Why choose a Scalping Robot?
The best scalping robots give forex traders a massive advantage to trading forex markets for profits. As we know, scalping is a forex strategy where attention to details, fast action and quick profits are all aspects that must be taken seriously. If you add the fact that a successful scalper would need to be in front of a computer for 12-18 hours each day, we realise that trading using a profitable scalping EA is very attractive.
A good scalping robot will be programmed with a pre-proven scalping strategy, risk and reward management and the ability to scalp the markets 24 hours a day to make the most of the time that the markets are open.
Any experienced forex trader will know that there are three trading session each day London, New York and Asia. Each one of these sessions presents traders enough volatility to scalp the forex markets and make money. By using a forex robot to trade for you, you can make sure that these profitable market conditions are exposed for your profit gain.
Would Scalping Forex work for every trader?
Scalping its self is a demanding strategy, newcomers to forex might find the requirements to scalp overwhelming. There are many aspects to be considered and then implemented into your trading strategy, and then there are the human limitations that you have to be aware of such as emotions, tiredness, alertness and moods such as aggressive, angry and happy that can negatively affect your forex trading results.
Trading with a Scalping Robot is so much easier as all of these aspects are not a factor as the EA will not be affected by your mood or if you are tired. Remember, it is pre-programmed to trade using a proven and successful strategy. The only thing that can affect its performance are market conditions, your brokers trading conditions and the amount of money you decide to fund to your account.
Needs your attention
Scalping will usually mean opening and closing hundreds of positions in a day, traders are usually tied to their compute or mobile device permanently in order to manage their orders and never to miss a scalping opportunity. One simple mistake can cost the trader a lot of money.
Using a profitable scalping strategy that is programmed to a Forex Robot will just mean that all of the stress of manually trading is gone for good. All the trader needs to do is set up his forex trading platform, install the robot and monitor orders and profits whenever he feels it necessary.
No experience needed to scalp forex
The best and most attractive aspect of trading using a scalping expert advisor is the fact that you don’t need years of experience, to have suffered financial losses before mastering your strategy nor do you need expertise of programming technical languages to create your robot.
All of this is already done for you; someone else has developed the perfect and profitable trading strategy. All risk to reward ratios have been considered and implemented into the EAs logic to protect funds even when the market goes against you. Finally, the programme has even been developed into an easy to use, install and operate file that simply needs plugging in to your MT4 terminal.
In a matter of seconds, you have become an expert forex trader with a market beating profit making machine...
What Does a Good Scalping Robot Cost?
A good scalping robot that works efficiently can be quite costly to purchase due to the years of work gone into developing this system that is designed to deliver profits for you!
You may be tempted to buy the “best scalping robot ever” for $99 from many sites that claim to have made millionaires and so on. The simple truth is, if it was that good, then it would cost much more that $99 to buy.
In fact, the best scalping robots are NOT FOR SALE! Instead, they are distributed by an IB that controls a network of traders and releases the EA only to subscribed members that trade at the forex broker recommended by the IB/Affiliate.
The reason for this is whilst you enjoy trading using this excellent trading tool, the IB/Affiliate will get a rebate for the forex lots traded by his EA or his referred clients.
Another way that normal traders like you and I can benefit from proven and successful forex scalping robots is through Forex Managed Accounts. This is very advantageous as the entire trading activity is handled by the professional forex account manager using his proven expert advisor to make money.
Usually, these relationships are based upon a simple performance fee payable to the manager when he generates trading profits; usually between 20-40% of the profit made is the fee. The beauty of this relationship is simplicity. No worry about trading, no robot to plug-in, no concerns as to where the market will go today. All of these aspects is left to the manager to manager and generate profit for you.
In fact, the thing that the client/investor needs to do is fund his account and monitor its growth!
Forex Scalping Manager Selection Process
Choosing your manager is a very important decision to make. You need to check the minimum investment, check the strategy, drawdown and expected returns as well as checking this against the forex managers trading history.
Experience has taught me that there are only several professional forex account managers that should be considered! They are
- Only choose a manager that DOES NOT charge a management fee. Why? Well, a manager that has no confidence in earning money from performance will charge a management fee to compensate.
- Never choose a manager will less that at least a couple of months history
- Always demand a trading statement and review the trades, is there a pattern to profit making or did he make a large profit on one or two trades and the rest were losers?
- Avoid brokers with 10’s of managers – it is obvious that all managers that apply are accepted and there is no quality filter in place to protect clients
- Choose a broker that does not over-sell PAMM or has a smaller selection of managers
- Start low (minimum) and build up ONLY when confident.
Broker Scalping Policy
If you plan to operate a scalping robot for forex, or plan to use a forex managed account for scalping you MUST check that the brokers’ policy supports profitable and aggressive forex scalpers.
A broker that does that will have no issue to answer difficult questions and will market the fact that there are “no trading restrictions£ or “EAs welcome” and “Scalpers Welcome”. This could be the most expensive error made in your forex trading journey. Be 100% sure that the broker is true STP, DMA or ECN before committing.