.
Using a short term trading strategy is ideal when the market trends at the moment are favorable. This requires quick action to make the most out of the favorable conditions.
The short term strategy of the FAP Turbo is usually referred to as its scalping techniques. This involves high frequency trading of small accounts which will result in smaller than usual gains. The gains may be smaller but with more frequent activity, can multiply, and when compounded they will result in significant amounts. Traders who have used this strategy have reported that it can multiply their trading account fast.
Along with its scalping techniques, this MetaTrader robot comes with a built-in protection. Some robots have no such protection that they result in burning out the account of the trader. With the FAP Turbo, you have a small stop loss as a safe filter parameter. This is to ensure that when the favorable market trend changes, the profits you made with scalping will not be wiped out.
With this robot, you also have the added advantage of being able to trade in five currency pairs. These currency pairs are the EUR-USD, EUR-CHF, EUR-GBP, GBP-CHF, and the USD-CAD. With this robot you can trade simultaneously in these currency pairs using the scalping strategy.
To summarize, this robot can be used for short term strategies, with up to five different currencies simultaneously, and has built in parameters that will protect your gains from being wiped out if the favorable market conditions suddenly reverses. If you want to know if the short term trading strategy can also be used if you are into option trading, it is indeed possible. However, the gains here will not be as high. Currency options are better suited to medium and longer term strategies.