The Royal Prince Scalper EA is a an automated EA robot designed to cater to the needs of traders in the foreign exchange market. It is a MT5 Scalper EA that is available for free download. The EA employs a scalping strategy that allows it to identify and execute short-term trading opportunities in highly volatile currency markets. The Royal Prince Scalper EA utilizes advanced algorithms to analyze the market and execute trade accordingly.
Royal Prince Scalper EA Strategy
The Royal Prince Scalper EA is built on a robust trading strategy that avoids the use of some avoidable techniques such as martingale or grid. Instead, the EA employs an approach that each trades are executed with the usage of Stop Loss and Take Profit orders. The EA is configured to trade with a fixed lot size or an automatic lot size.
The Royal Prince Scalper EA is designed to trade in a low frequency, opening a maximum of 2 to 5 trades per week, and can go days without trading if market conditions are not tradeable. Additionally, according to the EA developer, it never opens more than one trade in the market at a time.
Royal Prince Scalper EA Features
- Requires a minimum account balance of $100, according to the developer.
- The EA’s default settings are optimized for the EURUSD currency pair and the H1 timeframe.
- Flexible and compatible with multiple currency pairs and timeframes.
- It is recommended to keep the MT5 Scalper Robot online for 24 hours for better performance, according to the developer.
Royal Prince Scalper EA Settings
- Lots 0.1
- RiskPercent (0 = Fix) 2.0
- OrderDistPoints 200
- TpPoints 200
- SIPoints 200
- TslPoints 10
- TslTriggerPoints 10
- Timeframe 1 Hour
- BarsN 5
- ExpirationHours 50
- Magic 111
Royal Prince Scalper EA Summary
Overall, the Royal Prince Scalper EA is a robot which uses the scalping strategy, can identify and execute short-term trades in highly volatile currency markets, thanks to advanced algorithms that analyze the market and make trades accordingly.
It avoids using any dangerous strategies such as martingale, grid or money management and the developer has shared some back tests for you to get an idea of how the Royal Prince expert advisor has performed over recent years through different market conditions.
It is highly recommended to use the Royal Prince Scalper EA on a demo account. While the EA is designed to minimize risks, there is always a chance of drawdowns, and traders should be aware of the potential risks before using the tool. It is important to remember that past performance is not indicative of future results, and caution should always be exercised when trading in the foreign exchange market.
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