Think about using scalping robots to help you take advantage of every price change in the Forex market? Well, you will find such a robot on the MT4 market. It follows the strategy according to which if you place several trades in a day, you may catch more moves and have the chance to win more than with a single big one.
Working principles of the Simple Scalping EA
MetaTrader 4 Simple Scalping EA doesn’t use any indicators, but instead it places BuyStop and SellStop orders. Those orders update each time the price moves in the FX market for the currency pair you choose.
However, this is a young robot, and the developer needs to update it and improve the coding, to accommodate very fast movements of the prices in the market. Moreover, the robot needs to be restarted after an order execution, and, again, this is a programming issue.
This simple Scalping Robot for MT4 works best with major currency pairs, such as EUR/USD, but you also need to take into account what broker you use. As per the traders’ experience, it shows winning potential with brokers that have higher execution and lower spreads.
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The results of this Scalping Expert advisor depend on several variables: broker, spread, currency pairs, and speed. In order to see if this is the tool for you, you need to test it and optimize it based on the data you choose to use. With some twitching, it may offer good results as it is a simple, straight-forward robot.