Smart Scalper Pro Review

Mar 24, 2021 12:14 PM ET
Smart Scalper Pro Review

Smart Scalper Pro is a Forex EA from the FXautomater team that claims to be one of the most successful automated systems out there. As per the vendor, it uses a simple and effective trading logic and is based on a solid backtest performance worth 18 years. 

On the official website, the vendor has made a highly detailed presentation, highlighting all the features, the live trading results, backtests, recommendations, etc. We also have a detailed explanation of how the robot works, along with instructions on how to backtest it. The presentation is more professional compared to other Forex EAs and it does set high expectations. 

Smart Scalper Pro

Type 

Fully-automated EA

Price 

$137

Strategy

N/A

Compatible Platforms 

MT4

Currency Pairs

GBP/USD, EUR/USD, USD/CAD, USD/JPY, USD/CHF

Timeframe

M1 or M15

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

N/A

Trading Strategy Explanation

Smart Scalper Pro uses an advanced algorithm based on the Average True Range (ATR) indicator. It exhibits low drawdown and has an advanced time management system. Due to its highly efficient exit logic, it is able to make intelligent trade exits. It is also protected against high slippage and spread and is not broker-sensitive.

Smart Scalper Pro has a money management system that allows for automatic calculation of lots by setting the risk in terms of percentage. This Forex EA never misses out on vital events and news thanks to the advanced news filter. Thus the drawdown is reduced while the profit factor is enhanced. You have the option of enabling or disabling this feature.

The Time Management feature of Smart Scalper Pro lets you configure it to avoid trading during certain hours or days. You can also configure the Friday exit system to prevent the Forex EA from engaging in risky trades on Fridays. The robot sends you push and email notifications so you can always keep track of your trades. 

Nowhere on the website has the actual trading strategy been explained, and we find this quite disappointing. Just mentioning the ATR indicator is not enough, and we think the vendor should have covered the technical aspects of the strategy a bit more.

Backtest Data Analysis 

Smart Scalper Pro Backtest

This backtest was conducted on the Smart Scalper Pro EA for the GBP/USD pair, from 1999 to 2018. We can see that a total net profit of $27399.06 was generated from an initial deposit of $1000 during this time. This backtest saw Smart Scalper Pro winning 78.05% of its trades, with 5 average consecutive wins and only 1 consecutive loss. 

The results look quite satisfactory as 78.17% of short positions and 77.93% of long positions were won by the robot. Relative drawdown is quite low at 8.25% and the profit factor of 1.51 is a bit higher than average. 

Live Trading Data Analysis

Trading Results

Myfxbook Account

Real (USD), IC Markets

Started 

Sep 09, 2020

Deposit

$300

Balance

$328.40

Gain 

9.47%

Daily

0.05%

Monthly

1.41%

Drawdown

4.43%

Profitability

0.72

 

Smart Scalper Pro Myfxbook

We have been provided with live trading results for both demo and real accounts, but here we shall analyze the latter. This particular account was launched on 9th September 2020 with a deposit of $300, and since that time, 265 trades have been placed through it. We can see that it has a win rate of 72% and an average win of 10.27 pips/$0.96. 

Currently, the net profit generated by this account is only $28.40, while the time-weighted return is 9.47%. The daily and monthly gains are 0.05% and 1.41% respectively, while the drawdown is extremely low at 4.43%. While the low drawdown is certainly a good sign, we can see that the system has suffered several consecutive losses in recent times. The profit factor of 1.18 is barely enough for us to consider this system as decent.

Customer Reviews

We were unable to find customer reviews for Smart Scalper Pro on websites like Myfxbook, Quora, Forexpeacearmy, and Trustpilot. It is clear that the system doesn’t have much of a reputation, and it is possible that not many people trust it because of its short trading history.

Vendor Transparency

Smart Scalper Pro is a product from the FXautomater team. They are a team of expert Forex traders with more than 15 years of trading experience. More than 30 Forex robots have been developed by this company do they do have some technical expertise. That being said, they have chosen not to reveal the identity of the team members, and no physical address has been provided either.

Review Summary

Pros

  • Live trading results verified by Myfxbook

  • Backtesting data provided

  • Money-back guarantee

Cons

  • Lack of strategy insight

  • Lack of vendor transparency

  • Consecutive losses 

Conclusion

While Smart Scalper Pro is by no means a scam service, it is not the perfect expert advisor either. The live trading results are nothing spectacular and we can see several consecutive losses in the month of March 2020. The lack of strategy insight is also a concern.

Rating: 6.6/10


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