The Scalp Trader Pro is an expert advisor that is designed for use on the MT4 trading platform. The signal calculations are based on a combination of indicators and mathematical algorithms. The EA is designed to work specifically with the EURUSD pair on the M15 timeframe, and it is optimized to identify trends using moving averages, fractals, and candlestick movement.
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In this comprehensive review of the Scalp Trader Pro, we will take a closer look at the various features of this EA and its performance over time. We will examine its strengths and weaknesses, and discuss how it can be used effectively as part of a comprehensive trading strategy. By the end of this review, readers will be able to make an informed decision about whether or not this EA is right for their trading need.
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Scalp Trader Pro Strategy
Scalp Trader Pro is an expert advisor developed for use on the MT4 trading platform. It is designed to work with the EURUSD pair on the M15 timeframe only. The signal calculations of this EA are based on indicators and math, and it identifies trends using optimized moving averages. It determines entry points based on fractals and candlestick movement, while ignoring weak trends.
Once there is a certain type of pullback in the other direction, the system will scan it with an intelligent algorithm to determine if it is temporary and signaling a continuation pattern starting. The system does not unnecessarily risk taking a bad trade and maintains a controlled frequency of trading. It uses a unique exit technology where a stop-loss is set as a precaution but is hardly ever touched due to earlier exit opportunities.
The Scalp Trader Pro strategy allows traders to trade with specified risks. It will trade only during specific volatilities, conditions, and positions of price action. There is no grid or cost averaging, and the EA trades only one trade at a time per currency pair. It is FIFO compliant, does not allow hedging, and is compatible with all leverage accounts. The trailing stop can lock in trades rapidly, and trades last a few hours on average, not days.
The strengths of the Scalp Trader Pro EA include its unique exit technology, its ability to trade with specified risks, its controlled frequency of trading, and its compatibility with all leverage accounts. However, its weaknesses include the fact that it only works with the EURUSD pair on the M15 timeframe, and traders need to use a broker with tight spreads, low commission fees, and quick trade execution speeds for the best possible chances of success.
In terms of risk management, the Scalp Trader Pro strategy maintains a controlled frequency of trading and uses a stop-loss as a precaution. Traders can also specify the level of risk they want to take on each trade. It is recommended that traders test the EA on a demo account before using it on a live account to familiarize themselves with its features and performance.
Scalp Trader Pro Features
- It is an expert advisor developed for use on the MT4 trading platform.
- The signal calculations are based on indicators and math.
- The EA works with the EURUSD pair on the M15 timeframe only.
- It identifies trends using optimized moving averages.
- It determines entry points based on fractals and candlestick movement.
- It ignores weak trends.
- Once there is a certain type of pullback in the other direction, the system will scan it with an intelligent algorithm to determine if it is temporary and signalling a continuation pattern starting.
- The system does not unnecessarily risk taking a bad trade.
- It maintains a controlled frequency of trading.
- It uses a unique exit technology where a stop-loss is set as a precaution but is hardly ever touched due to earlier exit opportunities.
- It will trade only during specific volatilities, conditions, and positions of price action.
- It allows traders to trade with specified risks.
- There is no grid or cost averaging, and the EA trades only one trade at a time per currency pair.
- It is FIFO compliant, does not allow hedging, and is compatible with all leverage accounts.
- Trades last a few hours on average, not days.
Scalp Trader Pro Settings
- Lot size: can be set to a fixed size or calculated based on available funds or risk percentage
- Stop-loss: the level at which the trade will be closed if the market moves against the position
- Take-profit: the level at which the trade will be closed with a profit
- Trailing stop: the distance from the current price at which the stop-loss will be moved if the market moves in favor of the position
- Maximum spread: the maximum allowed spread at which the EA will trade
- Risk per trade: the percentage of available funds to risk on each trade
- Magic number: a unique identifier for the trades opened by the EA
- Trading hours: the specific hours of the day when the EA will trade
- Indicators and settings: the specific indicators used by the EA and their settings
- Maximum deviation: the maximum allowed deviation of the requested price from the actual price when entering a trade
- Minimum distance to open a trade: the minimum distance in pips between the current market price and the entry price at which the EA will open a trade
- Trailing stop step: the distance between each move of the trailing stop
Scalp Trader Pro Summary
The Scalp Trader Pro is a forex scalping expert advisor designed for use on the MT4 trading platform. Its signal calculations are based on indicators and mathematical models, and it’s optimized for use on the EURUSD currency pair on the M15 timeframe only. The EA identifies trends using optimized moving averages, and then determines entry points based on fractals and candlestick movement. Its strengths include minimizing potential losses by using a unique exit technology, and controlling the frequency of trading. It allows traders to specify their risk levels and uses a trailing stop to lock in trades rapidly. It’s suitable for traders who have a good risk management plan and are looking for a tool that may be useful in specific market environments. Its weaknesses include its optimization for a specific currency pair and timeframe, and its performance may be affected by changes in market conditions. It’s recommended that traders demo test the Scalp Trader Pro and apply good risk management settings before considering it as a tool in their trading strategy.
I’m a self-confessed Forex geek who spends countless hours researching, testing, and reviewing everything related to trading. With many years of experience in the Forex industry—and thousands of robots, brokers, strategies, and courses put to the test—I’ve seen what works and what doesn’t. My goal is simple: to share that knowledge with you for free, so you can navigate the exciting (and sometimes crazy) world of Forex trading with more confidence.
