SFE Night Scalper (EA) Review and Rating
SFE Night Scalper is an EA sold in MQL5.
The purchase price is expensive, but it is an excellent EA. However, I recommend that you consider your purchase after understanding the characteristics and risks of this EA.
Trading Logic of SFE Night Scalper
This is an EA that performs scalping during the period from the end of New York session to the start of London session.
In other words, trading takes place at night time in Europe (London time around 21:00-7:00).
This time overlaps with the Asian session. It is a time zone where the price movement is relatively calm.
SFE Night Scalper will open positions in the contrary direction at this time zone.
As shown in the image above, the position is opened when the price touches the price channel line drawn on the upper side (red) and the lower side (green). The direction is the contrary side.
The price channel that forms the basis of entry can be adjusted with parameters.
No entry will be made if the volatility is too small.
I think this EA has a very reasonable entry logic.
Lot Size Calculation
This EA is designed to open about 3-4 positions simultaneously in the same lot.
The position is opened at the same time.
The high-risk grid trade is never adopted. Also, martingale is not adopted.
I think that opening positions of the same lot at the same time has both advantages and disadvantages. I think that it is good in terms of reducing fluctuations in profit and loss and producing stable results.
In the image posted in the entry point section, the price is reversed at the just timing. In reality, however, prices may move significantly in the same direction as before.
Such contrarian trading type EAs often accumulate profits and suddenly lose a lot.
However, this EA has maximum drawdown of about 35%, and the timing of the loss cut seems to be excellent.
Both take profit and loss cut are around 10pips.
Most trades are completed within 6 hours.
If you carry the position for a long time, the market situation will change from the time of entry, and there are cases where there is no reasonable reason to hold the position.
It is a good point that the position is closed early.
Since it is a scalping EA, it is affected by broker spreads and slippage.
Developers recommend IC Markets, which are used in Myfxbook public accounts.
For brokers other than IC Markets, I don’t know what the results will be.
If you use this EA, it is not recommended to use other brokers.
Trading Results and Notes of SFE Night Scalper
The results of two types of accounts are published.
* All currency pairs that have been traded are displayed, but the currency pairs that are currently recommended to operate are different.
Both accounts have made stable profits so far.
However, a big dodown has occurred in January 2019. The developer explains that this drawdown is a very rare case caused by a flash change in the market, and that EA has taken measures to prevent this situation.
This drawdown has been recovered after about six months.
Cross CHF pairs show better results. This is due to the fact that the figures were close to + 100% during the first 1-2 months. Results after the first 1-2 months are about the same as the other account.
So the cross CHF pair may not give better results in the future.
What I want you to pay attention to in the results published on Myfxbook is the amount of deposit and the balance.
With a deposit of € 2200, the balance has grown to around $ 4500 in January 2017, but since then the account balance has not increased. This does not mean that there is no profit. This is because funds are withdrawn from the account.
In addition, the cross CHF pair makes big profit with deposit of € 300, but since it is withdrawn regularly, the balance has not increased from € 2400.
Why are withdrawals made frequently?
Scalping EA also has a risk that if the trading lot size increases too much, the slippage will increase and profits will not be generated. It’s just a risk and I don’t know if it really will.
This developer may be making frequent withdrawals to avoid such risks. This is only possible and I don’t know the truth.
But if you’re considering buying, you should be aware of the risk of not profiting as the lot size grows, even if your balance grows in the future.
Conclusion of SFE Night Scalper
It has produced good results and is currently the best EA among the scalping EAs.
The average monthly profit rate expected from this EA would be 4-7%.
However, since the purchase price is 1200 USD and it is expensive, it will take a considerable amount of time to recover the purchase price if it is not operated with a large balance.
Even if it is assumed that the average monthly profit rate is 7% and it is compounded, if it is operated with an account with a balance of 1000 USD, it takes about 14 months to recover the purchase price.
Furthermore, there is no guarantee that this EA will continue to make profits in the future.
It may be worth using if you can prepare a large balance, but if you can’t afford it, it will be a risky investment.
Also, even if you have enough money, you must understand that it is uncertain what the results will be when the lot size increases because it is a scalping EA.
However, I think it is a very good EA, except that the purchase price is high and the results when trading in large lots are uncertain.