In this post I will be reviewing the Evening Scalper Pro EA which is an automated forex scalping system developed to run in the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. The Evening Scalper Pro expert advisor has a built-in trading algorithm that can constantly scan the forex market for trading signals. When the software detects a trade opportunity according to the strategy, it can enter a position, manage it and eventually exit the market. Whilst this might make it an attractive proposition for anyone who is looking for a hands-off approach to trading the forex market, there are some important pros and cons to be aware of which I will cover in this Evening Scalper Pro Review.
This is another forex robot form Valeriia Mishchenko. She has a collection of forex EA’s which you can get from her own website “Valery Trading” and the MQL website. You can also find them from the marketplace within the MetaTrader platforms. I have reviewed some of her other forex robots including the News Catcher Pro EA, Waka Waka EA, Night Hunter Pro EA and the Golden Pickaxe EA.
Evening Scalper Pro EA Trading Strategy
The Evening Scalper Pro EA utilises a mean-reversion trading system that operates during the USA trading session. It’s different from most other scalping systems, since it uses a unique trading logic and has a higher than average take profit target. The EA does not use any potentially dangerous martingale money management or grid trading strategies. It only enters a trade with market orders and uses a stop loss for each trade.
This expert advisor uses a number of techniques to identify what it deems to be the most accurate points of entry and exit in the forex market on currency crosses that have a strong mean-reverting tendency.
Mean reversion is a financial theory which suggests that, after an extreme price move, asset prices tend to return back to normal or average levels. Prices routinely oscillate around the mean or average price but tend to return to that same average price over and over.
Mean reversion strategies attempt to capture profits as the price of an asset returns to more normal levels, or the average. Traders who partake in mean reversion trading have developed many methods for capitalising on the theory. In all cases, they are betting that an extreme level — whether it be volatility, price, growth, or a technical indicator — will return to the average.
You will find that the developer has made all of the most important settings available as external inputs so you are free to experiment with them as you wish. You could of course just use the Evening Scalper Pro robot with the default settings but you will at the very least need to ensure the lot or risk size is set to a suitable level according to your own risk preferences because every trader is different in that respect. I particularly like how there are dozens of different risk management configurations, which makes the EA versatile for all types of trading style.
The Evening Scalper Pro EA enters the market with market orders from 19 to 23h, it does not open trades during rollover (0:00-1:00). In terms of a trade duration it’s classical scalping: in and out of the trade within a few hours at the most. For this reason, I think it would require a broker with very tight spreads, low commission fees and very rapid trade execution speeds. IC Markets would be my top choice as they have deep liuqidity pools so that trades can get executed at some of the best prices on the forex market at all times. I cannot emphasise just how important the broker conditions are when using a forex scalping strategy. I have seen the exact same scalping systems give completely different results across different brokers, simply due to the trading account conditions of each.
You could in theory use this forex robot on any trading instrument and chart timeframe that you wish. I would personally be looking at major currency pairs such as the EUR/USD when scalping, simply because they tend to have some of the lowest spreads which as mentioned, is very important when trying to scalp just a few pips from the market. That being said, the developer recommends the following:
Supported currency pairs: EUR/NZD, EUR/AUD, AUD/NZD, NZD/CAD, AUD/CAD, EUR/GBP, GBP/AUD, GBP/CAD
Recommended timeframe: 5-minute Charts
Evening Scalper Pro EA Features
- Fully automated forex scalping robot developed for the MetaTrader platform
- The EA is designed and optimized to try and achieve stable results in the long run, rather than making quick profits
- There are features to help try and reduce possible drawdown with dozens of different risk management configurations
- Can be used on any forex broker but as with any forex scalping EA, requires a broker with low spreads and commission fees along with reliable execution
- Constant updates are being released to keep up with the latest technologies in the trading area as well as the behaviours of the global financial markets
- Personal support from the developer, available 7 days a week for anything you might need, including remote configuration via AnyDesk
- Exclusive Telegram Group community, filled with hundreds of active expert traders and Night Hunter Pro users
Evening Scalper Pro EA Back Testing
I am impressed by the Evening Scalper Pro expert advisor back tests for a few reasons. Mainly, the developer has used 99% modelling quality which means the EA has been tested with real tick data, whilst they have also used real variable spreads. However, it is not clear if they have accounted for the broker commission fee which could have a huge impact on the results of any forex scalping EA. I would like to see back tests with commission included, just as the Forex Robotron EA has done. None the less, we have a few years of data across multiple currency pairs to get a rough idea of how the Evening Scalper Pro EA has been trading. Of course, historical performance is by no means a reflection of what will happen moving forward.
Evening Scalper Pro EA Results
In addition to back tests, the developer has kindly published and shared a verified Myfxbook account where you can see the latest Evening Scalper Pro results. Granted, it has not been running that long and things have been slightly bumpy along the way. You can refer to the graph below and click it to get more detailed statistics on how the EA has been trading in the current market conditions. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
Evening Scalper Pro EA Summary
Overall, I feel that there is some potential with the Evening Scalper Pro EA, especially considering the innovative trading strategy that it uses. I like the fact we have quality back tests and a verified account to refer to whilst the developer is always on hand to offer support and frequently trying to improve their various trading software.
However, I do feel like the Evening Scalper Pro robot is very broker dependant. I think that it will require the ideal broker conditions in order to perform to the best of its capabilities. Furthermore, with so many external input settings available, you would probably want to take some time out to experiment with the various settings on demo accounts to see which work best according to your own trading style.
The Evening Scalper Pro EA includes instructions, full support, updates, access to the Telegram channel and a money back guarantee. This is not the cheapest EA that you will find but there is also a free Evening Scalper Pro demo version which allows you to test the robot before making any commitment. You can get it from the Valery Trading website, MQL website and from directly within the MetaTrader platforms via the marketplace.
Evening Scalper Pro EA
$1170
Pros
- MetaTrader 4 & MetaTrader 5
- Fully Automated Scalping Robot
- Customisable Settings
- Unique Mean Reversion Strategy
- Verified Results
- Back Tests
- Detailed Instructions
- Dedicated Support
- Free Updates
- Money Back Guarantee
Cons
- Requires Ideal Conditions
- Broker Sensitive
- Requires Low Commissions
- Requires Low Spreads
- Requires Minimal Slippage
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
