The Crazy Scalper EA robot stands out from others as it doesn’t rely on any indicators to make trading decisions. Instead, it utilizes a scalping system that simultaneously trades in both buying and selling directions.
In this article, we will provide a comprehensive review of the Crazy Scalper EA, detailing its features, settings, performance, and limitations. By the end of this review, you will have a better understanding of how this trading robot works, and you will be able to decide if it suits your trading needs.
Crazy Scalper EA Strategy
The Crazy Scalper EA is a trading robot that is designed to trade the forex market without using any indicators. Instead, it uses a scalping system that trades in two directions simultaneously, buying and selling at the same time. This approach can be risky because two opposite positions cannot bring profit at the same time, and one of them will always be losing. To address this issue, the Crazy Scalper EA uses a lock system to minimize losses.
The lock system works by using a hedging strategy to prevent big losses. If there is a losing position, the robot uses a lock to prevent further losses. If the locking position fails and the price reverses to the opposite direction, the robot moves it to break even using the averaging system and pending orders. This helps to minimize losses and maximize profits.
The Crazy Scalper EA is designed to work best on three currency pairs, EURUSD, GPBUSD, and AUDUSD. However, it can work on any pair, and the timeframe does not matter. Traders should keep an eye on high-impact news and turn off the EA during these times to avoid potential losses.
To reach stable results, the Crazy Scalper EA should work 24/7 on VPS. The developer recommends running this free forex EA on a reliable forex VPS to ensure that it runs continuously without any interruptions. A low spread account with a good broker like IC markets is also recommended.
Before using the Crazy Scalper EA in a live account, it is essential to test it in a demo account for at least a month. This will help traders to familiarize themselves with the EA’s working mechanism and gain confidence in its performance. Once traders understand how the Crazy Scalper EA works, they can use it in a real account to automate their trading activities and potentially earn profits from the forex market.
Crazy Scalper EA Features
- No use of indicators: The Crazy Scalper EA does not use any indicators to analyze the market. Instead, it uses a scalping system that trades in two directions simultaneously, buying and selling at the same time.
- Hedging strategy: The EA uses a lock system to prevent further losses if there is a losing position. If the locking position fails and the price reverses to the opposite direction, the robot moves it to break even using the averaging system and pending orders.
- Currency pair: The Crazy Scalper EA is designed to work best on three currency pairs, EURUSD, GPBUSD, and AUDUSD. However, it can work on any pair, and the timeframe does not matter.
- High-impact news: Traders should keep an eye on high-impact news and turn off the EA during these times to avoid potential losses.
- VPS: To reach stable results, the Crazy Scalper EA should work 24/7 on VPS. We recommend running this free forex EA on a reliable VPS to ensure that it runs continuously without any interruptions.
- Low spread ECN account: A low spread ECN account like IC markets is also recommended to ensure that traders can benefit from the EA’s scalping strategy.
- Demo account: It is essential to test the EA in a demo account for at least a week before using it in a real account. This will help traders to familiarize themselves with the EA’s working mechanism and gain confidence in its performance.
- Easy to use: The Crazy Scalper EA is easy to use and does not require traders to have any prior programming knowledge.
- Customizable settings: The EA’s settings can be customized to suit traders’ preferences and trading styles.
- Stop loss and take profit: The EA includes stop loss and take profit levels to help traders manage their risk and maximize profits.
Crazy Scalper EA Settings
- TakeProfit = 3; – the take profit level in points;
- Lock_Level = 22; – the distance in points where locking orders will be placed;
- coef_l = 1.8; – lot multiplier for the locking order;
- TakeProfit_Av = 10; – the total profit level of all open orders;
- AV_Level = 50; – the distance in points where an averaging order will trigger;
- OR_Level = 24; – the distance from the current price where an averaging pending order is placed;
- coef_av = 2.0; – lot multiplier for the averaging orders;
- Lots = 0; – the volume of orders, if = 0 MM is used;
- Risk = 0.3; – the percent used for the Money Management;
- Choice_method = false; – the MM method; percent of equity or of balance;
- NumberOfTry = 5; – number of trade attempts when a broker returns requotes;
- Slippage = 3; – the level of slippage;
- MagicNumber = 1975; – order magic number;
- MarketWatch = false; – placing profit and loss levels by way of modification;
- Show_Information – enable or disable the information panel and comments;
- CommentsCount – the number of comments;
- StopLoss_Percent – stop loss level in percent;
- color_background – background color;
- color_text – text color;
- color_negative – color of negative values;
- color_positive – color of positive values.
Crazy Scalper EA Summary
From my personal experience, the Crazy Scalper EA is a considerable trading robot that operates using an automated scalping system without relying on any indicators. This makes it stand out from other automated trading tools available in the market.
One of the strengths of this EA is its ability to trade in both buying and selling directions simultaneously. Additionally, the use of a locking mechanism and averaging system can help manage losing trades and minimize losses.
However, it’s worth noting that the Crazy Scalper EA is not a guaranteed profit-making machine, and there are limitations to its performance. It’s important to demo test the EA and apply good risk management settings before using it in a live trading account. In terms of cost, the Crazy Scalper EA is free to use, but it’s recommended to run it on a reliable VPS for stable results, which may incur additional costs.
Overall, the Crazy Scalper EA can be a considerable tool for traders looking to automate their trading strategies and potentially increase their profits. However, it’s important to have a realistic expectation of its performance and use it in conjunction with good risk management practices.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.