In this post I will review the Forex Jabrix Scalper Robot. This is a fully automated forex trading system that has been developed for the MetaTrader 4 platform. MT4 is available for free from most online forex brokers. With so many brokers to choose from, I have compiled a list of my personal best forex brokers for inspiration.
I would always look for the broker with the lowest spreads and commissions as this can help me to save on trading costs in the long term. Furthermore, ECN brokers can have quick trade execution speeds which could help to minimise slippage and get trades executed at the best available prices with minimal delay. This is especially important when using a forex scalping strategy such as that implemented by this forex expert advisor (EA).
Forex Jabrix Scalper Robot Trading Strategy
The Forex Jabrix Scalper Robot observes price movements using dynamic algorithms in order to try and analyse for volatility and price movements in order to determine the right time to enter the markets. As an automated trading system, it will place and manage trades on behalf of the user but this can cause it to be a “rigid” trading strategy.
This automated strategy uses pending buy and sell orders to maintain one another’s orders. This can cause multiple trades to be open at once which can greatly increase risk exposure and may be considered s dangerous money management by many professional. It is imperative to ensure that you are clearly aware of the risks involved with trading online and perhaps only trade on a demo account to begin with until you have familiarised yourself and feel confident.
The developer states that the Forex Jabrix Scalper Robot can run simultaneously on the 5-minute chart timeframes of the EURUSD, GBPUSD, USDCAD & USDJPY currency pairs. They have also left some of the EA inputs external so you can adjust according to your own requirements if you wish to do so.
Forex Jabrix Scalper Robot Back Testing
Whilst there are multiple currency back tests on the Forex Jabrix Scalper Robot website, they only have a modelling quality of 90% and do not use real tick data, real spreads, real slippage and do not include commissions. Thus, I would not consider these back tests to be reliable personally and would much prefer the developer to display 99% modelling quality back tests that have been conducted in the MT4 strategy tester with Birts Tick Data Suite.
Forex Jabrix Scalper Robot Live Results
Forex Jabrix Scalper Robot Summary
The Forex Jabrix Scalper Robot looks to be very broker dependant in my humble opinion. I would think it would be very difficult to find a reliable forex broker who has spreads tight enough and commission low enough to run this EA. That being said, the developer has tried to account for this with some filters but the back tests are not using top modelling quality and there is not verified myfxbook accounts.
The Forex Jabrix Scalper Robot includes instructions and support. I have conducted many forex robot reviews and there are alternative options you may consider.