Before proceeding to describe the trading advisor, I would like to make a digression from the topic and define the terms. Many traders spend a clear distinction between pipsing and scalping. Despite the fact that both strategies are intraday, the difference therebetween is still there. When a trader is scalping to profit taking in a few points (pips) using the maximum position sizes. This is a potential profit of 2.10 points and the same risks. But scalping involves taking a broader movements (20 to 70 points), opening a less aggressive manner. Here we will not discuss the pros and cons of the above trading strategies, and proceed to consider trading advisor for scalping.

Commercial Counsellor - a program integrated into the trading terminal and implements the algorithm specified on purchase/sale of financial assets. Popular information MetaTrader trading system has a set of standard advisors. But the user can himself to write an algorithm for trading advisor with a special programming language. Advisor for scalping is an automated trading system that uses one or more indicators (example: MACD, RSI or moving averages), and were committed within the day a lot of operations on the minimum time intervals (up to ticks).

Pros and cons of using a counselor for scalping.

Consider the pros and cons of any appropriate advisor in comparison with the same hand strategy. As with any other algorithm, from the advisor for scalping has its strengths and weaknesses. Thus, the positive aspects:

• No need for constant monitoring of the process of trade (it significantly reduces the psychological burden on the trader);
• Smoothed curve of capital, low drawdown;
• The possibility of rapid acceleration of the account.

Add a spoonful of tar in our barrel:

• Risks associated with a sharp increase in volatility and a widening of spreads;
• Taking a very limited part of the profit in the event of a strong directional momentum in the market.

It should be added that a more or less comfortable working councilor traded instrument must have some qualities. Namely, to be quite volatile and have a narrow spread.

For the beginners, before you start working with a counselor on a real account, it is recommended to get acquainted with the logic of trading algorithm to test the system on historical data, analyze the results, find out how much the average characteristics of the equity curve meet the requirements in terms of risk/return profile. And only then make a decision on the inclusion of a counselor in your trading arsenal.