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EA Review: Scalp Bitcoin

While it may seem like something else, the new Scalp Bitcoin software is in fact an EA. This expert advisor requires the traders utilize a Forex broker and trade their system in an automated fashion in meta-trader 4. The developers believe they’ve put together a system that is enabling the community “to earn thousands of dollars every month from Bitcoin.”

We are introduced to the creator Brad Sheradon, as the lead of a team of investors and developers that design investment systems. While this doesn’t really matter, this is an alias because the creator of this system generally goes by the name Lance Hunter. I’ll go over a few of Lance’s recent releases later On in the review. As for now, if you need to contact support, you can email support@scalpbitcoin.com.

Scalp Bitcoin Review

The main aspect that we have to analyze when it comes to the Scalp Bitcoin system is whether or not this is a viable investment strategy. The reason I question this, is because there are many marketers and traders trying to capitalize on the increased popularity of the crypto currency marketplace. With that being said, the main purpose of this review is to figure out if there is a true strategy here, or just a ploy to win over customers.

In terms of strategy, we are told that the system is volatility-based. Sadly, there is very little information outside of this. My concern here is with volatility scalping, because from my experience scalping systems work much better with currency pairs that are less volatile. For example, the number one system rated here is Forex Fury, and it scalps the market every single day for a specific hour when the market is the least volatile. This ensures the trades don’t run in the wrong direction quickly, and instead goes up and down a few pips at a time, making it easy to scalp. I’d like to know how SB scalps.

This sales page doesn’t really give us any details on the system or strategy, but is more of a brief introduction to automated trading and bitcoin.

Breakdown

  • Type: Forex EA
  • Price: $347/year
  • Strategy: Scalping
  • Timeframe: M15
  • Pairs: BTCUSD

The EA isn’t cheap, going for $347 a year for $127 for 3 months. Personally, I prefer trading systems that give me lifetime access to their services. Yearly fees, or even monthly fees tend to scare me off of a lot of systems. So, hopefully there is something spectacular here in the results section that makes this worth the extra money and commitment.

Trading Results

Normally, the developer of Scalp Bitcoin provides us with long-term Myfxbook accounts. You can see this is the case with the releases of Fluid Trader, Signal Steps, TriStar Trader, and others. Yet, in this case we are provided with many different screenshots from a Myfxbook account, but we are never given direct access. The only reason I can think of for not providing us with this access, is if the trading account doesn’t exist or it blew up.

If you look at the main image, you can see that the software was trading from February 2016 to July 2017. During this time the EA gained almost 500%. The question I have now, is where has this account gone?

Until I get this information, there is no way that I’m going to be signing up with this trading system. For all we know these trading statements, and images from Myfxbook accounts can be taken from somebody else’s account. They conveniently cut out the part of the image which would show us who this Myfxbook account belongs to.

There are many questions that need to be answered about the trading results.

Conclusion

While the website is professional, and the creators of the Scalp Bitcoin software have a lot of experience in the Forex market, I just can’t recommend this software to the Forex Robot Nation readers at this time. The trading results section of this review, simply points out too many discrepancies and issues that need to be resolved before I can justify spending over $300 a year.

Please let me know what you think about this robot, by leaving your comments and questions now.

About Patrick Ryan

Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He's eager to help traders achieve their investment goals, whether they are short or long-term. Patrick's penned thousands of reviews, and is always available to discuss trading with anyone who's interested.

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