NightTradeEA Review

Nov 22, 2021 06:08 PM ET
NightTradeEA Review

NightTradeEA is a completely automated night scalping system. It opens orders between the Asian and American sessions. As per the developer, Mikhail Voropaev, this EA has a proven track record of more than three years. Published on the MQL5 site in April 2021, this ATS is in version 3.32 now. The developer is based in Russia. He has one year of experience in the field and has three products and four signals to his credit. He can be reached via Skype and the message board on the MQL5 site. An email address is also present. 

NightTradeEA

Type

Fully-automated EA

Price

$259

Strategy

Night scalping

Compatible Platforms

MT4

Currency Pairs

Multiple currency pairs

Timeframe

M15, M5

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

N/A

Trading strategy explanation

According to the developer, this FX EA does not use risky approaches that endanger the account like the grid and Martingale methods. All orders come with an SL for protection. The developer claims that the MT4 tool has numerous settings that allow customization and include currency pairs that do not have settings.

The EA opens orders in the two hours present between the American and the Asian sessions. We find the lack of explanation of the strategy suspicious. The absence of info on the approach raises a red flag for this expert advisor.

Recommendations for the ATS include the use of ECN or RAW accounts that have minimal spreads and the use of a VPS server for stable operation.

Backtest data analysis

Backtesting report of NightTradeEA.

A few backtesting results are present on the MQL5 site. One of the strategy tester reports is shown above. From the stats, we can see the demo test was done on the AUDCAD pair from 2017 up to 2021. For a deposit of $1000, the account had generated a profit of 552187.04. The maximum drawdown for the account was 12.37% and the profit factor was 2.50. Profitability was 79.37%. From the results, the performance looks decent with a low drawdown and high profits. However, as the developer mentions on the site, the results cannot predict a similar outcome in real trading.

Live trading data analysis

Trading results

MQL5 Signal

Real (USD), ICMarkets

Started

April19, 2021

Deposit

$200

Balance

$2048.53

Gain

8729.57%

Daily

N/A

Monthly

18.20%

Drawdown

42%

Profitability

75%

A live signal is present for the EA on the MQL5 site. The screenshot below shows the trading results:

Live trading results for NightTradeEA.

From the above report, we can see that the account shows growth of 8729.73% for a trading history of 629 days. A profit of $6485.57 is present for the account. The drawdown is 42% which is very high and shows the risky approach used by the EA. Profitability of 75% and a profit factor of 1.22. Comparing the backtesting results with real trading results we find the drawdown is very high and profits are low. The poor performance proves the fact that backtesting results do not predict a similar high performance in real trading.

Pricing

To purchase this FX EA, you need to pay $259. Rental options are present which cost $99 for three months and $149 for 6 months. A free demo offer is present. The developer does not provide further details on the features available with the package. There is no money-back guarantee present for the product which makes us doubt the reliability. 

Customer reviews

There are 9 reviews present on the MQL5 site for this FX EA with a rating of 5/5. We are suspicious of the high rating. Since the site promotes the product, the chances of the feedback being manipulated are high. We prefer reviews from reputed third-party sites like FPA, Trustpilot, etc. The absence of reviews suggests this is not a popular product.

Review summary

Pros

  • Fully automated software

  • Live signal

Cons

  • No explanation is present for the strategy

  • Trading results show a high-risk approach

  • The product is overpriced

NightTradeEA claims to have proven results indicating a successful trading tool. But our evaluation of the FX EA and its characteristics reveal this is not a reliable system. To start with, the developer does not explain the approach used. Other than mentioning the night scalping method, there are no details present. While the developer contends that this MT4 tool does not use risky approaches, real trading results show a high drawdown indicating the approach used is dangerous. Further, the product is overpriced and does not come with a refund offer. The inadequate support and the absence of user reviews show this is not a trustworthy expert advisor.

Rating: 4/10


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