Dragon Scalper gets its name from the GBPJPY cross rate, whose nickname is “Dragon.” According to its website, AlnoTrade claims to be the ideal partner for Forex and CFD trading systems. Is the robot profitable? Throughout this article, we perform an EA review for the Dragon Scalper. We check out the bot’s stats, trading techniques, website and user reviews to gauge whether the bot is successful or not.
What is Dragon Scalper?
This is a fully automated expert advisor that is part of EAs made by AlnoTrade. The robot works on the GBPJPY platform, which also works on a 15-minute timeframe. There are three known creators of AlnoTrade’s robots, the main creator being Matts Korsen, and it seems to be located in the UK.
There are two options to gaining access to this robot. The first option is to buy the Dragon Scalper at €299. With this option, you get two live account numbers, lifetime updates, a full installation manual, and a 60-day money-back guarantee.
The second option doesn’t have a purchase price. All you have to do is help open new live trading with a $500 minimum daily trading. This option is helpful because it supports the MT4 platform and has a RAW ECN and a 500:1 leverage.
EA Review: How Dragon Scalper Works
MT4 is the best tool to use to take profit and stop loss. The bot’s creators also combined the trailing stop function, whose most common use is to hoard profits and minimize loss. This happens because the trailing stop function works by ensuring that the only time it moves is when there’s a profit or when the trade is losing.
This scalper has a time limit and will only work from 8 am to 9 pm GMT. It avoids the Asian trading session but will even extend to the American timeline. Seems like the robot uses both scalping and the martingale technique to tie its functions together.
EA Review: Dragon Scalper’s Stats and User Reactions
Because AlnoTrader consists of a group of robots, we expect their website to be professional and informational. It didn’t disappoint. This is one of the most informative Forex sites we saw, except that their technique isn’t that clear.
We didn’t get access to conclusive historical data. What is available on the website are screenshots of historical data. What the creators have offered is how this robot has worked since its inception in 2019. As stated on their website, the data was done under a 1:500 leverage and a 99% modeling quality and showed an upward trend.
The live account that AlnoTrade provides is quite locked. The only thing we can deduce is the +705.06% overall gains and the 0.70% daily gain. The data shows that the bot wins about 65% of the trades entered.
We were able to find user reviews from the popular user reviews on the Internet.
I don’t understand the hidden Myfxbook numbers on the live trades and why AlnoTrade promised us backtests and offered something different. There’s no evidence to ascertain that the robot works. Regardless of how appealing their website is, we can’t verify whether this bot will be profitable to you.