Forex Robots

Sodobe Scalper Review: Expensive EA Without Verified Trading Statistics

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Sodobe Scalper

Sodobe Scalper is a Forex expert advisor that was launched on August 4, 2021. The vendor has claimed that the system has been verified for 20 years and that it does not trade with too much risk.

Nguyen Van Cho, the developer behind this platform, is a resident of Vietnam. This person works as a manager at Sodobe. We have very little information on this company and the people working in it. There is not enough background information on the developer. Also, they have no other products on MQL5 other than Sodobe Scalper.

Sodobe Scalper strategies and tests

This is an EA that works best on XAU/USD (Gold) with optimized settings. It opens scalping trades on the M1 time frame only. The take profit value is fixed at 5 ATR and the stop loss at 8 ATR. The robot closes orders during overbought and oversold conditions to maintain a high win rate while keeping the drawdown low. On average, it holds a trade for 45 minutes.

Sodobe Scalper follows a scalping trading scheme that is based on statistical probability and Artificial Intelligence. According to the vendor, the strategy is verified by Big Data for more than 200 million records and 20 years’ worth of data on Gold. It uses indicators like Average True Range (ATR) and Moving Average (MA).

The vendor recommends using spreads less than 20. For this purpose, they have recommended brokers like IC Markets, LiteForex, and Exness. The leverage should be 1:100 and the minimum deposit $100. You can choose to enable Auto Lots based on account balance or trade with a fixed lot size for each order.

Backtesting result of XAU/USD

Backtesting result of XAU/USD

This backtest was conducted from January 2000 to September 2021 with 99.90% modeling quality. The EA started off with an initial deposit of $1000, placing a total of 1046 trades and generating a profit of $105277.97. It had a healthy win rate of 67.40% and a decent profit factor of 1.59. The relative drawdown for this backtest was quite high at 42.38%, which indicates a risky strategy. There were 16 maximum consecutive wins and 5 consecutive losses during the testing period.

Sodobe Scalper live trading account review

Growth chart of Sodobe Scalper

Growth chart of Sodobe Scalper

This live trading account on Myfxbook was launched on July 09, 2021. The vendor has not shared the verified results on the MQL5 product page, so we had to do some digging to find this account. To date, only 36 trades have been placed through this account and it has not been updated since December 16, 2021. The win rate of 64% is slightly less than what we saw in the backtest.

The daily and monthly gains for this account were 0.09% and 4.14%, respectively. The drawdown of 20.31%, while not as high as the backtest, is still higher than normal. Sodobe Scalper generated a total profit of $98.91.

Trading results of Sodobe Scalper

Trading results of Sodobe Scalper

From the trading history, we can see that the robot suffered consecutive and heavy losses when it traded with a larger lot size of 0.06-0.09. After reducing it to 0.01, it managed to generate profits. It did not hold its positions for more than a few hours. The average win and loss for this account were 207.65 pips/$13.59 and -231.54 pips/-$16.43, respectively.

Pricing

You can purchase this EA for the price of $590. Compared to other Forex trading systems, this is a bit expensive. There are 3-month and yearly rental options at $150 and $290, respectively. The vendor offers a free demo version for testing purposes, but there is no money-back guarantee.

Is Sodobe Scalper a good system to rely on?

Although the vendor claims that this is a low-risk system, the live statistics tell us otherwise. There is a lack of transparency and overpricing issues with this EA.

User reviews for Sodobe Scalper on MQL5

User reviews for Sodobe Scalper on MQL5

We couldn’t find any reviews for this EA on third-party websites. The reviews on MQL5 cannot be considered authentic.

Customer support

There is no contact information on the MQL5 website. However, the official website of Sodobe has an email address and a phone number. Alternatively, you can message the vendor on MQL5.

Sodobe Scalper

5

Sodobe Scalper is an overpriced EA with discontinued trading results. The vendor does not offer a refund and there is not much information on the parent company. Also, there are no reviews for this robot on third-party websites.

  • Money management feature
  • 20-year backtesting data
  • Large losses during live trading
  • No money-back guarantee
  • Lack of vendor transparency
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