Today I’m looking at the Easy Argo Scalper, a Forex robot that trades exclusively during the Asian session. The goal of the development team is to take advantage of limited market activity so that there are no large market swings that can potentially work against scalping. The idea is on point, what I’ll be reviewing today, is the execution of their plan.
The creators of this EA are ArgoLab, a company dedicated to algorithmic trading. They’ve created quite a few commercial expert advisors that this is the first I’ve come across the website. I believe that’s because this is a Russian-based company that is just starting to market to North America recently. To get in touch with support traders can email email@example.com.
Easy Argo Scalper Review
According to the sales page, the Easy Argo Scalper software sets itself apart from other Asian session scalpers by utilizing a limit pending orders setting. This setting “minimizes the price slippage, which often happens” when the market is thin, during this session.
The strategy contains no martingale aspects, and all the trades include take profit and stoploss levels to protect from broker connection failure.
The software doesn’t hedge, and uses a proprietary money management system that analyzes the history of trades and adjusts the lot size accordingly. Personally, this is the feature that I’m most interested in, because this would certainly help me with a lot of the trading systems I use.
- Type: Forex Robot
- Price: $219/license
- Strategy: Scalper
- Timeframe: H1
- Pairs: AUDCAD, CADCHF, CHFJPY, EURAUD, EURCHF, EURJPY, GBPAUD, GBPCAD, GBPCHF and USDCHF
The Easy Argo Scalper vendors provide us with 3 my FX book accounts to analyze. They use separate brokers for each, Tickmill, Vipro Markets and IC Markets. Each of the accounts performs differently, so I’m not sure if they are using different settings award different pair configurations but that’s something I would like to know. If the software performs differently on every single broker, it will be harder to trust if you don’t use one of these 3 brokerages.
The account I’m most interested in is the account they have with Tickmill. This account is showing some very erratic behaviors that you don’t often see in a scalping strategy. From May 29th to June 7th the software dropped from 49% gain to 15%, and then it jumped 72% in a single day. Nearly the entire history of the EA suggests that it picks up very small wins, this day it won multiple trades around the 200 pip mark. It looks like the software got in on the right side of a flash, impressive, but erratic.
The ArgoLab group has been producing trading system since late 2013, and working in the Forex market since 2008. They have a heavy belief in automatic and algorithmic trading and noncommercial trading systems that can be modified it shared with the community.
This team started working on exclusively non-commerical trading systems, but have since delved into commercial robots now that they have the experience to do so. They urge everyone to help them grow by “participating in the discussions and testing of robots, searching for new interesting ideas” and purchasing their systems.
Here’s a list of their most current EA releases.
- Easy Argo Scalper
- Strike FX
- Easy Walker FX
- FX Splitter EA
- Tricky Twister EA
- Forex Warrior EA
When I have more time, I’ll take a look at some of these other robots and provide full reviews for them as well.
It’s hard to recommend a trading software from a developer that I’ve just come across for the first time, but there are certainly reasons to be positive about the Easy Argo Scalper. I like the way that they’ve provided some insight into their trading strategy, and backed it up with trading results. The results still need some time to breathe, since they are relatively new, so I’ll wait to see how the robot performs in the long term before I make a final decision.
There is very little information about the ArgoLab projects, and services online at this point in time. I generally like to see some real user reviews and customer feedback before getting involved with any service but this isn’t available. So, I urge traders of the Easy Argo Scalper, or any of the other ArgoLab systems to comment here with your thoughts.