Dream Scalper EA Review: A Powerful Scalping Tool
The Dream Scalper EA is a popular automated trading system that uses an advanced algorithm to scalp the forex markets. In this comprehensive review, we will analyze its features, performance statistics, pros and cons to determine if it’s a worthwhile investment for forex traders.
Overview of the Dream Scalper EA
The Dream Scalper EA was developed by a team of professional traders and programmers to identify high-probability trading opportunities through scalping, which involves taking quick, small profits on small price movements.
It is customized for the MT4 trading platform and is fully automated, meaning it can trade completely independently without human intervention. Some key features include:
- Advanced algorithm optimized for scalping across 28 currency pairs
- Real-time market analysis to identify trading opportunities
- Fully automated trading with no manual intervention needed
- Customizable settings for tweaking performance
- Suitable for all account types including micro and standard
Performance Statistics and Results
The Dream Scalper EA provides verified statistics through integration with MyFXBook, which allows independent tracking of live performance.
According to the developer, the EA has achieved over 550% cumulative profit since 2019 with max drawdown of less than 30%. It has also shown consistent monthly gains, averaging 5-15% per month.
The EA incorporates solid risk management through its algorithm. It uses a proprietary adaptive stop loss system and also allows setting a fixed stop loss and take profit level for each trade.
Accounts and Brokers:
Markets and Pairs:
The EA comes optimized for scalping opportunities across 28 forex pairs including majors, minors and exotics. Its algorithm is customized for each symbol for best performance. The most frequently traded pairs include EUR/USD, GBP/USD and USD/JPY.
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Pros of the Dream Scalper EA
The Dream Scalper EA comes with several advantages that make it stand out:
- Profitable long-term performance: Statistics indicate steady monthly gains averaging 5-15% per month since 2019.
- Fully automated algorithmic trading: No manual intervention needed as the EA analyzes markets and executes trades independently.
- Customizable settings: Allows tweaking of key parameters to align with risk appetite and market conditions.
- Adaptive stop loss system: Has inbuilt risk management to maximize profits and minimize losses.
- Developer support: The vendor provides timely support and is responsive to customer queries.
- Reasonable pricing: Available for a one-time fee with free updates included making it affordable.
Cons of the Dream Scalper EA
While the Dream Scalper EA has several advantages, there are also some downsides to consider:
- Scalping style leads to frequency of trades: The scalping approach means a high volume of trades which some traders may find overwhelming to track.
- Needs high-quality broker with fast execution: Broker should have STP/ECN account with fast trade execution speeds under 100ms for best results.
- Not meant for passive investors: Although automated, the EA still requires monitoring key metrics and being actively involved.
- Steep learning curve: Taking full advantage requires an understanding of the settings and optimizing parameters which has a learning curve.
- Sensitive to spread and slippage: As a scalper, performance gets impacted severely by high spreads and slippage.
The Dream Scalper EA is an efficient automated trading system for scalping across forex pairs. For traders looking for a stable scalper EA with solid long-term performance, reasonable pricing, and reliability, the Dream Scalper EA is definitely worth considering.
However, to achieve consistent success, ensuring seamless integration with a low spread ECN broker and dedicating time to understand the algorithm logic and optimize settings is vital before committing real capital.