Introduction
Forexfactory scalping robot, as the name suggests, is an automated trading system that utilizes scalping strategy to execute trades in the forex market. This article aims to dissect the robot's performance and results over the past year and critically analyse its functionalities, strengths, and shortcomings.Description of Functions
Forexfactory scalping robot is designed to place multiple trades with relatively small profit targets. The idea is to capitalize on short-term volatility in the market. While the specifics of this robot's functionality are not disclosed to the public, it presumably operates on a set of predetermined indicators or price patterns to identify potentially profitable trades.A further examination of its working mechanism, specifically its source code, could reveal more about its design and operation, but unfortunately, the original source code is not publicly available.
Analysis of Results
Based https://forexroboteasy.com/trading-robot/forexfactory-scalping-robot/ on the public data available, the performance of the Forexfactory scalping robot over the past year is questionable. One user, Oscar Mauricio Gonzales Pinto Gonzales Pinto, reported a stark difference between test results and real trading experience with only losses being incurred.Of course, user feedback is subjective and individual performance can vary due to a myriad of factors, but the rating of 1 is a concerning aspect that cannot be overlooked.
Pros and Cons
Pros:
-Automates the trading process, reducing the need for constant market monitoring.
-Scalping can be an effective strategy to capitalize on short-term market volatility.
-User feedback reports significant discrepancy between test and real trading results.
-Poor customer support and communication as reported by a user.
-Lack of transparency about its working mechanism.
Original Source Code Forexfactory scalping robot
The original source code for the Forexfactory scalping robot, sold on MQL5, remains undisclosed to the public. However, a basic version of the robot's code could be developed based on its general description provided on MQL5. Please note, this code is a mere approximation of the original and may not yield similar results. If you wish to explore this avenue, please pose your questions on this forum https://easytradingforum.com/Please bear in mind that EASY Trading Team does not sell the Forexfactory scalping robot. We simply provide insights and hypothetical analysis based on the information available to us.
Code:
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