The Euro Scalper Pro EA is a fully automated FX Expert Advisor designed for both beginners and experienced traders, showcasing profitability in both short-term and long-term trading. This robot employs a proven short-term scalping system, boasting remarkable results over numerous trades. With a focus on the EUR/USD currency pair and a preference for the M1 timeframe, it has demonstrated a win rate exceeding 95%.
Original website: www.formulascalper.com
Key Features and Considerations:
- Scalping Strategy: The EA utilizes a short-term intraday trading strategy, placing pending orders at potential break-out levels. This approach is geared towards capitalizing on small, rapid price movements.
- Martingale Strategy: The Euro Scalper Pro EA incorporates the martingale strategy to recover from adverse price movements. This strategy involves increasing the trade size after a loss, with the expectation of compensating for previous losses with future winning trades. Traders need to be aware of the associated risks, especially during prolonged negative market trends.
- Performance Metrics: The robot boasts a high monthly account growth of around 8%-10%. It has the capacity to take an average of 5 to 10 trades per day, adjusting the frequency based on different timeframes and market conditions.
- Compatibility: The EA is designed to work on both 4 and 5-digit quotes, offering versatility to users. It functions well on the EUR/USD pair, and users can choose from different set files based on their preferences.
- Risk Warning: Traders are cautioned that backtesting may not work with this robot, and its performance should be evaluated using the provided source code. The martingale strategy introduces risk, and users are advised to conduct thorough testing in demo accounts before considering real-money trading.
- Account Recommendations: While the EA can operate on a cent account with a minimum of $100, it is suggested that a standard account with a minimum of $500 provides optimal conditions. The robot is known to perform well on the EUR/USD pair across various timeframes.
The Euro Scalper Pro EA offers an automated trading solution with the potential for both short-term and long-term profitability. Traders should exercise caution due to the martingale strategy’s inherent risk and conduct thorough testing in a demo account before transitioning to live trading. The provided source code allows for customization and in-depth analysis, empowering users to understand the robot’s strategies and make informed decisions. Overall, while the EA presents opportunities, traders must be mindful of the associated risks and use it judiciously.