The Wave Scalper is a Forex robot dealing in Forex pairs GBPUSD, USDJPY with a choice of two license plan, M15 timeframe and the scalping trading strategy.
The Wave Scalper is developed by the leapFX team. a development group that conciders themselves “the automated trading experts.” They’ve been developing Forex systems since 2012, and can be contacted via email for support, [email protected]. Below, we have highlighted everything you need to know about The Wave Scalper, so make sure you read I prior to investing any money.
The Wave Scalper EA Review
Nowadays with so much competition in the marketplace, many vendors like The Wave Scalper have resorted to the use of very aggressive marketing tactics. Yet, this doesn’t mean that the product isn’t a viable, it just means that we have to be a little more cautious in our approach, especially when sending our expectations.
There are 3 main aspects that the vendor wants the community to be aware of, because the field these aspects of the main reasons why their system drive. It’s built on a complex neural network, it does not use dangerous grid or martingale methods and never trades actively against the trend.
Our in-depth review of The Wave Scalper EA shows that they provided specific details on software strategy. The Wave Scalper bases their scalping approach with the main principles of the Elliott wave theory. They believe that focusing on the current fractal wave patterns is a great way to automate price action in an expert advisor. The robot is built to scalp “impulse waves that trade into the trend direction, giving a much higher probability of success.”
Like the Waka Waka EA, it’s good to see that the vendor is providing some specific details about their trading strategy, as most developers in this market tend to avoid it altogether. So, even though the methodology isn’t very in depth, it is still much better than what we see from the majority of developers in this marketplace.
- Type: Forex Robot
- Price: $497
- Strategy: Scalping
- Timeframe: M15
- Pairs: GBPUSD, USDJPY
The Wave Scalper Subscription
There are two options available for the EA subscription. Clients can purchase a yearly license which costs $297 per year, or a lifetime license for $497.
This is priced quite exorbitantly, and the yearly license really is important even considering, because after 2 years of using it, you will have already paid more than the cost of the lifetime license.
We would like to see the price lowered for the lifetime license, to somewhere around the $200 range.
At the SCAM EA, you will find hundreds of reviews of Forex robots, where we check to see if they are verified investment product, or simply a scam. The way investors properly compare a Forex EA result, is by checking to see if their results are published in a public statement sharing site, like myfxbook or FXBlue.
The Wave Scalper provides 3 live Myfxbook accounts, and 2 backtests.
Although, further analysis shows that only one of the Myfxbook accounts is still active. We are unsure why, but 2 out of the 3 accounts stopped trading in February. Which means the only account left is the “mixed pairs” account, that has been running for approximately 4 months. During this time, the trading account is showing a gain of just over 35%, with a low drawdown of just over 6%.The robot has traded 137 times, with the win rate around 76%. The risk reward ratio is also effective, with the average win coming in at 12 pips, and the average loss coming in at -17 pips.
So far, this trading account is pretty impressive, but we still have questions about the other 2 accounts. Why did both of these accounts stopped trading over 6 months ago, and why are they still being used in the marketing materials that they are no longer active? Getting answers to these questions will be very important in terms of our final decision.
It is also worth noting that the accounts provided do not line up with their marketing promises of taking $200-$300 accounts and turning them into $100,000+ accounts.
From the information provided, the The Wave Scalper looks to be an effective trading system. Yet, we would like to see some real client trading accounts, and potentially have the price come down to a much more reasonable rate, before we consider signing up. We also have questions about some of their expired trading accounts that we would like answered as well. To generate consistent returns, take advantage of these products.