Delving into the world of Forex trading, we come across an interesting product known as the Scalping EA Breakout Top and Bot MT5. This automated trading tool operates on a scalping breakout strategy, a method designed to secure profits in the Forex market.
Understanding the Breakout Strategy
The Scalping EA Breakout MT5 primarily trades breakouts from the previous relative highest and lowest. In essence, it capitalizes on significant price movements that follow these breakouts, potentially allowing traders to secure profits in a relatively short timeframe.
Features and Functionalities
One of the standout features of this Forex robot is the adjustable trailing stop. This specific feature allows profits to be secured automatically, a benefit for traders who may not always be able to monitor their trades. Moreover, the EA comes with an implicit stop loss feature, which automatically closes the order when it reaches the input stop loss points.
Backtesting Results
Backtesting is a crucial part of assessing the performance of any Forex trading tool. For the Scalping EA Breakout MT5, backtests have been conducted using default settings. However, it’s important to note that these settings may not reflect the best or worst performance that the EA can offer. It is recommended for traders to download the free demo and conduct their own testing across all pairs for a comprehensive understanding of the EA’s performance.
No Use of Martingale or Grid Functionalities
Worth noting is that the Scalping EA Breakout MT5 does not use any martingale or grid functionalities. This is a significant advantage as these methods can often lead to increased trading risks. The backtests conducted were done with a 5% risk per trade, which is considered a relatively high risk in Forex trading.
Recommended Broker and Server
For the optimal performance of the Scalping EA Breakout MT5, it is recommended to use brokers that offer ECN or Raw accounts with minimum spreads. Additionally, using a VPS server can contribute to the stable operation of the Expert Advisor.
FAQ
Where can I watch independent testing of this product?
Independent testing of the Scalping EA Breakout MT5 can be viewed on the forexroboteasy.com website.
Can I subscribe to updates on the results of testing this product?
Yes, subscriptions for updates on the testing results of the Scalping EA Breakout MT5 are available.
Can I share my experience of using this product?
Absolutely! Sharing personal experience of using this product can greatly benefit other users and potential buyers.
In conclusion, the Scalping EA Breakout MT5 offers a unique approach to Forex trading with its breakout strategy, adjustable trailing stop, and implicit stop loss features. However, potential users are advised to conduct thorough backtesting and utilize the free demo for a comprehensive understanding of the product. Remember that this independent product review is written in the third person and does not promote any product as “our” or “my” product.
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