What is a Hamster EA?
Hamster expert advisor is one of the most famous trading experts using the scalping method. But there are various opinions about it. Many users believe that if you put a low amount of capital into a Hamster robot, it would probably result in loss, and the people with a large amount of capital also will not profit much; nevertheless, it would have been a high-risk trade. To learn more about Hamster robots, please stay tuned.
About Hamster Forex expert advisor
The hamster EA is one of the most controversial robots of recent years that, based on what its developers claim, could earn a lot of profit by scalping. To learn more about this robot, you need to visit the MQL website. Unfortunately, the developer company shares no information about the way it works, its strategy, and the trading method of this robot. There is only information about the creator of the robot; his name is Ramil Minniakhmetov.
Currently, this robot has many people against it, but we are going to learn more about Hamster expert advisor in this article.
The low cost of the Hamster robot (30 USD) caused many investors to try it at least once. However, the user satisfaction rate of this robot is very low. There are other robots in the forex market that perform better than the signal robot. To see the specifications of robots such as the Alpine robot, check the “buy forex EA” page.
Hamster Forex expert advisor installation training
If you are wondering about installing this robot, please stay tuned to learn how to get it done.
To install this robot, you only need to open your metatrader and search for a Hamster ea. Or you could visit the MQL5 website directly and search Hamster to get to the following page.
You can use your metatrader or MQL5 website to easily install this robot with a full installation guide.
At this point, you will purchase a Hamster expert advisor, and then by clicking INSTALL, it will automatically install on your metatrader, and you don’t need to do more.
Hamster Forex expert advisor work training
After installing, you will face several options for setting up Hamster ea that you could adjust based on your needs.
Learning more about Hamster robot’s setting options:
- Up level: The upper level of the first indicator, which opens an EA Sell above it.
- Down level: The lower level of the first indicator, which opens an EA Buy below it.
- FROME: The lower bounds of the range of values for the second indicator, in which the EA is allowed to open positions.
- TO: The upper bounds of the range of values for the second indicator, in which the EA is allowed to open positions.
- LOT: Primary lot
- Autolot: Enable/disable automatic lot calculation.
- Max Lot: Maximum amount of lot for EA.
- Take profit: Desired profit limit.
- Stop loss: Desired loss limit.
- Virtual take profit: withdraw profit
- Option take profit: withdraw the profit based on the current price.
- Level of profit: Choose how to calculate profit based on point-to-point/last order.
- Virtual stop loss: stop loss
- Options stop loss: choose how to stop loss based on the current price.
- Max orders: Maximum number of open orders
- Start hour: starting hour of EA operation
- End hour: Ending hour of EA operation
- Use Wednesday logic: If this option is enabled, the robot will not work on Thursday nights. If disabled, it will work normally.
- End time Friday: stop trading on Friday
- Max spread: Maximum spread at which the EA is allowed to open and close positions.
- Show statistics: showing/hiding statistics.
- Show button close: Enable/disable the closing orders button.
- Font size: adjusting the font size of the panel
- Close all orders at take or stop: Turn on/off, closing both directions at the same time.
- Imp1 DRAW، Imp2 DRAW، Imp3 DRAW: Display news on the chat (on/off)
This is a complete list of Hamster robot’s setting options.
In the upcoming part of the article, we will inspect the best trading session of the Hamster robot.
The best session for using the Hamster EA
The best session for using the Hamster EA is London and New York’s session, Overlabe. Users claim that they had the best result on this session, which is logical because the strongest tremor possible happens when London and New York’s trading sessions cover.
Best symbols for the Hamster Forex expert advisor
Hamster EA could not be used simultaneously on several trading symbols. The best symbols for this expert advisor are GBU/USD, EUR/USD, and XAU/USD.
The best time frame for using the Hamster expert advisor
The Hamster expert advisor is an EA based on the scalping strategy. So running it in the short-term, such as 5 minutes and 1 minute, is the best time frame to activate the Hamster robot.
Also, The Hamster robot is one of the famous Forex robots which hasn’t been well performed. Several issues, like not knowing the creator, unclear trading strategy, lack of real support, etc., caused the users not to trust this robot at all.
The Forex hamster robot functionality
The reality is that there’s still much debate about the functionality of the Hamster Forex robot. Some users find its performance positive; On the other hand, others consider it a scam and a liar that can only perform positive trades for a very short period of time and gradually begins to cause losses.
Now, several years after the Hamster robot was published, the number of dissatisfied users with its performance is increasing.
The Forex hamster robot trading strategy
Unfortunately, the robot creators did not provide complete information about the exact functioning and strategy used in this robot. The only thing that users know about the functioning of the Hamster robot is that it’s a scalping EA.
Pros and cons of the Forex Hamster EA
In general, it is difficult to consider specific advantages and disadvantages for such a robot whose large parts of its performance are ambiguous. It is recommended that investors and traders be very careful when buying such robots and EA that have unclear performance because experience has shown that these robots are usually designed to generate income for the creators and do not have suitable performance. Therefore, it is recommended to purchase your trading robots and EA through reliable companies such as Express Advice.
The best Alternative for Hamster expert advisor
As we observed the Hamster Forex robot, we realized there are some essential problems that need to be considered:
- Its performance is ambiguous.
- No clarification on the trading strategy.
- No users satisfaction
- Low profitability
According to the points that are mentioned, we decided to introduce you to the best-performing alternative robots.
Express Advice is a reputable company providing profitable robots like Hermes EA. The HERMES expert advisor is registered on the MyFXBook website, and all its trading results in recent years are available on this site online. If you want to be informed of the most essential features of this robot, stay with us. We listed some of them in the following:
- Use market reversal points
- Use a 5-minute timeframe
- Ability to use simultaneously on multiple currency pairs
- Verified by the MYFXBOOK reference site
- Ability to perform financial management itself
- Activation on 2 MetaTrader accounts
- Continuous and free updates
These features allow users to make a profit from the Alpine EA with confidence! No need to worry about credibility.
What we read in the Forex Hamster robot
From what we read in the Hamster Forex robot article, the Hamster EA has been seen through recent years, but close analysis shows that it may be functioning unsatisfactorily in the long term. Most of the users of the hamster reported that if the initial balance is low, this robot will quickly cause losses. Such robots are usually designed for misuse. Also, for more information about buying reputable trading EAs You can read more articles.