Flex Beggar EA FREE Download
Looking for the Flex Beggar EA FREE Download link? This is an interesting scalping trading bot that shows good profitability without the use of martingale and grid. Before you install it on your trading account, please read this article to understand what trading strategy this Forex software uses and whether it is suitable for your account.
Trading strategy - Trading bot Flex Beggar EA
So, first of all, we note the fact that this trading bot is a scalper. He profits from fast trading with small targets. Of course, to use it, you will need a broker with an ultra-narrow spread (such as ICMarkets – we will explain this below).
The EA uses a time filter so that the Flex Beggar MT4 bot only works during the least volatile times (during the Asian session) when the biggest traders from Europe and America are out of the market. In simple words, he does not work around the clock, he only trades a few hours a day.
According to the author’s recommendations, this Forex bot is best used on the EURUSD, CADCHF, AUDNZD, EURAUD, USDCHF, EURCHF currency pairs. Although, on the website for the sale of this trading bot it is said that it can be configured for trading on other currency pairs.
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The main technical indicator used in this Forex trading bot is Bollinger Bands and moving average. Flex Beggar EA determines the direction of the trend using the moving average (to trade only in the direction of the medium-term trend). With the help of Bollinger Bands, this Forex software detects spikes in volatility and opens trades when quotes reach the extremes of volatility in the Bollinger Channel.
There is almost no information about this trading expert on the web. It was developed by an Asian trader and is similar to many other scalping robots. Here is a test of the Flex Beggar EA trading robot in the MT4 strategy tester:
As you can see, in the tester it gives an excellent result. What profitable statistics does this Forex bot give on a real account? We don’t know about it. On the Internet, we found a profitability chart for EA Flex Beggar MT4 bot, but we cannot know how reliable this chart is, on which asset the trading robot made deals and on what time period it traded…
The timeframe for using Flex Beggar EA is М5. This is the most popular time frame for scalping during the Asian session. The thing is that this is a low-volatility time and on H1 the quotes are almost in a stationary state. So, the only option is to switch to a small timeframe. We repeat once again that for scalping on M5 you need a special type of account, namely ECN or RAW, such are offered by ICMarkets.
The leverage is 1:500 so that the EA can use a large volume of the transaction for trading. We said above that Flex Beggar MT4 bot takes a small amount of profit points in each order. Accordingly, in order for the trading result to be large in monetary terms, it needs a large lot size for trading. Thus, you need a lot of leverage.
The minimum capital to start is $200. Although if you fund your trading account with $1000 it will be even better.
Flex Beggar EA does not use dangerous money management methods, that is, the martingale or the grid system. So, you can safely use it on a small account. Moreover, Trading bot Flex Beggar protects every trade with the Stop Loss function. This means that if the price goes in the wrong direction, the transaction will be closed forcibly and the loss on your account will not increase.
As we noted above, any scalper robot is extremely sensitive to the spread size. Considering that the Flex Beggar MT4 bot works during the Asian session (when the market spread is high, you absolutely need a broker with an ultra-narrow spread. It will also be good if you rent a remote desktop to ensure your trading robot is 24/7 and uninterrupted access to the financial market.
We will not post the Flex Beggar EA FREE Download link to avoid violating the rights of the developer. We think you will find an opportunity to download a hacked version of this robot on another site or buy this MT4 bot on the developer’s site.