NY Close Scalper EA

NY Close Scalper EA is a fully automated forex robot that executes trades at night, particularly at the close of the daily New York trading session. It does not use dangerous strategies like Martingale or hedging when trading. In this article, we will provide a comprehensive review of the NY Close Scalper EA, evaluating its strategy, features, and settings, to help you make an informed decision on whether it is the right trading tool for your needs.

NY Close Scalper EA Strategy

NY Close Scalper EA is a fully automated forex trading robot that is designed to scalp the forex markets during the night, particularly at the close of the daily New York trading session. The EA uses a mean reversion strategy. This involves buying and selling an asset based on the assumption that it will revert back to its average price over time.

NY Close Scalper EA
NY Close Scalper EA

It is developed for the MetaTrader 4 platform and works best on major currency pairs like EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURAUD, and EURCAD. The EA can work on any time frame, but it is recommended to use it on M5 time frame as stated by the developer. It does not use any dangerous strategies like martingale, hedging, or network, and has a TP/SL for every trade.

One of the main weaknesses of the NY Close Scalper EA is its dependence on low spreads and slippage, which can be affected by market volatility and other factors that are outside the control of the EA. Additionally, it is not immune to technical glitches, server downtime, or other unforeseen issues, which could result in missed trades or losses.

However, it is important to note that night scalpers, such as the NY Close Scalper EA, can be risky due to the unpredictable nature of the market at night. Overall, the NY Close Scalper EA is recommended for traders who are willing to take on the risks associated with night scalping. Traders should also be familiar with how the EA works and test it on a demo account before using it on a real account.

NY Close Scalper EA Features

  • Fully automated forex trading robot
  • Uses a mean reversion strategy to scalp the forex markets during the night
  • Does not use any dangerous strategies like martingale, hedging, or network
  • Uses a TP/SL for every trade
  • Can work on any time frame and on unlimited demo and live accounts
  • News filter to avoid trading during important events
  • Has daylight saving times stored internally, so there is no need to adjust trading hours manually
  • Fixed stop losses are in place for every position to manage risk.

NY Close Scalper EA Settings

  • Magic Number: A unique identifier for each instance of the EA, to differentiate it from other EAs or manual trades.
  • Lot Type: The type of lot size calculation, either “fixed” or “auto.”
  • FixLots: The fixed lot size for each trade if “fixed” lot type is selected.
  • Lot Step: The minimum step size for increasing or decreasing the lot size if “auto” lot type is selected.
  • EquityPerStep: The amount of equity required for each lot step increase if “auto” lot type is selected.
  • EquityHard Stop: A hard stop for the account equity in account currency. If the account equity drops below this level, the EA will stop trading.
  • PipInPoints: The pip size for the account currency. This is used to calculate the lot size and stop loss value in pips.
  • SlippagePoints: The maximum allowable slippage in pips for opening a trade.
  • MaxSpreadPipsEURUSD: The maximum allowable spread in pips for the EUR/USD currency pair.
  • MaxSpreadPipsOthers: The maximum allowable spread in pips for all other currency pairs.
  • LiveGMToffset: The offset from GMT time for the live trading account. A value of “99” indicates that the offset is automatically calculated.
  • SkipSunday: If set to “true,” the EA will not trade on Sundays.
  • StartHourGMT: The hour of the day in GMT time when the EA starts trading.
NY Close Scalper EA Settings
NY Close Scalper EA Settings

NY Close Scalper EA Summary

NY Close Scalper EA is a fully automated forex trading robot that uses a mean reversion strategy to execute trades at nighttime. One of its strengths is that it is fully automated and does not use any dangerous strategies such as Martingale, hedging, or networking. However, the NY Close Scalper EA has some weaknesses that traders should be aware of. It is highly dependent on low spread and slippage. Also, its strategy involves trading around swap times which can cause the spread to become very large, which can be risky for some traders.

It is worth considering for both novice and experienced traders who are looking for a forex trading robot. Before using the NY Close Scalper EA, it is recommended to demo test it for at least a week to get familiar with how it works and to apply good risk management settings.

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