Sodobe Scalper claims to be a low-risk and no scam expert advisor. As per the developer, this scalping robot is from the top 5% of the professional traders globally and has been verified for 20 years. The developer maintains that this EA has never blown an account. This MT4 system is mainly programmed to work on the gold XAUUSD pair.
How Sodobe Scalper EA works
As per the info that the developer provides, this ATS uses a scalping approach that uses statistical probability and AI. Big data is used for verification of over 300 million records and over two decades of data on Gold.
Nguyen Van Cho is the developer of this MT4 tool. He is based in Vietnam and is the manager at Sodobe. He has developed one product and four signals. To contact the developer, you can use the MQL5 messaging option. The inadequate support raises doubts regarding the reliability of the system.
From the info provided on the MQL5 site, the EA uses the TP value as 5 ATR and 8 ATR for stop loss using the M1 timeframe. For achieving the highest winning rate and minimal drawdown, the EA closes trades when the price crosses the buy/sell level. As per the developer, the average holding time for the trades is 45 minutes.
Applied strategies
This FX EA uses a scalping approach with the help of AI and statistical probability. Big Data is used for verification. We find the explanation is very vague making us suspect the reliability of the expert advisor. A few backtests are present on the MQL5 site. Here is one of the backtesting reports:
From the above report, we find the strategy test has been done on the XAUUSD pair using the M 1 timeframe from 2010 to 2021. Modeling quality of 99.9% was used for the test. A total net profit of 62478.32 was generated from an initial deposit of $1000. For a total of 794 trades, the profitability was 67.76% and the profit factor value was 1.61. A maximum drawdown of 18.10% was present for the account. From the results, we find that the drawdown was high and the profits were low indicating a risky approach and less than average performance.
Sodobe Scalper trading results
A real trading account result is posted on the MQL5 site for this EA. Here is a screenshot of the trading results for the account using default EA settings.
From the trading stats, we can see the account started in July 2021 with an initial deposit of $772.58 has generated 8.42% growth with a profit of $77.42. A maximum drawdown of 18.3% and profitability of 56% are present for the account. From the low profitability and high drawdown, we find the approach is not an effective one. Furthermore, the site mentions the absence of trading activity for the past few days. The trading sample is very small so it is difficult to assess the quality of the trades.
Pricing & refund
This EA comes with a price tag of $490 for the lifetime license. However, users who find the amount expensive can opt for the rental packages that cost $90 for 3 months and $270 for a year. A free demo offer is also present. The developer does not provide further details of the package and there is no refund policy. This raises suspicion on the reliability of the EA.
Other notes
We found three reviews for this EA on the MQL5 site. Since the site promotes the product, the chances of the reviews being manipulated are high. We could not find feedback for the FX robot on reputed sites like Forexpeacearmy, Trustpilot, etc. The lack of user feedback reveals this is not a well-known system.
