Blazing Night Scalper is a Forex expert advisor that was launched on 1st October 2021. It is sold exclusively on the MQL5 website. This EA can trade in multiple pairs and is compatible with multiple brokers. However, the main criterion for a profitable system is a successful live trading history, and we must analyze the performance before forming an objective opinion about the system.
Is Investing in Blazing Night Scalper a good decision?
To determine the reliability of this system, we have looked into various factors like features, trading strategy, website presentation, vendor transparency, price, live performance, and customer reviews. In multiple instances, this robot has disappointed us with what it has to offer. As such, we don’t think you should consider investing in it.
Company profile
Since we don’t have an official website for this EA, the MQL5 marketplace is the only source of information. Here, the vendor has shared links for the live monitoring account, the backtesting results, the public Telegram group, and more. There is a video showing traders how to load the EA on trading charts. The vendor has shared broker recommendations and explained in brief how the trading strategy works. Here, we should mention that there is not enough information on the features. Overall, the presentation is not very professional.
The developer behind this EA is Scott Fredeman, who is based in the United States. He has an official website where you can find the complete list of EA, videos, and backtesting results. There is no background information on this person and we don’t know anything about the people he works with. Other experts from this developer include Midnight Blitz, Aggressive Grid Sniper, and EA Monster Multiple Strategies.
Main features
This is an EA that works exclusively on the M5 timeframe. It is compatible with brokers like Oanda, Tickmill, Pepperstone, Vantage, and ICMarkets. While using the EA for the first time, you need to load it on an M5 chart. Also, you need to set the “Use Multi Symbol” setting to True and change the SL Ded Rate Pips from 0 to 1. You can use the system to trade in pairs like AUDCAD, CHFJPY, EURAUD, EURCAD, EURUSD, GBPAUD, GBPUSD, USDCHF, USDCAD, and USDJPY.
Blazing Night Scalper is a scalping system that works with low spread. It searches for the lowest spread during the night hours and locates entry points based on recent highs and lows. Instead of using indicators, it uses its own logic for calculating the entry. The vendor has not clearly explained what this logic is.
This EA uses a stop loss and a take profit with each trade without using grid or martingale. It has a stop loss reduction system that can make the system exit a trade early.
Price
The current price of this EA is $249. For a newly-launched system, it is not very cheap. There is a 1-month rental option for this EA that costs $90. Also, you can download a demo version of the robot for virtual money trading. Unfortunately, the vendor does not offer a money-back guarantee.
Trading results
There are no verified trading accounts for Blazing Night Scalper on websites like Myfxbook, FXBlue, and FXStat. The vendor has shared the link to a live account on MQL5 having a trading history of 43 days. It is not possible to determine the profitability of a robot in just 43 days.
Out of 213 trades placed during this time period, the robot has won 195. This means it has a win rate of 91.54%. The maximum drawdown for this account is 8.6% while the profit factor is 2.18. To date, the EA has generated a profit of $64.71 through this account.
This backtest was conducted from 2009 to 2021 with AutoLots activated. The robot conducted 21025 trades during this time period, winning 90.4% of them and generating a total profit of 34798.1 pips. The monthly and yearly average profits were $243038.56 and $2916498.77, respectively. Compared to the live statistics, the win rate is slightly lower.
Customer reviews
It is obvious that this EA lacks reputation since there are no user reviews on third-party websites. We cannot trust the reviews posted on MQL5, since the vendor could have manipulated them.
Summing up
Blazing Night Scalper is a system that is sold by a vendor with zero reputation. We don’t have the verified trading statistics for this robot, which makes it unreliable. As such, you shouldn’t waste money on this expert advisor.
