Is News Scope EA Pro good-to-go?
As soon as we reach a presentation of News Scope EA Pro we’re offered by the limited time offer.
The robot has been designed by FXAutomater. We can see 2020 numbers on its box. It allows traders to work during high impact news. “Usually, when a major news event occurs, the price spikes in one, or both directions and this creates an opportunity for short-term scalping. If the magnitude of the price movement is strong enough, the trader cold gain 20, or in some rare cases even more than 100 pips in a few seconds. Of course, nothing is perfect and the liquidity issues in such high volatility moments could lead to spread increase, execution delay and slippage. However, in the last years, the brokers’ conditions improve continuously and the spreads during major news events are lower than ever. This creates a good opportunity for profitable news trading,” devs explain the strategy and performance.
How News Scope EA Pro Works
The list of features looks like this:
- Fully-automated and semi-automated trading.
- Precise time and news detecting filters.
- High spread detection filter.
- Single or multiple-cascade orders modes.
- Trailing stop feature and back-tick detection.
- NFP and FOMC only trading mode.
- 17-years backtests.
- Improvement exit logic
- Email and Push Notification system
- Low drawdown level
- Multiple currency pairs support EUR/USD, GBP/USD, AUD/USD, USD/CAD, and USDJPY.
- M1 time frame.
- Set files for each symbol provided.
The devs warn us about right choosing a broker “Use “News Scope EA PRO” only on well-known ECN brokers with a good reputation. If you notice repeatedly unusual spread increase, too high slippage, or execution delay, you should not use News Scope EA PRO on this broker anymore.”
Setting up News Filter we have to be sure we allow requests.
As usual, the devs explain robot settings in the presentation.
The set files were provided, but we don’t know why they were not implemented in the robot by default.
News Scope EA Pro trading results
There provided 7 backtests. Let’s take a look at GBP/USD one. It was performed for the 2009-2020 period, on the M1 timeframe. The modeling quality is 99.9%. The initial deposit was $5000. The total net profit equaled $31K. The profit factor was 2.12. The short positions’ win rate was 60.27%, longs’ one was 53.97%. The max drawdown was 5.84%.
The devs provided all information to let us perform backtests on our own.
Pricing & Refund
The robot costs $120 with -20% OFF. For this money, we’ll get one real account, three demo ones, the best support, and a 60-day money-back guarantee.
Summing up
Pros
- FXAutomater design company
- Strategy and settings well-explained
- Backtests provided
- Cheap price
- The 60-day money-back guarantee
Cons
- Settings for every symbol apart from the robot
- No trading results provided
- Cheap price
