Introduction
Scalping Project EA, a trading robot developed by BM Trading GmbH, has been in the market since October 2022. With a rating of 3.62, it promises a scalping breakout strategy for EURUSD and USDJPY pairs on the M15 timeframe. Let's dissect its features, performance, and user feedback to see if it lives up to the hype.Description of Features
Scalping Project EA employs a scalping breakout strategy, identifying relative highs and lows using a customizable sensitivity parameter (BarsN). It places stop orders just beyond these points for rapid execution. Key features include:- Customizable order puffer points to set the distance from highs and lows.
- Adjustable trailing stops to secure profits dynamically.
- Settings to enable or disable buy and sell trades.
- Risk management through stop-loss and take-profit settings.
- Lot size calculation based on fixed lots or a percentage of the balance.
Performance Analysis
The backtesting results provided by the developers show potential for consistent gains, but the average profits per trade are relatively small. User reviews are mixed:- Joshep The Trader: Low Gains with hard losses, using month and a half but naah lot of risk for poor profits, i dont blame the programer but today was the last looses that ill support, sadly i didnt recover the investment.
- Imie Nazwisko: Great EA, clear vision of tool. Predictable results. Go live since January 23 and Iam happy with results.
- Cobus van: I have been using this EA for a week now on a live account and very satisfied with the results. I don't expect it to get crazy results but rather some consist uptick on my account. I did quite a bit of optimization testing to find the pairs on which it works best and to find the setting that is optimized for each pair. I will update with another review after some months of experience.
Pros and Cons
Pros:- Customizable settings for various trading styles.
- Effective risk management features.
- Optimized for low spread and commission brokers.
- Mixed user reviews indicating inconsistent performance.
- High risk per trade setting (5%) used in backtests.
- Requires significant optimization for best results.
Conclusion
Scalping Project EA offers a flexible and customizable trading solution, but it is not without its flaws. The mixed user reviews and the need for extensive optimization suggest that it may not be suitable for all traders. For those willing to invest the time in fine-tuning the settings, it could be a valuable tool. However, always approach with caution and test thoroughly on a demo account before going live.Source Code of Scalping Project EA
We do not have access to the original source code of Scalping Project EA sold on MQL5. However, based on the description provided on the MQL5 website, we have created a sample code. If you have any questions about the code, feel free to ask. This example code is from easytradingforum.com, and our team does not sell Scalping Project EA but provides this code based on its description.
Code:
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