What is the best forex scalping robot?
I can answer this honestly as a coder and vendor or Forex Robots. There are many factors that ALL need to be right for a scalping bot to work. Can they work? Yes. Unfortunately it is not as simple as a Yes/No answer.
- Your broker account is the most important, no robot will work if the broker conditions are manipulated in their favour, no matter how good the bot is. You can negotiate this if you have a decent deposit to start.
- Obviously the bot has to be good. Try and avoid bots that use martingale and grid strategies (also known as marti-grid).
- Make sure that the vendor can show a live account. This unfortunately is no longer a fool proof way of reviewing performance as EA vendors and Brokers often team up to create fake accounts to increase sales.
- If a bot is good there is no reason NOT to give clients access to a free trial. If
it works so well surely it would be part of the sales process to prove this to the client.
From the scalping robots I have tested with a live account ( good conditions ) these are the best:
- Forex Scalping Robot3.0
- AlgoTrade Soft Innovative EA
- Everex Robot
They all use a similar strategy ie : Scalping support and resistance levels with a very tight stop loss and some or other variation of a customised trailing stop.
The importance here again is the broker account, without a good broker account you have already lost when you start. The key is to contact the broker and negotiate with them. Make sure to monitor the trades to make sure conditions stay the same.
That is my 2 cents, I make money with these strategies on my live account. They work because 1. I have a good account. 2. These are the best scalping EAs on the market.