Panda Night Review: Does It Win or Lose?

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Panda Night

Panda Night is an expert advisor that works with the Forex markets. The presentation is short and lacks information about the robot’s settings and features. We have decided to analyze the system to figure out if it can be used for stable performance. 

What is Panda Night?

The presentation includes some details about how the system executes and what parameters we have to take into account to work well. 

  • We can expect that the robot helps us with placing and closing orders on the market automatically. 
  • It seeks for reversal signs when the market is calm and risks of sharp movements are the lowest. 
  • We can work with different cross pairs. 
  • It doesn’t require much margin from us to start working. 
  • Working with various pairs under various market conditions allows the system to be stable in the performance. 
  • We can get the system installed within several minutes. 
  • The system can be customized by us. 
  • It was customized properly by a developer. 
  • We have to update the list of the symbols including the ones that aren’t supported by a broker – we have to update the list. 
  • It looks complicated for people who aren’t familiar with Forex. 
  • Manual trading is possible on this account either. 
  • The account has to work with low spreads. 
  • We can use it on the IC Markets and TickMill brokers. 
  • We personally work with IC Markets. 
  • The best brokers should have GMT Offset +3. 

Official Panda Night website

The product presentation on MQL5 looks simple and doesn’t provide all the necessary details about the robot. The developer of Panda Night is Jiang Ming Wang. He is a programmer at Shen Zhen. He has an 810 rate and no MQL5 experience. So, he has no prior experience in the industry. That being said we cannot be fully convinced in the efficacy, reliability and productivity of the systems he developed.

The developer’s profile
The developer’s profile

How can we use Panda Night?

  • We can use this robot for automatic orders execution.
  • It can place orders on the proper entry points. 
  • The money management system can provide us with placing SL and TP levels. 

Pricing & refund

Panda Night pricing on MQL5
Panda Night pricing on MQL5

The system can be bought for $199. The owner decided to decrease the price from $399. So, the subscription options are gone either. We can grab a demo copy to check it out on our terminal. 

Trading strategy

  • The advisor scalps profits at night. 
  • We don’t know what symbol we have to work with. 
  • We do not know the timeframe the system trades on. 
Panda Night backtest report
Panda Night backtest report

There’s a report that was received after testing all cross pairs on the past data, delivered by a broker. Testing showed that the robot has lost three months within 2015-2016. The win rate was 6.3. The gross profit has amounted to $39,970. The largest win was $89.28. An average win was $3.29 when an average loss was -$4.06. 

Panda Night backtest trading details
Panda Night backtest trading details

The robot was tested on ten pairs at once. We may note that the profit factor varied from 8.81 for EURCHF to 2.56 for AUDUSD. 

Trading results

Panda Night trading results on MQL5
Panda Night trading results on MQL5

The advisor works on a real IC Markets account with 1:500 leverage. It was deposited at $1000. The maximum drawdown is 13.1%. The maximum deposit load is 9.1%. The accuracy is 72.4%. The total growth is 35.95%. 

Panda Night growth chart
Panda Night growth chart

It didn’t show a predictable performance in 2021.

Panda Night trading details
Panda Night trading details

The advisor doesn’t use a Grid of orders and Martingale strategies. 

Panda Night trading details
Panda Night trading details

Panda Night has executed 772 deals. The best trade is +$20.64 when the worst trade is -$32.19. The recovery factor is 1.79 when the profit factor is 1.38. An average monthly loss is -7.82%. 

What are the real customers saying about Panda Night?

People testimonials on MQL5
People testimonials on MQL5

People have provided many negative testimonials about the system. We aren’t surprised at all. 

Summary: is Panda Night a trustworthy EA?

Panda Night
2.2 5 0 1
Panda Night is an expert advisor that works automatically on the MT4 or MT5 terminal. The system closed the previous year with losses. We don’t know if the developer minds about updating the robot.
Panda Night is an expert advisor that works automatically on the MT4 or MT5 terminal. The system closed the previous year with losses. We don’t know if the developer minds about updating the robot.
2.2 rating
2.2/5
Total Score
  • Strategy
    3.0 rating
    3/5 Neutral
  • Features
    2.0 rating
    2/5 Bad
  • Trading Results
    2.0 rating
    2/5 Bad
  • Reliability
    2.0 rating
    2/5 Bad
  • Pricing
    2.0 rating
    2/5 Bad

Like

  • Backtest reports provided
  • Trading results shown

Dislike

  • No risk advice given
  • No money management advice provided
  • The advisor doesn’t perform orders on the market stable and predictable
  • No rental options available
  • Several negative reviews written
Total
0
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