Sodobe Scalper is a very new Forex solution. It was introduced to the market on August 4, 2021. It is said to work best on the XAUUSD pair on the 1 minute-timeframe. We are also informed that the effectiveness of its strategy has been tested and verified for 20 years. Let’s find out more about the robot’s features.
This system was developed by Nguyen Van Cho. He is a manager at Sodobe, a technological company that provides a variety of services and products including Forex indicators, EAs, server hosting, and web design, among others. Even so, Cho’s credentials have not been shared. We don’t even know how long he has been operating in the Forex market.
The highlights of Sodobe Scalper
Here are some of the features the developer thinks set the Sodobe Scalper robot apart in the market:
Very low risk
The vendor assures traders that this system trades safely and maintains low drawdown levels. It also applies different SL levels to minimize losses.
Trustworthy backtest results
The backtest data is said to be authentic. Cho swears that the results are not manipulated, and therefore, traders can trust them.
The EA can supposedly attain 5-20% monthly profits. A take-profit is particularly incorporated to optimize the gains made.
We cannot fully trust the vendor. The robot is not as safe as purported. We have ascertained that it trades dangerously. So, it is incapable of keeping the drawdown low and generating any reasonable gains.
Trading strategy of Sodobe Scalper
As the name implies, this EA uses the scalping strategy. This means that it focuses on placing trades within short time frames with the goal of making profits from small price fluctuations.
This report shows us that the EA was backtested from January 2000 to September 2021. All this while, it executed 1046 trades, generating a total net profit of $105,277.97 from a deposit of $1,000. However, the profit factor (1.59) was average. The relative drawdown of 42.38% was high and hence bothersome. It tells us that the strategy used by the EA carried some substantial risks. The short and long trading positions performed poorly. Their success rates were below 70%.
Trading results in real time
This account was opened just recently, August 25, 2021. We are concerned about the ineffectiveness of the system. It seems to be making bad trades most of the time. This is why it has a negative gain (-5.52%). The account has already lost -$158 of the deposit. The drawdown (26.05%) is not good. It is indicative of a risky strategy in action.
The trades carried out to date are 14. The win rates for long (50%) and short positions (50%) are very poor and even lower compared to the ones reported in the backtest statement. The same can be said about the profit factor (0.69).
It is clear as day that this account is on the verge of collapse. It will not survive for long.
The EA traded on short time profits while applying large lot sizes and trailing stop losses. No wonder it made huge losses.
The system lost all the short trades it made.
No profits have been made yet. Instead, we have a loss of -5.52% for September.
Sodobe Scalper price
Sodobe Scalper is being sold at $490 on mql5. Two renting options are also available. So, you can hire the bot for 3 months at $90 or at $270 for a whole year. The lack of a money-back guarantee and the system’s high losing streak makes it not worth this money.
There is a comments section that customers can use to ask the vendor anything about the product. Sadly, this is the only customer support option offered. There’s no email, live chat, or phone number that can be used to contact the vendor.
Are traders happy with Sodobe Scalper?
Only two traders are happy with the product. They say that the EA is good and produces stable profits and a low drawdown. However, we do not agree with these sentiments. You have seen for yourself how badly the system trades.
Sodobe ScalperSodobe Scalper
Customer testimonials2/5 Bad
- Live trading results are available on Myfxbook.com
- Backtest report is provided
- High risk of ruin
- Low rate of return
- No money-back guarantee