I mentioned at the end of last week that I would not be trading with FAP Turbo or Forex Auto Scalper this week as events in the US and general economic conditions seem to be hanging heavily on the market.

This seems to have been a wise decision as reading various reports things have not worked well this week. Right at the beginning of the week I noticed a trade on my Forex Auto Scalper that resulted in a 20 pip loss (this was outside of normal trading time) so I immediately closed it down.

Reading the FAP Turbo forum there are many posts where people have experienced losses, especially on the GBPCHF. Some people have lost a sizeable amount of their bank and are smarting from the experience.

Having said all that I believe there is some evidence that the big losers were using settings that were less than conservative so there is a case for reaping what you sow to some extent.

A very useful site that will provide detail trades on both FXDD and FX Pro live accounts is FapTurbo Review. When you sign up with your email they will send you a weekly commentary on how they fared during the week. They also show the settings they use to help newcomers.

I will watch how things go next week to decide whether I will start up either FAP Turbo or Forex Auto Scalper for trading. As said on many comments I've seen being out of the market in volatile times is just as important an investment strategy as being in it when profits are being made.

Again, many people seem to expect these tools to provide instant profits of a sizeable nature. I think this is the wrong approach. Time is on your side because the market is always there and as long as you use compounding sensibly the long term is a better bet for overall profitability.