News Catcher Pro EA Review – A Powerful News Trading Robot
The News Catcher Pro EA is an expert advisor designed to trade the volatility around high-impact news events in the forex market. Developed by expert MQL coder Valeriia Mishchenko, this robot aims to capitalize on the predictable price patterns that often emerge around major economic data releases and news announcements.
In this detailed review, we will analyze how the News Catcher Pro EA works, its features and settings, backtest results, real account trading performance, as well as pros and cons to determine if this is a recommended forex robot worth buying.
How The News Catcher Pro EA Works
The core trading logic behind the News Catcher Pro EA centers around mean reversion strategies. It enters trades at calculated times just before scheduled high-impact news events, aiming to profit from the subsequent volatility and reversion to fair value.
As an intraday scalper, it does not hold trades for extended periods. Instead, the robot seeks to capture movements lasting from a few minutes to an hour or so, depending on user settings.
The developer claims that through extensive backtesting, they have identified certain seasonal patterns around news events across major currency pairs. By optimizing entry times and incorporating intelligent trade management features, the EA is able to regularly extract profits from the expected market reactions.
To function properly, News Catcher Pro needs a steady economic news calendar along with a reliable connection to fetch updated schedules. The robot has an in-built news filter that references Forex Factory data through their API. Users can also choose to disable this feature and just trade the pre-configured event list.
Key Features & Tools
The News Catcher Pro EA comes packed with features aimed at maximizing trading accuracy and efficiency during volatile news trading. Let’s take a look at some of the most notable capabilities:
- Advanced News Filter – automatically filters upcoming events to only trade medium/high impact news based on volatility expectations. References Forex Factory calendar.
- Multiple Pairs Support – allows trading GBPUSD, EURUSD and EURGBP from a single chart. No need to attach to multiple charts.
- Self-Diagnostic System – checks internally for errors, connection issues or abnormal conditions to prevent trading blindly.
- Auto GMT Detection – automatically detects broker server time to coordinate scheduled session times properly.
- Stealth Mode – option to hide stop loss levels from the broker for reduced chance of triggering.
- FIFO Compliant – suitable for FIFO rule brokers, no issues with hedging restrictions.
In terms of trading parameters, News Catcher Pro provides abundant flexibility:
- Trade Direction – allows long only, short only, or both long & short trades.
- Lot Sizing – supports fixed, dynamic or percentage risk based position size calculation.
- Maximum Spread – configurable spread filter to avoid slippage during illiquid periods.
- Session Schedule – fully customizable trading sessions with multiple events per day possible.
Integrating these capabilities allows the News Catcher Pro EA to implement an intricate yet effective approach to trading high impact news.
Backtest Results & Optimizations
Extensive backtesting forms a key part of developing any properly constructed automated trading system. When reviewing the News Catcher Pro EA results, it is clear that the developer has put in this prerequisite work.
The first set of backtests cover the period of 2020-2021 across the three supported pairs. A mix of conservative variable settings were used to gauge real-world performance potential:
GBPUSD GBPUSD backtest results
EURUSD EURUSD backtest results
EURGBP EURGBP backtest results
The metrics showcase the potential, with double digit yearly returns achieved on all pairs, max drawdowns within 10% range and solid consistency year to year.
In terms of further optimizations, the developer recommends using the following parameter set for best results:
- Timeframe – M5
- Pairs – GBPUSD, EURUSD, EURGBP
- GMT Offset – broker server time
- Sessions – default London & NY schedules
- Stealth Mode – enabled
- Spread Filter – 7-10 pips max
- Dynamic Lot Sizing – balance % formula
Applying these settings and focusing on the London/NY overlaps could likely boost performance even higher.
As expected, such a news trading approach works better with ample liquidity and fast execution. Hence using a top ECN broker is also advised for best outcomes, which helps minimize slippage spikes.
Real Account Trading Stats
Seeing how an EA performs in live market conditions is key before committing your capital. When analyzing available News Catcher Pro results, the numbers continue to impress.
The MyFXBook account below tracks the latest 2021-2022 period. Despite challenging trading environments, it has delivered:
- 125% return trading 3 pairs conservatively
- Max drawdown under 9% showcasing risk controls working
- Over 1400% accumulated profit factor signaling high short term efficiency
News Catcher Pro real account results
The live stats match the backtests, confirming the positive expectations. With the ability to capture moves around events like GDP, NFP, interest rate decisions etc., such returns are indeed viable.
Analyzing the detailed trade log reveals solid wins mixed with small losses for resilient growth over time. The developer seems to have formulated an advantageous strategy here.
Using News Catcher Pro EA – Tips
If you decide to purchase this news trading EA, here are some tips to get the most out of it:
- Use a true ECN forex broker for best execution and spreads
- Run on a VPS with good uptimes to avoid misses
- Start with minimal risk to evaluate performance
- Optimize settings for your account after initial testing
- Focus trading on London & NY sessions for sufficient volatility
- Maintain funding to capture larger moves when they happen
The key is giving the News Catch Pro EA optimal conditions to maximize its probability of capitalizing on news events.
News Catcher Pro EA Pros & Cons
- Innovative logic to tap into news volatility
- Abundant customization features
- Impressive backtest and live results
- Active development & updates
- Reasonable pricing
- Needs fast broker & VPS for best experience
- Intraday scalping style may not suit all
- Developer track record still establishing
News Catcher Pro EA Verdict
News trading remains one of the most profitable forex strategies in the right hands. Automating the process requires significant research and rigor to repeatedly pinpoint reliable opportunities among evolving markets.
In the case of the News Catcher Pro EA, creator Valeriia Mishchenko seems to have crafted an exemplary set of algorithms to tackle this challenge.
The metrics clearly showcase the potential, with stellar backtests supported by actual account results holding up nicely. The feature set also provides traders full control over the experience.
However, as with all EAs focusing on short term volatility, slippage and spreads can massively impact outcomes so selecting the right broker is mandatory. This may limit viability for some.
Overall though, for the relatively reasonable investment, News Catcher Pro is definitely worth testing out. The built-in stealth mode, risk controls and diagnostic tools give adequate downside protection. If you trade or follow the economic calendar, the profits attainable make it very appealing.