In this review, we will take a look at a Forex expert advisor called YANS to mean ”Yet Another Night Scalper”. This name should be self-explanatory as to what this software does. It simply looks for trading opportunities when the New York session closes to pave way for the Asian session.
Generally, markets tend to be ranging at this time, thus presenting an opportunity for scalpers to collect profits on a consistent basis.
YANS EA was developed by someone called Timo Shroeter. There is very little information about them on the mql5 website or anywhere else on the internet. They can be reached through a Whatsapp trading community which they have formed to facilitate the business of selling expert advisors and talking to clients.
The owner of YANS expert advisor claims that this robot can be used on a $100 worth of trading account (even though the price for one license is $800). You literally break the bank just to get a copy of the YANS software.
Also, the developer claims that this software does not practice Martingale, Grid or Hedging style of trading when scalping the markets. Therefore, according to him, using the YANS EA to trade Forex during the aforementioned hours is the best way to make money.
The question is, does this software make money as claimed by the developer? What evidence are they presenting to enable us verify whether or not YANS EA is a performer?
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Well, we are going to answer those questions in an objective manner. We will consider facts as they are, ultimately issuing our judgement concerning the same.
The first thing we should admit is that there is very little information concerning the specifics of this software — Yet Another Night Scalper. Already the developer states that this software does not utilize Grid, Martingale or Hedging techniques to trade the markets. But those are just basics. They do not offer us any meaningful insights into what this software could be doing to make certain moves at the mentioned times of the day.
However, this is not to say that we are endorsing Yet Another Night Scalper EA. There are lots of things that need clarification before we can even consider mentioning this robot in a positive light.
Also, we see that the developer is saying that YANS can trade a small account of $100. At this point in time, we can’t help but wonder if this developer is really serious with selling this robot for $800.
You see, if they are selling it for that price, then it means that they are targeting high net-worth clients who have no problem bank-rolling their trading accounts to the tune of thousands of dollars.
You cannot say that you’re selling a trading tool for $800 and targeting people who only have $100 to spare for trading. That does not make sense at all.
YANS expert advisor also utilizes a 20 pip hard stop loss. According to this developer, the algorithm is so smart that it will always avoid hitting these stops on a regular basis.
But on the other hand, experience has taught us that such a tight stop loss is likely to be hit during market events or when trading conditions are not stable. In fact, this is one major reason why some clients have complained about the YANS software. We will be getting to this shortly.
The good thing is that traders can test this robot on a demo account for free. But for how long can this testing be permitted? We are not sure. However, we are certain that it can never go beyond a month.
The second option of using YANS expert advisor is when you rent it per month for the price of $60. Yes, this system is exorbitantly priced, which is why the developer is trying to make it affordable by giving everyone a chance to try it even if they don’t have a deep pocket yet.
The issue we have here is that a monthly subscription of $60 is still too high or beyond the reach of most struggling traders who go for expert advisors. Traders who can afford to pay that cost can hardly be numbered in their hundreds.
Secondly, it doesn’t make sense to go for such an expensive robot when good alternative robots go for $300 or less (plus there is no subscription cost).
It would be a foolhardy decision choosing such a robot when good alternatives are out there. You are actually spoiled for choices when you click this link with the intention of buying an expert advisor.
So, in as much as the price is set at $800, traders still have to make a rational decision by choosing what works best for them. For us, that price is a little bit on the steep side. We won’t give it a shot because we know of so many good EAs in the market that make money for a fraction of that cost.
The strategy tester report gives the impression that the YANS expert advisor is profitable. However, outside these reports, there are no external sources used to verify that indeed Yet Another Night Scalper is able to perform with extreme precision.
The system is exorbitantly priced. So we were expecting them to attach a link on their sales page that points back to their myfxbook results. This has never happened up to now. It makes us wonder if this robot is really worth the price tag.
Therefore, we could just say that the YANS expert advisor is not our type of trading tool. We would never recommend or even attempt to use it ourselves. In this day and era, if a developer does not verify their results using some third party tracking facility, then it would be better to look elsewhere instead of taking your chances based on what they’ve promised you.
We do not like to go in blind when it comes to trading with real money. And in this particular case, it feels blind.
There are currently 17 reviews for this software. There are a couple of 5 star and 1 star reviews here and there. We are not surprised that some guys are actually rating YANS EA with a 1 star.
You see, YANS EA has been accused for not having the ability to handle market events well. When news breaks, the software goes totally rogue on your trading account. It could end up blowing it even with all the stops put in place.
It looks like some of these clients who poorly rated it traded when the markets were not favorable. Not only did they get bad results, but they were also burned with fire.
Another man believes that YANS was not created to trade big accounts and that this software should only be synced with smaller accounts. If this statement is anything to go by, then we can fault the developer for not briefing us earlier.
We are not recommending Yet Another Night Scalper at this time. We’d love you to dedicate your investments to these trading solutions instead.
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