Sodobe Scalper is a Forex expert advisor that uses the scalping method for ensuring profitability. As per the developer, the solution provided by this ATS has been verified for two decades. It is a low-risk system that has not yet fired an account as per the author. This FX EA is designed mainly for the XAUUSD pair. 

Nguyen Van Cho is the developer of this ATS. He is based in Vietnam and has developed one product and two signals. A website link is provided for contacting the developer. You can also use the messaging board on the MQL5 site to resolve your queries and concerns.

Sodobe Scalper: characteristics

Features of Sodobe Scalper.

According to the developer, Nguyen Van Cho, this scalping robot has the following crucial features that make it gain a competitive edge:

  • This ATS uses default settings for the XAUUSD pair which is the main currency pair it works on.
  • A timeframe of M1 is recommended by the author.
  • It can work on the MT4 or MT5 platform.
  • A fixed TP of 5ATR and an SL of 8 ATR are used with an auto-close option to achieve a high winning rate and low drawdown.
  • The average holding duration is 45 minutes per trade.
  • This FX EA uses statistical probability and Artificial Intelligence that is authenticated using Big Data consisting of over 300 million records and gold data of 20 years.

Currency pairs, strategy & timeframe

Recommendations for Sodobe Scalper.

We could not find an explanation for the approach used by this FX EA.  The lack of info makes us suspect the reliability of this MT4 tool. Recommendations for using the system include the use of a spread that is less than 20 and the use of IC Markets, LiteForex, and Exness brokers. 

The leverage of 1:100 and a minimum deposit of $100 are recommended for this ATS. A deposit of less than $100 can increase the risk, as per the developer. A table of default settings that the developer recommends is provided here:

Default settings for Sodobe Scalper.

Sodobe Scalper trading performance

Backtesting report of Sodobe Scalper.

A few backtests are present for this FX Robot. One of the tests is shown above. From the result, we can see the backtest was done from 2010 up to 2021. For an initial deposit of $100, the account had generated a net profit of $369.43. A total of 794 trades were executed with profitability of 67.88% and a profit factor of 1.49. The maximum drawdown for the account was 11.50%. From the results, we can see the performance is poor.  

The developer provides a live signal for this FX EA on the MQL5 site. Here is a screenshot of the trading stats:

Backtesting report of Sodobe Scalper.

From the above trading info, we can see a growth percentage of 18.47% for the real USD account that began in July 2021. A total of 27 trading days have been completed with a profit of $98.91 for an initial deposit of $772.58. 

A maximum drawdown of 20.3% is present, which is high and indicates a risky approach. Further, profitability is 63.9% and the profit factor is 1.46. Comparing the backtesting results with the real trading we find the profitability and profit factor are similar and profits are low indicating poor performance.

How much does it cost?

Pricing of Sodobe Scalper.

You can purchase this FX Robot for $590. A rental package is present that includes a 3-month package that costs $150 and an annual rental costing $290. Other than the mention of a free demo, we could not find further info on the features available with the package. There is no money-back assurance which indicates the unreliability of the system. When compared to the price of other similar scalpers in the market, we find the price of this EA is too expensive and not worth it.

Reviews from customers

We could not find user reviews for this FX EA on reputed sites like Forexpeacearmy, Trustpilot, etc. The absence of feedback shows the product is not popular among traders. 

Should You Use Sodobe Scalper Robot?

On evaluating the various aspects of this trading tool, we find that it is not a trustworthy system to rely on for your trading. Here are the main pros and cons we identified in this FX robot.

ProsCons
A fully automated systemThe strategy is not explained
Uses statistical probability and AI with big data for better reachLive results show poor performance
Price is expensive

Conclusion

Sodobe Scalper assures a high winning rate and low drawdown. Our analysis of the trading tool reveals shortcomings that prevent it from being a reliable system. The lack of strategy explanation, poor performance in live results, and the expensive price are major drawbacks in the system. Further, the product does not come with a refund offer which confirms our evaluation that this is an unreliable system.