The best free forex scalping robot for beginners: Metatrader 5

hi everyone I'm Heinz and welcome back to another video from sic Forex I hope that you are having a fantastic start to the year and today we'll be featuring The Royal Prince mt5 scalper the scalping bot looks ideal for small trading accounts and new Traders and remember if you enjoy any part of this video to drop it a like And subscribe for more I have already downloaded the bot to my mt5 terminal however first I want to show you how to download the Royal print scalper for your own personal usage the Bots is available through Richard's telegram bot that makes it available for free download he also has an mt4 bot available on the mql marketplace so make sure to support Royal Prince trading as the bot is available for free for us to use once you've accessed the link on your telegram simply press the correct EA that you want to download for today will be featuring The Royal Prince mt5 scalper so press to download and it will download directly to your telegram download folder you will see the Royal print scalp also comes with an mt5 strategy tester guide I have found the guide filled with useful information especially for those of you that are new to robot testing and optimization in the document you will find different relatable sources including the difference between a source file and a code as well as an executable file and how to install the expert advisor to install the expert advisor is very simple simply copy it to your data folder for that specific terminal once you have installed it expert advisor you are able to perform a multitude of different strategy tests if you are unfamiliar with some of these components of strategy testing I recommend taking the time and going through the document as there is quite a lot of fantastic information including the optimization for back testing criterias so let's take a look at what is the recommended time frame and symbol you'll see the recommended symbol is the Euro USD and the H1 time frame I will be testing my own custom period and a zero latency setting so to test the button mt5 simply press test and select the bot that you'll be testing the symbol will be the recommended Euro USD and I'm going to do it on the one hour time frame from the custom period of the 1st of January last year or 2022 until the 10th of December 2022 as recommended with a zero latency and an every Tech model and because this is for a small account we will be testing it on a hundred dollar deposit I have everything set to default so that we can take a look at how the breakout strategy works the breakout strategy that the spot featured is very interesting so we'll take a closer look in the visual mode and see how it works so everything has been returned to default select the visual mode to get accurate interpretation of what the bot would look like in the market remember on the hourly time frame each candle represents an hour so there will be quite a long waiting period between trades I see that the bot is using a painting order in the form of a cell stop and on default it has a 200 Point stop loss and a 200 point take profit what this means is the bar tit identifies a potential support and resistance or supply and demand Zone where there could be a breakout here it has now identified a buy stock above the current price if price continues in a bullish Dimension currently price is trading down so let's fast forward a bit and take a look at what is the result of the first trade in the visual mode as you can see the bot is good for a small account because it uses a set stop loss and take profit it doesn't use any grid functions however it's important to consider that this is a semi-automated system what I mean by that is you will need to pause it for news events and on this default I feel that the trailing stop of 10 points on a standard account will scores only small profits you'll see here that we were exposed for two dollars to the market however we only were able to get a return of 0. 0505 cents by doing this you are limiting your drawdown however also you'll return profitability if you don't have a zero or raw spread account so what we can see the bot does is a breakout strategies from the highs and the lows so what we're going to do next is run it for the complete period from the 10th of January until the 10th of December the reason for doing this is It's in my typical trading wheel so let's take a look at the graph at the default settings so you will see the bot does take a couple of losses which is to be expected and on a 0. 01 lot it gives us an equity of 149 and 12 cents what this means is a total profit of 49.

12 cents over this testing period you'll see that the drawdown because of the very tight stop loss and Trigger is 3. 89 or 2. 69 percent with a very impressive profit factor of 4.

43 we look at the percentage one out of the 180 trades placed by the Bots it was able to win 172 trades with only eight losing trades when we look at our highest profit and our highest loss you'll see even though it's been saved to 20 Pips and 20 Pips because of slippets parade and commissions I would recommend increasing your take profit above your stop loss to be able to achieve the one-to-one risk to reward again out of a total of 180 deals and 95. 56 win rate is really impressive when we look at the spread of the days the reason why I recommend that the bot be traded as a CB automated system is because if you were to skip certain days you could potentially increase its probability profitability and miss those losing trades what I'd recommend is start with the default settings and test them for yourself however I would recommend adjusting the trading stop depending on your own broker so what I'm going to do next is to show you how to run a series of optimizations to find the best trailing stop for your specific broker for the sake of time it is important to select two variables to three variables that go together otherwise your total steps will be quite large and it will take a very long time to run I do recommend going through the user guide and taking a look at the different optimization options that are available and use them according to your own specifications this account that I'm using is a demo standard account what means is it will have a relative spread reflective of a real account and on a 10 point trading Point trigger by 10 points on this account I do not feel in the real world that it will be as profitable what I recommend for each broker that you trade on is to adjust your trailing stops and take profit and stop loss according to that specific brokerage and trading environments to do this select the optimization option that you want and parameters or variables for that test in this example will I would have tested 10 by 10 or 100 different strategy tests after doing the strategy test I found for this FBS account the base trigger point to be 60 points or six Pips and to trail by 10 points or one pip what this means is after six Pips the expert advisor secures five tips already ending Trails by one the next thing that I'd like to discuss is our lots and risk percentage when it comes to risk percentage I would like to make a recommendation for my beginner Traders if you are new to expert advisors or trading the bot for the first time change your risk percent to zero and change your manual lots to 0. 01 if risk percentage is zero it will use fixed lots and it will only trade [Music] 0.

01 Lots I recommend doing this for the first couple of months as you get familiar with the Bots before we run our next visual test remember to disable optimization so let's take a look at the graph without updated trailing stop and trailing stop trigger with a trailing stop is the amount that it Trails by and the trailing stop trigger is when it starts to Trail when the trade is in profit you already see a much healthier balance and Equity curve because of this trailing stop adjustment again if you are a new Trader or just beginning with Forex Trading robots I recommend adjusting your risk percentage to zero which makes it fixed and adjusting your lots to 0. 01 however if you have been trading for a while and understand that you are only risking a hundred dollars in this account we can potentially use large Lots because this stop loss and take profit are set that means even if there is an unexpected event in the market the most you could be losing is 200 points or 20 Pips by increasing your risk percentage the bot is owed to calculating electrons and because of that it's able to turn a hundred dollars potentially into over four hundred dollars if we look at specific periods in time after the first two months we were already up a hundred and thirty dollars you'll see they are periods of stagnation where the parts uses slower Equity growth however because of the amount of consecutive wins that the bot is able to generate you'll see that is able to generate a very healthy return with a very low drawdown our total Equity ended at 418 meaning our hundred dollars to four hundred and eighteen and five cents in less than 12 months our drawdown is at 39. 92 or 15 on a hundred dollar accounts and out of the hundred and eighty dollar 180 trades pardon me we have not given up some winners by only winning 152 however you'll see the amount relative in net profit is much higher another reason why recommend trading this as a semi-automated bot is because of the distribution of losses and wins by week days you'll see our maximum consecutive wins is 32 wins and the average wins in a row is six if we look to trade 18 days you'll see major trading days with news announcements have a large red bar and if we look at this set file they are months including July where the bot wasn't profitable and a break-even month in March for the other 10 months they were all profitable now I often get asked to make the SEC files available so they will be available on the Google Drve so that you can test them on your own broker I recommend altering your trigger points and the points how much it Trails by for your own specific broker if you do have a low spread or zero spread account you can use the one or ten points because of your enhanced trading conditions however I do recommend for most standard accounts to adjust it according to your own specific broker next what I'd like to do is look at a five-year back test for the set file that we have just made it's testing about for five years means that it would be able to trade through the coronavirus Wars and other things that have happened in the last five years it is important to understand that it is a semi-automated system so there will be times where you will need to manually until enter or stop the bot my recommendation is to look for red folder News on Forex Factory and avoid those trading days so our strategies test is starting on the 10th of January in 2018 and you will see there are periods when the bot makes great returns when you should be making withdrawals and there are periods where it does lose and have consecutive losses however over this long testing period our hundred dollar balance is up to fourteen hundred dollars the reason for this is not only the risk percentage but because we have optimized the part for our specific Baroque it is important to understand that the set files need to be adjusted for your own broker however if you have the time and spend it on trading and specialize in your box you will see good returns even over this maximum period of five years draw down PTAC 16.