- October 8, 2022
- Posted by: Forex Wiki Team
- Category: Free Forex EA
Forex 1M Scalping System Review
Forex 1M Scalping System The EA uses a clever exit algorithm that uses lesser losses when prices reverse and bigger gains when prices advance in the direction of the trade. It does not utilize any risky methods, such as a grid, martingale, stop loss, or a 10 times goal. In order to generate passive revenue for the rest of its life, this robot was designed. However, how successfully the creator accomplished this goal will be examined today.
| Terminal | MT4 |
| Currency pair | AUDCAD, AUDJPY, NZDJPY, AUDCHF, GBPUSD, GBPAUD, EURJPY, NZDUSD, EURUSD, EURAUD, EURGBP, USDCAD, AUDNZD, NZDCAD, NZDCHF, USDJPY, EURCAD, CADJPY, GBPJPY |
| Timeframe | M1 |
| Money management | At least 100 currency units for every pair |
Best Brokers ListÂ
The Forex 1M Scalping System works with any broker and any type of account, but we recommend our clients to use one of the top forex brokers listed below:
Forex 1M Scalping System Setting
Backtesting Forex 1M Scalping System
This robot trades at the beginning of the trading day, when slippage is often high for brokers and spreads tend to widen. As a result, any backtests will be ineffective because the strategy tester does not account for these variables, which are present in live trading.
Consequently, backtesting is pointless. However, this Expert Advisor has genuine account monitoring; we will publish links to it below so you may learn more about it.
Conclusion
Since the majority of brokers have a high level of slippage during the rollover period, which the bot opens trades in, it is crucial to use a broker that allows as little slippage as possible. You should search for and test various brokers that have a low slippage effect at the beginning of the transition to a new trading day in order to maximize profits.
Because of the slippage effect, when a broker tries to complete an order at the beginning of the trading day or during a news period, the order execution is delayed by a few seconds, filling the order at a price other than the one planned.
The KeltnerChannel v1 indicator, which the EA relies on, must be added to the terminal if it already isn't there. You may get both the advisor and the indicator from the URL below.
The EA is intriguing, but choosing a broker and VPS for the ideal execution of orders in accordance with its approach is highly difficult despite being possible because it utilizes pretty rigorous entry requirements. Additionally, this expert advisor includes a number of options that may be altered to provide more welcoming entrance points without the need for particular broker requirements.So, for the EURUSD pair, as an example, I changed the "if 0=smart TP" parameter to 100, "if 0=smart SL" to 50, and the "Time close all" parameter to 8.0. With these settings, I believe the adviser will be less capricious to the conditions order execution, and I quickly backtested myself with them, and the outcome was better than with the default settings.
There is no point in testing the adviser on a demo account because trading on a real account will be different from trading on a demo account with the default settings, so I advise that you become more familiar with the monitoring (we provided a link to it above), which is provided by the developer. After carefully analyzing, pick one currency the pair that produced the best results, more profit in USD, more profit in pips, and the ratio of profitable to unprofitable trades. The deposit is $100 when you choose this currency pair, place the advisor on it, and test it, or choose 2-3 currency pairs for each pair (i.e., if you place the adviser on 3 currency pairs, the deposit should be $300).
Forex 1M Scalping System Download
We highly recommend trying the Forex 1M Scalping System with ICMarket demo account. Also, familiarize yourself with and understand how this system works before using it on a live account.
Get Forex 1M Scalping System
