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Forex Trading Scalper

Posted by Cam Forex on Jul 12, 2010 | 2 Comments

forex-trading-scalperForex 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:

lab-results

Test 1: Independent Strategy Testing

2000-2009 Strategy Test results show growth from $10,000 to $211,787 at 98.48% accuracy.

backtest2000-2010View full 2000-2009 EURUSD Strategy Tester results

2009 Strategy Test results show growth from $10,000 to $13,138 at 96.50% accuracy.

backtest2009View 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

Lab Result:

pass-fail

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2 Responses to " Forex Trading Scalper "

  1. Craig says:
    August 23, 2010 at 7:11 am

    what kind of TP/SL you using here? it SEEMS like quite a nice one?

    Overall Not Rated
  2. Cam Forex Cam Forex says:
    August 23, 2010 at 11:43 pm

    Good point!

    I have TP set to 5 pips and SL set to 100. But it appears that all the TPs that have been hit are about 50 pips and there’s currently one trade in Draw Down of 157 pips. So I can only deduce that the SL and TP settings need to be divided by 10…

    It was good of them pointing this out in the manual… not (and these were the default settings!). I’m running it on a 5 digit broker so this is probably where the problem is.

    I’ll wait until the open trades have closed out and start this test again, resetting the TP to .5 and SL to 10.

    Sorry about that guys.

    Overall Not Rated

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