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Advanced Scalper is described as a proficient trading bot that has taken many years to create. It works with very advanced exit-algorithms, including built in spread-filter and slippage-control algorithms. The EA is tailor-made to adapt to the unique needs of users, and if you want to work with the vendor’s settings, you are asked to visit the comments page.
The developer of this robot is called Wim Schrynemakers. He lives in Malta and has been creating EAs for 17 years now. Red Hawk, Gecko, Night Owl, Momentum EA, Grid King LITE, Swing Trade Pro, and Reaper are among the many EAs Wim has produced. In creating his products, the developer claims more attention goes to managing risks and attaining a desirable risk/reward ratio.
Advanced Scalper strategies and tests
The EA has the following characteristics:
- It uses stop losses for each trade strictly.
- It’s fully automatic with modifiable entries.
- It majorly works with these currency pairs; USDJPY, EURUSD, and GBPUSD.
- The recommended minimum balance for running full setup is $150.
- It includes a very advanced SL-management.
- The system has a slippage control algorithm to prevent it from making larger losses during heavy slippage.
- A spread filter is incorporated to prevent trading during bad market conditions.
- Traders are asked to utilize the EA on brokers with low spread, fast execution, and fast execution.
Advanced Scalper engages in fully automatic trading while applying a high/low breakout system to calculate entry points. Any time frame can be used, but for the EA to identify safer entry points, the vendor recommends using the H1 or H4 chart. The system also supports manual trading strategies. As a trader, you can select the entry point or work with a combo of other systems to set the entry points. Consequently, the Advanced Scalper will apply its advanced exit-algorithms to follow up those trades.
Backtest results
From the above report, it is obvious that the Advanced Scalper was tested between 2014 and 2017 using fixed lot sizes (0.01). With a deposit of $1000, the EA carried out 624 trades. The resulting profit amount was $166.12, which is equal to a 74.20% profitability rate. The largest profit trade was $2.80, whereas the largest loss trade was -$0.81. The low drawdown (0.10%) made is a sign that trading risks were low.
Advanced Scalper live trading account review
Live trading data on Myfxbook
At present, the system is running a live account with a deposit of €16978.39. Activities on the account began in January 2016, and as of now, a profit of €49616.87 has been made. So, the overall total gain is 862.73%. There’s a drawdown of 33.77%, which means that trading risks have increased significantly over time. The user has already withdrawn €30000 from the account.
Trading performance
From 6751 trades completed, a profit factor of 1.20 has been generated. Moreover, the resulting win rates for long and short positions are 75% and 74%, respectively. The system is more likely to make losses than profits. This is well illustrated by the average win (4.48 pips) and average loss (-8.22 pips) values that differ significantly. Trades are held for short periods—41 minutes.
Monthly profits
The robot has been making losses since January. So far, March has the highest loss rate (-10.46%).
Trading history
The EA works with large lot sizes, which increase its trading risks. Some elements of the grid and martingale approaches are evident, and huge losses have been made. TP targets are quite high, and the system hasn’t managed to meet them.
Pricing
The EA features a variety of pricing plans. For a lifetime license, the vendor asks that you pay $399. Monthly, quarterly, bi-annually, and yearly packs are available at $149, $199, $249, and $299, respectively. The vendor doesn’t provide a money-back guarantee for users.
The EA’s pricing plans on MQL5
Is Advanced Scalper a good system to rely on?
The EA is quite expensive and works with large lot sizes, along with the grid and martingale strategies.
Customer reviews
Hundreds of customers have given their opinions about the robot; some are good, and some are not. The main claims among the satisfied group are that the EA is profitable and produces healthy drawdowns. Wim is also applauded for demonstrating professionalism. However, there are others who complain about making significant losses with the system.
User reviews on MQL5
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