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Today we are looking at a Forex expert advisor whose algorithm was designed to handle high frequency trading. Therefore, BSS Scalping EA requires low latency which can be achieved if you use a VPS service like the one found on this link.
The reason why the developer must recommend a VPS service alongside their robot is because BSS Scalping EA opens and closes trades extremely fast. So efficiency really matters. This could also mean that if you do not have good internet connection and a decent computer, then securing consistent profits with this scalper will be an extremely difficult task – that is, if it works for you.
The robot is the property of a developer called Shahid Rasool. They are famous for myfx2day.com and are located in Pakistan. The developer has so far published 4 different Forex expert advisor on the MQL5 platform. The robots in question include the ENC Scalper, the ECN Trader and the ECN Accelerator. So the BSS software is the 4th product in this series. The best way to keep in touch with this developer would be to contact them on their myfx2day WhatsApp group or use the contact form on the sales page.
The developer has already said that this is a scalper, and so its quick nature will let it look for entry and exit points. This happens quickly as the robot enters and exits the market. However, we also learn that in order for this robot to work for you, you have to fine tune it by testing until you can find a strategy that truly works. Also, in order to ensure that you have low latency, you will need to conduct several tests where you will be basically looking to see if the speed between your vps and your broker is in the range of a few milliseconds. This means that those who fail to do this will not have success with the robot.
In terms of how it works, the developer is only using some vague statements to describe the working of the software. It is hard to understand these statements without some elaboration. It also appears that the creator of this software does not speak English as their first language. For that reason, we are having trouble getting what they are trying to communicate. If the developer is really serious, he should probably hire someone to do the translation for him so that the community can have a better understanding of how the robot works. Otherwise, he will lose a lot of opportunities along the way due to poor communication with his audience.
BSS Scalping EA is also equipped with multiple parameters to help traders get the most out of the trades it enters. These include take profit, stop loss, trailing stops, money management among other things. Nowdays the best robots in class also have these features. They are almost beginning to sound like basic features because all robots which we have recommended here have them as well.
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BSS Scalping EA is selling for $125 per license, and this comes with a free demo as well. This means we can test as much as we like. This also means that it is very accessible in terms of pricing. Most traders can afford it as it is below the average market range in terms of pricing. The original release of this software happened sometimes in September. Surprisingly, it has already received over 500 downloads. So that means its quickly gaining popularity in the market place. It will soon be famous or infamous depending on its performance in the long term.
In addition to this, we have monitored the activities of this developer and discovered that they have been updating it since they first released it to the public. This is barely weeks ago and the updates have already been implemented. It simply means that the developer of BSS Scalping EA is serious about the product.
This is also good for the client because if you decide to invest in a Forex robot, you want to buy from a developer who is spending as much time as possible on their product. You don’t want a software that was last updated many months ago as it may not be able to keep up with the demands of the Forex trading market place.
On the homepage of the software, we find a strategy test that was conducted on the pair GBPUSD last year. It shows that the robot was profitable in this strategy test. What we can say is that this is a very small data sample. In addition to that, they were only testing one pair instead of 2 or more. We may never know why the developer only decided to concentrate on this one pair. Finally, this is back test, and this is never the standard of testing a strategy in 2018. We need a platform like myfxbook where the results of the robot can be monitored in real time without giving the developer a chance to manipulate the results.
Oh, we were able to locate their myfxbook account after a short while. This account was created a week ago and is showing a gain of 13% and a draw down of 5%. The average trade length is 14 seconds. This shows that the scalper is looking to enter and exit trades as quickly as possible. As you might have suspected by now, this is a very small data sample. We may need to watch the software performance for quite a long time. 6 months is usually the best duration to ascertain whether or not the software works.
BSS Scalping EA has received at least 5 client reviews, and they are rating it with 5 stars. This is a good indication indeed. However, we are not sure why they are already giving it a 5 star when it is still very early. They should wait for a few months to see if results will be the same.
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