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Evening Scalper Pro Review

May 30, 2022 by Forex Winner Leave a Comment

Evening Scalper Pro

Evening Scalper Pro is a Forex robot that supposedly has live track records that demonstrate a high win rate and a low drawdown. The system was introduced to the public in April 2022, and according to the vendor, it does not implement martingale or grid strategies. Instead, it only enters a trade with market orders and accompanies each trade with a stop loss. 

Detailed Forex robot review

We have outlined the features of the system below:

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  • The robot supports multiple currency pairs, including EURNZD, EURAUD, AUDNZD, NZDCAD, AUDCAD, EURGBP, GBPAUD, and GBPCAD.
  • It is compatible with FIFO.
  • It works on both MT4 and MT5 accounts.
  • The recommended timeframe is M5.
  • Only one chart is used for trading all symbols.
  • It includes an advanced news filter, stock market crash filter, and a negative swap filter.
  • The system does not open trades during low liquidity periods and bank rollover.
  • It should run on a VPS continuously.
  • It requires a hedging account.
  • The EA needs good brokerage conditions like low spreads and slippage during rollover time. So, a good ECN broker is recommended. 

Evening Scalper Pro strategy tests

The EA is a scalper that applies the mean reversion strategy during the American trading session. Therefore, it takes advantage of extreme changes in the pricing of certain currency pairs, presuming that the price will slip back to its previous state. According to the developer, this EA is different from other scalping systems because it utilizes a distinctive trading logic on cross pairs with a solid mean-reverting tendency with high-profit targets. The robot doesn’t initiate trades during rollover (0:00-1:00) but rather makes entries to the market with market orders from 19 to 23 hours. 

Valeriia Mishchenko is the developer of this system. However, her professional background is not revealed, so we don’t know if she has the right qualifications to create trading systems for this market. In any case, she has also developed two other robots, namely Waka Waka EA and Night Hunter. 

Backtest results.

The EA was tested using 2007-2022 Dukascopy tick data. Within this period, it managed to generate 24M+ profits from a small deposit of $300. The resulting profit factor was 3.36, indicating that the robot was able to generate substantial returns on investment. There were 3016 executed trades, which produced a low drawdown of 14.46%. This shows us that the robot’s trading activities were safe. The win rates for short and long trades were 81.78% and 78.72%, respectively. 

Live account trading results

Live trading results on Myfxbook.

Evening Scalper Pro is currently managing a small investment of A$50 on Myfxbook. The earnings generated (A$12.64) are also small, given that the system has been trading on the account for 5 months now. The average monthly profit rate is 4.46%, while the daily profit rate is 0.15%. A drawdown of 18.19% has been generated, so the capital is still safe. 

Trading performance.

A profit factor of 1.32 has been generated from 62 trades. Losses are much higher than the wins. This explains the average loss (-24.73 pips) that is twice as high as the average win (11.13 pips). The long positions (83%) are more successful than the short ones (71%). The best trade has made a profit of $2.51, but the worst one has caused the account to lose -$6.72. There are 0.62 traded lots, while the commissions are -A$3.72. 

Trading history.

The EA works with fixed lot sizes (0.01), and true to the vendor’s claim, a stop loss is attached to all orders. Profits made from trades are pretty small. 

Monthly gains.

The profitability of the EA has been declining with time and has worsened in May, causing the account to suffer a loss of -15.03%. 

Pricing

Evening Scalper is priced at $799. Only two copies are left at this cost, and when they are sold, the vendor will hike the price of the EA to $899. 

The EA’s price.

Customer reviews

As you can see in the screenshots below, traders have expressed their satisfaction with the vendor’s ability to create an effective tool. As one of them says, Valeria provides top-notch EAs that work well on backtests, and he hopes that this system will produce good outcomes in the live market. Another user has confessed to having a good experience with the system, though he has not given specific details to help us understand what he means. We did not find any negative reviews. 

Positive user feedback on MQL5.
Review Summary

The robot is designed to work on both the MT4 and MT5 accounts. It has been trading live on Myfxbook for close to 6 months and has been keeping the drawdown low. So, it will unlikely endanger your capital. But you have to note that the EA is very expensive, and the declining performance means that it might fail to give you a significant ROI in the long run.

Advantages
Live trading results are available
Low drawdown
Compatibility with MT4 and MT5 accounts
Disadvantages
Expensive pricing
Declining monthly performance
Unfavorable risk/reward ratio
6

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