Zen Scalper EA Review

Nov 25, 2021 06:45 PM ET
Zen Scalper EA Review

Zen Scalper trading robot uses an aggressive combo of grid and martingale approaches for trading on GBPUSD. The algorithm claims to provide a 70-100% return on your investment with drawdown adjustment settings. Achieving such a feat with martingale is possible, but the downside can be high. We will analyze the system for all its potential benefits and demerits in our review so you can understand all its pros and cons.

Zen Scalper EA Strategy

Type

Fully-automated EA

Price

$59

Strategy

Martingale 

Compatible Platforms

MT4, MT5

Currency Pairs

GBPUSD

Timeframe

M15

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

N/A

Trading strategy explanation

The developer keeps us blind when it comes to explaining the trading strategy of the product. To analyze, we had to look over the records on Myfxbook. We can see that it has a martingale and grid strategy in use, with trades occurring on GBPUSD only. The EA holds the trades for an average duration of 2 hours and 59 minutes. The stop losses and take profits are hidden.

Trading history.

How does the EA work?

Traders can install the robot in the following steps:

  1. Purchase the system from the developer on the website

  2. Provide your account number

  3. Attach the system onto the charts to start trading

Features

The robot has the following features:

  • It is available for both MT4 and MT5 platforms

  • A lot management system is coded within the product

  • The robot comes with 24/7 customer support

Customer reviews are not available for the product on noted platforms such as Forex Peace Army. This shows the lack of interest by traders in a martingale and averaging system.

Backtest data analysis

Backtesting results are not available for the product, which is generally the case with the systems that use martingale and grid strategies. They fail while being tested on historical data. This is due to implementing a risky strategy, which causes the account to easily reach margin call. Hiding such records from traders is a clear indication that it does not work in historical data.

Live trading data analysis

We have live records present on Myfxbook that gives us the performance records from October 25, 2021, till the current date. The system made an average monthly gain of around 40.66% during the period, with a drawdown of 46%. The stated drawdown is high, indicating that the account losses nearly half of its trading value.

The winning rate stood at 69%, with a profit factor of 1.45. The best trade was $352.59, while the worst was -$818.90 in a total of 353 trades. 

The high drawdown of the system is evident in this case as the robot limits losses. That system had a good upcurve which went downwards when the risk became too high, and it had to close trades or have a margin call on the account.

Live records.

Zen Scalper EA Strategy

MQL 5 Account

Real (USD), FBS

Started

October 25, 2021

Deposit

$7376

Balance

$10825.84

Gain

86.46%

Daily

1.16%

Monthly

40.66%%

Drawdown

46%

Profitability

1.45

Vendor transparency

The author of the robot is unknown as there are no details present on the website regarding the topic. Lack of transparency on multiple factors is not good for the product. The developer should present their historical records and portfolio for us to see.

Review summary

Pros

  • Live records on Myfxbook

Cons

  • There is not enough transparency on the strategy

  • No backtesting records

  • Uses a grid plus martingale combo

Due to the implementation of grid and martingale, Zen Scalper EA is not a good choice for traders. Using the system is extremely dangerous for any account.

Rating: 5/10


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