In this post I will be reviewing the Forex Scalping EA. This is an automated forex trading system that trades multiple currency pairs on the 5 minute time frame with universal settings.
The fact it trades multiple pairs with the exact same universal settings shows just how carefully though out the trading strategy implement into the algorithm of this forex robot is. It has great diversity and customer support. You may choose to trade a selection or all of the currency pairs depending on your preferences thus making it very flexible according to your needs.
It runs on the MetaTrader 4 trading platform and after an instant download can be setup and running in just 5 minutes trading for you on auto pilot.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
Forex Scalping EA Trading Strategy
The Forex Scalping EA strategy is to trade on the 5 minute time frame during times of low volatility by combining technical and price action analysis.
The expert advisor (EA) will analyse charts for potential trading signals based on the built-in algorithm. When it finds a signal, it can place and manage trades on behalf of the user. The settings can be customised to the user preferences.
One of the things that I like most about the Forex Scalping EA is that it can use the same settings on all of the currency pairs it trades and it has also been tested with real tick data from Dukascopy using real spreads, commissions and slippage. What this means is that the results are as accurate as possible in the MT4 strategy tester.
You can choose to trade certain currency pairs or all, there are built in maximum spread and slippage filters to avoid certain market conditions. As always, I would want to use an ECN forex broker for the best possible trading conditions, especially when using a scalping strategy.
Forex Scalping EA Back Testing
The Forex Scalping EA tick data & real variable spread back testsare available on the official website. There is an impressive 9 back tests showing historical results from multiple different currency pairs using the same settings. In my opinion, this can show the strength of a forex system when it has the same settings regardless of the currency pair traded. Unlike other forex robots it has not been optimized for each individual pair, which also makes it easy to setup. It should be noted that there are no guarantees on how any system will perform and historical results are by no means an indication of future performance.
Forex Scalping EA Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Forex Scalping EA Summary
I believe the Forex Scalping EA has potential, especially if using a forex broker with tight spreads, low commissions and fast execution speeds. It trades on multiple currency pairs and has built in spread/slippage filters to try and adjust to different broker conditions.
If you are looking for an automated forex scalping system then this is certainly worth checking out by clicking the link below to visit the Forex Scalping EA official website.
It includes detailed instructions for a quick and easy setup, full support and free lifetime updates.