Forex Robots

News Scope EA Pro Review: Trades With Low Drawdowns

0
News Scope EA Pro

News Scope EA Pro is an expert advisor that was published by FXAutomater. This is a quite known company on the Forex market. They have also developed other trading systems including BF Scalper EA, Omega Trend EA, Grid Master Pro, Gold Scalper Pro and many others. The devs claim that News Scope EA is “one of the most successful expert advisors.” Although it sounds good, we cannot trust them blindly. Therefore, we have prepared a detailed News Scope EA Pro review.

News Scope EA Pro strategies and tests

News Scope EA Pro settings

News Scope EA Pro settings

It’s time to figure out if the system has all required details and information explained to let us know what we have to expect from the system.

  • The system can work for us completely automatically.
  • The system has a trailing stop and backtick detection features.
  • We may work with it in a semi automatic mode.
  • It executes orders with low drawdowns.
  • The tick data was chosen from a 17 years period.
  • There’s a news detection filter.
  • We have a “NFP and FOMC only trading mode.”
  • We have email and push notifications applied.
  • The system can switch between trading a single order at a time and a Grid of orders.
  • The advisor can work on the M1 time frame.
  • There are five pairs to work with EURUSD, GBPUSD, AUDUSD, USDCAD, and USDJPY.
  • We can rely on provided details files.
  • It uses money-management in trading.
News Scope EA Pro settings

News Scope EA Pro settings

  • As usual, the system is delivered with the full list of settings.
News Scope EA Pro backtest settings

News Scope EA Pro backtest settings

  • Now, we know how to test the system properly.
News Scope EA Pro backtest

News Scope EA Pro backtest

There’s a EURUSD report that was tested based on data from the 2015-2020 period. The time frame was M1. The modeling quality was 99.90% with variable spreads. The initial deposit was $5,000. The total net profit amounted to $8,929. The profit factor was 4.54. The system executed 213 deals with a win rate of 72%.

News Scope EA Pro demo trading account review

The developers decided not to risk their funds. So, they have deployed a demo account to show that the system works well. Alas, it’s not quite right.

News Scope EA Pro trading results

News Scope EA Pro trading results

The system has been running a real USD account on the Alpari broker. The leverage wasn’t mentioned. The account has a verified track record. It was created on January 28, 2021, and deposited at $3,000. The absolute gain has become 14.27%. An average monthly gain is 1.45%, while the peak drawdown was 8.22%.

News Scope EA Pro details

News Scope EA Pro details

We have 118 orders closed by the system with 313.1 pips. An average win is 11.03 pips when an average loss is only 7.28 pips. The accuracy is 52% for longs and 55% for shorts. An average trade length is one minute. The profit factor is 1.63.

News Scope EA Pro traded pairs

News Scope EA Pro traded pairs

We have five mentioned cross pairs traded. USDJPY is ahead in trading with 28 orders closed. Most of the profits were gained on EURUSD.

News Scope EA Pro hourly activities

News Scope EA Pro hourly activities

The only one hour to trade actively is 3 p.m – opening of the Asian session.

News Scope EA Pro daily activities

News Scope EA Pro daily activities

It focuses on trading two days a week: Wednesday and Friday. It’s not typical. Usually, the most traded days for EAs are Tuesday and Thursday.

News Scope EA Pro closed orders

News Scope EA Pro closed orders

The advisor has lost many orders in a row. It’s dangerous.

News Scope EA Pro monthly activities

News Scope EA Pro monthly activities

The last two months were closed with losses. The advisor is going to lose November 2021 as well.

Pricing

News Scope EA Pro pricing details

News Scope EA Pro pricing details

We have a price of $97 discounted. The devs claimed that the original price was $147. The advisor has the next features in the pack: one real account, only three demo accounts, and the best possible support. The pack includes a 60-day refund policy.

Is News Scope EA Pro a scam?

Now, it’s not, but at the same time is not a sure bet. The system must be updated ASAP to run an account stable on the market.

People feedback

We have no testimonials written about this system. It makes it difficult to understand how it works on the real clients’ accounts.

News Scope EA Pro

4

News Scope EA Pro is an expert advisor that works on a demo account with five pairs. The name of the well-known company behind it doesn’t help it to work stable and predictable. The system is not an option right now.

  • Backtest reports provided
  • Trading results shown
  • A refund policy supported
  • No risk advice given
  • The system doesn’t work stable under current market conditions
  • It should be updated
  • No people testimonials written

How Does the Stochastic Indicator Work in FX Trading?

Previous article

Eurozone Construction Expands for First Time in Four Months

Next article

You may also like

Comments

Leave a Reply

More in Forex Robots