News Catcher is a trading system that works with a hedging account. It is FIFO compatible and trades occasionally, especially before a high-impact news event. The system was published on mql5 just recently, and to date, its demo version has been downloaded 1338 times.
Detailed Forex robot review
The following features characterize News Catcher:
- It trades on 3 main currency pairs, which include EURUSD, GBPUSD, and EURGBP.
- The system supports both the MT4 and MT5 terminals.
- The recommended timeframe is M5.
- It does not use a grid or a martingale and uses a stop loss to protect every trade.
- Only a single chart is needed to trade all pairs.
- The Ea comes with an advanced news filter and self-diagnostic system.
- A good ECN broker is recommended.
- It should run on a VPS continuously.
Valeriia Mishchenko is the brains behind this system. Nothing much is known about her, only that she is a Russian resident and the creator of Night Hunter, Evening Scalper Pro, and Waka Waka EA.
News Catcher strategy tests
This EA works with the mean-reversion strategy that applies intraday seasonal volatility patterns resulting from high-impact news events. As per the vendor, the robot enters the market at a particular time shortly before the occurrence of a high-impact news event. Notably, it does not place trades regularly.
The developer showcases the backtest data of this tool, but it is not detailed. We only have a chart saying that the EA worked with 2008-2022 market data using a fixed lot size of 0.1. The growth chart also suggests that it generated profits progressively during this trading period.
Live account trading results
Here we have a demo EUR account hosted by IC Markets. It was launched more than a week ago and deposited at €1000. To date, the EA has earned this account €26.52, increasing the balance to €1026.52. The system makes a daily profit equivalent to 0.26%. The monthly profitability rate is higher at 2.65%. Safe trading activities are employed as we only have a low drawdown of 2.46%.
A total of 6 trades have been executed, and all the short and long positions have been successful. The pips won are 170.1, whereas the traded lots are 0.10. On average, a position can be held for 2 hours and 11 minutes. A commission of €0.56 has been deducted from the account.
The robot works with varying lot sizes and places SL and TP levels on each order. All trades have made profits.
News Catcher is quite expensive as the vendor expects users to pay $899 to enjoy its services. Still, the developer plans on increasing this price to $999 after the 6 remaining copies are sold out. The price will supposedly remain high to decrease the number of users. A money-back guarantee is unavailable.
There are 13 customer reviews for this product on mql5, and every user is singing its praises. In essence, most traders express their confidence in the vendor’s ability to develop effective and profitable EAs.
News Catcher doesn’t work with risky strategies, and by attaching a stop loss to each order, the system ensures that the trader minimizes their risk of making losses. So far, it has succeeded in generating profits from all orders placed, which is a good thing. However, 8 days is such a short period to conclude that the EA is profitable. Monitoring its performance for longer, say 3+ months, is essential to determine if it can sustain the current outcomes or not.