Introduction
In the trading ecosystem, the Extremum Scalper has made quite a name for itself, if we are to believe some user testimonials. This trading bot purportedly scalps miniature profits in the forex market, but with a catch - it's more intelligently designed than your average scalper. As the bar-code inventor, Bernard Silver, famously said, To invent, you need a good imagination and a pile of junk. Suffice to say, the Extremum Scalper seems to have been created from the junk of failed scalpers to form a more intelligent trading robot.
Installation and Configuration
To install the Extremum Scalper, you'd typically download the trading bot from the MQL5 website. However, remember that the real genius lies not in acquiring the bot, but in configuring it to your trading conditions. Each market is unique with its plethora of pairs, brokers, and volatility. You are free to experiment and find the ideal settings for your chosen market, coerced only by the limits of your imagination (and of course, your balance).
The default settings seem to perform quite well on certain futures, like the Euro and Gold, according to reks13. However, Denis Oleynik prefers to employ the scalper on major currency pairs, specifically EURUSD, USDJPY, and AUDUSD. But this isn't a one-size-fits-all scenario. Your trading conditions might necessitate a completely different configuration.
Experience of Using
It's worth noting the feedback from our users. Despite slight differences in their trading conditions, users appear to be largely satisfied with the bot's performance, with a prevailing feeling of skepticism-turned-admiration. The bot seems to provide a decent success rate, as Valter Oliveira mentioned, while handling various markets and configuring possibilities to one's liking.
However, our Thai friend, Money789, did face a spreading error, which inhibited order execution. While we are glad that the bot is preventing trades in unfavorable spreading conditions, this does raise a flag. After all, what good is a trading bot that can't trade?
Improvement Tips
The scalper is designed to take advantage of market inefficiencies, but its efficiency also depends on your configuration. While the settings provided by the developer seem to work well for most, we highly recommend that you back-test the bot on your desired market before letting it loose on your live account. An ounce of prevention is worth a pound of cure, after all.
The Source Code of Extremum Scalper
We must inform you that the actual source code of the Extremum Scalper is unknown. What we've created is an MQL5 code based on the description provided by MQL5 where the original bot is sold. It is essentially an imitation of the real thing, much like a sketch of the Mona Lisa. We invite you to scrutinize this code at easytradingforum.com, and feel free to ask us any questions you might have.
Code:
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If you're intrigued by the Extremum Scalper and wish to give it a test-run, you can download it from the MQL5 website. Just remember, the EASY Trading Team does not sell the Extremum Scalper. We've only created a code based on its description, and thus, all queries related to the bot should be directed to the official source.
In conclusion, the Extremum Scalper looks promising indeed, and as professional traders, we look forward to seeing how this bot evolves. As always, trade with caution and never risk more than you can afford to lose.
