We intend to review BF Scalper PRO forex robot developed by FXautomater team. This expert advisor is a new expert advisor with short trading history. The points we are going to have a look are:
- Review Forex Robot BF Scalper PRO
- Download and Install BF Scalper PRO
- BF Scalper PRO Backtests
- BF Scalper PRO Updates
- BF Scalper PRO Recommendations
- BF Scalper PRO Settings
- Summary - Forex Robot Review - BF Scalper PRO
Review Forex Robot - BF Scalper PRO
BF Scalper PRO is an expert advisor which is fully automated. It supports multiple currency pairs - GBPUSD, EURUSD, EURCHF, EURAUD, EURCAD, GBPCAD, USDCAD, USDCHF and USDJPY.
The robot has reasonable SL/TP levels, including ATR based algorithm. It is professional version of another free forex robot BF Scalper EA. This system has an optional grid system which is not active by default. So, if you are keen on trading grid strategy you can activate it. The EA works with low drawdown.
In addition, this expert advisor includes strong system such as advanced news filter, volatility filter. What gets my attention about this EA is the email and push notifications system. This is not all, there is an option to use Friday exit system.
NOTE: It is strongly recommended with this EA to use brokers with good trading conditions. FXautoamter deliberately warns you not to try this EAon random brokers or accounts with micro accounts. So, you should definitely find an ECN broker with tight spreads and fast execution.
Download and Install BF Scalper PRO
The installation profess of this forex robot is easy and simple. Firstly, you should purchase it. Right after the purchase you will receive confirmation email and you will be able to download it from the member area of FXautomater official website. In the member area you have to visit "my products section" and there you will see the product. You have to click "Download" button and then install the robot using the installer.
After the installation you have to activate your account number. Account number is a unique number given by your broker, so when you open a new account in your mt4 terminal you receive account number and password to login to your metatrader 4 trading platform. So, this number is the one you have to activate in "Activation" page of FXautomater.
After the download, installation and activation you have to restart your metatrader 4 trading platform. And then you are ready, attach BF Scalper PRO on the pairs you want to trade.
Below I share backtests results which are shared in the official website of FXautomater.
1. Backtest results on EURCHF | Deposit is $200 | Net Profit: $59,286 | Profit Factor: 14.09 | Date: 1999 - 2019
2. Backtest results on GBPUSD | Deposit is $200 | Net Profit: $32,436 | Profit Factor: 3.29 | Date: 1999 - 2019
3. Backtest results on EURUSD | Deposit is $300 | Net Profit: $17,711 | Profit Factor: 2.18 | Date: 1999 - 2019
4. Backtest results on EURAUD | Deposit is $200 | Net Profit: $9,846 | Profit Factor: 1.71 | Date: 2004 - 2019
5. Backtest results on USDJPY | Deposit is $300 | Net Profit: $10,002 | Profit Factor: 1.75 | Date: 2004 - 2019
BF Scalper PRO Updates
All the updates offered by the company - FXautomater - are for free. So, you do not need to pay in the future for new releases or versions. You can keep using your license with the new versions.
In order to update your forex robot BF Scalper PRO you have to login to the member are and download the latest version(.exe file). Then follow the installation messages on the installer. After the installation you have to restart your metatrader 4 or metatrader 5(based on what you trade).
It is important after the installation to attach the new version to the charts if there are changes on the name of the .ex4 or .ex5 files. And then you are done!
BF Scalper PRO Recommendations
There are few recommendations about this EA. It is recommended to use timeframe M15 and backtest method to be M15 by every tick. In addition, as we already mentioned above it is worth to repeat that you have to find trusted ECN broker with tight spreads, no micro accounts.
BF Scalper PRO Settings
BF Scalper PRO offers SET files for the supported pairs. You can find these SET files in the official website. By default the settings are optimized for GBPUSD pair. So, you have to definitely visit the official website and download SET files for the different currency pairs.
Also, it is important to pay attention to these parameters: MondayTradingHours, TuesdayTradingHours, WednesdayTradingHours, ThursdayTradingHours and FridayTradingHours! To have good results, you have to make sure you set these values according to your broker GMT Offset. So, you have to read with an attention the parameter's explanation.
In addition, it is good to mention that there are other few very important parameters - Money Management, Advanced News Filter, Advanced Time Management System, Friday Exit System, Email and Push Notification System and Grid System (which is optional).
Money management allows you to set your risk in percentage and the robot will automatically calculate the lots size based on your account free margin.
Advanced news filter is a parameter that let you manage your robot during news. So, you can control the robot during high impact news. It is important to configure your metatrader 4 trading platform to allow WEB requests with this EA, otherwise this parameter will not work.
You can configure the robot with Advanced time management system to trade at the specific hours. Additionally, you can make the EA to trade on individual week days. So, this way you are able to avoid the most dangerous periods and trade on time when the EA shows the most successful results.
Another parameter which is useful is Friday exit system. As you know sometimes it is good practice to close trades on Friday before market close, in another words it could be dangerous to keep trades during the weekend because these trades maybe closed on big Monday gaps. BF Scalper PRO includes Friday exit system and you can configure it to close all the trades on Friday evening at the time you want.
Email and push notification system is a great tool to let you know what it is happening at real time without observing the charts non-stop. The robot will inform you about all the actions performed in the account.
And the last but not least Grid System which is optional parameter. This grid system is specially developed to make BF Scalper PRO more profitable and less dependent to the brokers. The Grid system is not active by default.
SUMMERY - Forex Robot Review - BF Scalper PRO
As a conclusion, we would say that this EA is helpful tool but it is very important to choose a broker with good trading conditions because it will bring you bad results with bad trading conditions. It is worth to test the EA.
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