The FX Max Scalper is an automated trading system that utilizes a unique combination of volatility and standard deviation channels to scalp trades and determine entry and exit points. The EA works solely on the GBPUSD currency pair in the 1-hour time frame.
In this review, we will delve into the features of the FX Max Scalper and assess its strengths and weaknesses to help you decide if it is the right trading system for your needs. Whether you are a seasoned trader or a beginner, this review will provide you with the information you need to make an informed decision about whether to use the FX Max Scalper.
FX Max Scalper Strategy
The FX Max Scalper is a fully automated trading system that employs a unique combination of volatility and standard deviation channels to scalp trades based on the GBPUSD currency pair on the 1-hour time frame. This trading system’s signals are then calculated through the use of mathematical calculations and indicators.
One of the main strategy of the EA is it uses a unique combination of volatility and standard deviation channels to intelligently scalp trades. When the pound hits the bottom of the channel, the system goes long. The system then uses the channel to determine when to exit the trade, with the protection of trailing stops. Similarly, whenever the pound hits the top of the channel, the system goes short. The system uses the channel and trailing stops to determine when to exit the trade.
The strength of the Max Scalper EA lies in its low-risk-to-reward ratio, short consistent trades, and the use of a special profit lock algorithm to keep winning trades from turning into losing positions. The system is carefully calculated in its trade entries and exits, maintaining a controlled environment while trading. The use of trailing stops and the sophisticated exit technology ensures that trade exits are not too small that it causes the system to succumb to minor slippage.
However, the weaknesses of the FX Max Scalper EA are that it can only work with GBPUSD currency pair on the 1-hour time frame, limiting its versatility. Also, because it is a scalper, the system’s success depends on low latency and tight spreads, making it vulnerable to slippage. Traders should use proper risk management techniques and test the EA on a demo account before using it in live trading.
FX Max Scalper Features
- Fully automated trading system
- Trades GBPUSD currency pair on 1-hour time frame
- Uses a unique combination of volatility and standard deviation channels to scalp trades
- Signal calculations are based on indicators and mathematical formulas
- Low risk to reward ratio
- Short, consistent, and frequent trades
- Maintains a safe and controlled frequency of trading to protect account balance
- Utilizes a special profit lock algorithm to keep winning trades from turning into losing positions
- Sophisticated exit technology to minimize losses
- Controlled environment while trading by only trading during specific volatilities, conditions, and positions of price action
FX Max Scalper Settings
- Lot size: the size of each trade
- Max orders: the maximum number of trades that can be open at the same time
- Stop loss: the maximum amount of loss that the EA is willing to accept before closing a trade
- Take profit: the profit level at which the EA will close a winning trade
- Trailing stop: a stop loss that automatically adjusts as the trade moves in favor of the user
- Time filter: a feature that allows the user to specify a time period during which trades will not be executed
- Magic number: a unique identifier assigned to each trade for tracking purposes
- Max spread: a filter that prevents the EA from trading during high spread conditions
- Breakeven: a feature that allows the user to move the stop loss to the entry price when a trade is in profit
- Open opposite trades: a feature that allows the EA to enter trades in the opposite direction if conditions are met
- Trade comment: an optional comment that can be added to each trade for tracking purposes
- Lot size calculation: a feature that allows the EA to calculate lot size based on account balance and risk tolerance.
FX Max Scalper Summary
The FX Max Scalper is a fully automated trading system that employs a unique combination of volatility and standard deviation channels to scalp trades based on the GBPUSD currency pair on the 1-hour time frame. Its signals are calculated through the use of mathematical calculations and indicators.
However, its weaknesses include the limitation to the GBPUSD currency pair and 1-hour time frame, and vulnerability to slippage due to being a scalper. Traders should test the EA on a demo account before using it in live trading. The FX Max Scalper is suitable for experienced traders with low latency and tight-spread trading conditions.
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