Today I’m looking at an older EA that seemed to pass by without catching my eye the first time, Saad Scalper. This software is promoted on the MQL5 web-site and has over 1800 comments there so I figured if people are talking about it this much, I should probably learn about it myself. The robot is a “fully automated EA and handles two strategies at the same time with its unique style to make most trades profitable.”
The author of the EA is Adnan Iqbal who is also behind the release of the Saad TrendTracker. Adnan is located in the United Arab Emirates and can be contacted directly through the MQL5 web-site for product support.
Saad Scalper Review
Normally, I’m more used to reviewing trading systems that have their own sales page, as opposed to just being listed on the MQL5 market. I prefer a sales page because there is usually much more information, but I’ll try not to let that influence my opinion of the Saad Scalper.
The MQL5 product page provides us with a brief explanations of the strategy and outlines of each parameter. I actually really like that Adnan is providing us with all of the paramaters because it gives us an inside look at some of the properties used to make up the strategy.
Type: Forex Robot
Pairs: EURUSD, GBPUSD, USDCHF, USDCAD, AUDCAD, AUDUSD
The EA utilizes a pending order martingale and a market order martingale so be somewhat careful. Systems that utilize martingale trading strategies can quickly plummet your account, but also offers high risk reward potential.
You can also see that the price for this system is free, so if you go to the MQL5 website you can download this and tested yourself. I’m undecided whether or not I’m going to give this a shot. I certainly appreciate any free trading system, and a scalping strategy utilizing martingale does interest me but I’m not sure if I have the time to dedicate to a noncommercial EA. I prefer commerical systems, as they are tested, and proven.
There are a bunch of backtests showing short sample sizes from 2015, but even this is very limited. Adnan is not providing us with adequate trading results for his Saad Scalper software. He is likely spending more time on his Trend Tracker robot, as he is charging $99 for this.
I really don’t to spend too much time on this Saad Scalper review today. The bottom line is, this is a free Forex robot then you could fool around with an test. Yet, I don’t recommend running this software on live accounts because it is a free system, which means that it is not properly supported and you can see the last upgrade was well over a year ago. Maybe I’m just behind the 8 ball on this product because I’m 2 years late, but I figured it’s better late than never.
If you’ve ever used this scalper or just want to leave your opinions about Forex trading in general. Feel free to comment now.