Posts Tagged ‘Foreign Exchange’

Sorting, Fun Tips And Concepts On Spending Money For Holiday

Mar 15, 2010 currency trading

Learning to control Spending Money For Holiday is essential to your good time away from home.

- Fun. Because your vacation is for pleasure, you will want to be sure to have enough money to play with. -

If you are going to gamble at a casino, you will need money to throw away, so to speak. Unless, of course, you win. Then you will want to walk away with your new found money. If you are visiting friends on holiday, you will want to bring a gift, or perhaps something to share with a meal, like a bottle of wine. Make sure you have enough for these extra spending times.

If you are visiting a place where the shopping is superb, you will want to be able to make purchases and not hurt your wallet too much. The purchases might be souvenirs, in part, or the shopping could be in a fabulous fashion district, such as Paris or New York City. You will want to have enough to spoil yourself, if your holiday destination brings you to this type of fun.

- Organization. If your money is organized on your holiday, you will have less worries. -

For transportation you will need separate cash, especially if buses take exact change, or you want to tip the taxi driver. And the meals will be extra, including tips, which are always appreciated. Be sure to know what the recommended rate for tipping is for the area. And room service may not have been accounted for, either, also along with the tip. Of course, if you use a credit card for everything, it is easier. But it is also easier to go overboard and lose track of your spending. Perhaps it would be better to have one credit card for shopping and gambling, and another for transportation, meals, and hotel.

- Emergency. What happens when the unthinkable happens? -

We do not like to dwell on the terrible things that could actually happen while on holiday. In fact, we do not even want to think about them. But if something strange happens, you will be happy that you have funds put aside and at least that worry will be gone. Disasters do happen to people on vacations of all kinds. It is unfortunate, but it is possible. So be prepared. Have that extra cash put somewhere else. Or perhaps you would like to use a separate credit card only for this. Or you can buy additional insurance with your air fare. Being better prepared will take at least some of the burden off.

Getting back to a great vacation, keep these Tips on Spending Money For Holiday with you.

FairFX offer some of the best deals on travel exchange rates when travelling. Visit FairFX today and check out the great exchange rates on their currency cards.

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What To Know About Prepaid Travel Money Cards

Mar 15, 2010 currency trading

If you plan to travel, either domestically or abroad, one of the best ways to keep your funds safe is by use of prepaid travel money cards. These money cards offer the safety of traveler’s checks but are much easier to use.

Protection

If you use prepaid cards and your card is lost or stolen, you have not lost information that will allow someone to access any of your personal information or other accounts. There is no name printed on the card, so someone will not have enough information to steal your identity from the card.

With most prepaid travel cards, there is a guarantee that in case of lost or stolen cards, holders can have their money reissued on a new card within twenty four hours. Just call the 800 number to report the lost card and you will be issued a new one as soon as possible. The remaining balance is issued on the new cards.

Funding a travel card

If you need to add funds to the card, you can do so in three different ways. First, you can return to the place of purchase and add more money to the card. You can also add more money online using either your checking account or debit card to add more funds to the card. Lastly, you can add more funds to the card by phone. The latter two options are available from anywhere in the world.

If you travel out of your home country, by using the prepaid card, you will automatically receive the best exchange rates. Merchandise will be entered price in the local currency and that will be translated and exchanged at the current exchange rate. You do not have depend on the merchant for the best rate.

Additional benefits

By using the prepaid card you can get some of the same benefits that come with purchases made in using a normal card. You can be reimbursed for items the purchase price of the item as long as it was purchased using the card.

These cards offer greater safety and convenience than do other means of carrying funds. Some will offer travelers insurance for lost or stolen bags while traveling by common carrier. The amount may be limited but can certainly help to replace lost items.

If you are looking for the best choice of a way to carry funds when traveling, consider prepaid travel money cards. They even keep your money safe at home.

Be advised that for the moment FairFX has a great offer going which offers you a free euro, dollar or sterling travel money card (normally 9.95) which just requires a small minimum initial load. So what are you waiting for? Get your own travel money card and start saving even more money today!

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Excitement Building for Forex Traders

Mar 14, 2010 currency trading

You could have done some research into Forex markets, due to the fact that they are just thrilling to learn about. I have talked to a few different people who are making 20% plus monthly compounded returns in their accounts.

There are risks involved, although how much risk is unclear. By the monthly gains you are recieving the benifit to you definatly outweighs the risks that they are taking.

When considering it in a logical manner really go deep into what is occurring, you’ll be doubling your cash at this speed in just less than four months as long as you let all of the gains stay letting them increase and compound. I don’t know about you but to me these are stellar gains and growth rate for your forex investment account.

When was the last time you doubled your money at all? Can you double it in 12 months? Can you name a time that you’ve every managed to double your money in less than 4 months?

This is clearly a very exciting and profitable prospect, but you should take the time to learn about all aspects, including the risks involved.

The automated Forex trading system now begins to come into play.

So, how do automatic forex trading softwares work?

They are software programs, to put it simply. If you are lucky, you might get in with one that is designed by 1 or more Forex traders who have been making money in the market for over 20 years. They will have a better grip on the market fluctuations in order to program the software’s algorithm. The internal software algorithm will be programmed by what the coders are told.

These so-called concept of automated Forex robot, you only need to:

- install them – open them up – plug-in the login credentials for your online Forex brokerage account – set up the initial settings that you want the software to use to trade – let the software run and it will open and close all trades for you without any further input

This appears to be a very real and exciting way to make profits with currency pairs. With a very limited upfront and initial time investment you could potentially be making tons of profits.

One additional thing to make note of is that most of the automated Forex robots that I have seen and researched require you to set up an account with a specific online Forex broker that uses the meta-trader software system to integrate and connect with these bots so that the trades can be executed flawlessly without any human input. You should be cognizant of this, since it will have impact on the kind of Forex broker you work with.

What are the pro’s?

Clearly, you want to go for whatever gives you the biggest return for least amount of time invested. You know instinctively that your time is the most valuable asset you have.

It is a waste of your time to spend a week rather than just a few hours a month to get a sensible return.

In the first example you end up earning hardly 20% for 200 hours of your work. For each hour of time that you put into trading, you recieve 1/10% return on your investment.

In the second scene you are devoting ten hours of time to earn only about ten percent, which is approximately one half of the resources you were able to get in the first scene, what’s wrong with this picture? When you analyze it further and look at the hourly return you see that you are using your time well, since you are making a 1% return for every hour invested.

Scenario 2 is much more feasible when you use an auto-trading bot. This allows you to set initial settings to execute trades, then only check back once a day or so to verify that no major changes require you to adjust your settings. You will get more returns for your time invested

What would the downside be?

You have to be willing to give up some control for this to work for you. The software is in almost total control, as it is intended to trade for you.

Once you put in the settings this is what the software will base its trades on. You are not required to provide any further information until the time comes to make adjustments to the settings dependent upon market conditions.

These Forex tools may not be the right option for you if you enjoy sitting at your computer all day micro-managing.

You can also hurt yourself by having too much faith in the Forex trading bot simply because it has done well for you in the past. You will always desire to know more and more about the Forex markets and how they really operate on a daily basis as you go along with your trading.

If you use an automated program to trade in your Forex account, it is a good idea to login at least twice a day — in the morning and the evening — to keep an eye on your account’s activity. The software must allow for volatile market changes, so this can be managed before you lose your entire account.

Software is not human and can not think. This is the place where you have to take part and understand the risk level you’re willing to take as well as the market’s current risk level.

So what’s the conclusion?

In my opinion, most Forex trading platforms can do the job beautifully, when the settings are optimized properly. One rises above the rest because it was formulated by 2 traders with 20 years of Forex trading experience.

You will also want to ask that if when you have automated Forex robot you also will have acess to a members chat or a direct phone number of a trader who monitors the market so you can adjust you portfolio as needed.

Therefore, you’d like to know that someone is there to keep the software operating as intended. These automated bots do require a bit of maintenance, though overall amount to far less work than if you were to do it yourself.

Alexander James is an expert well known by those in the forex market. He’s evaluated FAP Turbo thoroughly here. Also check the blog for FAP Turbo Trading Results

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Is Today The Moment To Exchange Your Sterling For Euro Currency?

Mar 13, 2010 currency trading

The Information on the Euro

The euro is a very new form of currency that was officially established in 2002, although the idea behind this universal money has been around since the 1950s. The Euro, EUR, is the cardinal currency of complete members of the European Union (Finland, Belgium, Portugal, The Netherlands, Luxembourg, Italy, Ireland, France, Greece, Spain, Germany, and Austria) but is also used in some other regions that are not currently official members like Montenegro, Kosovo, and Andorra. Establishment of the euro as a common currency was a significant milestone in European history, and it was created in part as an effort to help unify the various countries with a consistent method of payment particularly for transactions between countries. A unified central bank and common interest rate to be employed by the 12 members of this monetary union followed in the wake of the creation of the EUR. The bank has its headquarters in Frankfurt, Germany, where all of the monetary policy is discussed and ruled.

Historical Conversion Rates of British Pound Sterling vs. the Euro

As the Euro does not have a long track record yet, it has a limited history of conversion rates. It can be said that since its establishment, the euro has started and remained strong in comparison to the dollar and the British pound as it covers a wider economy and influences a greater number of people. The European Union has experienced continued improvement against its competition by succeeding in efforts to curb inflation, interest rates, and unemployment thereby lending stability to its currency. Even in the first year of circulation, the conversion rate for the British pound sterling and the Euro was 1.59 GBP to EUR, showing a substantial command over the economy and the world money system as a whole. Though the numbers have fluctuated from year to year, the euro has still done very well overall, showing signs of good control and prosperity.

The Modern Exchange Rate for the Euro to GBP

Recently, the euro has still remained a strong force in the world currency market. Having peaked so far in 2002, the world has witnessed a decrease in Euro value consistently since then. The exchange rate for the Euro has steadily gone down from 1.59 EUR to GBP in 2002 to 1.1 EUR to GBP in 2008. This is mainly due to the downturn of the world economy, specifically the US, as members of the European Union depend on the US for exports and tourist income. The Euro has had fewer chances to experience circulation properly due to a lack of tourism dollars and exports from the Americans, and has subsequently lost value. Unless the basic makeup of the system is shaken up, there is no reason to expect massive gains for the Euro in the near-term future; however, the Euro should still remain one of the stronger currencies in use.

FairFX offer some of the best rates on euros in the market, and are currently offering a free holiday money card, which gives great rates when holidaying in Europe, to our readers. Visit FairFX now, and check out the excellent exchange rates for euros on offer.

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Discover The Cheapest Tourist Exchange Rates

Mar 12, 2010 currency trading

Finances are always a chief concern when you are planning to visit another country. Not all of them, however, relate to the cost of the trip, some relate to the expenses you will incur while on your trip. It is imperative that you familiarize yourself with the currency and the most current tourist exchange rates.

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You do no want to end up going and find out you have no idea how your money measures up to the local currency. To properly plan your trip, this is very important information that you need to know. If you did not think ahead and set aside enough money to meet expenses, it could ruin your vacation. This is why you have to know whose dollar is worth more.

The relevant exchange rates are available from many different sources. You can use your television to find out, simply by turning on the morning news on a cable or local station. They do, however, lack the ability to provide you such details in current time, so it may not always be completely accurate.

Whatever bank you use may also provide such details for their customers. Finding out could be as simple as making a phone call or stopping by a branch to ask. A lot of them will even do a currency exchange for you, so you can be ready, in advance of your travels.

You should note, however, that neither one of these provides the optimum solution. The main reason for this is that currency rates generally change daily and can fluctuate throughout the day. You could end up arriving for your trip and discovering the information you were given is now out of date.

Thankfully, you do have several options that you can use to avoid finding yourself in such a situation. There are many Internet sites that offer real-time currency exchange information. They use automated processes to make sure they offer the most up-to-date information possible.

Having the most recent exchange values, right when you need them, is an invaluable resource for travelers. You can quickly find the information you need, for almost any country in the world, in just a matter of moments. You just have to spend a little time using a search engine.

The Internet is the fastest and most reliable resource for when you need to know accurate tourist exchange rates. No matter what country it is, you will always know precisely how much your money is worth there. For travelers, this can save a ton of time and frustration.

There’s a special offer right now with travel money card FairFX where you can get a free euro card, free dollar card or free sterling global travellers card and save the normal 9.95 setup fee (Subject to a very small initial load). You can save more for less with a travel money card!

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Today is the Best Day to Start Currency Trading

Mar 10, 2010 currency trading

Money never sleeps, so you make your own hours to work during your personalized business hours. Currency options trading requires the intervention of several different people. Because they believe that currency trading is highly lucrative, they have begun to trade.

This tactic is effective, it is broad, and it will reap benefits from even subtle changes in the foreign exchange business. While there is the possibility of make a large amount of money while currency trading, with this comes a large amount of risk.

You need to know terms that deal with currency options trading before you get started. It is important to know many common terms used in the business such as “Call option” and “Put option” are these are important phrases.

As in all trading, you have the opportunity to buy or sell a share. A “call option” is used to purchase, while a “put option” is used to sell. Currency trading is done between two currencies, sucha s the USD/JPY trade between the US Dollar and the Japanese Yen.

Fap Turbo bridges the investing gap. If the dollar exceeds the market’s closing value, your earnings will increase significantly. There’s immediate liquidity in this activity. No waiting for checks.

Additional means of currency options trading do exist; they involve Average Rate Currency, Binary and Double Barrier Range Binary. The currency trading discussed requires information from various types of stocks, bonds, shares, property, and other securities.

During currency trading, you should keep a close eye on strike prices, contract size, settlement dates, and other parameters. This way, you’ll learn more about the various kinds of currency trading.

A lot of folks enter into currency trades with exaggerated hopes. Currency trading requires intense concentration, and thoughtfulness. Many people who enter this trade, are not prepared.

They fail because they are speculating instead of actually comprehending how the forex market works.

One must pay close attention when trading currency, in order to consistently make a profit. It is very essential that you go through all the aspects of currency trading very well prior to you jump into the forex market.

Before beginning to trade in the currency market, make sure your bank balance can stand it. If you do not have sufficient monies in your bank account, it is unwise to be in the trading game. You could even end up losing it all in case something goes awry.

If you want your activity to be profitable, you have to learn as much as possible about currency trading before embarking upon it. Success is realized from making correct choices at the correct time.

I have found an autopilot forex trading software which performs very well and solves the problem of having no access to professional traders. Get the details for Fap Turbo here.

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Consider Owning Your Dual Currency Account

Mar 8, 2010 Uncategorized

Having a dual currency account is one of the most important things you might want to consider as you start expanding your market base. However, there are some things that you need to take note of when getting a dual currency account such as:

1. Shifting amongst accounts – It is a must that you find a platform that can conveniently switch from one account to another. And it would even be better if you can get one that operates in real-time for all of the currencies you use in the said account. This way it would be really easier for you to track the value changes as they happen. Make sure that there are no lags in between the switching because you might end up missing very important opportunities in case glitches should happen.

2. Separate person to take care of the transactions – Though a dual currency account is able to save you in terms of letting you maximize your trading time, you might just get too overwhelmed with all of the responsibilities you would suddenly have to incur. If you feel you would have a hard time focusing on everything, it would be good to consider getting an assistant to help you out. At least you can be sure that another person’s eyes are seeing your business trading game.

3. Your Capacity for payment – Be prepared to anticipate that a dual currency account will turn out to be an investment. Prepare yourself for the inevitable price you literally have to pay because of this tool. So be extra careful when it comes to evaluating costs so you can be sure that you are really getting your money’s worth from the total which you ended up paying for. You might want to take a look at all the possible options first before zeroing in on just one choice.

4. The System’s technical preparedness – To add to the concern for price, be ready to anticipate and prepare for the fact that you might need a high-profile type of system in order to run the account successfully. Check the specs of the account before you sign up for it and make sure you get all the technicalities assessed. If you are not that tech-savvy when it comes to these things, ask someone who can understand the technical stuff and let him also identify your current personal computer or laptop to find out if both things would be a good fit for each other. You can also try asking the account owners to do the checking for you if they should offer that too.

5. You should try the free version – In cases when the dual account offers a trial version, it would be a good idea to try this out first before you end up buying the whole thing. At least in the fifteen days or so that you will get to use the dual currency account you can already identify how it works and does not work for you. Such is indeed a wise method to have a better feel of the entire account without you needing to gamble on your monetary assets.

End your anxiety due to sudden trade market fluctuations, forex FX news should keep you informed. And to always avoid fraud transactions, involve yourself with broker forex reviews communities like reviewpips.

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The Diverse Forex Trading Strategies To Help You Earn More Money As Well As Decrease Risks

Mar 7, 2010 Uncategorized

The forex trader which is either home-based or office-based or retail investor can perhaps trade on real time through several financial institutions with the assistance of a broker. The broker subsequently uses the computerized platforms of transacting. It contains forex traders on live desks that puts the trades on the broker’s books or on actual investors. On the other hand, as soon as the trade was placed in the broker’s order, 95% of the money will be lost by the traders. So the foreign exchange brokers understand fully that is as an big plus on the deals.

One such monetary sector that you could genuinely make money from is the forex market. The Forex market is definitely the biggest and the most liquid marketplace in the world with trades available for 24 hours a day and exchanges that amounts to trillions of dollars each trading day.

In order for an individual to become successful within this market, you need to comprehend the basics regarding the Forex market. You ought to be able in order to learn how to trade, when to trade and exactly what to trade. Additionally , you will need to know the various investing approaches in the largest economic marketplace on the planet which is the foreign exchange.

Finding out a bit about the different buying and selling techniques in Foreign exchange can enable you in the future to reduce the chance of losing funds and increase your odds of generating large revenue.

First of all, it is important that you ought to keep in mind that the forex market can supply you with the opportunity to generate a good amount of money. This is a recognized fact that individuals who have exchanged on this quite liquid market have made an incredible number of money almost instantaneously. You also have to understand that the Foreign exchange market can also be a very dangerous market to be in. It is also a known incontrovertible fact that numerous traders in this marketplace have suffered losing big money even going to the brink of chapter 7 or beyond.

This is why you should know the various methods that are necessary in the Foreign exchange marketplace. Without having these methods, you will be like a sightless guy crossing a lively intersection without any one to direct you.

The process may be very effortless. A trade is being placed either in the sell or buy groups. Then the base currency will immediately buy or sell it’s opposite foreign currency in pairs. The price will vibrantly transform every moment. Take for instance; you purchased the GBP/USD pair. This virtually suggests that you have purchased the pound currency and sold the dollar currency. You want an increase on the pounds value that will later on possess a higher price when you resale it in the forex market. That might make a profit for the value difference.

Just about the most practical strategies that you could apply in forex is termed leveraging. This is one of the most common strategies that you could use in the Forex market and many Forex traders are aware of the leveraging strategy and several have produced huge profits from this technique.

To learn more about Forex Robot World Cup & World Cup Forex Robot

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Foreign Currency Exchange Rates: Detecting The Cheapest Offer

Mar 5, 2010 Uncategorized

If you are traveling overseas, you will want to do as much as you can with the money you have. Considering all the fees and various rates you encounter when traveling, you might not know how to get everything you can with the money that you have. In this article I will show you a couple of methods for using your money wisely when traveling.

Getting low foreign currency exchange rates

A good way to save a bit of money is by locating the smallest exchange for foreign currencies that you can. You will find a lot of sites on the internet that will let you know what exchange rates are for things you buy, through the use of a credit card company. If you are buying something through a debit card, credit card, withdrawal from an ATM, cash, or a cash advance, you probably are going to get hit with one fee or another from the company or bank your money is coming from. Discern what the fees are for the companies that have your money and find out which one will cost you less.

Money exchange rates might change significantly based on the provider

It depends on the company or bank that you use, but you can pay various exchange rate amounts, meaning that you will be spending more money by having to go back and forth between them. But, if you choose the correct company or bank, you won’t have to lose so much money. For example, a card from USAA will charge you a 1% fee of the currency you are exchanging, but if you use a Capital One card, you don’t get charged anything and you will be much better off. A card from Citibank or Chase will result in a 3% exchange fee, so you might want to do figure out something else to do if you are traveling overseas with those cards.

Purchase your foreign currency online before you travel

At times when you are on a trip, you don’t know what you are going to buy or how much you will pay. This means that many times you will buy a lot of things at different times using a credit card, check, or cash, which will cost you a lot in fees when you are traveling abroad. A fantastic way to get around that is to have a company send you the foreign money before you even go on your trip. Businesses like Wells Fargo and EZForex are able to do this on the internet. You just have to visit their site, buy the foreign currency using your money, and then you will have the money already with you when you take your trip overseas. I hope that this article has assisted you in showing you how to spend your hard earned money when you are traveling abroad for either work or pleasure. By utilizing these strategies, you will be able to spend more of your money on what you want overseas.

There’s a special offer right now with travel money card FairFX where you can get a free euro card, free dollar card or free sterling global travellers card and save the normal 9.95 setup fee (Subject to a very small initial load). Start saving more money now with a travel money card!

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Getting Started in Forex?

Mar 5, 2010 Uncategorized

Even though the Forex markets and investing have existed previously, they differed from now in that they were only available to the ultra rich. These people have large amounts of money and take charge over the market.

But with the advent of the Internet many of these avenues have opened up to individual investors. Many Forex trading tools have been released to aid you in your training.

It is madatory that you possess the precise knowledge of how to trade in the currecncy markets prior to the beginning of doing so. One of the biggest mistakes you can make as an investor is heading into the market with little to no knowledge about it.

The results may include massive losses. Many people have lost a huge amount in their stocks and mutual funds due to the current US economy. This does not have to happen to you.

Some general facts about the forex market are as follows:

1. It’s open 24/7 and year-round.

2. Over US$2 trillion in transactions are conducted in every 24 hour period making it the largest market on earth

3. Due to this incredibly high volume it’s virtually impossible to corner or move the market or matter what how big the size of the transactions you’re able to do.

4. Also due to the huge size it is the most liquid market on earth so when you want to get out and exit a trade you can do so almost instantaneously

5. Setting up an account is basically the same as setting up a stock trading account like you would normally do at any other brokerage

What currency can be traded on the foreign exchange market?

The United States, Australian, and Canadian dollars are some of the most used monies as well as the Yen from Japan, Switzerland’s Fanc and of course Britian’s pound can be used for trading when used in pairs.

Currencies being paired into groups of two is part of the foreign currency market.

There are 7 main currency pairs you’ll be trading in as follows:

1. The US dollar/Euro

2. The US dollar/Japanese yen

3. The US dollar/British pound

4. The US dollar/Swiss Franc

5. The US dollar/Canadian dollar

6. The US dollar/Australian dollar

7. The US dollar/New Zealand dollar

The statistics support the claim that over 70% of trades are conducted in the US/Euro dollar pairing. Pips, a specific jargon term used by the Forex market space, refers to the situation in which trades are done. This is the smallest unit or increment a currency pair can trade in.

For example, you have probably seen some of the quotes that you can buy one euro for $1.53 US. This would be the Euro/USD dollar pair. So if you were to trade 10 pips of this pair then you would be able to get 10 for a price of $15.30 US.

Then of course you would be hoping that the euro would rise against the dollar so that when you went to sell your 10 you could get say $16 US for them which would leave you a profit of $.70 US.

100,000 units of the currency of your country is the general transaction size in the forex (4x). There is also a mini transaction of 10,000 units and a micro-transaction of 1000 units of your base currency. To be able to trade in these smaller lots you have to have a specialized and specific Forex account which is either a micro-account or a mini account.

Forex gives you the concession of massive leverage but you should be extra-careful while handling it. If the trade ends out in your favor you can reap an enormous amount profit with little investment. However, when the trade goes against you even though you only put a little bit out of pocket you could lose massively more out of your entire account.

This is a good start to your Forex education and you definitely need to know more before you dip your toe in the water and risk your own real money in this market place which is rife with opportunity but also infested with sharks who would love nothing more than to take all your money.

Alexander James has been an investor for a while and loves reporting on the forex markets. It’s probably the non-stop 24/7 action which Fap Turbo software allows. You can see Fap Turbo Week 1 Test Results here.

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