No martingales needed, just a simple but excellent proven strategy with fixed trade management settings.
- A purely mechanical system. Simply set and leave.
- No martingale.
- Risks are small per trade.
- An optional automatic lot adjustment feature that adjusts lot size to the account balance. Or to use a fixed lot size.
- Features a panel showing, bid, ask, spread, lot size balance, equity, profit/loss, stop level and broker execution speed. To find broker execution speed we press button Execution Reading.
- Magic Number - A unique value to this EA so that if used alongside other EA's within MT4 it can differentiate between all orders placed and only adjust orders placed by this EA.
- Slippage - If trade is opened and its past the expected price of trade by x points as specified here then the trade will not be opened.
- Lot Size - Adjusts the size of trade exposure we have. EG 0.01 on the EURUSD will mean every micro incremental point move will equal 1 pence. FIXED AT 0.01 LOTS IN FREE VERSION
- Maximum Spread - Allows only trades when market is less than or equal to the spread as input by user.
- Stop Loss - Sets the size of stop loss from opening order price.
- Take Profit - Sets the size of take profit from opening order price.
- Trailing Stop As Percentage - Sets the size of our trailing stop as a percentage of our profit when our minimum profit is met as set in Minimum Profit.
- Minimum Profit - Sets the size of profit that is required before we activate out trailing stop.
- Use Money Management - True means we will adjust lot size as a percentage of our trade capital. As set in Percentage Risked Per Trade. False means we will use fixed lot specified under Lot Size above.
- Percentage Risked Per Trade - Percentage we risk per trade. EG 2 = 2% of our total trade capital will be risked per trade. This we be calculated using both stop loss and account size.
- Buy Pending Order Pip Offset - Sets how far we want our order to be placed from the recent highest high found.
- Sell Pending Order Pip Offset - Sets how far we want our order to be placed from the recent lowest low found.
- Bars Till Order Placement - Sets how many bars we count till we place our orders. Recommended as 4.
- Buy - Sets if we want to open buy orders.
- Sell - Sets if we want to open sell orders.
- Start Hour - Sets the starting hour we allow our EA to look for trades.
- End Hour - Sets when we want to stop our EA looking for trades.
How to trade this product :
I recommend to first try the demo product ZZ Scalper Free which i have made with a fixed 0.01 lot for small volume trades. Make sure it works on a live account before thinking about purchasing the main ZZ Scalper for larger lot trades.
Works best on the 1HR charts due to the nature of this strategy.
This is a highly broker sensitive EA so the following are essential requirements :
- A broker with fastest execution of < 150ms is prefered
- Low spread typically EURUSD < 5 points (Not Pips but points!)
- Stop level = 0
- True ECN
- Fast VPS