Panda Night is a trading advisor that works with various currency pairs. It was released not so far ago as for a professional advisor – on April 22, 2021. The system was updated several times until a 1.2 version on May 17, 2022. There are six purchases and 268 downloads.
Is this robot a viable option?
We are not sure about it. So, the system is quite young to be convinced that it would work stable and be profitable for the rest of the year. The system works with some cross pairs that have high spreads.
How to start trading with Panda Night
The system has various settings, details, and explanations.
- Panda Night knows how to work fully automatically for us. We have to do nothing in addition.
- “The system looks for signs of reversal, in hours when the market is not strong, and the risk of high movements is low.”
- The advisor can handle trading various cross pairs at once.
- The system trades only on the short time frames.
- It means there shouldn’t be high margin requirements.
- “The correlation of the different symbols is generally very low, giving to the system a very high diversification, which reduces the overall risk.”
- The system is easy to install on the terminal. It will take several minutes, not more.
- The robot can be customized if we have a proper trading experience.
- After completing purchasing, we have to get approval to receive a Telegram link plus the robot’s set files.
- “If the names of the symbols aren’t common in your broker platform, update the names in the Symbol List parameter.” It’s hard to understand what they meant.
- The system can be used with other advisors or our manual trading at the same account.
- The system requires low spreads accounts to work well and be profitable.
- The offered brokers are IC Markets and TickMill.
- We work personally through IC Markets.
- So, the raw spread accounts are the only way.
- The best brokers are those that work with the next GMT offset – +3.
The advisor cost $199. Now, the price doubled without any significant reason. We have no subscription options provided. The system is delivered without a refund policy. It’s a common case for robots published on MQL5. There’s a demo download option. So, we can execute backtests and check settings on the terminal.
Panda Night Backtests
We have a backtest report published for all cross pairs that can be used by the system. Trading results showed that there were months with some losses. It’s not quite professional as for the system that costs almost $400. The rate between wins and losses is 6.3. The system provided $39,970 of gross profit when the gross loss was almost five times less -$8,975. The largest win was $89.28.
The highest profit factor varied from 2.56 to 7.48. The median one is approximately 3.5. AUDUSD was the most frequently traded symbol – 1338 orders. EURCHF was the most profitable cross pair – $760.72.
Trading Results
The developer has a real account on IC Markets, where the system runs automatically with 1:500 leverage on MT5. The total growth is 44.30%. The maximum drawdown is 6.5%. The accuracy rate is 80.6%. The trading activity is impossibly low – 4.6%. The system has been trading on the account for 27 weeks. The MQL5 robot marked the signals as five-starred.
An average trade frequency is nine trades weekly and an average trade length is 53 minutes. No one subscribed for these signals. The account was created on April 22, 2021.
The system can’t provide stable monthly profits. They were going through ups and downs.
The drawdowns are incredibly low.
The robot works with fixed lot sizes. It seems that it doesn’t even have a Grid of orders.
Panda Night has closed 315 orders. The best trade is $20.64 when the worst trade is 1.5 times deeper -$30.35. An average trade frequency is 9 deals a week. An average trade length is 53 minutes. The recovery factor is 5.29. The profit factor is 2.33. An average profit is $3.06 when an average loss -$5.47. The average monthly growth is 3.48%. The annual forecast is approximately 43.33%.
The advisor can work only on the buy direction.
AUDUSD (1400 pips) and EURCAD (1400 pips) are the most profitable pairs.
Other Notes
Jiang Ming Wang is a developer from China that has a low rate – 522. He has a 3.7 rate based on 13 reviews. The profile includes 42 friends.
The developer has opened two more accounts, setting their number at four.
People Feedback
The presentation includes various comments, including negative ones where people couldn’t handle being profitable with the system.
Wrapping up
Advantages
- Verified real-account trading results
Disadvantages
- No risk or money management advice given
- The system doesn’t trade a Sell direction
- The robot is a quite young trading solution
- No one subscribed for the signals from his account
- The system became twice expensive without any reason
Summary
Panda Night is a scalper that trades during Australian and Asian sessions. The system can work okay only in the buy direction. Alas, the system is too young to be sure that it handles trading many cross pairs at once. The developers didn’t provide us with information on why the system became twice expensive, even without a refund policy. We are sure that it’s not the best option for this money.
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