BF Scalper Pro trades on GBPUSD, EURUSD, EURCHF, EURAUD, EURCAD, GBPCAD, USDCAD, USDCHF, and USDJPY at the M15 time frame. The algorithm comes with both backtesting and live records and is available at the asking price of $117. We will analyze the product in our BF Scalper Pro review to see if it is a good choice for traders to generate stable income.
BF Scalper Pro company profile
FX Automater is the author of the product. They claim to have been working in the markets for the past 15 years but provide us with no satisfactory clues that prove the statement. This is a poor approach by the developer as traders would like to know the proper portfolio of the authors.
The highlights of BF Scalper Pro
The algorithm has the following key features:
- There is a news filter to avoid volatile conditions.
- There is an email and push notification option available.
- The algorithm supports multiple currencies.
The developer states that the robot trades on multiple currency pairs and uses the M15 time frame for analysis. It calculates the stop loss based on the ATR indicator. From the history present on Myfxbook records, we can see the implementation of averaging. The robot can be considered a day trader as the average trade duration is 22 hours and 53 minutes.
The algorithm can work on both 4 and five-digit brokers on the MT 4 platform. There is no information present on the minimum deposit and leverage traders should use.
Trading results with BF Scalper Pro
Backtesting results are available for EURAUD, where the relative drawdown was around 39.61%. The winning rate was 81.50%, with a profit factor of about 1.71.
All the tests were done on the 15 minutes chart with a starting balance of $200. The robot tanked an average profit of $9846.28 during this period. There were 3567 trades in total with the best trade being $81.48, while the worst one was -$115.17.
We have verified records on Myfxbook from May 12, 2020, till the current date. The system made an average monthly gain of 2.02% for the period, with a drawdown of 14.84%. The stated drawdown is high regarding the monthly growth giving us a bad risk-reward ratio of 7:1. The winning rate stood at 78%, with a profit factor of 2.1.
The best trade was $118.7, while the worst was -$87.53. There were a total of 1150 trades.
BF Scalper Pro packages
The algorithm can be purchased for an asking price of $117. The license is available for 1 real and 3 demo accounts. Traders also have a 60-day money-back guarantee if the product fails to show profits. The price is average compared with other grid algorithms in the market.
The developers state that traders can contact them as they like as the support is available 24/7. There are no customer reviews present on Forex Peace Army or other platforms about the algorithm or the company, which shows the lack of interest from traders in the robot.
Traders have to be beware of grid systems as they can cause a high drawdown on the account. When the market trends in one direction, they can also incur a margin call.
Is BF Scalper Pro a profitable bet in 2021?
No, it is not. As the market trends due to a major news release, the drawdown on the account can be significant. This can impact the mindset of a trader heavily.