NightProfit 2 (StarTrade) & (AUTOTRADE by myfxbook) – Review and validation

Profitability / Drawdown of NightProfit

Broker: IC Markets (real account)

(As of October 16, 2020)

Trading started in December 2015 and has been ongoing for a long time.

There was a drawdown period from December 2019 to May 2020.
After that, it is recovering.

The rate of return is not high, but it is profitable so far.

In addition, the maximum drawdown is also within a relatively small value of about 25%.

Trading Method of NightProfit

Entry

Entry will be made in a short-term contrarian manner from 22:00 to 1:00 in MT4 server time (GMT + 2/3).

In the MT4 transaction history chart below, you can see how short-term contrarian entries are made.
You can also see that the frequency of transactions is relatively high.

■ EURAUD 30M White = BUY Red = SELL

Since the entry is contrarian, it tends to lose in the trend market.
In the image below, you can see how a large stop loss is occurring due to a SELL entry in the uptrend.

■ EURAUD 30M White = BUY Red = SELL

The Asian session, which is the trade time of NightProfit, tends to be a range market, and this system makes a contrarian entry in the range market and accumulates small profits.
The take profit pips are also small, so the winning percentage is high.
However, if it becomes a trend market, a large loss will occur.

Exit

In most cases, your position will be closed in a few minutes to 2 hours.

Take profit is about 8 pips on average, and stop loss is about 14 pips on average.
This is just an average value, which can be a take profit at 100 pips or a stop loss at 100 pips.

However, you should be aware that the stop loss value is larger than the take profit.

Currency pairs and transaction frequency

On average for all currency pairs, the system makes entries about three times a day. The transaction frequency is high.

The number of transactions by currency pair is shown in the table below.

(As of October 16, 2020)

It trades in a wide variety of currency pairs (19 pairs).

Among them, the ones with the highest number of transactions are relatively minor currency pairs such as EURAUD, GBPCAD, and GBPAUD.

How to use NightProfit

There are two options to use NightProfit:
EA purchase or copy trade.

① Purchase of EA (NightProfit2)

You can purchase EA (NightProfit2).
The price is about 220 USD.

The NightProfit2 forward test was also published before, with good results halfway through.
However, a big drawdown period occurred from April 2020, and the results have not been released since then.

The following are the results before the suspension of publication of results.
Please note that we do not really know what the results will be after April 2020.

② Copy trade with “AUTO TRADE”

Copy trading is possible with “AUTO TRADE” provided by Myfxbook.

Open a broker account via “AUTO TRADE” and copy the trades to that account.
Copy trade usage fees are marked up (added) to your account spread.

One thing to keep in mind with copy trading is that delays in executing copy orders can lead to differences in developer account results.
NightProfit is a scalping EA that targets a few pips, so it can be very different from the developer’s account.

Also, during the time zone when NightProfit trades (GMT + 2/3, around 22:00 to 1:00), the spread of each broker widens and slippage is likely to occur.
Depending on the broker you use, there may be a large difference from the account published by the developer.

Summary of NightProfit

Profitable in long-term forward testing.

However, considering the following points, I do not feel like using it at this stage.

(1)The rate of return is not high
(2) The stagnation period is long, and the balance has not increased for about a year.
(3) NightProfit2, which is the purchased version of EA, is unclear because the results on myfxbook have been discontinued.
(4) It is a scalping system, and there is a possibility that it will be different from the published result regardless of whether it is EA or copy trade.