DynaScalp trades on the MT4 platform across multiple currency pairs and has detailed backtesting and live records to verify its statistics. The algorithm is pre-optimized, i.e., it comes with the best set files and recommendations from the developer. In this review, we will go through the features, strategy, live records, and customer feedback to better understand the profitability of the EA.
DynaScalp: to trust or not to trust?
The algorithm does not use risky grid and martingale strategies which can cause a high drawdown on the account. Moreover, the company has satisfactory customer reviews on Forex review forums, where traders seem content with their algorithms.
The features include:
- It trades on the MT 4 platform.
- The system uses a news filter to avoid poor trading conditions.
- The algorithm is beginner-friendly.
- There is neither martingale nor grid involved.
It uses a night scalping strategy with an asset weight management system, which gives trading preferences to currency pairs that are most profitable.
From the history present on Myfxbook records, we can observe that the robot uses a proper stop loss and take profit. This adds a plus point as it ensures risk management is in place. It will open trades towards the end of the New York trading session and can use correlation and averaging techniques in combination.
The EA is available for an asking price of 247 USD, which comes with a license for one year. Traders can also get a lifetime key for 397 USD. Both packages come with the best set files and recommendations, and there is a 30-day money-back guarantee. Considering the refund and the low cost for the superb performance it is possible to say that the purchase is a good bet.
Backtesting results are available for CHFJPY, where the relative drawdown was around 20.27%. The winning rate was 69.77%, with a profit factor of about 1.62.
All the tests were done on the 15 minutes chart with a starting balance of $1000. The robot tanked an average profit of $4385.82 for this period. There were 1482 trades where the best trade was $167.89, while the worst one was -$361.41.
The spread settings for the duration of testing were set to variable to best mimic the live market conditions. There were 165521720 ticks modeled where 144525 bars were tested.
Verified trading records are available on Myfxbook that show performance from June 30, 2020, till the current date. The system made an average monthly gain of 11.17%, with a drawdown of 17.31%. From a low value of drawdown, we can infer that a sound risk management is in place with a good strategy. The winning rate stood at 72%, with a profit factor of 1.64.
The developer made $1325.77 in deposits and $0 in withdrawals. The account’s current balance stands at $2541.96, where the equity is $2544.79. The upwards curve in the profit chart with a stable value of risk suggests that the algorithm has a positive gain/drawdown ratio. While increasing the lot size it is possible to increase your gains while keeping the downside at bay.
Leap FX is the company behind the development of DynaScalp. They have multiple other systems in the market, such as Stealth Trader, Automic Trader, AX Trader, etc. The authors also offer account management services and VPS to traders.