Introduction
Let's face it, trading robots are a dime a dozen, and most of them promise the moon. Rapid Reaper EA claims to be different. With a user rating of 4.75 and a plethora of mixed reviews, it's time to throw this thing on the grill and see if it sizzles or fizzles.
Installation and Setup
Setting up Rapid Reaper EA is as simple as setting up any other EA, but hey, I’ll spell it out for you just the same.
- Download the Rapid Reaper EA file from here.
- Copy the file to the ‘Experts’ folder in your MetaTrader 5 directory.
- Restart or refresh MetaTrader 5.
- Navigate to the ‘Navigator’ panel, and you should see Rapid Reaper EA under ‘Expert Advisors’.
- Drag and drop it onto the chart of your chosen currency pair.
- Make sure ‘Allow automated trading’ is checked in the settings.
Is it rocket science? No. Could a monkey do it? Maybe. But here you go, a step-by-step guide for the uninitiated.
My Experience Using Rapid Reaper EA
I've seen it all – from bots promising to turn pennies into fortunes to those that drain your account faster than a Vegas casino. Rapid Reaper EA, I'll admit, isn't the worst out there.
Rapid Reaper EA shows some promise. Following the default settings, it seems reasonably safe. Users like sanoj even claim a profit gain of 40% in one month with default settings. Of course, you'll find people like cpauna who just love to hate. But hey, if it works for some, it might work for you.
Tips for Improvement
Want to squeeze a bit more out of this robot? Sure, let me break it down.
- Test Before You Invest: Always run backtests and demo accounts before going live. Remember, sanoj blew out one small account while testing with non-default settings.
- GBPUSD Tips: If you're trading GBPUSD, consider setting the Take Profit to 9 pips. According to sanoj, it yields better results.
- Drawdown Recovery: Turn the Drawdown Recovery to True in GBPUSD settings. Apparently, it's set to False by default, which isn't ideal.
- Stay Updated: Always look for updates from the developers or user reviews for any tweaks or improvements.
Just a few nudges to make your ride a bit smoother.
Source Code of Rapid Reaper EA
Curious about the source code? Tough luck. The original source code for Rapid Reaper EA isn't available for sale. However, if you're itching to see how it works, you can always take a crack at coding your own version based on descriptions and parameters available on MQL5.
We at EASY Trading Team don't sell Rapid Reaper EA but have created a version based on its description. Feel free to ask us questions if you run into any coding hitches. Just so you know, this is an example code from easytradingforum.com, not the original.
Code:
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In conclusion, Rapid Reaper EA isn't the holy grail, but it's not a total scam either. With a bit of tweaking and cautious trading, it might just be the robot you need. Download it here and give it a whirl.
If you're still not convinced, well, there's always knitting.