Forex Nightfox
Overview
| EA Name | Homepage | Pair | Timeframe | Takeprofit | Stoploss | ECN | 5-Digits | Comments |
|---|---|---|---|---|---|---|---|---|
| Forex Nightfox | Click Here! | EURGBP | M15 | dynamic | 40 | yes | automatic |
Forward Test (Demo)
Status: stopped (moved to LIVE-Trading)
Last update: 2010 January 21, 09:01 (GMT)
| EA Name | Statement | Weekly Net P/L [Pips] | Weekly Profit | Weekly Trades | Winning Trades | Max/Min [Pips] | Closed P/L [Pips] | Open P/L [Pips] | Total Profit | Max. DD [%] | Weeks in Test |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Forex Nightfox | Statement | -2 | -1% | 7 | 82% | 6 / -40 | -17 | 0 | -6% | 22% | 10 |
Backtest
| EA Name | Statement | Period | Pair | Closed P/L [Pips] | Open P/L [Pips] | Trades | Winning Trades | Max/Min [Pips] | Max. DD [%] | Comment |
|---|---|---|---|---|---|---|---|---|---|---|
| Forex Nightfox | Statement | 2008 | EURGBP | 1864 | -7 | 649 | 97% | 10 / -40 | 20% | |
| Forex Nightfox | Statement | 2007 | EURGBP | 402 | 0 | 256 | 98% | 7 / -40 | 24% | |
| Forex Nightfox | Statement | 2006 | EURGBP | 4991 | 0 | 1101 | 100% | 8 / 0 | 0% | |
Homepage / Vendor
Forex Nightfox is a product of Ted Pearson. The homepage mainly contains test results. There are complete backtests for a 10 year period and there is a forwardtest-statement published as well. All statements are completed and seems to be valid.
Here an extract from the homepage what Ted writes about himself:
My name is Ted Pearson. I live in the Caribbean and make my living out of trading the Forex market. But it wasn’t always like this…
8 years ago, I was a computer software engineer who discovered the amazing world of Forex trading.
I was tired of working the long hours that are common in the “high-tech” industry. I was also sick and tired of constantly having to please my bosses and participate in a never-ending “rat race”.
No wonder that the idea of making a living by trading from the comfort of my home really excited me and captured my imagination.
Delivery
As owner of Forex Nightfox you get:
- the Forex Nighfox Expert Advisor
- a 43 page PDF installation guide
Installation / License
Forex Nighfox is delivered with an automatic installer program which makes the installation idiot proof. There is no account restriction in Forex Nightfox.
How does it work ?
Forex Nightfox trades during the Asian Session. It opens new trades based on RSI and Moving Average. To exit trades a fixed SL and some internal takeprofit logic is used.
Settings / Money Management / Broker Requirements
The settings of Forex Nightfox are mainly related to money management. By default Nightfox uses an internal moneymanagement which is leverage based and uses an advanced concept to take bigger risk if it’s in the winning zone. If we use a leverage of 20 on a 1k account the EA starts trading with 0.2 lots. For a 40 pips sl this means a risk of about $120 (depending on the EURUSD price) which is 12%. As a scalper on the EURGBP this robot is dependent on low spread (<= 4 pips) but it has a spread monitoring system built in. The trading logic automatically adapts to 4- and 5-digit pricequotes and supports ECN style brokers which require market execution as well.
Conclusion
Using a low spread broker Forex Nightfox shows great results in backtest for the last couple of years. To scalp EURGBP during the asian session is not a new idea but this robot seems to deliver a robust solution for this approach.