DynaScalp is a new expert advisor that claims to be a super scalper robot that will find & execute the most profitable trade opportunities daily with zero effort on your part. DynaScalp is the latest Forex robot from Leapfx.com. Leapfx is behind some of the most marketed EAs on the internet like Bounce Trader, Jet Trader Pro, etc. As per the marketing materials found at LeapFX.com, the DynaScalp EA has made over 500% profit in a short period of time with low drawdown.
The person behind DynScalp is called Chris Bernell and he’s selling the robot through the domain leapfx.com. The developer claims to be an institutional trader that used a smart allocation system to give the most profit in specific market conditions. The developer is completely unknown hence the reason I can’t verify his alleged trading and investment experience. In fact, the DynaScalp EA seems to be the only product that this developer has at the moment.
The following is a breakdown of the product or service offered by this developer.
- DynaScalp is an expert advisor for the MT4 platform.
- Uses asset weight allocation and night scalping system
- Traded pairs include AUDCAD, AUDUSD, CHFJPY, EURAUD, EURCAD, EURCHF, EURGBP, EURJPY, EURUSD, GBPCHF, GBPUSD, USDCAD, USDCHF, USDJPY, XAUUSD.
- It costs $397 for a one-time fee or you can pay $247 per year.
- It uses no grid or martingale strategies.
- It boasts strong news filters
- Closes all trades before weekend
- It comes pre-installed with best settings
- Implements stop loss on all trades along with a smart trailing stop system.
The vendor claims that sharing this tool will not affect him the least. Allegedly, he’ll make money whether you buy it or not.
At this point we expected the developer to give a free trial copy at the least to help test the software before making a full purchase or rent. But the developer chose the part of a classical Forex robot sales man.
However, this is the least of my concern at the moment. I want to know the strategy of their automated trading system as well as how the robot performs on a trading account to know whether the expert advisor worth it the least.
The developer discloses their trading strategy which we think is quite weird.
They initially place asset participation trades on all currency pairs traded.
They want to “test the market” and if a trend forms, the asset weight balance system will update it according to each pair result.
After self-balancing, the pairs with constant profit will have its participation increased, while the pairs that are not performing well will have its participation decreased.
We feel that there is no real strategy in this approach. Placing random trades and hoping for some market directions is counter-productive.
We wouldn’t buy into this idea as it feels more of a guesswork.
The sales page has provided screenshots and links to multiple myfxbook accounts for our viewing pleasure. The aim is to show us trading with DynaScalp EA under various risk settings i.e Medium Risk and Low Risk.
The first thing I noticed is that some of the trading activities like open trades are kept private and drawdown far exceeds monthly gains. Only vendors who lack transparency will do these kind of things.
Also, in all of their myfxbook accounts, gains are different from absolute gains which suggest that the vendor is depositing money into these accounts multiple times.
All of these tricks can be used to manipulate myfxbook results.
The truth is that this Forex robot’s cost is exaggerated. They do not have a sound and sustainable trading strategy to warrant the one-time price of $397. DynaScalp does not sound like a good investment based on my analysis.
Moreover, the developer has not provided satisfactory trading performance to let the robot trade on our accounts. Of course we look forward to what the developer will say concerning our review.
But if you have an experience with this Forex EA, kindly contribute in the comment section.