Luna is a night scalper that promises effective results. The expert advisor uses the mean-reverse method. As per the author, it has been created from many years of experience in live trading. Wim Schrynemakers of Profalgo Limited is the author of this FX robot. He is based in Malta and has more than 8 years of experience in developing FX EAs.
The author has 24 products and 32 signals to his credit. Other products the dev has developed include The Viper, Advanced Scalper, Reaper, Red Hawk, Night Owl, Grid King, and more. For contacting the developer, the direct messaging option on the MQL5 site is present.
Features
Some of the important features of the FX robot that make it competitive in the market are:
- The FX EA works on multiple currency pairs. GBPUSD, GBPAUD, GBPCAD, USDCAD, EURAUD, USDCHF, EURCAD, and AUDCAD are said to be the main pairs it is effective on.
- Secondary pairs that the ATS works on are: AUDUSD, AUDJPY, EURUSD, EURCHF, EURGBP, and GBPCHF.
- A news filter is present to prevent trading when there is high-impact news.
- All currency pairs can be run from a single chart.
- Rollover filters help filter pairs that have big slippage.
- Swap filters prevent trading during high swap-cost periods.
- A correlation filter prevents excessive exposure to a single currency pair.
As per the author, the FX robot uses a mean-reversion approach and the best pairs it works on have been chosen with care. He claims that it is built on existing technology to which plenty of smart features have been added. M5 time frame and the use of ECN broker are the main recommendations by the author. Unfortunately, there are no commendations on the minimum deposit, leverage, and other related details.
How to start trading with Luna
You can buy this ATS for $349. The author mentions that only one more copy is left at this price and that the final price is $999. For users who find the pricing expensive, rental options are present. They include a one-month rental costing $129, a 6 months rental costing $199, and an annual rental costing $249.
A free demo account is provided with the packages. We could not find further info on the features available with the package as the author does not provide the details. No refund offer is present which makes us suspicious about the reliability of the system. When compared to the market average, we find the pricing is exorbitant.
Backtests
Shown above is the strategy tester report for the FX EA present on the MQL5 site. The backtesting was done from 2020 to 2022 on all pairs. A total net profit of 5141553.39 was generated for a total of 7018 trades. Profitability of 92.73% and a profit factor of 3.36 were present. The maximum drawdown was 25%. From the results, it is clear that the profits are high and the drawdown is low indicating low risk, and an effective approach was used.
Verified trading results of Luna
A real USD account using the Pepperstone broker and the leverage of 1:500 on the MT4 platform is present for the FX EA on the Myfxbook site. Here are a couple of screenshots of the trading stats:
From the above info, we can see that a total profit of 13.49% has been generated with a daily profit of 0.32% and a monthly profit of 9.83%. For a total of 195 trades, the account that started in May 2022, has profitability of 84% and a profit factor of 1.30. The trading history shows a lot size of 0.01 is used. While the low drawdown shows a low-risk approach, the growth curve reveals several downturns indicating poor risk management. Comparing the results with backtests, the drawdown is lower in the real trading but the profits are higher in the backtests. But since the sample size is very small, the results are random. We need a larger sample to assess the true performance.
Customer reviews
We found a few reviews on the MQL5 site for the FX EA. Most of them are positive but we could not find feedback on reputed third-party sites such as Forexpeacearmy, Trustpilot, etc. to support the reviews.
Is Luna a viable option?
Advantages
- Fully automated EA
- Verified trading results
Disadvantages
- Small sample size
- Expensive pricing
- No money-back guarantee
Wrapping up
Luna claims to be an effective night scalping robot. The author provides backtesting results and real trading stats. After the detailed system analysis, we have found that the EA reveals poor risk management in real trading. The small sample size, expensive pricing, and absence of a refund offer are other drawbacks of the FX robot.
