Panda Night is a Forex robot that executes trades automatically for the user. It was published on 22 April 2021, and last updated on 17 May 2021. The current version is 1.2. As per vendor claims, the EA is capable of working well with numerous symbols because the correlation level of the symbols is low. Traders can use this bot with other EAs.
Panda Night is presented on the MQL5 website, a platform for algorithmic trading fans. Here, the developer describes how the system works, and provides links to its live trading results and backtest data.
The individual behind this EA is known as Jiang Ming Wang, a programmer based in ShenZhen, China. He claims that he has been a Forex trader since 2010. However, we could not verify if these assertions are true or not. He has not provided any credentials or any other useful information about himself. We also do not know if he has developed any other robots.
Features
The EA’s features are listed below:
- Is fully automated
- Works on the MT5 platform
- Trades with several currency pairs: EURUSD, AUDUSD, NZDUSD, EURCAD, EURGBP, AUDCAD, EURCHF, EURAUD, NZDCAD, AUDCHF, CHFJPY, NZDJPY, GBPNZD, and CADCHF
- Easy to set up and use
According to the vendor, the system searches for reversal signs especially during hours when the market is not strong and the risk of movements is low. This strategy explanation is vague. Therefore, we could not identify the indicators it focuses on.
How to Start Trading with Panda Night Robot
The EA is priced at $399. It does not offer any money-back guarantee. Once a trader purchases the product, they are required to send a screenshot of the same to the developer. The user will then get the technical support telegram link and the robot’s set file. According to the developer, Panda Night robot functions better in low-spread accounts, and he recommends TickMill or IC Market. The recommended broker is GMT 3.
Backtests
The EA traded on the AUDCAD currency pair within the 5-minute time frame. It operated between April 2015 and April 2021, and managed to execute a total of 1854 trades. Out of these, it attained win-rates of 91.10% for long trading positions and no wins for short ones. The average profit trade was 3.27 while the average loss trade was -3.76. The EA made a total net profit of $4,905.60 from an initial deposit of $1,000. The profit factor value was 8.90. The maximal drawdown was 1.81 which means losses from investment were small.
Unverified Trading Results of Panda Night
The developer decided to share trading results achieved by his Panda signals. These results are unreliable as they have not been verified by third-party sites like FXStat, FXBlue, or Myfxbook. Nevertheless, let’s analyze what we have.
The account’s initial deposit which is $1,000 has grown to $1,440.50. This means that the system could generate a profit of $440.50, which is equivalent to a growth of 44.05%. The maximum drawdown is 6.5%. The system has traded for 109 days, and makes 8 trades weekly. No withdrawals have been made yet.
The EA has executed 309 trades and the win rates for longs and shorts are 99.68% and 0.32% respectively. The profit factor is 2.33. The average loss (-5.53) is almost two times higher than the average profit (3.10). This is not good as the risk of making losses is heightened. The monthly growth is 3.60%.
The EA operates with relatively low drawdowns.
The account has traded mostly with the EURUSD (68 deals) and AUDUSD (40 deals) currency pairs.
The AUDUSD and EURCAD are the most profitable symbols, with 1400 pips each. CADCHF has not obtained any profits.
Customer Reviews
We found customer feedback on the MQL5 site where the EA is presented. The reviews are positive. Users state that the robot has generated profits for them and the support offered is good. A screenshot of the reviews is provided below:
However, we cannot rely on these testimonials. They might not be authentic. User reviews from third-party websites like Trustpilot, Forex Peace Army and myfxbook are more trustworthy.
Is Panda Night a viable option?
Advantages
- Is easy to use
- Customer support is offered
Disadvantages
- Live Trading results are unverified
- Inadequate vendor transparency
- Money-back guarantee is not provided
- Unclear strategy
Summary
Traders should not invest in this bot mainly because the live trading results are unverified. This makes it difficult to determine its real performance in the live market. Since the developer has failed to provide more information about himself, we cannot trust his words. The strategy is also vague. Therefore, a trader will experience difficulties understanding how the system works to generate profits for them.
