Punisher Scalper EA is one of the many Forex robots being sold on mql5. It has several features, which enable it to trade on behalf of users. The developer instructs traders to test the system with minimal risk or on a demo account prior to utilizing the EA on a real account. This is fishy. It points to a vendor who lacks faith in his product.
Hemza Barour is the developer of this robot. According to the mql5 profile, he has 3 products and 4 signals in his portfolio. Unfortunately, he doesn’t have any trading experience.
Punisher Scalper EA: characteristics
The features of the robot include:
- The starting trading balance is $100.
- Uses ECN brokers offering zero spreads.
- The VPS server is preferred.
- The trading platform is MT4.
- Protects all trades using stop loss.
- No risky approaches are used.
Currency pairs, strategy & timeframe
Punisher Scalper EA applies 4 currency pairs simultaneously. They include GBPUSD, EURUSD, USDJPY, and XAUUSD symbols. The timeframe used is M30. Thus far, we can tell that the robot uses the scalping trading logic. This approach focuses on making profits through intraday variations in the price of the aforementioned currencies within short time intervals. The developer also mentions that the robot has a breakout mechanism. Therefore, it appears that it looks for breakout entries for scalping.
Punisher Scalper EA trading performance
Backtest results are not part of the presentation. This is despite assuring us that the robot was tested for a 10 year period (2009-2021) on real tick data. The developer’s reluctance to share these statistics makes us think that they are not good. So, you should be careful because the EA might have some faulty features and strategies that can be detrimental to your account.
There are live trading results for this robot on Myfxbook.com.
We have the results of a demo account. We wonder why the developer does not want to use a real account. Maybe the results we see here cannot be replicated in actual market conditions.
Anyway, this account was deployed on April 25, 2021, and in less than 6 months, it has achieved a massive gain of 98,059.88%. This is after increasing a deposit of $100 by $98,815.95. The daily and monthly profits are 3.86% and 213.75%, respectively. The drawdown rate of 53.29% is very high and a sign that the strategy in place is also dangerous.
The EA has an average trade length of 53s, and it has conducted 617 trades to date. However, the performance of these orders is disturbing. This is because only 45% of the long positions and 39% of the short ones are successful. A total of 6021.2 pips have been made. The average win is 30.36 pips, whereas the average loss is -5.44 pips. The amount of lots traded is high — 7,176.66. This illustrates the risky nature of the trading methodology applied.
This account is safe. It is not at risk of being destroyed.
The robot traded within short timeframes. Large lot sizes (100) were used. Dynamic TP and SL levels were in place. From the numerous losses made, it is evident that these trading tactics were not working.
The robot is active throughout the day, but its activities peak during afternoon hours.
How much does it cost?
Punisher Scalper EA costs $200. However, this price does not come with a money-back guarantee. This implies that the vendor is not confident about the performance of the product. Otherwise, he would be ready to refund traders their money in case the EA doesn’t perform as expected. In light of this, we don’t think the system is worth the money.
Reviews from customers
This system lacks reliable user reviews. We say this because we could not find any testimonials from credible sites like Quora, Trustpilot, or FPA. Nonetheless, there are 3 reviews on mql5, but they are not trustworthy.
Should you use Punisher Scalper EA?
|Live trading results are available||The developer lacks trading experience|
|Fully automated||Customer feedback is unreliable|
|No backtest report|
|Trading strategy used is risky|
Punisher Scalper EA uses a risky trading style. Whereas it targets small profits, it applies huge lot sizes as well, which augments its trading risks. The many losses suffered and the resulting high drawdown proves that the strategy isn’t effective. This may be the main reason why the dev is not willing to test the robot on a live market or display the backtest data. To that end, we advise you not to buy this product.