Introduction
Advanced Scalper MT5, eh? It's another trading bot that's caught your fancy and you're probably wondering if it can make you the next Pablo Escobar of the forex world. Here are some numbers and whatnot to feast your eyes on. Nevertheless, let's not get too excited, after all, it's just another robot. The following guide will help you to install and configure this toy for optimal use. As much as certain users are head over heels for it, it has also managed to disappoint a few. Let's dive deeper.Installation and Setting
The installation doesn't require a degree in rocket science. Simply purchase Advanced Scalper MT5 from the MQL5 market and install it on your MT5 platform. Once installed, open the 'Navigator' panel and you'll see Advanced Scalper under the 'Expert Advisors' section. Drag and drop it on the chart of your desired currency pair and timeframe. A pop-up should appear. In the 'Common' tab, ensure Long & Short are allowed under 'Positions'.In the 'Inputs' tab, you'll see a plethora of parameters. Now, you don't need to fiddle with all of them. Concentrate on key settings like 'MaxSpread' and 'Slippage', which ensure the bot doesn't enter trades under unfavorable market conditions. Adjusting the 'Risk' level determines the lot size for each trade.
Experience of Using
As per my experience, the Advanced Scalper is not exactly the philosopher's stone. It's a scalping bot, and hence, can have a high win rate, but also comes with a significant risk. Brokers and their spreads can impact the results significantly. The bot should be used cautiously, with appropriate risk management.Improvement Suggestions
Before you start letting Advanced Scalper MT5 loose on your hard-earned money, make sure to run it in a demo account or backtest with 99.9% modeling quality. Monitor the drawdown carefully. Don't just look at the profits, kid. Pay attention to the risk per trade and always use a stop loss.Remember that results can significantly vary due to spreads, slippage, and other trading conditions. Don't go by the tester results alone, as our friend yukifune pointed out. Align your expectations with the reality of trading, not with the fantasy depicted by a flawless tester.
Advanced Scalper MT5 Source Code
Now, we don't have the original source code of Advanced Scalper, it's no open-source project. But we can always write a trading bot based on its description from the MQL5 market place. A pretty good mock-up, wouldn't you say? If you're interested in the skeletal structure of the bot, drop us a question on easytradingforum.com. However, to clarify, we are not the sellers of Advanced Scalper, just some good folks providing advice.
Code:
You don't have permission to view the code content. Log in or register now.Download Advanced Scalper MT5: Getting the Most Out of Your EA
In conclusion, whether Advanced Scalper MT5 is a hero or a zero largely depends on your broker, risk management, and settings. You may head to MQL5 and download Advanced Scalper MT5, along with a generous dose of reality check.Remember, a bot is only as good as the trader using it; it isn't a magic money machine. So, use it wisely.
- Test it extensively before deploying
- Manage your risks
- Don't let it loose on your account without supervision
