In this post I will be reviewing the Dynamic Pro Scalper forex robot. The name bugs me slightly as Dynamic Scalper Pro seems to roll off the tongue better but that’s just me being fussy, I guess! Anyway, this is from the same developer who brought you the Forex Trend Hunter and Forex Pulse Detector automated forex trading systems that I have previously reviewed. I have always had an interest in Asian scalpers despite the bad rep they often get. This is primarily due to the fact they can be very broker dependant and require tight spreads, low commissions and minimal slippage. I would personally use an ECN forex broker for competitive trading conditions. In my experience, IC Markers have been one of the better forex brokers when it comes to automated trading. This is because they have a deep liquidity pool which means that you can get access to some of the best pricing in the forex market with reliable execution speeds at all times. That being said, the Dynamic Pro Scalper EA can be used on any forex broker to analyse the charts for you and managing trades. In this Dynamic Pro Scalper review, we will take a closer look at the trading strategy that it implements along with the backtests and most importantly, real results.
Dynamic Pro Scalper Trading Strategy
The Dynamic Pro Scalper is a fully automated forex trading system that runs on the MetaTrader 4 platform. It trades on 9 currency pairs which are: GBPUSD, USDJPY, GBPCHF, GBPCAD, EURGBP, EURCAD, EURCHF, USDCAD and USDCHF. With all those currency pairs being traded there can be more trades but keep in mind the more pairs you trade the more account exposure you have overall. I would be very careful with my risk exposure and only use a lot size I feel comfortable with.
As the name suggest, the entry is dynamic and thus will try to adjust according to the current market conditions which is determined through analysis of volatility. The same principles also apply to the exit criteria. The developer states that there is no minimum account balance required to start trading fully automated with Dynamic Pro Scalper but only to trade with what you can afford as trading is very risky by nature. A large majority of retail trading accounts lose money.
It is good to see that the Dynamic Pro Scalper robot takes into consideration changing market conditions because some forex robots are just too rigid and can only work in the ideal market scenario. That being said, this expert advisor can be very sensitive to broker conditions as it is so dependent on tight spreads. It also trades during hours of low volatility where spreads can be even higher than usually and you may also need to account for the rollover fee in addition to that. This means higher trading costs which can impact the performance of any forex scalping robot.
Although the Dynamic Pro Scalper EA is a fully automated forex trading robot, you could always set the software to semi-automated mode in which instance it would send you an alert when it finds a trading signal and you could decide from there if you would like to enter the market or wait for the next opportunity to come along. I would always like to perform my own additional market analysis where possible as extra confirmation for all trades. This could include technical analysis, fundamental analysis and price action analysis. Generally speaking, the more aspects of market analysis that you have covered, the more informed your trade decisions can be.
The developer has made all of the Dynamic Pro Scalper expert advisor settings externally available which means that you can adjust them via the inputs window when you attach this robot to the charts in your trading platform. You can always just use the default settings provided by the developer that have already been optimised but you should always check to make sure that the lot or risk size is set to a suitable level for your risk preferences as every trader is different in that respect.
For those of you who have the experience, you are free to experiment with the Dynamic Pro Scalper robot settings to develop your own bespoke set files. I would use the MT4 strategy tester to backtest the software across different currency pairs and chart timeframes to discover unique combination of settings that match my trading style and goals. There are recommend currency pairs to use but that does not mean you cannot run it on other financial instruments. However, if you do wish to experiment with the Dynamic Pro Scalper software, then you may want to do so on a demo account to begin with and see how things go.
Dynamic Pro Scalper Back Testing
There are some Dynamic Pro Scalper back tests on the website across 9 currency pairs. Back tests go as far back as 1999 but are not done with real spreads, commissions, slippage or swaps. Thus, they could look very different if they were done using 99% modelling quality back tests with Birts TDS in the MT4 strategy tester. This could have given an idea of the historical performance but of course would be no guarantee of future performance. For the upmost accuracy, back tests can be conducted using real tick data, variable spreads and including commission, swaps and slippage. This is especially true with a forex scalping robot such as this one which can be very dependent on these factors. Therefore, I think there is significant room for improvement in the quality of the backtests whilst I would also like to see them updated as the market conditions have changed greatly following on from the period that they cover.
Dynamic Pro Scalper Live Results
Despite the obvious limitations with the backtests, it is good to see that the developer has shared with us some verified Dynamic Pro Scalper results so that we can get an idea of how it has been performing in recent markets. However, it looks like the Dynamic Pro Scalper robot has had significant drawdown and is holding onto losing positions with the hope that they may turn around. The problem is that if they do not, this can eventually lead to a margin call and even a blown account. I therefore think that the developer could greatly improve the Dynamic Pro Scalper automated system by implementing a tight stop loss and trying to improve the risk vs reward ratio to something more favourable. This may be easier said than done as the poor money management may be what sees the expert advisor go through consecutive winners before hitting a big loss. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Dynamic Pro Scalper Summary
Overall, whilst there is some potential with the Dynamic Pro Scalper EA, I would personally avoid using this particular forex robot. I find that it is too broker dependant for my personal taste and the default money management is quite risky in my opinion. I would also like to see the developers provide 9(% modelling quality backtests to give a more accurate representation of how the EA may have performed over historical data.
I have conducted many forex robot reviews and there are alternative options that I would prefer over this EA. It does however come with instructions, full support and a money back guarantee. You could always run the software on a demo account to begin with and see how things go. Just keep in mind that demo trading conditions vary significantly from real accounts, even more so when using a scalping system that is relies heavily on low spreads and instant execution.
Dynamic Pro Scalper
$89
Pros
- Multiple Currency Pairs
- Customisable Settings
- Verified Results Provided
- 60 Day Money Back Guarantee
- Full Support
- Lifetime Updates
- Detailed Instructions
- Fully Automated Forex System
Cons
- MetaTrader 4 Only
- Limited Backtests
- High Drawdowns
- Broker Dependant
- Requires Tight Spreads
- Requires Low Commission Fees
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.
