Forex trading has evolved significantly over the years, thanks to advancements in technology. One such advancement is the development of Forex trading software such as Channel Scalper EA. This review will provide an in-depth analysis of this real-time trading tool, focusing on its features, functionality, and performance in the Forex market.
Understanding Channel Scalper EA
Channel Scalper EA is a Forex trading software designed to trade within the Simple Moving Average (SMA) channel. It operates based on the rate of price change and market volatility, making it a versatile tool for currency trading. This software is designed to trade an hour before and after rollover, specifically from 23:00 to 01:00, making it suitable for brokers using GMT 2 in winter and GMT 3 in summer. However, if your broker uses GMT-0, the trading start time needs to be adjusted between 20:00 and 22:00.
Safe Trading Strategy
One of the key selling points of Channel Scalper EA is its safe trading strategy. The software does not employ dangerous trading strategies. Instead, each trading order is protected by a stop loss. This feature reduces the potential loss during trading, providing a safer trading environment for traders. The software is designed to trade a wide array of currency pairs, making it a versatile tool for Forex trading.
Operational Requirements
To fully utilize the Channel Scalper EA, certain operational requirements need to be met. Firstly, it requires the use of ECN accounts with a minimum overnight spread for optimal functionality. Additionally, the software needs to be operational 24/7, making it necessary to use a fully configured VPS Expert.
For the news filter to function properly, users need to add the URL ec.forexprostools.com to the list of allowed URLs. This feature helps the software to stay updated with the latest market news, which could potentially influence trading decisions.
Flexible Trading Settings
Channel Scalper EA offers a variety of trading settings, giving traders greater control over their trading activities. Some of these settings include the option to trade on specific days, the ability to close all open trading orders at a specified time, and the choice to trade market orders. The software also allows users to select their trading mode, specify the percentage of free margin, and set a fixed lot size.
Independent Testing and Updates
For those interested in the performance of Channel Scalper EA, independent testing results are available on forexroboteasy.com. The platform also allows users to subscribe to updates on the outcome of the software’s performance tests.
FAQs
Does Channel Scalper EA require a specific type of trading account?
Yes, the software requires the use of ECN accounts with a minimum overnight spread.
Does Channel Scalper EA offer a stop loss feature?
Yes, all trading orders executed by Channel Scalper EA are protected by a stop loss.
Can I control when Channel Scalper EA trades?
Yes, you can specify the start and end time for trading. You can also choose whether to trade on specific days and whether to close all open trading orders at a specified time.
We invite all readers who have used Channel Scalper EA to share their experiences. Your insights could be valuable to other traders considering this Forex trading software.
Remember, this is an independent product review. The views expressed herein are based on our analysis and do not represent the views of the software developers or providers.
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