A scalper EA that's not limited to the Asian session, opening positions around the clock with a fairly profitable outcome, a few indicators which are shipped with Metatrader are involved in a creative way, so the entry signals are determined. It has retry loops for opening/closing orders, denoting a certain degree of experience with automated live trading. Although the DLL programming is sometimes an obstacle for EAs running on multiple pairs with the same DLL, in this EA it seems to be entirely thread safe.
Fully Compatible with no Hedging Problems.
One Real and Unlimited Demo Accounts + FREE MetaTrader5 Version + FREE Bonus Wall Street Asia EA + FREE Bonus Wall Street Recovery PRO EA (Lifetime Membership).
FREE Lifetime Updates + Professional 24/7 Client Support via Email.
All MT4 & MT5 Brokers are Compatible including ECN. All Accounts are Compatible including MICRO, Mini, and Standard Types. Operates with 4 and 5 Decimal Digits.
We recommend Installing WallStreet Forex Robot 2.0 Evolution on Commercial Network Services Forex VPS and using it with Tickmill, Alpari or IC markets Forex brokers for the best stability and profitability.
An Easy to Follow Detailed User Guide with Instructions to Setup, Activate, Configure, Live Use & Backtest the EA is Included. Setting Recommendations are Included in the Official Website's Members Area.
60 Day Money Back is Guaranteed by the EA Vendor.
Supports MT5 Trading Terminal.
The EA is Added to the Metatrader Terminal via An Easy Automatic Installer in a few Button Clicks.
What came into my mind at the first glance after reading the name of this EA was something like "oh naivety, what an uninspired name, Wall Street is not a Forex market". I thought it was another Asian session scalper or even just a copy of an existing original EA, but when I tried to inspect the opening times of the positions, lo and behold, I noticed that it wasn't restricted to the Asian session, and trades were being opened in the forward tests throughout the day! there are really very few 24/5 scalpers nowadays and this have given me a high feeling of suspicion and mistrust and tended to think it's kind of a scam. A lot of EA providers were discovered to fake statement results, and to cut removes all doubt, I decided to try to ask for a Wall Street Forex Robot copy, that request has been granted with a very quick email response.
Being writing about it here now is a clear indication that I do not consider it a scam in any way, It's really original scalper where trading several pairs around the clock and it seems to manage scraping a nice profit off it. The pairs officially recommended are EURUSD and GBPUSD, it also supports USDJPY, USDCHF, USDCAD, NZDUSD and AUDUSD. Like most of other scalpers nowadays, it runs on the M15 timeframe, so there's nothing new about this.
The third is the backtests area with six 14 Year backtests set and other six 1999 - 2014 backtests set which are performed using a large lot on a low starting balance, resulting in some rather large drawdowns, despite the steep ascending balance curve.
Then the fourth area that contains some explanatory text revealing the most important trading principles the EA, and finally there are the package details and a link to buy the EA. In addition to those 5 main areas, there are also frequently asked questions area.
Anyway, if you came here, I ask you to disregard the website and proceed with the review. An ugly website is no reason to dismiss a good product, it's just a matter of taste and may some people actually like this marketing style. An important notice which I was to forget is mentioned on the website, it's that the EA is already available for MetaTrader5 and buying the MT4 version will give an access to the MT5 version too, both are available for download in the members' area.
We run the two officially recommended pairs EURUSD and GBPUSD on both history center data and 99% quality dukascopy tick data, history center data backtests has run with a spread of 2, while tick data backtests has run with a spread of 2 and a real spread of 0.7.
All the backtests has run using the default settings with AutoMM set to 3. An additional Tick data backtest for each pair was performed using FixedLots of 0.1.
All the backtests have run on a Tickmill ECN Pro Demo account with the help of Tick Data Suite, an ECN broker has lower spreads which will affect the EA performance positively, while a fixed spread broker, the spreads could be higher, so it's advised not to use Wall Street Forex Robot in that case as it'd not be a good idea.
In general, GBPUSD was more profitable than EURUSD which was also working well, constantly ascending balance chart curve.
Here is a merged analysis of EURUSD and GBPUSD on the previous fixed spread (2 pips) backtest reports of the currencies using QuantAnalyzer v4.10.5 to for further data analysis and wider overview on the EA performance:
The total monthly profit is $51.21 using a starting balance of $1,000, while the combined maximal relative drawdown is 4.87%, that was the the target as a maximum by setting AutoMM at 3. Many trades - over a third of them - are closed within one hour while most of the trades - over 80% of them - do not last over 5 hours. Anyhow, the longer a trade is, the lower the chance of ending up with a return from it. The average profit factor is 1.47, while the winning trades accounted for 78.64% of the total, with an average win / loss ratio of 3.68. A quick Monte Carlo Simulation Chart with 100 simulations is also available.
USDJPY, USDCHF, USDCAD, NZDUSD and AUDUSD are supported in the latest versions of WallStreet Forex Robot while EURUSD and GBPUSD are still the only 2 officially recommended pairs, in addition to a whole new setting for EURUSD with a tight 33 pip StopLoss (EUR33) and GBP30, GBP52 and GBP52T (Turbo Settings) for GBPUSD. So that, this have to be re-investigated by creating new backtests for these new capabilities.
At the start only tick data backtests were run using the 99% quality Dukascopy tick data with fixed spread using risk of both 2 and 3, in addition to FixedLots of 0.1 backtests, all are presented down here.
This mode runs with EURUSD with a fixed low StopLoss of 33 which provides more safety but as a result the trading frequency is decreased too, it's better to use it with recovery mode enabled.
This mode runs with GBPUSD with a fixed low StopLoss of 30 which provides more safety but as a result the trading frequency is decreased too, it's better to use it with recovery mode enabled.
This mode runs with GBPUSD with a fixed low StopLoss of 33 mainly to decrease the drawdown and improve the EA stability, but as a result the profit factor and the total net profit could are decreased compared to the standard settings.
This mode aims and behaves the same as GBP52 with higher frequency to increase the total net profit, but as a result the profit factor is decreased and the drawdown is increased compared to the GBP52 mode.
Here is an other merged analysis of EUR30 and GBP33 on the previous fixed spread (2 pips) backtest reports of the EURUSD and GBPUSD using QuantAnalyzer v4.10.5:
The average monthly profit is $24.83 using a starting balance of $1,000, while the combined maximal relative drawdown is 4.63%,, the average profit factor is 1.46, while the winning trades accounted for 86.27% of the total, with an average win / loss ratio of 6.28. A quick Monte Carlo Simulation Chart with 100 simulations is also available.
The most impressive of the previous new updates of the EA is the new EURUSD setting, but anyhow I prefer to keep it as close to "factory settings" as possible.
Well, now we know the most important characteristics of Wall Street Forex Robot; it's a scalper, running 24/5, uses the M15 timeframe and the pairs recommended by the provider are EURUSD and GBPUSD, while USDJPY, USDCHF, USDCAD, NZDUSD and AUDUSD are also officially supported.
It's probably not a good idea to manually configure each pair SL and TP although you can. The EA gets its settings updated from the server after authorized access configuring each pair preset values; the SL ranges from 120 pips on EURUSD and GBPUSD to as high as 160 on USDCHF, while the TP is around 25 pips, with the notable exceptions of GBPUSD where TP is 50 and USDCAD where TP is 14. The stop loss is rarely touched, though - by deeper inspecting the backtests - as any sensible scalper EA, in most cases when the market moves against it, it can close the trades before hitting the SL, the average win / loss ratio being roughly 1:2.75. It has also an ability to take profit early before the take profit target is hit by its positions, when it figures that's as many pips as the market is going to give it.
The strategy itself is fairly simple; a few indicators which are shipped with MetaTrader are involved in a creative way, so the entry signals are determined. It has retry loops for opening/closing orders, denoting a certain degree of experience with automated live trading. Although the DLL programming is sometimes an obstacle for EAs running on multiple pairs with the same DLL, in this EA it seems to be entirely thread safe.
When running on the recommended two pairs, the average of WallStreet Robot is about 3.5 trades / day and almost 5 trades / day when running on all the five days of the week, so it qualifies as a rather frequent trading EA. There's no GMT setting as it trades around the clock, so it's not to worry about in this EA.
Wall Street Forex Robot is completely compatible with the NFA rules as it opens only one trade at once on each instrument traded, there is no problem with FIFO and hedging. But you need to be careful as if it operates together with another EA trading the same pairs on an account with the NFA restrictions in place, this might lead to inability of one of the EAs to open trades.
The most important parameter that has to be set is the AutoMM which is determines the risk with which the EA would trade where the EA opens positions in lots equal to (AutoMM Value / 10) which means a risk that equals to AutoMM Value % of the account balance per individual transaction. An AutoMM set to 3 is considered moderate risk, something like 5 would be the most popular value set by the traders. Setting it to Zero will let the EA trades with a constant lot size of 0.1 pips which can be changed to the desired lot size.
The second most important parameter is the RecoveryMode that is strongly recommend to be left disabled. While it may seem to gain higher, it will certainly increase the drawdown dramatically, even the included user guide recommends that. One other parameter is that used to limit the maximum risk per trade with a default value of 20 which is considered a perfect value for that parameter, it's basically a safety setting.
A featured StealthMode parameter is likely better to off / disable it if the account's broker isn't suspected to misbehave. A similar setting with another EA caused some very heavy losses. Any trader could configure the pair parameters manually instead of using its defaults. The stop loss, take profit, secure profit and secure profit trigger parameters are also configurable.
Every parameter is explained in the manual and there is a whole chapter concerning money management that explains the correct configurations of the EA to use the risk that you want, but you have to care for that each currency pair has its own inherent risk and as the EA runs on multiple pairs, this usually leads to smoothed out drawdowns, sometimes combined drawdowns. A backtesting chapter is also featured in the user guide. It also contains some really reasonable broker advice with no affiliate links.
The EA features a HUD (chart display) that looks like the same style as old KangarooEA but with a bit less information. The most important data shown is the lots it will trade, the current spread and trade status along with the authentication result.
With respect to the EA seller, The official website of Wall Street Forex Robot seems to be a miscellany collection of routine marketing stuff with all available font sizes and colors and this might give the impression that I'd be an other scam EA.
The website's most important areas are 5, the first involves promotional offers (if current) with the buy link in addition to some interesting information about the EA.
In the second area there are demo Alpari accounts live trading result statements running the EA, all of which are stamped with the independent verification of MyfxBook.
In fact Wall Street Forex Robot deserved to write a review about here, it does have a few drawbacks. While this is not counted as a cheap product as a copy costs a $297 (periodic discounts are frequently released) for a license running on a single live account with an MT5 version is included. If a $1000 account would be using this EA, it has to be run for about half a year with risk 3 just to result in a final profit equal to the investment. So this EA is mainly targeting larger account sizes. After the 2 year anniversary of the EA, the authors have updated the EA and now latest version includes also an advanced news filter.
No doubt, this is surely the only scalper robot with this profit and opening positions around the clock I even knew, in a way that the high price might be justified. The owners' forward test totally comply with the previous backtests, so it seems to be so promising. Finally, you may need to raise your intend level to buy this product if you knew that there is a 60 day refund policy, conditioned upon the EA failing to produce profit.