Night Shot EA

The Night Shot EA Forex robot for MetaTrader 4 employs a scalping strategy to identify good short-term trade opportunities in both rising and falling currency markets. This forex trading bot, according to the programmer, performs best on the USD/CHF, EUR/CHF, and EUR/AUD pairs (you can try on other pairs as well).

In this article, I will be taking a look at how the Night Shot EA works. Hopefully, that will help you to decide if this is a trading robot that you would consider using on your trading account.

Scalping with Night Shot EA

Scalping is a popular trading strategy in the forex market that involves making multiple trades throughout the day to capture small price movements. The goal of scalping is to make a high number of profitable trades while minimizing the risk of losses.

To implement a scalping strategy, traders typically use short-term timeframes, such as one-minute or five-minute charts, to identify small price movements in currency pairs. The strategy involves entering and exiting trades quickly, often within a matter of seconds or minutes, to capture small profits.

Scalping can be based on a variety of techniques and indicators, including technical analysis, chart patterns, and price action. Scalping can be a high-risk trading strategy due to the high frequency of trades and the potential for small losses to accumulate quickly. However, scalping can also be a profitable strategy for traders who are disciplined and skilled at executing trades quickly and accurately. The Night Shot EA saves traders the stress of doing the bulk work manually.

Some benefits of scalping include:

  1. High potential for profits: Scalping allows traders to capture small price movements in currency pairs, which can add up to significant profits over time.
  2. Quick execution: Scalping involves entering and exiting trades quickly, which can allow traders to take advantage of short-term price movements before they disappear.
  3. Lower risk exposure: Because scalping involves making many small trades, the risk of loss on any individual trade is typically low.
  4. Reduced overnight risk: Scalping involves closing all trades at the end of each day, which can help traders avoid the overnight risk associated with holding positions overnight.

Some of the risks associated with scalping include:

  1. Spread and slippage risk: The spread is the difference between the bid and ask price of a currency pair, and slippage occurs when the price at which a trade is executed differs from the expected price. Scalping involves making many trades, and each trade is subject to spread and slippage risk, which can reduce profits and increase losses.
  2. High trading costs: Because scalping involves making many trades, the trading costs associated with each trade can add up quickly. Traders may need to pay commissions, spreads, and other fees, which can reduce profits.
  3. Market volatility risk: Scalping requires traders to enter and exit trades quickly, which can be challenging during periods of high market volatility. Unexpected news events or economic data releases can cause sharp price movements that can result in losses for scalpers.
Night Shot EA
Night Shot EA

Night Shot EA Specifications and Recommendations

  • Works on any currency pair.
  • Works on metatrader 4 terminal.
  • Can be used on demo accounts.
  • Can be used on real accounts.
  • Works on any timeframe.
  • Minimum account balance of $150.

Night Shot EA Parameters and Settings

By going to the EA’s “Inputs” tab, you can change the following input parameter values:

  • Maximum spread
  • Maximum slippage
  • Trading settings
  • Lots
  • Use risk
  • Maximum risk
  • Stop loss
  • Take profit

Conclusion

Overall, forex scalping is a high-risk, high-reward trading strategy that requires a lot of discipline and skill. Night Shot EA employs this trading technique to automatically execute trades for traders. Traders may want to ensure that they are comfortable with this trading style before proceeding to get the Night Shot EA and apply it on their trading accounts.

Free Forex Robot