Profitable EA 5min Scalper EA free download

[ikerowland]

Checkout the 5min Scalper EA (300% profit per month)

 

[cchong]

Thanks for sharing the EA with all of us. Any advice or recommendations on the following:
1. Minimum Account Balance?
2. Lot size?
3. Currency Pair: GBPUSD?
4. Time Frame: M15?
Any other comments (if any)....

 

[cchong]

One more thing, when I tried to set it up on MT4 account, no trades placed and a message just showed up on MT4 chart saying "This EA works best on FxOpen Broker" (please see screenshot for proof). Does it mean that we must open a FxOpen Broker in order to use this EA?

 

[cchong]

Almost 24 hours waiting and still no trades placed at all by this EA. I think this EA could possibly work with FxOpen broker only and not any other broker. Still waiting for the thread owner (ikerowland) to reply my questions.

 

[cchong]

Hmm....until now still no reply or response from the owner of this thread. Nevermind then.

WIth regards to this EA. Still no trades placed by the EA today. Chart message still remains and keep showing as " This EA works best on FxOpen Broker...". Therefore, if anyone don't want to open any account with FxOpen Broker, I don't think EA will work for you. Simple as that.

 

[cchong]

Dear all, thank God for today I've managed to open my first demo account with FxOpen broker. So far still there were no trades being placed by this EA. Will wait for next week to see what will happen. In the mean time, I still keep my old demo account using this EA with Roboforex broker just to compare both accounts and to see if this EA only works with FxOpen broker or it would also work with other brokers as well. Well, let's see what happen next then. Take care everyone and wish you all the best in your EA tests.

Last but not least, dear owner of this thread, maybe you are just too busy with other things and no time to respond to comments. Having said that however, please kindly do spend some time responding to questions asked by people and not just leave them clueless of how this EA could work so well in earning you 300% of monthly profits. Thanks and hope to receive more input from you soon on more details of this EA in terms of settings and any other important info that you would like to share with all of us.

 

[ikerowland]

Dear all, thank God for today I've managed to open my first demo account with FxOpen broker. So far still there were no trades being placed by this EA. Will wait for next week to see what will happen. In the mean time, I still keep my old demo account using this EA with Roboforex broker just to compare both accounts and to see if this EA only works with FxOpen broker or it would also work with other brokers as well. Well, let's see what happen next then. Take care everyone and wish you all the best in your EA tests.

Last but not least, dear owner of this thread, maybe you are just too busy with other things and no time to respond to comments. Having said that however, please kindly do spend some time responding to questions asked by people and not just leave them clueless of how this EA could work so well in earning you 300% of monthly profits. Thanks and hope to receive more input from you soon on more details of this EA in terms of settings and any other important info that you would like to share with all of us.

Sorry for my late response. Please ensure that you have allowed DLL in the settings.

 

[cchong]

Sorry for my late response. Please ensure that you have allowed DLL in the settings.

Thanks. Yes done already. Any recommendations on minimum account balance, time frame, currency pair and lot size used?

 

[Donify]

Thanks for sharing. Does it also work with indices? and if so, what is the minimum deposit

 

[ikerowland]

I suggest that you use backtesting optimization to find out what works for you. Personally, i am running $150 live on 5min TF.

 

[cchong]

I suggest that you use backtesting optimization to find out what works for you. Personally, i am running $150 live on 5min TF.

Thanks. What lot size are you using for your $150 live account?
Are you using a standard account or cent account? (for your info, a cent account would turn your $150 into 15000 cents as shown in your MT4 account balance.)

 

[cchong]

Thanks. What lot size are you using for your $150 live account?
Are you using a standard account or cent account? (for your info, a cent account would turn your $150 into 15000 cents as shown in your MT4 account balance.)

And what currency pair do you use? GBPUSD?

 

[cchong]

Finally, today is the day that the EA started placing some trades with both Roboforex broker account and also FxOpen broker account. That means this EA will work not only with FxOpen but also other brokers as well.

However, with regards to the the set file provided, now I've come to realize that it doesn't matter what lot size you set or use (just for your info that the value used in the set file is 0.1 lot) because what matter is the "Risk" value inside the EA parameter that will determine what lot size the EA is going to use. The value used in the set file is "85" which is super high and it immediately put any account balance at huge risks. In my case, the max. drawdown that I saw just now has reached almost 40% which is considered to quite high. Now I think I understand why 300% monthly profit is possible. Yes, it is surely possible with this high value of 85 set for the risk settings. However, that would also means that the maximum drawdown percentage would possibly be super high too which could easily blow up any account soon or later. Therefore, for me, I'm going to try to reduce the "Risk" value from 85 to 50 (or maybe even much lower later if I wish to) and to see if that helps to keep the accounts much safer in a long run. Well, that's all I can say for this EA for now. Let's just see what happen next then.

 

[cchong]

Updates: I have further reduced the 'Risk" value down to 30 now. Hope that this would help to reduce the chances of account being blown up easily. Let see how this EA perform from now on.

 

[ak476680]

it looks like it runs as martingale, is it safe to run for trend market?

 

[cchong]

This looks more like grid than martingale to me because with martingale strategies the lot size will keep increasing each time a new trade is placed and that's not what really what i saw happening with this EA. To me this EA placed trades at certain level which look more like some kind of grid trading strategy or so. I don't know, maybe I'm wrong about this too.

Anyway, not sure whether this is suitable for trending market or not. I guess only time would tell us more details and info about it. Or if anyone else knows anything please do feel free to share your experience or info with us all. For the time being, I think it's better to use demo accounts only for your best safety. Play around with the settings to see how it works and find the ones that suit you the best. Learn to manage your risks so that your profits could possibly be more secure in the long run. Be safe and stay safe as always. Take care everyone and God bless.

 

[Xila]

Checkout the 5min Scalper EA (300% profit per month)

TEST EA

 

[ak476680]

This looks more like grid than martingale to me because with martingale strategies the lot size will keep increasing each time a new trade is placed and that's not what really what i saw happening with this EA. To me this EA placed trades at certain level which look more like some kind of grid trading strategy or so. I don't know, maybe I'm wrong about this too.

Anyway, not sure whether this is suitable for trending market or not. I guess only time would tell us more details and info about it. Or if anyone else knows anything please do feel free to share your experience or info with us all. For the time being, I think it's better to use demo accounts only for your best safety. Play around with the settings to see how it works and find the ones that suit you the best. Learn to manage your risks so that your profits could possibly be more secure in the long run. Be safe and stay safe as always. Take care everyone and God bless.

Thank you, it's a good comment for the EA, if it's running martingale, Ill be so afraid of it

 

[cchong]

New updates on 1st SEPT 2021:
With the risks reduced from 85 to 30 now, the max. drawdown now that I see is 33.57% which is still considered to be a bit too risky for me. Therefore, I have also opened another new demo account today with the risk value reduced to 10 only to see how it performs in terms of safety or drawdown percentage.

As for the current FxOpen demo account, here are my settings used as follow:
Deposit: $1000
Leverage: 1:500
Time Frame: M5
Currency pair: GBPUSD
Settings:
Use the given set file but reduce the risk from 85 to 30
The rest of the settings remain as default.

Here's a screenshot of this account just for your info as follow:


That's all for now. Wish you all the best in your tests. Take care and God bless!

Blessings,
Chong.

 

[cchong]

One more screenshot to show you as follow: