GerFX Density Scalper uses a scalping technique at night. The developer claims that the robot works best on the event without news and volatility. The vendor tries to convince us that the EA does not use dangerous strategies such as grid and martingale and has a stop loss for every position. Let us see if the GerFX Density Scalper can deliver on the stated promises and the huge asking price.
Is GerFX Density Scalper still profitable?
We have gone through multiple live trading results, and the backtests of the system. In result, we have found that the profits the robot generates come with high risks.
Paul Exler is the author of the product who resided in Germany. He has a total rating of 4.4 for 18 reviews. The developer has ten products on the MQL 5 marketplace and has 96 subscribers for his services. He has experience of more than five years. No proof of the trading record can verify his background.
The developer states that the robot scalps at night. It works on the M5 chart and on multiple currency pairs. All the trades come with a stop loss, and it is not recommended to run the system during economic releases. The robot does not use grid and martingale strategies and has a mean reversion approach to the trades.
Looking at the trading history on Myfxbook, we can see that there is no stop loss attached to the trades, which falsifies the claim of a fixed stop loss being employed. Traders can close as much as 60 pips in the negative.
How to start trading with FXBlue?
To start trading, traders have to follow the following steps:
- Purchase the system at MQL 5 marketplace
- Login to the MQL 5 community at the MT4 or MT5 platform
- Download the expert from the market section
- Enable auto trading tab and place the robot on charts
The robot comes at a whopping price of $2000, and there is no money-back guarantee. Traders can also rent it for 1, 3, 6, and 12 months for $140, $370, $700 and $1250.
GerFX Density Scalper backtests
Backtesting results are available for multiple currencies. For AUDNZD, the relative drawdown was around 5.94%. The winning rate was 86.90%, with a profit factor of about 2.40. All the tests were performed on the 5 minutes chart with a starting balance of $1000. The robot tanked an average profit of $1833 during this period. There were 916 trades in total, with 1832 deals. The best trade was $24.81, while the worst one was -$37.50. The duration of the test is 2010.01.01 – 2020.12.19.
Verified trading records on Myfxbook show performance from January 12, 2021, till the current date for GerFX Density Scalper. The system has an average monthly gain of 3.66%. The winning rate stood at 81%, with a profit factor of 3.01. The best trade was 1.29 Euros, while the worst was -3.66 Euros. There were a total of 350 trades performed.
There are only a few customer reviews at the MQL 5 marketplace which are not enough to evaluate the general viewpoint of traders. Investors state that they are still testing out the system to see if it is profitable or not.
- It provides live records on Myfxbook
- It does not use a stop loss
- The asking price is super high
- It can not run during news events
GerFX Density Scalper does not use a proper stop loss, which goes against the developer’s statement. Lack of authenticity raises many concerns over the robot. The asking price of the system is super high, and it will take a high capital to cover the initial costs of investment.