Scalper GBPJPY EA MT4 – Free Download

The Ultimate Guide to Forex Trading with Scalper GBPJPY EA

Forex trading has evolved significantly over the years, with the introduction of various tools and strategies aimed at optimizing profitability and reducing risk. One such tool that has gained popularity among traders is the Scalper GBPJPY EA. In this comprehensive guide, we will delve into the intricacies of this tool, its specifications, parameters, backtest results, and the advantages and disadvantages of utilizing it in your trading arsenal.

Introduction to Scalper GBPJPY EA

The Scalper GBPJPY EA is an automated trading system designed to capitalize on short-term price movements in the GBPJPY currency pair. Employing a scalping strategy, it aims to generate profits by entering and exiting positions swiftly, typically within the span of a few minutes. Developed to operate on the 5-minute (M5) timeframe, this EA employs a trend-following approach to identify lucrative trading opportunities.

Technical Specifications

Version: 1.0
Year of issue: 2024
Working pairs: : GBPJPY
Recommended timeframe: M5
Minimum Deposit: $1000
Average of account: 1:30 To 1:1000

Best Brokers List

Scalper GBPJPY EA works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:

BROKER NAME	REGISTER	Year Founded	Headquartered	Leverage	Minimum Deposit	Regulating
	Register	2007	🇦🇺 Australia 🇨🇾 Cyprus 🇧🇸 The Bahamas 🇸🇿 Seychelles	1:1000	$200	ASIC, SCB, FSA
	Register	2008	🇨🇾 Cyprus	1:Unlimited	$10	CySEC, FCA, FSCA, FSA, BVI
	Register	2009	🇧🇿 Belize	1:2000	$10	FSC
	Register	2009	🇧🇿 Belize	1:3000	$1	IFCS
	Register	2009	🇨🇾 Cyprus 🇦🇺 Australia 🇧🇿 Belize 🇦🇪 Emirates	1:1000	$5	ASIC, CySEC , IFSC
	Register	2010	🇦🇺 Australia	1:500	$200	FCA , ASIC, DFSA
	Register	2011	🇬🇧 England	1:500	$25	CySEC
	Register	2006	🇪🇭 Ireland	1:400	$100	CBI, CSEC, PFSA, ASIC, BVIFSC, FFAJ, SAFSCA,ADGM, ISA

Scalper GBPJPY EA Settings

[About parameters]

●GMT input…Setting is required only when weekend closing is true.
●Compound interest…In the case of 100, the “rate” is 0.01 lot per 10,000 yen. 200 is 0.02 lots per 10,000 yen.

Basically, it is a simple setting where you only need to adjust the lot.

●Lot for simple interest operation: Lot for simple interest operation when the parameter "Compound interest operation" = false. 1.0 lot = 100,000 currency.
●Risk ratio: The risk ratio is as follows.

200 = 0.2 lot per 100,000 yen margin (20,000 currency)
150 = 0.15 lot per 100,000 yen margin (15,000 currency)
100 = 0.1 lot per 100,000 yen margin (10,000 currency)
50 = Margin 10 0.05 lot per 10,000 yen (0.5 million currency)
20 = 0.02 lot per 100,000 yen margin (0.2 million currency)
10 = 0.01 lot per 100,000 yen margin (0.1 million currency)

EA Explanation

• Scalping in the direction of the trend: The EA leverages market trends to execute trades, maximizing the probability of success.
• 24-hour monitoring: This EA operates round the clock, ensuring continuous surveillance of the market for potential trading signals.
• Long-term backtest results: Extensive backtesting has been conducted, demonstrating the efficacy and reliability of the EA over extended periods.

Specifications

• Max TP (Take Profit): 30 pips
• Max SL (Stop Loss): 210 pips

Parameters

• GMT input: Adjustment required for weekend closing.
• Compound interest: Determines the lot size based on account balance.
• Lot for simple interest operation: Lot size when compound interest operation is disabled.
• Risk ratio: Defines the risk per trade based on margin.

Maximum Allowable Lot

Based on past backtests, the maximum allowable lot size varies depending on domestic and overseas leverage ratios, as well as the selected risk ratio.

Backtest Results GBPJPY EA

• Currency Pair: GBPJPY
• Period: 5 minutes (M5) from February 1, 1999
• Model: Every tick
• Parameters: (MagicNumber=20101001; FixLots=0.16; Position_Comment="Trend_Scal_GBPJPY_M5_V4_EB"; Slippage=3; MaxSpread=7; ServerTimeGMT=3; UseWeekEndClose=false; WeekEndCloseTime=-1; MoneyManage=false; RiskRate=200; maxposition=4;)

Advantages of Scalper GBPJPY EA

1. High Win Rate: The EA boasts a commendable win rate, as evidenced by backtest results, indicating its ability to capitalize on market trends effectively.
2. Automated Trading: Eliminates emotional biases and human errors associated with manual trading, ensuring consistent execution of trading strategies.
3. Scalping Strategy: Targets short-term price movements, allowing for rapid profit accumulation in volatile market conditions.

Disadvantages of Scalper GBPJPY EA

1. High Frequency Trading: Requires frequent monitoring due to its scalping nature, which may not be suitable for all traders.
2. Market Conditions: Performance may vary under different market conditions, particularly during periods of low liquidity or high volatility.
3. Backtest Limitations: While backtest results provide insights into past performance, they may not accurately reflect future market dynamics.

In conclusion

The Scalper GBPJPY EA offers traders a sophisticated tool for navigating the forex markets with precision and efficiency. By leveraging its automated capabilities and adhering to proper risk management, traders can harness its potential to enhance profitability and achieve their trading objectives.

Download Scalper GBPJPY EA

Please try for at least a week an ICMarket demo account. Also, familiarize yourself with and understand how this free forex Tool works before using it on a live account.

Disclaimer: Trading forex involves substantial risk and is not suitable for all investors. Past performance is not indicative of future results.