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NightTradeEA Review

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NightTradeEA

NightTradeEA is a Forex expert advisor that was launched on 19th April 2021. It is sold on the MQL5 website, and according to the vendor, it has been tested successfully on live accounts for three or more years. Of course, we cannot simply take the words of the vendor at face value, and thus a thorough analysis of the system and its various aspects becomes necessary. 

How NightTradeEA works

We don’t have a detailed explanation for the features of this EA. The vendor has briefly explained how it works and shared a list of setup and trading recommendations. We also have the backtesting results, pricing information, and the link to a live trading account on MQL5. The presentation is not too detailed and we cannot get a clear idea about the robot’s working principle.

Mikhail Voropaev, the developer of this robot, is based in Russia. We have virtually no information on this individual and their service history. On their MQL5 profile, they have shared an email address, and it is mentioned that they have 1 year of experience. The lack of vendor transparency is quite concerning and it is not a sign of a reliable vendor. This developer has two other EAs called EastStar EA and ImpulsWD.

NightTradeEA is a 100% automated night scalper system that can work without manual intervention. It initiates orders within two hours between the Asian and American sessions. With all its trades, it protects its positions using stop losses and it avoids using strategies like grid and martingale. 

You can use this robot to trade in pairs like AUDCAD, EURAUD, EURCAD, CHFJPY, GBPAUD, GBPUSD, EURCHF, AUDUSD, USDCAD, EURGBP, EURUSD, and USDJPY. The vendor recommends signing up with a broker that offers raw and ECN accounts with low spread. Since it follows a high-frequency strategy, you also need to use a VPS server. 

After downloading the settings file for the pairs, you need to adjust the GMT time from the EA settings. Although the default time frame is M15, for some pairs, the robot uses the M5 timeframe. There are different risk settings for each currency pair, namely fixed lot, conservative, normal, active, and aggressive. Those who purchase the EA are eligible to join a private user group. The vendor advises the users to give the EA at least 3-4 months for evaluation.

Applied strategies

NightTradeEA is a scalping bot that conducts a large number of trades on a daily basis. It tries to take advantage of the minor price differentials between currency pairs. This is an extremely high-frequency strategy that can be difficult to execute for a beginner. 

Backtesting results of AUD/CAD.

The vendor has shared some screenshots of backtests, but since the parameters are all written in Russian, it is hard to make sense of them. We can see that there were 630 trades during the testing period and that the win rate was 79.37%. The EA had a relative drawdown of 35.44%, which is indicative of a risky trading strategy.

NightTradeEA trading results

Growth chart of NightTradeEA.

Unfortunately, we don’t have the verified trading statistics for this Forex robot. Most traders look for results published on third-party websites because they are authentic. This trading account on MQL5 has been active for 630 days. To date, it has generated a total profit of $6482.36. 

The account has a profitability of 75.02%, which is slightly less compared to the backtest. It has a profit factor of 1.22, and a maximum drawdown of 42%. The latter indicates a risky strategy, which we already suspected after analyzing the backtesting data.

Pricing & refund

NightTradeEA is available for a one-time fee of $199. You can rent the EA for 3 months by paying $99 and the 6-months rental option costs $149. There is a free demo version you can download for testing purposes. The vendor does not offer a money-back guarantee for this product, and this makes it an even riskier investment.

Customer reviews

User reviews for NightTradeEA on MQL5.

We couldn’t find any reviews for this EA on websites like Quora, Myfxbook, Forexpeacearmy, and Trustpilot. This indicates a lack of reputation and gives us one more reason to avoid this robot. There are a few reviews on MQL5 but we cannot consider them genuine.

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