Scalpers on fire the last month(s)
Just a quick reflection that for the past two months basically all scalpers seem to have been doing very well. I’ve re-enabled some old favorites, like FAPT50 and Forex Shocker 1.1 trading EURGBP and they’ve been doing very well. Even GBPCHF by FAPT50 have been very nice. Just watch your risk exposure, calculate the maximum you want to risk in a trade and then all EAs (possible) trades together. It is very easy to keep increasing the lot sizes in periods like this when everything is going great, leading to more risk that you actually want to take.
July at JadeFX, my main scalper account.
As you can see above July was great at JadeFX. 38% increase and just one day with negative pips (33 pips lost). The best day gave 125 pips. All trades are by scalping EAs.
My scalpers have been doing pretty good for the last 2 months as well. I’m using an asian session scalper on my main account, with a medium sized lot size, but then I also use a profit monitoring EA that will automatically close all open trades from a specific Magic number once a target profit in dollars has been met. This way, what I’m seeing is that sometimes the scalper I use has a large take profit in pips, and since it is hidden, I’m not sure of the exact criteria it uses to exit. So in effect, I use the asian scalper to give entry signals and the TakeProfit EA to close the trades.
Working pretty well so far for me - Making $8 a trade, and it usually opens about 2 trades a night, which is ok for currently a $400 account.
Sounds very good on $8 on $400. The only drawback of the setup I guess is that you can’t backtest it. Does the TP EA also monitor total drawdown?
Hi, you’re right in the fact that I can’t Back test the combination of the two EA’s. However - I’ve Backtested the scalper that I use and it’s reliably given an overall profit for a 4 year backtest. It’s just that If I can cap the profits consistently each day, then I’ll limit myself and the risk and have more control over my Money Management (which on a small account I want). Also - I’m thinking that as the lot size grows, the quicker the TP of $8 will be hit.
I’m not sure if I follow you with regards to the TP EA monitoring DrawDown. All I can see the options that it uses is that it can close all trades or based on specific Magic Numbers using Fixed Times; Profit or Loss in Pips and dollars; and can also hedge trades and open trades based on certain profit or loss etc.
Will dig out the forum link that I got it from if you interested. It’s quite reliable.