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In this review, we will focus on a trading robot that looks for opportunities in the first couple of hours after the close of the New York session. SFE Night Scalper is the name of this trading robot.
The SFE Night Scalper only looks for trade opportunities when the markets are quiet. The developer claims that this robot is simply interested in small quick wins.
Therefore, it’s our job to analyze this robot and see whether or not it will live up to its promises. We are also going to predict what this robot can do to a live account.
The SFE Night Scalper is owned by someone called Joel Juanpere. The company that is in charge of manufacturing this robot is called Smart Forex Expert. Their office is located in France — on this address #7128396, c/o OwO, BP80157, Roubaix Cedex 1.
Sending them a message on MQL5 website is the only way to communicate with them.
This developer has created other trading products as well. These include SFE Price channel and SFE Fire and Forget SI.
While the former only costs $30, the latter costs $1200. We are wondering why such a huge difference in pricing.
Anyway, if you are a trader whose personality gravitates towards scalping systems that trade for only a couple of hours a day, then this system might catch your attention because of its trade logic.
On the other hand, if you hate scalping systems because of one reason or the other, then this trading system may put you off.
The SFE Night Scalper works with various Forex pairs, and is meant to utilize tiny deviations that happen in the market during the mentioned hours.
This robot basically looks for deviations in the market to place trades. And when those deviations occur, the robot will enter a position and try to close that trade during the stagnation hours. However, if that fails to happen, the EA will try to look to exist during the next favorable market conditions just before the onset of the European session.
According to the vendor, the SFE Night Scalper is proficient in trading the M15, M30 and M1 time frames. It trades various pairs too. These include EURCAD, GBPUSD, USDCHF, AUDCAD and EURJPY.
However, there is one thing that everyone will notice with this robot. The price tag is so big that it is more than enough to put off some traders. At USD1500, this robot becomes one of the most expensive expert advisors on the internet.
You see, we have to mention it again. There is no need to spend over $1000 to buy a robot when viable investment tools can be obtained for slightly over $200. We do not see ourselves spending 1k on a Forex expert advisor when we can spend $200 and still get quality service from that particular product.
Other benefits that apparently come with the SFE Night Scalper include light weight CPU usage, meaning that it only runs at the first tick of a new bar.
Besides, the developer assures us that this robot is FIFO compliant. That is to say that it does not employ Martingale, Grid or Hedging strategies of trading.
It is the culture of vendors who sell at the MQL5 marketplace to rely on back tested results rather than working with live data in a Myfxbook or a FXBlue account.
The trading results that we have been provided with here are overwhelming to say the least. The system was back tested on 5 pairs, and results for each one of those pairs have been presented on the homepage of the SFE Night Scalper for our scrutiny.
According to these trading results, the software was profitable in the beginning of the year 2015 all the way to October the same year.
But first, we are not a fun of back testing. They put us off for the obvious reasons. Back tested results cannot be used to predict the potential performance of the software in the future.
Secondly, these back tests are somehow outdated. We don’t think that back tests dating back to 2015 are really useful in 2017.
We would have considered back tests for 2016 a godsend at the very least. But since these results have not been shown to us, we can comfortably say that the only reason why this developer did not provide us with those results is that this software only performed well in 2015.
It is safe to assume that the SFE Night Scalper has not been able to reach that level of success ever again. After all, who in their right minds would dare show this poor performance to the world and still expect people to pay $1500 for the product?
As it stands now, we are hoping that this developer will serve us with more recent results in the future because if they fail to do so, then they may end up leaving money on the table because they didn’t convince us of their product’s potential to make money.
No review can be complete without first considering what real users are saying about that particular product.
So far, there have been 7 reviews. Some of those reviews have been positive. But before then, complaints could be seen here and there. These complaints are honestly hard to ignore.
While perusing those reviews, one particular comment caught our attention. In that comment, a user was complaining that SFE Night Scalper is suffering right now. It needs an update.
Otherwise, the feedback that this software is getting is not bad. But it is not great either.
Besides, it appears that only a couple of people have used this night scalping software, considering that there are only a handful of user reviews out there.
While it’s true that this developer has been doing this business for quite a while now, it still remains that their products are overpriced.
Traders generally want cheaper, more efficient trading robots that can also be trusted with any account balance.
Secondly, we do not like the fact that this vendor is not verifying their trading performance on myfxbook or fxblue for that matter.
You see, these platforms offer an opportunity for product vendors in this niche to prove that their products really perform as advertised on the main website. They are basically third party entities that give us a transparent view of how that particular product would perform if you made a purchase.
The strategy of the SFE Night Scalper is not that bad. In fact, we could say that this is sound trading logic by all standards. However, the price of this software is a huge turn off.
It is worth noting that this trading system can be tested on a demo account for free. However, we feel that there are some limitations to this feature, which is why the vendor is offering a monthly and yearly payment options. But these are not cheap either.
Also, before we can dive in and trust them with $1500, we’d like to see their verified myfxbook statements. This is the only way to be sure whether a product works. Don’t rely on back-tested results only.
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