First Scalper MT4

[TopicStarter]

Introduction​

First Scalper MT4 is a trading robot designed for the MetaTrader 4 platform. Despite its high rating of 4.25 based on user reviews, opinions vary significantly among traders. Some users report successful performance, while others have experienced losses. This review will analyze the strengths and weaknesses of First Scalper MT4 and compare it to the EASY Trading Team's robots, particularly focusing on their effectiveness and reliability.

Comparison with EASY Robot​

When comparing First Scalper MT4 to one of the EASY robots, such as EASY Scalperology, several differences become evident.

• EASY Scalperology:
  - Designed for consistent performance in various market conditions.
  - Offers extensive documentation and customer support.
  - Provides customizable settings for better alignment with individual trading strategies.
  
• First Scalper MT4:
  - Mixed feedback from users; some report losses, while others claim improved performance after adjustments.
  - Lacks detailed guides, making it challenging for users to optimize settings effectively.
  - Performance heavily reliant on market trends, which can lead to significant drawdowns when trends are unfavorable.

Overall, the EASY robots demonstrate more reliability and adaptability in diverse trading environments, making them a preferable choice for traders seeking consistent results.

Pros and Cons​

First Scalper MT4 Pros:
- Some users report excellent results after fine-tuning settings.
- Can operate on multiple accounts effectively for certain users.

First Scalper MT4 Cons:
- Inconsistent performance across different accounts.
- Lack of comprehensive documentation hampers user experience.
- High drawdown risk when trading against prevailing trends, as noted by multiple users.

EASY Scalperology Pros:
- Reliable performance with comprehensive backtesting results.
- Well-documented user guide and support available.
- Adaptive settings for various market scenarios.

EASY Scalperology Cons:
- Requires a learning curve to fully utilize its features.
- Initial setup may take time to optimize for each user's specific needs.

Optimal Conditions for Use​

First Scalper MT4 tends to perform better in highly volatile market conditions where quick scalping opportunities arise. Traders should monitor market trends closely; the robot may yield positive results during short-term fluctuations. However, it is essential to be cautious, as the robot can also generate substantial losses when the market is trending against its positions.

Source Code of First Scalper MT4​

It is important to note that the original source code for the First Scalper MT4 robot, which is sold on MQL5, is not publicly available. However, our team can create a code based on the descriptions available on the MQL5 site. This allows for modifications and enhancements tailored to user needs.

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Download First Scalper MT4 and Share Your Experience​

If you are interested in exploring the capabilities of First Scalper MT4, you can find more information and download options on the official page. We encourage users to share their experiences and insights about the performance of First Scalper MT4 on forums. Your feedback will help others in making informed decisions about this trading robot. For detailed statistics, visit Forex Robot Easy - First Scalper MT4.

Please feel free to reach out with any questions regarding the code or performance of First Scalper MT4. The EASY Trading Team does not sell the First Scalper MT4 robot; we simply provide a code version based on its MQL5 description.

 

[AlgoTraderExpert]

I've set up the EA on my EURUSD M5 chart, following the detailed instructions from the video. After some backtesting, it seems to have only opened a couple of trades within the last 24 hours, and those at 0200 GMT. I'm curious about the infrequency of trades. Shouldn't an EA be more active, especially in a highly volatile market like Forex?

 

[CryptoOracle]

As a user of the EA myself, I’ve placed it on my EURUSD M5 chart, just like the tutorial suggested, after doing some thorough backtesting. I was a bit surprised, though, as it only executed two trades in the last day, both around 0200 GMT. It raises a question about its trading frequency. However, it's important to remember that the number of trades largely depends on the current market conditions and how often your broker provides ticks. Instead of judging the EA based solely on daily trades, look at it over a week or a month; some days may see no trades, while others could have five, ten, or even more. Patience is key in this trading game!