GerFX Density Scalper is an expert advisor that comes with customizable features. According to the vendor, it offers different parameters that you can use to optimize entry conditions and make other improvements. The system can be readily purchased on mql5.
Paul Exler is the brains behind this system. He lives in Germany and the CEO of a company called Exler Consulting GmbH. Paul works with a team of German-based traders with more than 10 years of combined trading experience. GerFX Forex Cyborg, GerFX BreakingNews Filter, and GerFX DeltaWave EA are some of the other systems the team is selling.
The system has five pricing packages, and all of them are exorbitant. As you can see in the screenshot below, a lifetime license currently goes for $2000. But if you want to use the robot on a temporary basis, then you can rent it for 1 month, 3 months, 6 months, or 1 year at $140, $370, $700, or $1250, respectively. None of the plans feature a money-back guarantee.
These are the main features the system offers:
- It works on both the MT4 and MT5 platforms.
- The system trades on multiple currency pairs, including EURUSD, GBPUSD, EURCHF, USDCHF, USDCAD, EURCAD, EURAUD, AUDUSD, AUDNZD, AUDCAD, and CHFJPY. It is still experimenting with these symbols: USDJPY, EURJPY, EURGBP, EURNZD, GBPAUD, NZDUSD, and NZDCAD.
- The recommended timeframe is M5.
- It runs on a VPS continuously without interruption.
- The robot includes a breaking news filter.
GerFX Density Scalper trading approach
The EA applies mean reversion, particularly during the quiet hours of the day. The developer discloses that he has optimized the system in a few ways so as to decrease slippage. For instance, he reduced the entry logic to accelerate calculations and designed the bot to conduct exits using take profit orders, which can even cause positive slippage. A stop loss is applied to each position, and neither martingale nor grid strategies are used. As you can see on the trading history table below, the EA avoids using grid and martingale.
The system worked with fixed lot sizes (0.01) and set a TP target on every order. Unfortunately, the stop loss targets are not shown. The user has made several withdrawals recently.
GerFX Density Scalper backtesting results
We have the backtest results for the AUDNZD currency pair. It was tested on the 2010-2020 historical data using the M5 chart and a deposit of €1000. In the end, the EA carried out 916 trades and achieved a profitability rate of 86.90%. Consequently, a total net profit of €1833.27 was realized. Notably, this profit amount is quite small considering that the system traded using a 10-year period market data. The resulting drawdown was 5.94%. This is good as it shows that the robot traded with low risks to the balance.
GerFX Density Scalper live trading results
The above account was opened more than a year ago and deposited at €159.24. The EA has used this capital to generate a small profit of €56.31. The drawdown rate is also small, at 2.78%. This portrays GerFX as a safe trader. So far, €6.89 has been withdrawn from the account.
There are 521 completed trades with win rates of 81% for long positions and 74% for short ones. The average trade length is 45 minutes, while the profit factor is 2.41. To date, the best trade has earned the account a profit of €1.29, while the worst one has led to a loss of -€3.66. The EA has won 1135 pips for the user and has traded with 5.21 lots.
The account is still strong, and will be around for a while longer.
Out of the 11 instruments the system has traded with, it uses the EURNZD pair the least. This symbol has also reported more losses than wins, which explains the net loss of -€2.21 recorded.
March was the most lucrative month this year, with a profitability rate of 3.13%.
What are the risks with GerFX Density Scalper?
The EA is generally a safe trader. It has managed to maintain a low drawdown both in the current and past market conditions.
GerFX Density Scalper has a perfect score rating of 5/5 based on 7 customer reviews on mql5. Clients admit that the EA is good and generates small losses. The author is also commended for being professional and prompt in providing after-sales services.
What are the pros and cons of investing in GerFX Density Scalper?
|Live trading results are present||Expensive pricing plans|
|Multiple currency pairs are supported||Low profitability rate|
|Backtest report available|
GerFX Density Scalper Conclusion
The system features backtest and live trading results, proving that it can generate profits for users while applying minimum trading risks. But we have noticed that the EA comes with a hefty price tag. Worse still, the income it generates is very low. So it might take the user a very long time to recover their cost of investment.