FrankoScalp is a trading advisor based on the scalping strategy. The system was released on the platform several years ago on May 22, 2019. It’s a good sign. The bad one is that the last update the robot received was half a year ago.
FrankoScalp: to trust or not to trust?
Scalping is a risky strategy. We can’t suggest you trait this system. So, to trust or not to trust is completely up to you.
The system has the following features, settings, and other details:
- The robot works for us automatically. We don’t need to do anything in addition.
- The main terminal to trade is MT5.
- The advisor was developed and tested in the best way.
- The developer provides the best possible settings in comments.
- We are allowed to work with: USDCHF, EURCHF, CADCHF, USDCAD, EURUSD, EURGBP, EURAUD, EURCAD, GBPUSD, GBPAUD, GBPCAD, NZDCAD, NZDUSD, AUDUSD, AUDCAD, AUDJPY, CHFJPY, USDJPY, EURJPY, and USDSGD.
- The developer provides an MT4 version for the full price as well.
- We have to pay attention to the GMT Offset parameters before getting started.
- If we set this parameter on auto, the system synchronizes itself.
- We can set the value of GMT Offset manually.
- There’s a new filter feature. To enable it, we have to allow web requests from the developer site.
- We can apply it to a single time frame to work with all of them at once.
- We have to backtest the system on the M1 time frame.
- We have a list of settings that we can customize provided.
We can purchase a lifetime copy of the robot for $238. The one-month rent costs $30 when a three-month one costs $60. The system is available for demo download.
Verified trading results
The robot has executed a backtest on the M1 time frame. The currency pair was USDCHF. The leverage was standard, 1:500. An initial deposit of $1000 has become $10,846 of the total net profit. The maximum drawdown was 9.17%. The profit factor was high – 7.97. The recovery factor was good as well – 11.11. There were 243 orders traded. The win rate was 98,35% only for the long direction.
The advisor opens orders on the real USD account on IC Markets automatically. The leverage is 1:500. The account has a verified track record and verified trading privileges. It was created on May 03, 2020, and deposited at $250. Since then, the absolute gain has become 84.8%. An average monthly gain is 4.22%. The maximum drawdown is acceptable.
The system has executed 406 deals with 1179 pips. An average win is 5.05 pips when an average loss is -26.06 pips. The win rate is 93% for longs and 92% for shorts. An average trade length is 6 hours and 39 minutes. The profit factor is 2.67.
GBPUSD is traded equally in both directions.
It opens orders during 10 and 11 p.m. hours.
Monday (72) and Friday (69) are the less traded days.
The system works with medium risks to the balance. We have to lose 13 orders in a row to lose 10% of the balance.
The last 20 deals were profitable. The robot works with hidden SL and TP levels.
The system is profitable so far on a real account.
Konstantin Kulikov is a developer from Russia with an 18,107 rate. He has 18 products on the board. They have a 4 rate based on 455 reviews.
We have both positive and negative testimonials. Negative ones inform us that the system isn’t profitable.
We have 18 products on the board where four of them are free.
The developer runs 9 accounts with different successes.