The Luxor Scalping Robot MT4 is an automated trading robot that, despite its name, operates more as a grid EA than a traditional scalping EA. Using several indicators, it primarily employs a grid strategy, which can increase both potential returns and risk.
This EA’s grid method allows for a high return on investment (ROI), but there is also a risk of depleting the deposit. According to its developers, the Luxor EA can deliver substantial profits. However, the profitability largely depends on the lot size and risk settings you choose. Over extended use, there is a possibility of account drawdown. The recommended approach is to withdraw initial profits periodically to minimize risk. Once the initial investment is recovered, the risk associated with the grid strategy decreases, making the EA more likely to operate at break-even or better.
Before using Luxor EA in a live account, it’s recommended to test it on a demo account for at least a week to understand its behavior and adjust settings accordingly. 
The strategy with Luxor EA is to gain profits quickly and withdraw them promptly. While the grid approach offers fast returns, it comes with higher risk, so a key rule is to withdraw funds once the deposit doubles. Alternatively, you can run it more conservatively with a larger deposit to manage risk more effectively.
Recommendations for Luxor Scalping Robot MT4
Minimum Account Balance:
- Risky Method: Start with a minimum $50 account and withdraw profits once the deposit doubles. This method is high-risk, capable of doubling a $50 account within a week, though it can also lead to drawdowns, especially in volatile markets. Turn off the EA and close trades during major news events to help manage risk.
- Safe Method: Use a minimum $100 cent account (or equivalent) for more conservative trading.
Best Pairs: EURUSD, GBPUSD, AUDUSD (but works on other currency pairs).
Best Timeframes: Optimized for M5 and M15, but adaptable to other timeframes.
Market Conditions: Avoid volatile market conditions (such as during major news releases) by monitoring and manually closing trades if needed.
Recommend running this free forex EA on a VPS (Vultr)
Low Spread ECN account is also recommended Icmarket and Exness
