FrankoScalp MT5 has been a topic of discussion among forex traders for over five years. It has established itself as a reliable and efficient Expert Advisor (EA) in the forex market. This review aims to provide an unbiased analysis of this trading software, its features, and its performance.
A Glimpse into the History of FrankoScalp MT5
The creator of FrankoScalp MT5 ventured into the forex market in 2012 and by 2015, had shifted his focus to automated trading systems. In 2016, the first version of FrankoScalp was released. A couple of years later, FrankoScalp MT5 was introduced, mirroring the MT4 version in terms of functionality and performance.
Longevity of FrankoScalp MT5
One of the key aspects that sets FrankoScalp MT5 apart from other EAs is its longevity. In the forex trading world, where EAs often become obsolete due to periods of losses, FrankoScalp MT5 has stood the test of time. It continues to receive updates and new sets of settings, ensuring its relevance and utility for users. This commitment to continuous improvement makes FrankoScalp MT5 a reliable tool for forex traders.
FrankoScalp MT5 Strategy
The primary strategy of FrankoScalp MT5 is scalping during quiet times, excluding the news hours. It takes into account numerous nuances based on the analysis of real account performance. Each trade is limited by a Stop Loss, making it suitable for conservative trading as it doesnโt use grid or martingale methods.
For more aggressive traders, FrankoScalp MT5 offers modified sets that use the grid and martingale methods. These sets are based on the primary sets and in 95% of the cases, the first trade is closed successfully without an averaging position. This ensures stability with a moderate amount of risk.
Setting up FrankoScalp MT5
Setting up FrankoScalp MT5 is straightforward. The EA works uniformly on any timeframe as it automatically fetches the necessary data from multiple timeframes. To activate the News filter function, users need to enable โAllow WebRequestโ in the terminal settings. This feature is particularly useful for traders who prefer to avoid trading during high volatility news events.
FAQs about FrankoScalp MT5
Q: Can I use FrankoScalp MT5 on multiple computers?
A: Yes, you can use it on up to 5 computers or Virtual Private Servers (VPS) after purchase.
Q: Does it support multiple trading accounts?
A: Yes, the number of trading accounts and terminals is unlimited.
Q: Are updates free?
A: Yes, all updates are free for life once you purchase the EA.
Independent testing of FrankoScalp MT5 is available on forexroboteasy.com. Users can also subscribe to updates on the results of testing this product. Everyone is invited to share their experiences of using FrankoScalp MT5 to help other traders make an informed decision.
In conclusion, FrankoScalp MT5 is a robust and reliable forex trading software that has proven its worth over the years. Its continuous updates and user-friendly interface make it a worthy investment for both novice and experienced forex traders.
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