BF Scalper PRO

BF Scalper PRO - Review

Updated: Mar 11, 2022
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BF Scalper PRO

BF Scalper PRO - Review

Not profitable
Based on backtest and analysis

User Rating:

3.8 (5 ratings)
Platform:
MetaTrader 4
Market place:
MetaTrader Market
Price:

199 USD

Latest tested version:
1.9
Latest tested date:
Mar 3, 2022

Description from vendor:

BF Scalper PRO is the professional version of the very popular EA – BF Scalper EA. I have implemented a lot of new additional features and systems in this PRO version, in order to improve its overall performance. The improved exit logic reduces the drawdown and increases the efficiency of the system. In addition, the new ATR based Stop Loss calculating algorithm /as an option/ works excellent adapting the Stop Loss levels to the current market volatility, decreasing the drawdown and increasing the Profit Factor of the system. In order to prove that the system is profitable under real market condition, I’ve performed 99.9% quality, real tick data, REAL SPREAD backtest, which are promising.

Review

Table of Contents

Checklist

  • Demo signal available & profitable
  • Real signal available & profitable
    • Total Equity of real signal > 5 000 USD
    • Real signal older than one year
  • Buyer reviews credible & coherent
  • Passive & balanced marketing strategies
  • Sincerity & honesty of provider convincing (no signs of fraud)
  • Avoidance of dangerous strategies
  • Explanation of operation adequate
  • Backtest feasible
  • Set files available & up to date

Notes on the checklist:

If even only one point has to be answered with no, caution is advised. Furthermore, the presence of a profitable demo signal has a low significance for us. Because even if a demo signal exists and is profitable, no profitability on the real signal can be derived from it. Only if the existing demo signal is unprofitable, the real signal will be unprofitable with very high probability.

The checklist is based on the hints that can be read here: How to Detect and Avoid Expert Advisor Fraud and Scams.

General

Expert Advisor “BF Scalper PRO” is a Night Scalper that tries to make small profits during the night. The use of night scalpers can be very risky, it can even get “out of control”. Especially at night, due to lack of liquidity, large jumps in price can occur, which can lead to large drawdown. This can result in large differences between real results and backtest results, especially for a night scalper. Therefore, a broker with very low spreads is absolutely necessary, such as IC Markets. Unfortunately, it is not mentioned at any point that it is a Night Scalper.

Furthermore, the buyer should be aware of the fact that the provider uses psychological selling strategies, with the help of which the buyer is put under pressure not to miss the “offer”.

At the time of writing our review (10.03.2022), the provider has not published a real signal. While there is a profitable demo signal viewable, it has absolutely no validity in terms of real trading results, especially because it is a night scalper.

On the positive side, we noticed that the seller of BF Scalper PRO does not use any dangerous strategies. Furthermore, we liked the comprehensive user manual.

At the time of writing our review, BF Scalper PRO had a total of 43 reviews with an average of 4.15 stars awarded. We found that the proportion of buyers with low and higher ratings was quite balanced. We could not find any negative peculiarities in the buyer ratings.

Live signals

To verify the trading results, the provider has published two live signals; a demo signal and a real signal. The latter signal uses the grid strategy, the use of which we absolutely cannot recommend. For the reasons mentioned above, we cannot use both signals to evaluate the profitability of Export Advisor. We suspect that BF Scalper PRO (without using the grid strategy) is not profitable, which means that the provider cannot publish a live signal.

Live signals of the provider:

Profile of the provider on myfxbook.com with live signals of the Expert Advisor: forexwallstreet trader’s profile

Backtests

The backtests were created for the maximum available period (2003 – 2022). The following supported currency pairs with lot size = 0.01 were considered:

All supported currency pairs: GBPUSD, EURUSD, EURCHF, EURAUD, EURCAD, EURGBP, GBPCAD, USDCAD, USDCHF, USDJPY.

The backtest procedure and all necessary settings are described in detail here. For the backtests we used the set files provided by the provider. A comparison between the backtest results and the real trades could not be made. It should be noted that the profitability of the BF Scalper PRO is very strongly dependent on the spread, so that the following backtest results must be considered critically.

All Backtest Results

The provider provides two versions of set files: “standard” and “safe” set files. In the latter set files trading was disabled on Monday morning and Friday evening.

Standard set files

The figures below show the equity of the backtests of all currency pairs for the period 2003 – 2022, based on the standard set files.

BF Scalper PRO Standard 2003 2022 sub equities - BF Scalper PRO
BF Scalper PRO Standard 2003-2022 (sub equities)
BF Scalper PRO Standard 2003 2022 portfolio - BF Scalper PRO
BF Scalper PRO Standard 2003-2022 (portfolio)

Since the final years of backtest results are particularly relevant to the analysis, the figures below show the period 2020 – 2022.

BF Scalper PRO Standard 2020 2022 sub equities - BF Scalper PRO
BF Scalper PRO Standard 2020-2022 (sub equities)
BF Scalper PRO Standard 2020 2022 portfolio - BF Scalper PRO
BF Scalper PRO Standard 2020-2022 (portfolio)

The backtest results show that almost all currency pairs are not profitable. The overall portfolio seems to have reached saturation at the beginning of 2021, from which point the portfolio moves sideways. Only the two currency pairs EURAUD and GBPCAD can be described as conditionally profitable. Because even under backtest conditions they seem to be only possibly profitable. Under realistic conditions, i.e. when used on a real account, it is known from experience that especially Night Scalpers show a significantly lower performance compared to a backtest or a demo account. Therefore, these two currency pairs will most likely not be profitable. Furthermore, the EURAUD currency pair has reached a saturation point at the beginning of 2021. Since that point, this currency pair has been moving sideways. However, has made a slight profit at the beginning of 2022. The GBPCAD currency pair made up for the previous loss at the end of 2021 after about 3.5 years. However, both currency pairs cannot convince us in terms of long-term profitability.

Possible causes for the saturation can be an overfitting, a long-term change of the market situation or also relevant adjustments of the forex account on the part of the broker.

Safe set files

The figures below show the equity of the backtests of all currency pairs for the period 2003 – 2022, based on the safe set files.

BF Scalper PRO Safe 2003 2022 sub equities - BF Scalper PRO
BF Scalper PRO Safe 2003-2022 (sub equities)
BF Scalper PRO Safe 2003 2022 portfolio - BF Scalper PRO
BF Scalper PRO Safe 2003-2022 (portfolio)

Since the final years of backtest results are particularly relevant to the analysis, the figures below show the period 2020 – 2022.

BF Scalper PRO Safe 2020 2022 sub equities - BF Scalper PRO
BF Scalper PRO Safe 2020-2022 (sub equities)
BF Scalper PRO Safe 2020 2022 portfolio - BF Scalper PRO
BF Scalper PRO Safe 2020-2022 (portfolio)

The backtest results show that all currency pairs are not profitable. The overall portfolio seems to have reached saturation at the end of 2021, from which point the portfolio suffers a loss.

Tick Data Shift

In order to detect a possible fraud, we have created backtests for the two currency pairs ERUAUD and EURUSD (standard and safe set files) with tick data shifted into the past (Tick Data Shift). The comparison of the backtest results with and without tick data shift shows that they are almost identical.

BF Scalper PRO standard safe Tick Data Shift - BF Scalper PRO
BF Scalper PRO standard safe (Tick Data Shift)

Raw backtest results

We have tested with the lot size = 0.01.

In the backtest reports shown below, we have removed the individual trades for better presentation and readability. You can download the uncut raw reports as a zip file.

Standard set files

Set files: BF Scalper PRO set files standard
Complete raw Backtest reports without truncation: BF Scalper PRO Backtest 2003.01.01-2022.03.01 (standard)

Click on one of the tabs below to open the corresponding backtest. The backtest results are best viewed on high-resolution screens.

Safe set files

Set files: BF Scalper PRO set files safe
Complete raw Backtest reports without truncation: BF Scalper PRO Backtest 2003.01.01-2022.03.01 (safe)

Click on one of the tabs below to open the corresponding backtest. The backtest results are best viewed on high-resolution screens.

Final assessment

BF Scalper PRO seems to be a professional Expert Advisor, where the provider has put a lot of effort. Nevertheless, in our opinion BF Scalper PRO is not profitable overall (at least regarding the set files provided by the provider). Based on the backtest results, only two strategies/currency pairs are conditionally profitable. In our opinion, they will not be profitable when applied to a real account. However, this needs to be verified. Also, Night Scalpers can quickly show unpredictable results due to low liquidity, which can be more extreme with Real signals compared to Backtest and Demo signals. A broker with very low spreads is absolutely necessary, such as IC Markets.

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