Panda Night is an expert advisor that was downloaded five times, and demo downloaded 282 times from MQL5. It was released not so far ago, on April 22, 2021. The last update was issued on May 17, 2022.
The system can be purchased only at a single price – $399. It was doubled several weeks ago from $199. There are no subscription options. We can download a system for demo usage, but without setting files which are provided apart, it’s good for nothing.
Panda Night trading strategy
- The system acts as a past Midnight scalper.
- It works with 13 cross pairs.
- It executes orders on low time frames.
Panda Night features
Let’s talk about a list of features, settings, and other details:
- Panda Night works on the charts completely automatically for us. No extra effort is needed.
- “The system looks for signs of reversal, in hours when the market is not strong, and the risk of high movements is low.”
- It works with various cross pairs at once.
- The margin requirements should be low.
- “The correlation of the different symbols is generally very low, giving to the system a very high diversification, which reduces the overall risk.”
- We can install the advisor without problems.
- We can customize the system if we want.
- The developer will provide us with a settings file link after approval.
- “If the names of the symbols aren’t common in your broker platform, update the names in the Symbol List parameter.”
- A few traders can do it themselves.
- We can trade manually on the same account and use other advisors.
- We should use the robot on a low-spread account.
- IC Markets and TickMill are suggested brokers.
- We have to work with the robot on a raw spread account.
- “The best brokers are those that work with the GMT offset +3.”
Panda Night backtesting results
The presentation includes a backtest of all cross pairs. We may note that the robot has lost three months. It’s a huge con. The win/loss ratio was 6.3. The system has managed to trade $39,970 of gross profit. The gross loss was -$8,975.
The system worked with various success rates that varied from 2.5 of the profit factor to up to 7.4. The highest net profit was EURCHF, $4504.
Panda Night trading results
The system runs a real $1000 account on IC Markets automatically with 1:500 leverage on MT5. The total growth is 45.62%. The maximum drawdown is 6.5%. The accuracy rate is 79.9%. The trading activity is lower than on the similar trading solutions, 4.6%. The system has been working on the account for 29 weeks. The signals have five stars.
An average trade frequency is only six trades a week. An average trade length is 53 minutes. The account was deployed on April 22, 2021.
We may note that the system’s profitability varies from $15.89 to $1.66 monthly.
The drawdowns are low. That’s a good result.
The advisor opens a single trade at once. It seems that risks were decreased, or the system used the various lot sizes for different pairs or market conditions.
Panda Night has traded 334 orders. The best trade is $20.64 when the worst trade is much bigger -$30.35. An average trade frequency is 6 deals a week. An average trade length is 53 minutes. The recovery factor is 5.45. The profit factor is 2.31. An average profit is $3.01 when an average loss -$5.20. The average monthly growth is 2.10%. The annual forecast is approximately 25.44%.
The advisor opens trades only in the buy direction.
EURCAD ($95) and AUDUSD ($91) are the most profitable currency pairs.
Panda Night reputation
Jiang Ming Wang is a developer from China. He has only a 527 rate. His products have a 4 rate based on 17 testimonials. There are five subscribers for signals.
The comments vary much from ultra negative to positive. It looks like the traders couldn’t be profitable with it.
Panda Night review summary
- Strategy – score (7/10)
- Functionality & Features – score (4/10)
- Trading Results – score (5/10)
- Reliability – score (5/10)
- Pricing – score (3/10)
Conclusion
Panda Night is a night scalper that makes little and quite often not predictable profits. The system is too young to say something for sure about if it’s a viable option. The developer doubled pricing, but he’s afraid of investing more money in real account trading.
