Summary of my Expert Advisor:
- Method - scalping, ticks and time.
- Timeframe - any.
- Indicators - none.
- Advantages - high-frequency trading, high volume trading (good for bonus and rebate account type), low drawdown, high profit factor.
- Requirements - low spreads, best VPS or high speed connection, good PC or servers.
- Symbols - EURUSD , GBPUSD, USDJPY.
- Brokers - STP/ECN.
I have some ideas to upgrade my first Expert Advisor (TheNext1) to make it one of the strongest EAs on the Market, and I find a Scalping method is one of the best ways to help TheNext1.
I publish the second EA FireBall Scalp for traders who like scalping only!
In Forex market, sharp price movements happen every day and even every hour. That is a chance for Scalping, traders can quickly enter and quickly exit with small profit in very short time! BUT SCALPING is very difficult for traders for the following reasons: no good brokers, limits on accounts, network latency between the terminal and the trading server. And there are many big traders (banks, liquidity institutions, big brokers, etc.) that are always faster than small traders!
Fireball Scalp can catch sharp moments at Forex market (normal conditions and high liquidity trading volume), quickly calculate and open or close positions with a high initial volume. My Expert Advisor can do it with a high speed, within <1 tick or even less than 100 milliseconds, so it can catch any price changes!
My Expert Advisor provides traders with the possibility to choose the best settings for real trading. For example: time for calculation of price movement range, maximum ticks within a time range, break out range, time delay for checks, etc.
Currently, this Expert Advisor can work on EURUSD, GPBUSD and USDJPY only.