Hi Traders,
Regarding other reviews online, there are plenty. I do not feel that I should post links to competing forums. Not cool. But there are out there…
Regarding your settings, goalmillion, just looking at the last few days, the trading settings seem ok. The markets are the ones that need adjustments. The last week is not a very nice one. Anyone trading anything, from stocks to Forex, can tell you that. I hope these European politicians stop playing with the fate of the euro. Not good for scalping, we need our normal quiet market during the scalping hours, when markets and politicians in Europe should be asleep, not making wild comments day in and day out.
Like I like to say: We make a great boat. But if the seas are rough, well… we don’t make the seas. We just make the boat.
Personally I have not traded the scalper in my Live account for more than a week. My rule is simple: If the US stock market goes up or down more than 2% in the day, I take them offline for the day, and I consider whether the next day it is back to normal. The last few days were just crazy, VIX at the year’s highs, just not good scalping weather.
The next update skips News Reports and No-Trade days in an automatic way. That will help avoiding these problems, without the babysitting.
But in the final analysis you are the captain of the boat. If the market is just crazy, take a break! Just good trading sense.
pastor do you realize for every one post there are 46 “lurkers” for every sigle post on this thread. Do you speak for everyone when you say none work???
I have had great success with these ea’s and I have shown proof so I guess you can’t say none.
29% in just over a month seems decent, win rate 76% and definitely in positive territory. Imagine for a minute if the market conditions were really conducive to a scalper these numbers would be off the chart. I think this software is performing well overall.
Some background for you as you are very new to the forum.
The guy who has shared about this ea is a long time contributor to this forum, ha has mastered a few techniques and learned a lot about trading.
His idea in discussing this ea is to share his success with others… and he has been good enough to encourage the developer to assist in the forum… something that is very rare indeed in the forex ea business.
This is unique…
I point out that the developer has made a very generous offer to back up his work, also unique to this business.
These points make this project and thread much different from what you have seen about other ea’s and ea developers.
You could also know… I am the first to criticize if I see something untoward in a thread.
Hi Traders,
The update has been released.
It’s awesome!
News Filter, to skip important news reports and totally hands-free No-Trade-Days handling.
Early closing on Fridays, less weekend exposure.
Time delay between closing of losing trades and opening of new ones helps in some cases avoid whipsaw.
New settings, with the help of more filters and some new functions, better results.
Some smaller SLs, where beneficial.
Completely automated set-up. Drag to chart and done, no adjustments of any kind. Truly newbie-proof installation.
The real money account is already open. We’ll set up myfxbook for it this week, and let version 7 rip!
I hope you like it as much as we do.
Happy Trading.
Yes, Gazlim
Isn’t that sweet!!!
Nothing to adjust, all presets are pre-loaded when you attach the EA to the charts.
Just to clarify to traders who have not used the version 7 update yet: each currency pair has it OWN EA.
So there is a Master Scalper for each pair, 5 Master Scalpers in total. Each one with the name of the pairs that they are set for.
For example, there is Master_Scalper_EurChf, which is pre-loaded with EurChf variables.
This includes the trading setup, TP and SLs, trading schedule, etc, including the NoTrade Days that belong to that pair.
When either the Euro or the Swissie (in our EurChf example) are getting big announcements, interest rates announcements or GDP releases, we should not scalp that pair at all. The EA knows this: that pair, that day, will stop trading 16 hours before and 16 hours after the interest rate announcement, for example.
What happens is that on the day of Euro rates announcement, the pressure is so high that traders worldwide exit the market, closing Euro positions before the news, just in case things get too volatile or out of control. This massive exit tends to trigger trends that are too strong for scalping. So the day before (16 hours before the news) the EA will stop entering NEW positions in the affected pair. It will continue monitoring existing positions as usual. Hopefully by the time the news come in, we are out of the market completely, in those pairs affected by the news release.
It will also stay out of the market for the next 16 hours (the whole day basically) since post-big-news scalping is a no-no.
Meanwhile the UsdJpy, may be having a normal trading day, since the relationship of Usd and Jpy yen is much less affected by what the Swiss or European Central Banks do about their currencies. So the EA will not stop those pairs that are not related to those news.
The Breakout Hunter has less requirements: It will stop entering new orders 1 hours before and resume trading 15 minutes after. The idea is to bypass the spikes of the report. If a new trend holds after 15 minutes, we consider it a valid breakout, and we want to be part of it.
One more note on installation: the EA can now recognize the broker data and adapt the schedule. No tweaking needed. It’s all in the past.
Welcome (to all of us) to the 21st century.
I purchased the EA last week and from Wed. evening through Friday am very impressed with what I’ve seen. But I continue to run on a demo account on my laptop at home. Looking forward I need to start considering a VPS and live broker, and realsie that my purchase covers just the single licence.
Can you advise how I would go about simply migrating the licence from my home laptop to the new VPS service as and when I complete the set up etc. (which I should stress is not something I will do rashly o/night) - just being able to select the right VPS & live broker for me is a challenge with all the various reviews available
Hi Barnov,
No problem.
When you are ready to move to the VPS send us an email
We will cancel the original Serial Number and issue a new one, free of charge.
the new version sounds awesome! I’ve been away all weekend at trade shows but this evening I will get version 7 up and running. The news and whipsaw filters sound ingenious!
I was just looking at myxbook and I noticed that for the last 61 open trades they were all winners 100% and a net total of 993.7 pips since 9.27 hows that for performance (all can be verified in myfxbook)
[B]**edit I forgot to add a pairso actually it is more like 73 trades in a row with no losers and net total pips is actually higher than +1000 [/B]
Superb effort !! I’m new to this thread and babypips.com in general. All looks great and it looks like this bot will work wonders. I have had a great communication experience from Smart FX and even opened an account with their recommeded broker, stuck £500 in and am letting the combo package run riot - Really excited about the coming months. Will keep everyone updated with my progress once myfxbook accepts the link.
