Sodobe Scalper is an expert advisor designed to work mainly on the XAUUSD pair. This FX EA uses statistical probability and artificial intelligence for the execution of trades. As per the developer Nguyen Van Cho, the approach has been verified using Big Data for over 300 million records and gold data of 20 years. The developer assures low risk with this approach and claims that it is a no scam account that has never blown. Nguyen Van Cho is based in Vietnam and has one product and 3 signals to his credit. He is the manager at Sodobe. To contact the developer, you can use the messaging option on the MQL5 site or use the website link provided under his profile.
Features
From the info provided by the developer, this scalping system works on the M1 timeframe and uses a fixed TP of 2 ATR and an SL of 8 ATR. It has automated close in the case of an overbuy or oversell condition, which helps it get a high return and a low drawdown. The system uses a holding time of 45 minutes for trade on an average. As per the developer, the default settings are for the XAUUSD pair.
There is no explanation present of the strategy except that it is provided by the top 5% of the global professional traders and verified for 20 years. We find the lack of explanation suspicious.
How to start trading with Sodobe Scalper
This FX EA costs $590. There are rental options present that include a one-year rental costing $290 and a 3-months rental costing $150. A free demo account is provided with the package. When compared to similar scalping systems in the market, we find the price is exorbitant. Further, there is no money-back guarantee. The absence of a refund offer indicates this is not a reliable EA.
Recommendations for this FX robot include the use of a spread of 20 or lower, brokers like IC Markets, LiteForex, and Exness, and the leverage of 1:100. A minimum deposit of $100 and automated lots is recommended for using this EA. The recommended default settings for the system are shown below:
Backtests
Backtesting reports are present for this FX robot. Here is one of the strategy tester reports shown on the MQL5 site.
From the above report, we can see the backtesting was conducted using 99.9% modeling quality on the XAUUSD pair from 2020 to 2021 using fixed lots of 0.01 size. For an initial deposit of $100, the account had generated a net profit of 124.98. The profitability was 70.42% and the profit factor was 1.96. For a total of 142 trades, the maximum drawdown for the account was 8.49%. While the drawdown is low, the profits are not high.
Trading results of Sodobe Scalper
The MQL5 site has a live signal for this MT4 tool. A real USD account using Exness broker that started on July 12, 2021, is shown here.
From the above trading stats, we can see the account reveals 22.10% growth. A starting deposit of $772.58 has resulted in a profit of 102.41. The maximum drawdown for this account is 20.3% and profitability is 65.7%. A profit factor value of 1.49 is present.
From the results, we can see that the profits are low. As per the MQL5 site, 80% of the growth was achieved in a single day which makes the approach risky. Comparing the backtesting report with real trading results we find the values are less than average in the real trading denoting a risky and ineffective approach.
Customer reviews
We could not find user reviews for this FX EA on reputed review sites like Forexpeacearmy, Trustpilot, etc. The absence of feedback shows the system is not popular.
Is Sodobe Scalper a viable option?
From our evaluation of the various characteristics of this FX robot, we find it is not a reliable product. Here are the main advantages and disadvantages of this automated system.
Advantages
- Fully automated software
- Money management feature
Disadvantages
- The strategy explanation is not provided.
- Live trading shows poor performance
- No money-back guaranteed
Conclusion
Sodobe Scalper is an MT4 tool promising low risk and high returns. Our assessment of the features, recommendations, trading method, and other characteristics reveals many shortcomings. For starters, the strategy explanation is not provided. While the developer provides backtesting and real trading reports we find the results are not satisfactory. The poor performance in the backtesting and real trading indicates the approach is risky and ineffective. Another major downside of the system is the lack of a money-back guarantee. With so many drawbacks, we do not recommend this EA.
