LowRiskScalper Advisor. Forex Grail or just another paid dud?
The active popularity of the Forex exchange among the population, as well as the uncontrollable desire to make money in this field, has caused a new phenomenon - the emergence of sellers of profitable advisors.
Actually, the appearance of paid algorithms is not surprising, because the market law works quite well, namely, if there is demand, then supply will definitely appear.
Naturally, with the active popularity of robotic trading, hundreds of sellers have appeared who are ready to sell their brainchild for a couple of hundred, or even thousands of dollars.
The most interesting thing is that there is practically no difference between cost and efficiency. correlations, and the buyer, as a rule, buys a pig in a poke.
It is also increasingly possible to see how paid advisors are given out for registration via an affiliate link, attracting more and more attention from the user.
Actually, at the end of this article you will find only a demo version of the Expert Advisor, but a further test of it will tell you whether it is worth getting involved with this development at all.
Installing the LowRiskScalper advisor
In order to install the advisor, go to the end of the article and download it. Next, you will need to gain access to the system folders of the trading terminal. To do this, go to the file menu of the trading platform and launch “Data Catalog”.
You should see a list of system folders, among which you will need to find a folder called expert and drop the downloaded LowRiskScalper advisor into it.
Next, close all system folders and update the terminal in the navigator panel. After you restart the trading terminal or update the advisor should appear in the “Advisor” section, and in order to start trading, just drag it onto the fifteen-minute chart of the euro/dollar currency pair.
LowRiskScalper strategy and settings
The developer of the advisor practically did not mention anything about the robot's strategy; the only thing that the author himself brought out in the description of the development was that the advisor opens trades based on an indicator strategy, as well as an analysis of the previous bar.
Thus, the strategy does not redraw signals, which makes it possible to carry out testing using the “Control points” method. And get exactly the same result as using the “All ticks” method. This approach significantly speeds up the process of testing and optimizing the advisor.
If you look at the set of settings, you will notice that the author brought out practically nothing that could affect the advisor’s strategy. So, in the Choose moneymanagement line you can trust automatic (dynamic lot calculation) or static.
If you prefer a static lot, then select False in this line, and if dynamic, then leave everything as is. In the process of dynamic lot calculation, a simple proportion is used, namely 0.4 lots for every 10,000 of deposit. To change this proportion, indicate the lot size Take this lot at and also the deposit size in the line this count of deposit.
The Min Lot line allows you to set the minimum lot, which the advisor should work with (this function allows you to trade on a micro account despite the MM being enabled). In the TP and SL line you can change the size of order stops and profit. I would like to note that the profit is 3 times less than the stop order, which is good.
Preliminary test
Since the advisor was developed for the Euro/Dollar currency pair, we decided to test it using control points for the entire 2015 on a fifteen-minute chart. For objectivity, the settings were not changed, and the result can be seen below:
As you can see from the result above, the advisor recorded more than 200 percent profit, which is an excellent indicator for any scalper. However, it is worth paying attention to the fact that the advisor clearly works perfectly only in one market state, either along a trend or in a flat, which can be seen in the form of a change in the yield curve.
In conclusion, I would like to note that the price of the Expert Advisor is clearly taken from the ceiling, and by purchasing it you will become the owner of a pig in a poke, since you will not be at all familiar with the Expert Advisor’s strategy, and you will also not be able to influence its work by changing the settings.
In addition, the advisor is not recommended to be used without a preliminary test cent accounts, the risk of losing the deposit is quite high.
Download Expert Advisor LowRiskScalper Advisor