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Forget scalping on MT4 brokers, that is a losing proposition. They already got you by the balls with the spread, so it is already playing against the house. So you might as well go to the casinos if you want to scalp, your odds are probably better on blackjack.
For instance, if you scalping for 4 pips, it would require you to make up the spread like 3 pips, so you have to make 75% of your target profit just to pay the spread before you are even making money. And if you have 4 pip stop, then you basically take a 7 pip loss. Add to the requote, and you are pretty much set up for failure.
I'm still a bit confuse about why people make a BIG thing of scalping. I would understand about an EA that place undrend of trade per hour or day, but I do scalp whit FxPro and get no trouble.
Whit a spread of 2 pips on eur/usd, going for a 5 pips run, or a bit more, i won't be warn by my broker at all.
An scalping EA could be bloke, sure! About a trader who trade big lots for little pips, i think he's gonna loose more then the broker itself.
I can be wrong, just my feeling about it!
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Since we are on a sclaping thread, nobody found an SIMPLE EA including SL/TP/TS smaller then offered by broker??? All i found yet is NASA roket control menu or trailing stop whitout TP/SL.
My best scalping EA attached...
Unfortunately ATC Brokers is not accepting new customers 4 now. BTW, someone here who has an account with atcbrokers (hotspotfx feed) and wants to test this scalper live? If, yes, send me a PM. The worse thing can happens is loose 20usd of your money
Hi...Please.. Where do you get this expert advisor?
Also what are all the MT4's brokers that can have 2 or less spread, im not looking for less than 1 pip spread, but 2 pip max or anything between 1 and 2 spread fixed would be useful in any trades.
Sorry if this post is out of place I was just following this thread and thought I would add some fact to some of the comments... I have notified the NFA about this... Thanks to all those who have shared EAs and other programs and comments with all of us here... I got this info from FF on one of the posts there... Why can't trading be totally propitious???
Unfair and Illegal Broker Program being used now by Forex Brokers. It is called " Virtual Dealer Plug-In... MT4 Brokers Virtual Dealer Plug-In, Info: This information comes from BOSTON TECHNOLOGIES they provide internet connectivity between the MT4 trading station and Banks, it is for Brokers... I am not able to put in the pics off of the site but here is a list of what the MT4 Virtual Plug-In program does: 1. Confirmation of the clients requests with regulated execution delay up to 5 seconds and recheck of Limit and Stop Level and Freeze Level. 2. Processing of pending order activations, Stops triggering, and StopOuts. 3. Confirmation of requests on stream prices "Instant Execution" with adjustable permitted slippage. 4. Watching symbol gaps, during which pending orders Buy Stop and Sell Stop and Stops of open positions are activated NOT at the client's requested price, but at the GAP price. 5. Automated moving up the Limit and Stop Level and Freeze Level according to the preset list of news time. 6. Disabling "Setting, Modifying, Deletion" of pending orders during news receiving. 7. Working in parallel with real dealers, In this Mode, only those requests are processed the Volumes of which do not exceed the Preset Level. There are screen shots of the actual settings in the MT4 Virtual Plug-In program but I will have to attach a file to show them... I am Federally retired from an agency within the Department of Homeland Security and I am extremely curious and alarmed why and how such a unfair and illegal MT4 dealer program could be permitted by the Securities and Exchange Commission???
Here are some of the trader’s comments and this seems to be the norm: Member Since May 2007Posts: 652 on FF…
What does the NFA say about this?
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I've had three different LIVE accounts with retail FX brokers. They all played dirty tricks. Spikes, crazy order types and execution...Please don't limit your investigation to MetaQuotes brokers.__________________
Micro
How to avoid being a victim of Forex fraud and commodity fraud
In the securities and exchange options business, The Federal Regulating Agency over the Forex is the: U.S. Securities and Exchange Commission… On their site they state their mission and purpose: The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. "I ask the Securities and Exchange Commission, do you think that MT4 brokers that implement the MT4 Virtual Dealer Plug-In are being fair???".... Thank you for your time…
I think we fully understand the need for caution when opening a live trading account with any broker especially brokers using the “Virtual Plug-In” program and to date I have no idea how to tell which ones are using it and which ones are not, they certainly are not going to admit to using it, but as a trading community and group as we have here on Forex-TSD it makes it harder for cheating brokers to continue to scam us. It only takes one alert trader to sound the alarm and give the offending broker a bad review and image that will deter the trading community from becoming more scam victims… I have no idea if Boston Technologies works as a go between or not but the fact remains that MQ did make the “Virtual Plug-In” program specifically for brokers for whatever reason…
But enough about that there is obviously another link and forum for the “Virtual Plug-In” discussion and we all know the importance of putting in the time and effort in doing research in finding out as much about the broker or brokers that we are interested in opening a live account with or we should, lol… ElectricSavant, thanks for the link and for the feedback and comments, and thanks to all of the members that share and help us, THANK YOU… Now back to the point of this forum, show us you’re best Scalping EA or EAs… Let’s find the best of the best Scalping EA... Ohhhh Yeahhhhh!!!!!
I think we fully understand the need for caution when opening a live trading account with any broker especially brokers using the “Virtual Plug-In” program and to date I have no idea how to tell which ones are using it and which ones are not, they certainly are not going to admit to using it, but as a trading community and group as we have here on Forex-TSD it makes it harder for cheating brokers to continue to scam us. It only takes one alert trader to sound the alarm and give the offending broker a bad review and image that will deter the trading community from becoming more scam victims… I have no idea if Boston Technologies works as a go between or not but the fact remains that MQ did make the “Virtual Plug-In” program specifically for brokers for whatever reason…
But enough about that there is obviously another link and forum for the “Virtual Plug-In” discussion and we all know the importance of putting in the time and effort in doing research in finding out as much about the broker or brokers that we are interested in opening a live account with or we should, lol… ElectricSavant, thanks for the link and for the feedback and comments, and thanks to all of the members that share and help us, THANK YOU… Now back to the point of this forum, show us you’re best Scalping EA or EAs… Let’s find the best of the best Scalping EA... Ohhhh Yeahhhhh!!!!!
You post suggests that you believe that the majority of Metatrader brokers are reputable and we need to weed-out the few 'bad uns' remaining - whereas the exact opposite is true! These vermin pay $100,000 to Metaquotes (plus on-going royalties) to use their platform for a reason - to make as much money as they can in the least amount of time, so 'customer support' is not a priority with them.
Regarding scalping EA's - great, and what do you do when you find a good one, no MT broker will let you use them unrestricted! Several years down the line, I am still waiting for a single confirmed MT broker that allows scalping - sure, a few allow it on a limited scale but the minute you start making serious money you are given a 'cease & desist' ultumatum. I had personal experience with Aleccohfx, who bragged about being the only broker to allow scalping. (not 'unrestricted' either, there were severe restrictions) However, the moment Aleccoh realised that certain customers were actually scalping profitably, their automated-trading priviledges were revoked, Aleccoh citing non-compliance with the scalping conditions as the reason, but later being forced to admit that it was because they were profitable! And as we're on the plugins theme, yep, both stop-hunting and volatility filtering were very much in evidence...