Smart Scalper 1.1 Diskussion

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Dear Traders

Here is the "Smart Scalper" Expert Advisor input parameters description.

Max_Spread
This parameter is used to determine the maximum of the allowed spread of the pair when the EA wants to open a new position.

GMT_Offset
You should set this parameter to your broker's time GMT Offset. For example if the current GMT time is 10 AM and your broker Time is 12 AM the "GMT_Offset" parameter would be 2.

MinLots
It's the minimum of the orders lot size when the EA wants to open a new trade.

MaxLot
It's the maximum of the orders lot size when the EA wants to open a new trade.

LotDigits
It's the number of the orders lot size decimal part digits.

MarginRisk
This parameter determine the orders lot size. For example if you set it to 10 then the size of the trades would be 0.1 lots for 1000$ of free margin.

TP
The take profit in pips.

SL
The Stop Loss in pips

HideSL
If you set this parameter to true then the EA wouldn't set the SL point on the trades. Use it only on ECN brokers.

Loss_Protection
If you set this parameter to true then the EA would close all trades if the equity be on specific loss which you can set on the next parameter(Max_Loss).

Max_Loss
The loss limit which be used for “Loss_Protection” function. It will be calculated on your account base currency for example 500 USD.

Daily_Profit_Limit
If you set this parameter to true then the EA would stop working if it gain an specific profit on each day which can be set on the next parameter(Total_Daily_Profit).

Total_Daily_Profit
The profit limit which be used for “Daily_Profit_Limit” function. It will be calculated on your account base currency for example 500 USD.

Time_Opened_Protection
If you set this parameter to true then the EA would close all open trades after the specific time which can be set on the next parameter(Time_Protection_Minuts) if the total profit of them be more than zero.

Time_Protection_Minuts
The time limit which be used for “Time_Opened_Protection” function on minutes.

Friday_Trading
If you set this parameter to false then the EA wouldn't work on Fridays.

First_Position_Magic_Number
The Magic Number of the first position.

Second_Position_Magic_Number
The Magic Number of the second position.

Third_Position_Magic_Number
The Magic Number of the third position.

Second_Position_Distance
The distance of the second position from the first position on pips when the trends goes on the opposite of the first trades.

Third_Position_Distance
The distance of the third position from the first position on pips when the trends goes on the opposite of the first trades.

If you have any question about the EA please contact our customer service.


Best Regards
MQLHome Group

hi JPrize, thanks for the related info.

Seemed like my copy is performing after a few days of warming up. Should this be the way?

Though we used the same broker, Alpari UK, we have the same trades as in Buy or Sell but different timing and entry price. Why? Is it because you have a different settings for Time_Opened_Protection and Time_Protection_Minutes?

Your promo says you do not use martingaling. It looks like you open a second position when the first is losing by around 30 pips and then a triple position when losing another 40 or so pips ( using about 80% of available margin . How is that not martingaling.

A built in SURE TO EVENTUALLY LOSE ALL YOUR MONEY.

icense

Forex Smart Scalper is sold for 349$ through Paypal

Will provide upgrades for one year, after that you need to pay for updates?



Strategy

Forex Smart Scalper strategy uses what appears a dynamic 150 pips Stoploss and a dynamic 10 pips target. We don’t have a copy of the EA to provide more details on how targets and stoplosses are timed and how far the EA could sink in a loss. But obviously, those 150 pips stoplosses could get hit in full if the Market moves fast enough.

We are very aware of such strategies, they are similar to startegies which use a static 15:1 Risk/Reward ratio, except that this one may take a longer time to blow-up.
And that is most likely the reason why they are showing backtests of less than one year total !



Smart Scalper Recommended Brokers

FX Open and Iam FX are two brokers to consider when trading forex robots.



Conclusion

Until they provide ATLEAST 5 years of backtest results for Smart Scalper, which we are confident they won’t dare to do so. This EA remains with a big question Mark around the stability of its performance.

The forward test however is for two months only and is on Demo. despite the fact they mark their software as “safe”, they still wont dare to invest a penny in it !!



Safe To Buy?

NO!
Forex Smart Scalper has not been approaved for purchase just for the fact they are using Paypal as a payment method (So don’t even dream of a refund if you purchase), until they provide at least 4 months of real test on real money, and post backtests for at least 5 years period. This system will remain unsafe to buy.



Forex Smart Scalper Overall Rating

hi Fredcad,

You made a good suggestion.

They did not want to trade live because Alpari UK Live account has different spread compared to Alpari UK demo. The spread on the Alpari demo is taken from Alpari Pro account which is an ECN account that require USD 20K deposit and minimum position size of 3 standard lots.

As with any scalping strategy, tighter spread is an necessity.

I'll test on IamFX.

Thanks.

Regards

Well, the EA does not work on IamFX or any ECN because this EA sent SL and TP on the same entry order.

For this EA to work on IamFX, the buy or sell order has to be placed first and then modify with the SL and TP later.

Hi, MQLHome, can you share your Smart Scalper EA setting ?

MQLHome posted:
Dear Traders

Here is the "Smart Scalper" Expert Advisor input parameters description.

Max_Spread
This parameter is used to determine the maximum of the allowed spread of the pair when the EA wants to open a new position.

kobebeef posted:
Well, the EA does not work on IamFX or any ECN because this EA sent SL and TP on the same entry order.

For this EA to work on IamFX, the buy or sell order has to be placed first and then modify with the SL and TP later.

Please send an email to the customer service to solve this problem for you. You can also set Hide_Sl parameter to true to fix this problem.

kissaki posted:
Hi, MQLHome, can you share your Smart Scalper EA setting ?

Dear Kissaki

We have shared all the input parameters. Please specify what setting do you mean.

Best Regards

Hi,

i've have on offer to everyone. I'll buy your Smart Scalper if you are not satisfied. Great, or not?

Thanks,

Csaba

Dear MQLHome,
You mentioned you've opened live account for Smart Scalper. Can we see those results?

Trading current lots a triple SL would be something like this:
1. 0.24*150 pips SL = -360$
2. 0.24*80 pips SL = -192$
3. 0.72*70 pips SL = -504$
1+2+3= -1 056$

So basically 1 triple SL will wipe 3,5 month's profit.

If we start with 1 000$ balance as they did in the beginning a triple SL would cost you:
1. 0.1*150 pips SL = -150$
2. 0.1*80 pips SL = -80$
3. 0.3*70 pips SL = -210$
1+2+3= -440$

Ouch...

THIS EA IS DANGEROUS, VERY DANGEROUS.

hello, I have an expert advisor that works very well on real account, here is my email if you want to follow the real account and the demo backtest on any terms, here is my email if you want to know more fxtradefred @ orange . com

Under what circumstances that the EA will open 3 times the lot size?

Thanks.

fredcad posted:
hello, I have an expert advisor that works very well on real account, here is my email if you want to follow the real account and the demo backtest on any terms, here is my email if you want to know more fxtradefred @ orange . com

Can you publish your real money statement on MyFXBook? Thanks.

hello, here is the result of a real account with my robot, the drawdown which occurred in was caused by smart scalping, smart scalping is dangerous and largely negative.
file:///C:/Users/fredcad/Desktop/DetailedStatement.htm

fredcad posted:
hello, here is the result of a real account with my robot, the drawdown which occurred in was caused by smart scalping, smart scalping is dangerous and largely negative.
file:///C:/Users/fredcad/Desktop/DetailedStatement.htm

You have your statement saved on your desktop and we cannot access your C: Drive.

But Smart Scalper has been generating profits for us on Alpari UK and Go Markets, both are real money accounts. Guess Smart Scalper is dependence on brokers' platforms.