Scalping FX Robot has been developed by Craig Johnston and his team of developers. Scalping FX Robot turned a deposit of $2,000 into $363,181.01 in around a period of 7 months. The daily gain made by Scalping FX Robot was 43.83% and the monthly gain was 1310.53% with a drawdown of 1.69%. In May 2011, Scalping FX Robot version 6 was released with new parameters making this EA even more profitable with lower losses. For example the following new parameters were introduced in version 6: Min Time Between Orders, Max Lost Positions, Lag Detection, these new parameters are responsible for detecting when a broker is using a “FALSE FEED”. This happens when the broker’s prices are different then the real market prices.
This Scalping FX Robot is also being marketed as FX Ninja Robot by Craig. This Scalping FX Robot EA makes fast trades lasting a few seconds grabbing a few pips every 2-10 minutes. However you can change the settings so as to avoid trouble from the broker by over trading by increasing the period between the two trades to 15-30 minutes. Another good feature about this robot is that it will not only make money but it will also prevent you from loosing the money you made to sudden market movements that might be caused by the broker. For example, you started with a deposit of $1K and made a profit of $5K with the Scalping FX Robot.
There is a risk management function built into this robot that you can set. If you set it to 5% say, once you lose $300 from the $6K account equity, the robot will simply stop trading. This can happen especially during the night when you are sleeping and the broker decides to use some tricks to make you lose some money in the account. When you wake up, there will be a message about the problem due to which the robot stopped trading. This way even if you are away from your computer, you can feel safe that your account will not get blown out.
Scalping FX Robot is quite complex. There are other variables that you need to set when trading with this robot. The performance of the robot can vary from broker to broker. There is an ECN version available as well. The robot opens the trade in the same manner but you can change the way it closes the trade to use Take Profit, Stop Loss, Trailing Stop, Elapsed Time, Invisible Trailing Stop etc. Most forex robots work best with brokers that have slow price feeds with low spreads and instant order execution. ECN brokers usually have a fast price feed with the spread changing constantly something that many robot can’t handle but Scalping FX Robot can trade with ECN brokers as well (most of them but not all). You will need to test this robot with different brokers. A good idea is to test it with 10 different brokers.
Testing Scalping FX Robot
You should take a detailed look at performance of this robot with different brokers. Some accounts are demo and others are real accounts with investor password access. Let’s be clear. Scalping FX Robot is expensive and not cheap. But since it is being marketed through the plimus vendor system, you can be confident that if it doesn’t work, you can get a refund within a period of 30 days. So, before you purchase this robot, check with the support about their refund policy. If you get a satisfactory answer and want to try it, it would be a better idea to trade it live with a small deposit of $250 for a period of 30 days on at least one account and on the demo accounts with a few other brokers, if you don’t get good results, simply go for a refund on the Scalping FX Robot!