Introduction
In today’s Night Hunter Pro Review blog post, I want to discuss the Night Hunter Pro Expert Advisor, which has gained significant popularity on the MQL5 Marketplace. As someone who actively trades with various Expert Advisors, I’m considering adding this EA to my portfolio. Join me as I delve into the reasons behind my interest in the Night Hunter Pro and explore its unique features and positive reviews.
Night Hunter Pro Review: Diversifying My EA Portfolio
As followers of my channel know, I trade with many Expert Advisors on my live account. The main reason behind this approach is to diversify my portfolio and incorporate different trading systems. Considering the Night Hunter Pro, I am particularly drawn to its distinction from Grid and Martingale systems. This Expert Advisor was developed by Valeria Michenko, who has previously created the Waka Waka and Golden Pickaxe EAs, both of which I have reviewed. I believe that adding a scalping strategy without Martingale elements will enhance the diversification of my portfolio.
Impressive Features and Compatibility
The Night Hunter Pro offers a range of notable features that caught my attention. Firstly, it supports multiple currency pairs, including GBPUSD, EURCHF, and CHF, among others. The recommended time frame for optimal performance is M5. Additionally, this EA is suitable for FTMO, which means I can potentially use it for Prop Firm challenges—an exciting prospect for expanding my trading opportunities. Moreover, the Night Hunter Pro is FIFO compatible, making it accessible to American traders who understand the significance of this feature.
Night Hunter Pro Review: Positive Reviews and Developer Engagement
A significant factor in my decision to consider the Night Hunter Pro is the abundance of positive reviews it has received. With 70 reviews and counting, this EA has garnered attention and generated a buzz among traders. Furthermore, the developer, Valeria Michenko, actively responds to some of the reviews, which demonstrates her commitment to user satisfaction and addressing any concerns or inquiries.
Navigating Negative Reviews
While the Night Hunter Pro boasts predominantly positive feedback, there are a few negative reviews worth noting. For instance, one user mentions the high price in relation to a losing trade. It’s important to keep in mind that losses are an inherent part of trading, even with expensive Expert Advisors. Evaluating the overall performance and considering the long-term results is crucial in assessing the effectiveness of any trading system.
Night Hunter Pro Review: Overview of Live Performance
In this section of the Night Hunter Pro review, we will delve into the live performance of this Expert Advisor. By examining the total profit percentages and annual returns, we can gain valuable insights into its potential.
Impressive Profit Percentages
Looking at the live performance of the Night Hunter Pro, we can see that the total profit stands at an impressive 216%. Breaking it down by year, we observe a 7.39% profit in the current year, 17% in 2022, 106% in 2021, and 20% in 2020. While the recent numbers show a decline, it is possible that the developer has adjusted the risk settings to mitigate potential losses. Nonetheless, a 17% profit for the previous year is satisfactory.
Night Hunter Pro Review: Balanced Approach with Minimal Drawdowns
A notable feature of the Night Hunter Pro is its balanced approach to trading. Moreover, the absence of a Martingale system means that losses are not masked or amplified through risky strategies. This is reflected in the balance and equity, which show no significant drawdowns. The EA’s risk management approach ensures a controlled and stable trading experience.
Verified Track Record on MyFXBook
To gain further confidence in the Night Hunter Pro, let’s examine its verified track record on MyFXBook. The main account started with an initial deposit of $285 and has since grown to a balance of $443. By reviewing the performance chart, we can see that the highest balance was achieved recently, around 10 days ago. This suggests that the EA has the potential to generate consistent profits.
Night Hunter Pro Review: Key Statistics and Profitability Analysis
When analyzing the track record, it is essential to consider key statistics. The Night Hunter Pro has accumulated a total of 1470 pips, indicating its ability to identify profitable trading opportunities. Additionally, the profit factor stands at a remarkable 187, which is calculated by dividing all profits by all losses. With a profit factor above 1, the Night Hunter Pro demonstrates a profitable trading strategy.
Profitability Analysis by Month
Examining the profitability by month provides valuable insights into the Night Hunter Pro’s performance history. In 2023, the EA achieved an average monthly return ranging from 1.5% to 2%. In 2022, there were three losing months, namely September and December, which resulted in approximately -3% losses. However, 2021 stands out as the most profitable year on the MQL5 platform, with no losing months reported.
Night Hunter Pro Review: Multiple Verified Live Trading Accounts
To further validate the Night Hunter Pro’s performance, we can explore the various verified live trading accounts associated with the developer, Valeria. By visiting her profile, we can observe a total of nine accounts utilizing the Night Hunter Pro EA. These accounts may employ different settings, but it is crucial to ensure consistency if you decide to trade with this Expert Advisor.
Backtesting on MetaTrader 5
By backtesting, we can evaluate the EA’s performance using historical data and assess its potential profitability. Follow along as we guide you through the process step by step.
Accessing the Night Hunter Pro EA
Open MetaTrader 5. Navigate to the market section and search for Night Hunter Pro. Once you locate it, click on the demo version in the description to proceed
Night Hunter Pro Review: Setting Up the Backtest
The recommended time frame for Night Hunter Pro is M5. To begin the backtest, open a new chart window for EURUSD on the M5 time frame. Drag and drop the Night Hunter Pro EA onto the chart to reveal all the input settings.
Customizing Inputs and Settings
You will notice various input options, including the choice between fixed or dynamic lots, maximum risk per trade, maximum spread for market orders, and maximum drawdown protection. Additionally, there are time settings, strategy settings (including the option to hide stop loss and take profit), and news filters. These settings allow for customization and flexibility based on your preferences and risk tolerance.
Night Hunter Pro Review: Running the Backtest
Proceed to the testing section in MetaTrader 5 and select EURUSD for the M5 time frame. Choose the desired testing period, either from the beginning of the year or a specific range. Ensure that “Open prices only” is changed to “Every tick” for more accurate backtesting results. Click on the start button to initiate the backtest.
Analyzing the Results
During the backtest, you will observe the equity curve and drawdowns on the graph. Night Hunter Pro’s non-martingale system attributes the absence of significant drawdowns. The stable performance observed in the backtest aligns with the results shown on MyFXBook.
Night Hunter Pro Review: Free Trial and Live Testing
Now that you have seen the backtest results, you may be interested in trying Night Hunter Pro yourself. Luckily, Valeria offers a free 15-day trial on her website. Visit the website and download the EA to explore its performance on a demo or live account.
Choosing a Reliable Broker for Algorithmic Trading
When using Night Hunter Pro or any other EA, it is crucial to select a reliable broker, especially for algorithmic trading. Consider using an ECN (Electronic Communication Network) account, as it provides low spreads and minimal slippage during rollover times. ECN accounts offered by some brokers are ideal for executing scalping strategies effectively.
Night Hunter Pro Review: Conclusion: Backtest, Test, and Evaluate
In conclusion, Night Hunter Pro offers a promising scalping strategy that can be backtested on MetaTrader 5 to evaluate its performance. By following the steps outlined in this review, you can gain insights into the EA’s potential profitability. Additionally, take advantage of the free 15-day trial offered by Valeria to test Night Hunter Pro on a demo or live account. Remember to choose a regulated broker with an ECN account to ensure optimal trading conditions. Take the opportunity to explore Night Hunter Pro and make informed decisions based on your backtest and trial: