Forex Trading Scalper is a new EA out from a guy called Joseph Taylor. As you may have guessed from the name it’s a scalper EA, that runs on the 1 minute chart. It looks promising but I’m guessing it’s going to be one of those EA’s that need a broker that can accommodate tight spreads on a consistent basis for it to work.
I’ve taken the bull by the horns with this EA and have sent it to the Lab pronto to see how it really performs. Take a look below:
Test 1: Independent Strategy Testing
2000-2009 Strategy Test results show growth from $10,000 to $211,787 at 98.48% accuracy.
View full 2000-2009 EURUSD Strategy Tester results
2009 Strategy Test results show growth from $10,000 to $13,138 at 96.50% accuracy.
View full 2009 EURUSD Strategy Tester results
Test 2: Live Test
Currently running Forex Trading Scalper on Alpari UK, testing started on 24 August 2010.
NOTE: This EA doesn’t allow decimal points in the TP/SL settings. This was discovered when I first tested it. The TP was set to 5 pips but trades were closing at 50 pips. So, I ended that test and started the test below which is using a TP of 10 pips (not recommended, but this was as low as it would allow me to go. The backtests above are based on 5 pip TP). Both Back and Live tests are using 100 pip SL.
Current results are as follows:
View our Forex Trading Scalper Live Test Statement
30th September 2010:
- What appeared to be a promising EA at the outset has undermined itself through pure coding laziness. My first experience with FTS was that it wouldn’t set the SL and TP correctly, and now I have amended these it hasn’t traded at all. For this reason I have to kick FTS to the curb and Fail it.