Today I’m reviewing a new scalping expert advisor built to take advantage of low market volatility periods, Hunter Scalper. The robot is equipped to trade one chart at a time, and is currently being sold for $625 per license. The expert advisor was first published on September 30th, 2018, and the last update to version 2.10 came on December 3rd, 2018. Obviously, this means that the expert advisor is fairly new to the market, but it is a good sign to see that the developer is already making updates and such a short period of time.
The sole developer and owner of the robot is Feng Zhu, a trader located in China that works at “Chengdu.” Feng currently has 2 products on the market place, the other product is a robot called “Hells Gate,” which is a grid style trader priced much more affordably. To get in touch with support, traders can leave a comment on the MQL5 product page, or direct message Feng Zhu from his MQL5 profile.
Hunter Scalper Review
As is often the case with products from the MQL5 market, the Hunter Scalper robot is lacking when it comes to fleshing out the major discussion points of their trading strategy. Like any other scalper, the system takes advantage of low market volatility periods, but I was hoping for something a little more in-depth, especially because of my proclivity to Forex scalping robots. Feng also tells us that the robot uses “an advanced algorithm to find the entry points, as well as several additional filters for entering and exiting the market.”
This explanation is helpful, but it doesn’t really give us insight into the distinct methodology being utilized.
The vendor provides a handful of recommendations. The robot requires an ECN account with minimal spread, a VPS with minimal latency, and a minimum deposit of $100. Traders are not required to change any settings, but it is a requirement the traders only use one chart at a time. Considering the vendor results show multiple charts in their trading account, I’m a little confused as to why we shouldn’t be running the exact same approach that Zeng is. The last thing you want to do, is run a different set up than the vendor, because then you end up in a situation like you would with the Reaper Forex Robot, and Ganon Forex Robot, constantly chasing the vendor results without ever hitting your goal.
- Type: Forex Robot
- Price: $625
- Strategy: Scalping
- Timeframe: M15
- Pairs: AUDCAD, AUDCHF, AUDUSD, CADCHF, CADJPY, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURNZD, EURUSD, GBPAUD, GBPCAD, GBPCHF, GBPJPY, GBPNZD, GBPUSD, NZDCHF, NZDUSD, USDCAD, USDCHF, USDSGD
The Hunter Scalper system is being sold at an exorbitant price of $625. Considering the vendor, Feng Zhu has only been able to prove $163 profit using his system, I find it odd in a little unsettling that he feels he’s in a position to charge more than the software has ever earned. The robot can also be purchased on a month by month basis for $62.50, but at a price that high, it will surely cut into your winnings.
It’s my recommendation, that Feng lowers this price to be more in line with the best Forex robots available. There is no reason for the system to be as expensive as it is.
The vendor trading results are unlike most MQL5 market products, because the Hunter Scalper EA actually uses a Myfxbook account. This is a very positive aspect, and something I hope to see more often from the vendors in this marketplace.
The account is still relatively new, as its first trade took place on October 1, 2018. Yet, during this time the EA is showing a gain of nearly 80% on an IC Markets ECN account, which accounts for a $163 profit on an original balance of $373. Also impressive, is the drawdown rate at just 6.6% over the course of 217 different trades.
While the sample size is small, there are a lot of positives to draw from this trading account. The only issue I see with the account, is the fact that the vendor tells us we should only be trading one pair at a time, when he’s trading over 15. This is certainly a discrepancy and a hypocrisy that I would need to have resolution to, before signing up.
There are currently 12 customer reviews for the Hunter Scalper robot, making a 4/5 star rating. There is only one negative review, but to show both sides of the story, I will show you one positive and one negative review so that you can get a better understanding of the current market feedback.
I believe that there is certainly promise with the Hunter Scalper EA, but that doesn’t mean I plan on signing up today, or recommending it to any of the Forex Robot Nation readers. I have issues with the price point, the trading pair recommendation uncertainty and the small sample size being that this is a brand-new strategy. My plan is to watch over the software before a few more months, wait for the price to come down, and then consider purchasing a license.
If you have anything you would like to contribute to the review, please leave your questions and remarks below the article now.