Waiting Night is a night scalping system that uses a combination of approaches to ensure successful trades with minimal losses. It is a fully automated MT4/MT5 tool that works on 12 currency pairs. As per the vendor, the FX robot does not use dangerous methods like Martingale, averaging orders, etc.
Marat Baiburin is the author of this FX EA. He is based in Russia and has one year of experience in creating FX trading tools. To contact the developer, a Skype link and an email address are present besides the messaging option on the MQL5 site.
Choosing the best FX robot requires analysis of various factors like performance, support, pricing, etc. To make your task easier, we have analyzed the FX robots in the market and come up with a list of the best products. Have a look at our best Forex robots list and choose a suitable system without difficulty.
Waiting Night offering
From our analysis of the professional advisor, here are the key features that the vendor focuses on:
- The FX EA works on 12 currency pairs: USDCAD, USDCHF, USDJPY, EURCAD, EURCHF, EURUSD, EURGBP, EURAUD, GBPUSD, CHFJPY, AUDCAD, and AUDUSD.
- Pending orders are used for reducing slippage.
- Inbuilt volatility filters are present that are optimized for every currency pair.
- No news filters are present in this FX EA.
- The orders are compliant with the FIFO rule.
- The number of transactions can be restricted with the help of fine risk settings.
- All transactions are closed within 3 hours to 5 hours.
Pricing
To buy this FX EA, you need to pay $199 which is a 50% discounted rate applicable to the first 10 copies of the product. As per the developer, the price will revert to its original rate of $399 after the first 10 copies are sold. The final price of the product will be $2000. A free demo is present for the product. The author does not provide info on the features available with the package. No money-back guarantee is present for the product which makes us suspect its reliability. When compared with the average price of similar EAs in the market, we find that the pricing is expensive.
How it works
As per the info provided by the author, this is a night scaling system that uses pending orders and short-duration transactions with accompanying SL and TP. A limit is fixed on every transaction’s lifetime.
Trading strategy
A combination of price action, a proprietary indicator, and special tracking positions are used by the FX robot for ensuring flexible configuration and a unique approach. The risk levels are adjustable and can be customized for a specific broker. Optimization is easy and completed in 5 settings points. A few backtesting results are present on the MQL5 site. Here is one of the backtests done for the GBPUSD pair using the M5 timeframe from 2003 to 2022:
From the above report, we can see that the initial deposit of $10,000 has generated a net profit of 11,201. A total of 3797 trades have been completed with a profitability of 77% and a profit factor of 2.58. The maximum drawdown for the account was 0.91%. From the results, it is clear that the drawdown is very low indicating a low-risk approach.
Trading results
The author provides a real live USD account started on January 23, 2022, with an initial deposit of $938.69. Here is a screenshot of the results:
From the above info, we can see that the account shows 33.43% growth and a profit of $295.87. The profitability is 80.8% for a total of 156 trades and the profit factor is 2.20. A drawdown of 4.5% is present. From the stats, we find that the profits are not high but the drawdown is low denoting a low-risk approach. The findings corroborate with the backtesting reports that also show a low drawdown.
Customer reviews
We found 12 reviews for the FX EA on the MQL5 site for the MT5 version with a rating of 5/5. But there is no users’ feedback for the product on reputed third-party sites like Forexpeacearmy, Trustpilot, etc. to back up the positive reviews. Since the MQL5 site promotes the product, the reviews may be manipulated.
