Punisher Scalper EA can work with a minimum starting balance of $100 and requires a broker with a minimum stop loss level of zero. The algorithm has been tested for ten years in the backtest and can work on four currency pairs, including EURUSD, XAUUSD, USDJPY, and GBPUSD. We will go through all the pros and cons of the system in our review and see if we can get anything good from it.
Detailed forex robot review
The robot is available at the MQL 5 marketplace, where the developer provides all the information about the algorithm. He presents the settings and the set files for the EA and provides the link to live signals.
Hemza Barour is the author of the product who resides in Algeria. He has a total rating of 5 for 4 reviews. The developer has 3 products published on the MQL 5 marketplace and 24 subscribers for his services. He has no market experience, according to the MQL 5 statistics, which raises concerns about his reliability and trading output.
The robot has the following set of features:
- It can trade on four currency pairs with a minimum balance of $100.
- The robot can work with a low spread broker.
- The developer provides all the set files.
- Traders need to set up the algorithm with a broker that can handle zero point stop loss.
How does it work?
The robot works by following the steps mentioned below:
- Login to the MQL 5 community on the MT4 or MT5 platform
- Purchase the system
- Refresh the experts’ tab
- Attach the EA to the respective charts.
Punisher Scalper EA strategy tests
The developer is not transparent about the strategy and only states that it can work on an ECN broker with a zero stop loss. Traders have to search for a brokerage that provides low spreads and has quality execution. Judging by the statement, we can assume that the system is a scalper. We can also see that the average holding duration is 15 seconds from the trading history, which confirms our idea.
The developer claims that the algorithm has passed the backtest for the past 10 years but does not share the records. This is a poor practice and raises our concerns about the authenticity of the product.
Live account trading results
Real trading results are tracked via Myfxbook. It was created on April 25, 2021. Since then, the robot has had an average monthly gain of 234.66%, with a drawdown of 53.29%. The drawdown value is super high here, which shows nearly half of the loss of equity in the account value. The winning rate stood at 43%, with a profit factor of 3.29. The best trade was $17275.46, while the worst was -$6062.79. There were a total of 604 trades.
The robot can be bought for a one-time price of $200. There is no money-back guarantee according to the rules of MQL 5 marketplace.
Customer reviews are only available at the MQL 5 marketplace. The reviews are positive and few in number, which are not enough to conclude the general public experience about the system.
Punisher Scalper EA does not have records available on a live account which is a poor approach. Such systems only work on a demo and are unable to function when the conditions are real.
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