Introduction
Welcome to the world of Wolf Scalper, a Forex trading robot that promises to make your trading life easier—or so it claims. With a mixed rating of 2.63 and user reviews ranging from no profit to turned $3,000 into $3,000,000, it's clear that this robot has its fair share of fans and critics. Let's dive into how to install and configure this robot for maximum efficiency, share some user experiences, and offer tips for improvement.
Installation and Setup
Installing Wolf Scalper is straightforward, but configuring it for optimal performance requires a bit more finesse. Follow these steps to get started:
- Download the Wolf Scalper EA from here.
- Place the EA file in the 'Experts' folder of your MetaTrader 5 directory.
- Restart MetaTrader 5 and attach the EA to an H1 chart of either EURUSD or USDJPY.
- Configure the input parameters:
- Order Comment: Wolf Scalper
- Magic Number: 123456
- Maximum Spread: 2.0
- Maximum Slippage: 3.0
- Extremum Amplitude Depth: 20
- Buy Stop Shift: 0.5
- Sell Stop Shift: 0.5
- Ensure your account has a minimum deposit of $100 and a leverage of 1:100.
- Set the EA to auto-trading mode and monitor its performance.
User Experience
User experiences with Wolf Scalper are as varied as the Forex market itself. One user, Morandi Ishikawa Igor H, bluntly stated, There was no profit. Another user, Tanawut Srisuwan, warned about the robot's reliance on ideal broker conditions, which led to significant losses over three months. On the flip side, Mohamed Emadeldin Rashad Ismail reported astronomical gains in a backtest, turning $3,000 into $3,000,000 in just three months. Clearly, your mileage may vary.
Tips for Improvement
To get the most out of Wolf Scalper, consider the following tips:
- Broker Selection: Choose a broker with low spreads and minimal slippage to optimize the robot's performance.
- Demo Testing: Always test the EA on a demo account before going live to understand its behavior and make necessary adjustments.
- Regular Monitoring: Keep an eye on the EA's performance and be ready to intervene if market conditions change.
- Avoid Overoptimization: Stick to the recommended settings to avoid the pitfalls of overoptimization.
Source Code of Wolf Scalper
We don't have access to the original source code of the Wolf Scalper robot sold on MQL5. However, we have created a sample code based on its description available on the MQL5 website. This code is an approximation and should be used for educational purposes only. If you have any questions about the code, feel free to ask.
Code:
You don't have permission to view the code content. Log in or register now.Download Wolf Scalper
If you're interested in trying out Wolf Scalper, you can download a sample version from our website. Remember, this is a code example created by the EASY Trading Team based on the description of the Wolf Scalper robot sold on MQL5. We do not sell the Wolf Scalper robot; we only provide a code example based on its description.
Feel free to share your experiences and ask questions. Happy trading!