Forex EA Review

Alfa Scalper EA Review – Does This MT4 Expert Advisor Deliver Profits?

Alfa Scalper

The Alfa Scalper EA is an automated trading system or Expert Advisor for MetaTrader 4 that claims to generate consistent profits. But does it deliver on its promises? This comprehensive Alfa Scalper review will examine all aspects to determine if it’s a worthwhile investment for traders.

Overview of Alfa Scalper EA

Alfa Scalper is an MT4 Expert Advisor created by Karl Dittmann and marketed by Alfa Scalper. It scans the market on multiple timeframes to detect profitable trades based on its proprietary algorithm.

Some key features of Alfa Scalper include:

  • Fully automated trading system requiring no manual intervention
  • Trades on multiple currency pairs including EUR/USD, GBP/USD, USD/JPY, USD/CAD, AUD/USD, NZD/USD
  • Applies Martingale money management system
  • Includes news filter to avoid trading during high-impact news events
  • Works on any MT4 broker with small spreads and fast execution
  • Easy to install and configure

Table 1. Alfa Scalper Key Features

Fully AutomatedNo manual intervention needed
Martingale Money ManagementIncreases lot size after loss to recover capital
News FilterAvoids trading around news events
MT4 CompatibleWorks on any MT4 broker
Easy To UseSimple installation and configuration

The EA runs on the MT4 platform and is compatible with most brokers. The only requirements are a broker with tight spreads and fast execution.

Alfa Scalper is marketed as a set-and-forget profit generator that can work year-round without any intervention. The sales page states it can deliver 300-800 pips in monthly profits.

But does the Alfa Scalper live up to its claims? Let’s dive into the details.

Who Created Alfa Scalper?

Alfa Scalper was developed by Karl Dittmann, a well known forex trader and creator of trading systems. He has released other popular EAs like Forex Millennium and Forex Cyborg.

On his website, Karl claims to be a full-time professional forex trader who wants to share his successful strategies through signal services and EAs. However, there is limited verifiable information about his background and trading career.

The lack of transparency is concerning. There are no track records proving the efficacy of his trading strategies. It’s unclear if he’s really a profitable trader or just a vendor selling forex trading products.

This raises doubts about the legitimacy of the Alfa Scalper software. Without real proof, traders cannot evaluate if Karl’s systems can generate consistent profits.

How Does Alfa Scalper EA Work?

According to the product website, Alfa Scalper is powered by an innovative Adaptive Smart Trend algorithm. It’s designed to identify high-probability trades and execute them automatically.

Here is an overview of how Alfa Scalper works:

  1. Real-time Market Scan – Alfa Scalper scans the market continuously on M1, M5 and M15 timeframes to detect trading opportunities.
  2. Identify Entry Points – The Adaptive Smart Trend algorithm analyzes price action and technical indicators to determine trend direction. It identifies precise entry points for Buy and Sell trades.
  3. Manage Trades – The EA places pending entry orders which get triggered when price reaches the entry level. It then uses trailing stops and take profit levels to secure profits.
  4. Martingale System – If a trade loses, the EA increases the lot size for the next trade to recoup losses. The number of martingale retries can be limited for risk control.
  5. Avoid News Events – The news filter detects high impact events and pauses trading 30 minutes before and after news release to avoid volatility.
  6. Notify Users – Notifications are sent about new trades, closed trades, and other account activity via email and push alerts.

The developer claims this unique approach provides reliable trading performance across different market conditions. However, past results do not guarantee future performance.

Table 2. How the Alfa Scalper EA Works

1. Market ScanScans market continuously to find trades
2. Identify EntryProprietary algorithm detects trend and entry points
3. Manage TradesUses stops and limits to lock in profits
4. MartingaleIncreases lot size after loss to recover capital
5. Avoid NewsPauses trading around high impact events
6. Send NotificationsEmail and push alerts about activity

By automating technical analysis and trade execution, Alfa Scalper aims to simplify Forex trading and deliver consistent profits. But let’s dig into whether it can actually achieve this goal.

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Performance Metrics and Backtest Results

Extensive backtesting of a trading system is essential before going live. It provides performance metrics and simulates real-world functioning.

Unfortunately, Alfa Scalper does not provide detailed backtest reports. There are only a few sample screenshots showing short periods of profitable results.

Without long-term backtests, traders cannot evaluate the EA’s metrics like total net profit, drawdown, win rate, risk/reward ratio, etc. Lack of historical testing makes the performance claims questionable.

Some key metrics traders should analyze before purchasing any EA include:

  • Total net profit – Overall profitability of the system after losses. Higher is better.
  • Win rate – Percentage of winning trades vs losing trades. Over 50% is good.
  • Profit Factor – Ratio of total profits to losses. Above 2 is generally acceptable.
  • Max Drawdown – Largest loss from peak to trough. Lower is better.
  • Risk:Reward – Ratio of average profit of wins to average loss. Above 1:1 is recommended.

Without verifiable statistics, traders cannot determine if Alfa Scalper has edge in the market and can trade profitability across different conditions.

Table 3. Key Performance Metrics to Evaluate in Backtests

MetricDescriptionIdeal Value
Total Net ProfitTotal profits minus lossesHigher is better
Win RatePercentage of winning tradesOver 50%
Profit FactorTotal profits / total lossesOver 2
Max DrawdownLargest peak to trough lossLower is better
Risk:RewardAvg. profit / avg. lossAbove 1:1

While the lack of long-term backtest results is concerning, let’s analyze the EA based on the information available.

Live Performance Results

Since verifiable backtests are not available for Alfa Scalper, traders must rely on live account results posted by users. However, these also lack sufficient trading history.

The Alfa Scalper website shows a handful of short 1-3 month live results. The highest claimed gain is $3,815 across 74 trades in 3 months.

While profits are shown during these short periods, such small sample sizes do not prove long term viability. Even losing systems can profit for a few weeks or months due to randomness.

To properly evaluate performance, EAs must be tested over full trading years including different market conditions. Short snippets of gains fail to provide the complete picture.

It is better to avoid EAs with no public backtests over 5-10+ years. Without proven long term records, the reliability of trading strategies remains uncertain.

Table 4. Guidelines for Evaluating Live Account Results

MetricMinimum Recommended
Trading History2+ years
Total TradesHundreds of trades
Profit ConsistencyProfitable yearly returns
DrawdownModerate 5-10% max drawdown
Market VariabilityProven across different conditions

The limited information provided by Alfa Scalper does not build confidence. There could be periods of huge drawdowns and losses that are not revealed to the buyer.

Overall, the lack of a verified track record is a major red flag in terms of expected live results.

Alfa Scalper Settings and Parameters

Alfa Scalper provides numerous customizable settings that traders can adjust – including:

Trade settings

  • Entry and exit rules
  • Stop loss and take profit
  • Martingale parameters
  • Max open trades
  • Time settings

Money management settings

  • Lot size calculation method
  • Risk percentage
  • Compound profits

Notification settings

  • Email, push notification options
  • Trading activity alerts

Other filters

  • Allow trading on certain days
  • Time filters
  • Max spread filter

These settings allow traders to configure the EA based on their risk appetite and market preferences. However, optimizing an EA and finding the best settings requires in-depth testing.

The default settings may be far from optimal. It takes significant time and effort to determine the ideal combinations for maximizing returns while minimizing drawdown.

Novices should be wary of over-optimizing EAs since curve-fitted settings rarely hold up well in live trading. The best systems work successfully across a variety of market conditions with default parameters.

Table 5. Key Alfa Scalper Settings Traders Can Customize

Setting CategoryCustomizations
Trade RulesEntry/exit prices, stops, limits, lot sizes, etc.
Money ManagementLot calculation, risk %, compounding, etc.
NotificationsEmail, push alerts for trading activity
FiltersTrading days, time filters, spread filter

With numerous adjustable settings, traders must take care to properly evaluate results across different parameter combinations to find the ideal settings.

Price and Subscription Cost

Alfa Scalper is sold through the vendor’s website for a one-time fee without any subscription. There are three pricing options available:

  1. Basic License – $149
  2. Silver License – $399
  3. Gold License – $699

The higher priced packages include some additional benefits:

  • Silver – Includes news trading EA
  • Gold – Includes news EA + updates + email support

The website also mentions discounted pricing can be offered on occasion.

In terms of value, Alfa Scalper sits around the average price point compared to similar trading EAs and signals. Lower priced competitors usually offer less features while higher priced ones offer more transparency and verifiable results.

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Given the lack of detailed backtests and proven long term records, the asking price seems excessive. Traders are essentially paying for empty promises without any guarantee of live trading success.

More established EAs with long track records of real results may be a better investment at comparable price points.

Table 6. Alfa Scalper EA Pricing and Features

Basic$149Alfa Scalper EA
Silver$399+ News EA
Gold$699+ News EA + Updates + Support

Considering the limitations, traders should think twice before paying the high one-time cost. The lack of transparency makes it a high risk investment.

Pros and Cons

Based on this extensive analysis, here are the main pros and cons of the Alfa Scalper EA:


  • Fully automated trading system
  • Customizable settings and filters
  • Works on any MT4 broker
  • No subscription fees


  • No verifiable backtests provided
  • No long term live results available
  • Developer lacks credibility
  • Indicator-based system prone to overoptimization
  • High one-time purchase cost

Table 7. Alfa Scalper EA Pros vs Cons

Fully AutomatedNo Verifiable Backtests
Customizable SettingsNo Long Term Track Record
Works on Any MT4 BrokerDeveloper Lacks Credibility
No Subscription FeesProne to Overoptimization
High One-Time Cost

The lack of transparency regarding historical testing and proven results makes it very hard to recommend Alfa Scalper despite some useful features. The risks seem to outweigh the potential rewards.

Who is Alfa Scalper For?

Alfa Scalper markets itself as a set-and-forget EA suitable for all trader levels from beginners to advanced. However, certain types of traders are more likely to benefit from it than others.

Best for

Not ideal for

  • Conservative traders looking for verified backtests
  • Those requiring proven real results before purchasing
  • Traders seeking value for money from expensive EAs

Beginners with limited knowledge may find it easier to use compared to discretionary trading. But the lack of transparency makes it an extremely high risk choice.

Overall, experienced traders accustomed to doing proper due diligence are less likely to be satisfied with the offering compared to amateurs.

Table 8. Best Traders for Alfa Scalper EA

Best ForNot Ideal For
Seeking Fully Automated TradingRequiring Verified Backtests
Customizable Trade RulesProven Real Results
Willing to Take RisksSeeking Value for Money

Traders looking for reliability based on verified results should look at other options or proceed with extreme caution due to unproven claims.

Verdict: Should You Get Alfa Scalper EA?

In summary, while Alfa Scalper advertises attractive claims of easy automated trading profits, it fails to provide any real proof those claims are true.

With no detailed backtests and lack of a verified track record, traders have no edge or confidence in the system. The credibility of the developer also remains doubtful.

Paying a high one-time cost for empty promises and marketing hype provides little value. At comparably priced competitors, traders can find far more transparency and reliability.

Overall, it is difficult to recommend Alfa Scalper EA due to the complete lack of accountability. Trading results seem to fall very short of marketing propaganda. It relies on people’s greed rather than offering evidence of skills.

For novice traders tempted by promises of quick profits, extreme caution is advised. There are no shortcuts to successful forex trading. Prudent risk management and proven strategies are essential.

The best automated systems clearly demonstrate long term profitability through many years of backtests and real account results. Alfa Scalper does not meet those standards.

There are better EAs for traders who take the time do proper due diligence. For reliable set and forget passive income, Alfa Scalper EA falls short. Look at proven alternatives before considering it.

FAQs about Alfa Scalper

Q: How is Alfa Scalper different from other automated EAs?

A: The main differentiator claimed is the proprietary Adaptive Smart Trend algorithm. However, without evidence of long term profitability, it is impossible to evaluate if it provides an edge over other systems.

Q: Can beginner traders use Alfa Scalper successfully?

A: In theory, the automated nature allows even beginners to run it. But lack of proven results makes it extremely high risk for novice traders. Learning skills and risk management is a better approach.

Q: What results can be realistically expected from Alfa Scalper?

A: Since no detailed backtests or account statements are provided, expected results are pure speculation. The claims made are doubtful without evidence. Conservative traders should expect an unproven EA to lose money.

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Q: Does Alfa Scalper work on all currency pairs?

A: The software allows running it across multiple currency pairs. But optimized settings likely vary for each pair. There is no data on which pairs perform best or worst.

Q: Can Alfa Scalper be used with a small trading account?

A: The EA allows use with accounts as small as $100. However, smaller accounts magnify risks. Sufficient capital is required to prudently trade any system.

Q: Is there a money back guarantee if Alfa Scalper loses money?

A: No guaranteed refunds are offered except for some basic technical faults. Given the lack of track record, traders have no recourse if the EA fails to profit or blows accounts.

The Bottom Line

Finding a consistently profitable forex EA is certainly an appealing idea for traders seeking passive profits. However, the lack of transparency and accountability seen with Alfa Scalper makes it a dubious choice unlikely to satisfy discerning traders.

While outcome cannot be guaranteed, prioritizing verified backtests, real track records, reputable developers, and fair pricing gives traders the best chance for long-term automated trading success.


About Amelia Clarke

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