Welcome back! Today, we’d like to talk about the “auto cash” Forex Scalping EA. The presentation is several pages long. The scalping strategy itself is based on the short term deals that cut out (scalp) a little profit and close a deal. Usually, it’s not more than 5-10, maximum, 20 pips. No long term trading is allowed.
Features
Let’s figure out what features the EA received.
- The robot uses reversal trades for scalping.
- The preferable time frame to work is M5.
- ECN account would be great to have or at least a broker with tight spreads (like IC Markets).
- The EA is a fully-customizable trading solution.
- It supports trading on the MetaTrader 4 platform.
- The devs provide knowledgeable and quick to deliver support.
- We have to try it, firstly, on the demo account before going live.
How to start trading with Forex Scalping EA
There are several rules and advice that help us to get started:
- The devs warn us that our capital is at risk.
- We have to understand what this strategy is up to.
- We have to start trading from the demo account.
- We have to run the EA with default settings if we’re not pro traders.
- The EA is designed to trade on MT4.
Backtests
There are 15 backtest reports for all supported currency pairs.
It’s AUD/NZD one that was performed on the M5 timeframe. The modeling quality is 90.00%. The test is 20 years long for all symbols. The initial deposit was $1000. The total net profit was $247M. The Profit Factor was relatively high (2.06) for a scalper. The win-rate was solid and equaled to 79-81%. The maximum drawdown was minimal (1.10%) and not typical for scalpers.
It’s AUD/USD one the same time frame with the same parameters. The initial deposit of $1k became a $750M total net profit. The profit factor for this symbol was higher than for AUD/NZD and equaled 3.00. The maximum drawdown was lower (0.82%) and the win-rate was higher (84-85%).
Verified Trading Results of Forex Scalping EA
Forex Scalping EA has Track Record Verified trading results. It’s a demo USD account on EasyForex. The robot trades without leverage on the MT4 platform. The account was created on November 11, 2019, and funded for $50k. For a year, the total gain amounts to +3600.59%, and the balance is $1.85M.
There were performed 2164 trades with +6554 pips. The average win (+5.37 pips) is twice less than the average loss (-10.38 pips). The robot trades only in one direction. Longs’ win-rate is 85%. The average trade length is half an hour. The Profit Factor is excellent and higher than on the backtests reports (3.76).
The EA works with all major currency pairs.
It opens trades during the end of an American trading session and at the beginning of an Australian trading session.
The risks are set to 1% to the account balance.
As we can see, the system trades with fixed Lot Size.
The monthly gain varies depending on the months, but all of them were closed with a solid profit. So, with a 1% risk, the EA can provide up to 7% of the profit for ten days.
Is Forex Scalping EA a viable option?
We can be sure before we see real account trading results. We don’t know why seeing results like this; the devs didn’t start a real account to make money and forget selling and supporting the robot like a nightmare. Also, the fact that there’s a single person who tracks their account warned us. Accounts like this usually are followed by 30-50 people.
Pricing and people’s testimonials
There are four packages on the board. The Basic costs $100 and includes trading with all pairs, unlimited demo accounts, a license for one real account, support, and free updates. The “Standard” one costs $150 and allows to trade on two real accounts. The Gold package costs $200 and supports three licenses. For $250, we can buy a Premium package with unlimited real account licenses. The devs provide no money-back guarantee.
It’s funny because the devs noticed that most likely, they’re fake.
Summary
The devs provided no strategy or settings explanations but showed backtests for all symbols and demo account trading results. The Forex Scalping EA makes a solid profit (+3600 gain) with a huge Profit Factor (3.76). Every month was closed with significant profits. The first ten days of October show solid trading results, performing with the lowest possible risks. Pricing is not high, but there’s no money-back guarantee. So, risks are high that it’s a scam service and these trading results were reached by the 3rd-party received software.
