Waiting Night is a night scalping system that uses an innovative approach. The robot uses price action, a proprietary indicator, and a unique position tracking mechanism for generating high returns with minimal risk. According to the developer, this is a professional advisor that works on 12 currency pairs.
Detailed Forex robot review
Marat Baiburin is the developer of this FX EA. He is based in Russia and has one year of experience in creating Forex products. Marat has two products and 9 signals to his credit. You can contact the author via Skype, through the MQL5 user link, or via the email address provided under his MQL5 profile.
Some of the key features of this FX robot are:
- It works on 12 currency pairs namely USDCAD, USDCHF, USDJPY, EURCAD, EURCHF, EURUSD, EURGBP, EURAUD, GBPUSD, CHFJPY, AUDCAD, and AUDUSD.
- The FX robot does not use dangerous methods like the Martingale, or averaging orders
- Transactions are kept open for 3 to 5 hours only.
- An integrated volatility filter is present that is optimized for every compatible pair.
- No news filters are present for the EA.
- Fine risk settings help to reduce the number of orders.
- The FX EA is FIFO compliant.
- All transactions have an SL and TP, and there is a limit present on the transaction’s lifetime.
Waiting Night strategy tests
As per the vendor, you can make changes in the software as per your specific preference. The parameters are easy to understand and apply. The robot can be optimized in just 5 settings.
The developer provides a few backtesting reports for the FX EA on the MQL5 site. One of the reports is shown above. From the report, we can see the backtest was done on the GBPUSD pair from 2003 to 2021 using the M5 timeframe. A total profit of 11201.30 was generated for an initial deposit of 10000. For a total of 3797 trades, the profitability was 77.03% and the profit factor was 2.58. The maximum drawdown for the account was 0.91%. From the low drawdown and high profit factor, it is clear that the system uses a low-risk approach.
Real live account trading results
A real live USD account is present for the FX Robot on the MQL5 site. Here is a screenshot of the trading stats:
From the above info, we find that the system shows 30.81% growth since it started in January 2022. A total of 161 trades have been completed with profitability of 75.15% and a profit factor of 2.40. The drawdown is 3.4% and indicates a low-risk approach. For a deposit of $100, the system has generated $58.77 in 18 weeks of trading. While the risk is low, the profits are not very high. Further, the sample size is small making it difficult to predict future performance.
To buy this FX EA, you need to pay $199. The original price of the product is $399 which is now sold at a 50% discount for the first 10 copies, after which the price will revert to $399. As per the author, the final price is $2000. A free demo account is present. There are no details on the features available with the package. No money-back guarantee is present for the product which makes us doubt the reliability of the product. When compared to the price of competitor products in the market, we find the discounted price of this FX robot is not expensive.
Although there are 12 positive reviews for the MT5 and 11 testimonials for the MT4 version, we cannot rely on them, as the site promotes the product there is a high chance of the reviews being manipulated. We could not find any customer review on 3rd party websites like Forexpeacearmy, Trustpilot, etc., that could back up that the product does work well for traders.
Waiting Night uses an innovative form of night scalping that uses a combination of approaches to ensure high returns. Backtests and live trading results are present for the FX EA. From the reports, we find that the drawdown used is low indicating a low-risk approach. However, there are a few downsides that you need to consider before you decide on using this system.
The profits are not high indicating a below-average performance. Other drawbacks of this FX EA are the small sample size, the lack of a money-back guarantee, and the expensive pricing (after the discounted package expires).