Expert Advisors (EA) are used to automate the trading process, freeing the trader from manually having to monitor the markets. Many professional traders utilize a variety of trading strategies that enable them to function in various market conditions and under different situations. An EA is a robotic script developed in the MQL programming language that can automatically do all of the chart analysis, trading and money management. Forexrobots are mostly compatible with the MetaTrader trading platforms. However, WallStreet Forex Robot is one of a few trading robots that is compatible with MetaTrader 4 and MetaTrader 5 platforms. WallStreet Forex Robot has launched various versions including:
- WallStreet Forex Robot 3.0 (Latest Version)
- WallStreet Asia
- WallStreet Gold Trader
- WallStreet Recovery Pro
- WallStreet Crypto
The Fxautomater team develops the WallStreet Forex Robot. The WallStreet Robot includes innovative features that help it stand out from other commercially available forex robots including low-risk accumulation and the ability to work in short and medium-term trends. The WallStreet Forex Robot has been designed to trade with some of the most liquid currency pairs, Forex minors, Cryptos and Gold.
- Fully automated trading robot
- Can trade on multiple markets
- Customisable settings
- Unique market bias algorithm
- Broker spy module
- Real-time update system
- 4 professional trading systems combined
- Compatible with MetaTrader 4 and MetaTrader 5
- No 90% modelling quality backtests
- Large drawdowns
- Some Myfxbook accounts have been removed
- Requires very specific broker conditions
- Unexpected high volatility in the markets can impact performance
- The trader has to be vigilant, especially during news releases and holidays
The WallStreet Forex Robot 3.0 is intended to trade on the 15-minute chart timeframe. It operates a scalping system based on a combination of technical analysis and price action. Scalpers must be disciplined and adhere strictly to their trading schedule as any small movement can greatly impact the performance.
Any market movement can trigger these sensitive systems whilst it is important to ensure the broker has tight spreads, low commission fees and reliable trade execution speeds. It is not uncommon to see vastly different results on different brokers when using a scalping trading strategy due to the aforementioned factors.
The WallStreet Forex Robot is fully automated and allows the user to adhere to the pre-programmed approach by removing emotions that can occur from trading manually. However, WallStreet Forex Robot 3.0 is meant to but not limited to function on the forex pairs EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, NZD/USD, AUD/USD, and EUR/JPY (M15 charts).
The WallStreet Forex Robot has an algorithm for automatically calculating risk. This algorithm automatically calculates trading volumes based on the account risk percentage that you set for each trade.
Furthermore, there is the opportunity to activate a money management algorithm to try and compensate for any existing drawdown, yet success on every trade is not guaranteed and you should only use a risk level that you feel comfortable with as every trader is different. Increasing position size to try and recover a loss is very dangerous and can often lead to a margin call and blown account if you are not careful.
The WallStreet Forex Robot can analyze the markets on behalf of the user, looking for potential trading signals according to its built-in trading algorithm. Depending on how the software is setup, it can either alert you to manually consider placing a trade or it can place and manage the trade on your behalf.
The software implements 4 professional forex trading systems within one trading robot, with improved trading frequency. It has the ability to use pending stops and limit orders.
You will need your trading platform up and running in order for a trading robot such as WallStreet Forex to monitor the charts within the platform. If it is not possible to have your computer switched on around the clock, you can always consider a Forex VPS which can remotely run your platforms 24/7.
Here are some of the key WallStreet Forex Robot 3.0 features:
Market Bias Algorithm
The WallStreet Forex Robot offers the capacity to utilise genuine insider money flow information. You may extract the most precise information on the market bias of institutional money with the brand new “Market Bias” tool. Finally, with WallStreet Robot 3.0, you can utilise this one-of-a-kind technology to try and steer your trades in the direction that the smart money is looking.
Broker Spy Module
WallStreet Forex Robot 3.0 is based on the “Broker Spy Module.” The developers have spent a significant amount of time developing and refining this powerful tool to try and safeguard your trading from unethical brokers. The purpose of this feature is to try and prevent forex brokers cheating and protect against high negative slippage, increasing spreads, and delayed order execution. You will be able to track every move and keep tabs on broker behaviour.
Real-time Update System
WallStreet Forex Robot 3.0 has a real-time settings update system. You no longer need to restart your robot to acquire the updated settings. You may specify how often the EA should check for updated settings. You may choose to have the newest optimal settings automatically downloaded and applied from the provider’s servers.
Let’s look at the WallStreet Forex Robot results provided by the developer. You can see a snapshot of these results below and get the latest up to date results on the WallStreet Forex Robot website.
WallStreet Forex Robot Myfxbook
There is a selection of demo and real verified Wallstreet Forex Robot Myfxbook accounts that have been running for a few years. They show the historical performance of the WallStreet Forex Robot, WallStreet GOLD Trader and WallStreet Recovery PRO. You can take a look at the current performance in the following Myfxbook accounts.
Update 15/08/2022: A couple of the Myfxbook accounts have been deleted, which is often an indication that an EA could have crashed. That being said, we still have a few to keep track of the latest results.
WallStreet Forex Robot Backtesting
On the official website, There is a very comprehensive selection of backtests for the WallStreet Forex Robot 3.0, WallStreet ASIA EA, WallStreet Recovery PRO, WallStreet GOLD Trader and the bonus robot WallStreet CRYPTO EA. They show backtests using fixed lots and an allocated risk percentage.
It is worth noting that the provided backtests only have a modelling quality of 90% in the MetaTrader strategy tester. This means that they are not using real tick data or variable spreads and are not including commissions. This can have a significant impact on the accuracy of backtests and we would always expect to see the best trading robots to have 99% modelling quality.
Here are the WallStreet Forex Robot backtesting results:
The WallStreet Forex Robot is a scalping expert advisor that tries to follow short and medium-term trends. It includes a revolutionary, industry-first real-time settings update system built-in. The software finds and closes each trade completely objectively, never deviating from its pre-programmed trading logic. The latest version WallStreet Forex Robot 3.0 includes the market bias algorithm and the broker spy module.
It was developed and optimized specifically to trade on the M15 charts and the following currency pairs: trades EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, NZD/USD, AUD/USD, and EUR/JPY. WallStreet provides its customers with specific versions for trading Cryptos and a Gold EA.
If you have the experience, you can always optimize your own robot settings on various trading instruments and chart timeframes. You can use the software with any account size and start on a demo account in order to get an idea of how it works. WallStreet Forex Robot provides unlimited demo account licenses with every package.
WallStreet Forex Robot has a selection of Myfxbook verified accounts along with plenty of backtests that cover many years and different market conditions. Whilst this can give a rough idea on the potential of the EA, it is of course no guarantee on future performance. This is trading and anything can happen, no matter how much time and effort the developers spend on improving the software.
The WallStreet Forex Robot runs in the MetaTrader platforms. It can trade forex currency pairs, cryptocurrencies and gold, with a combination of short and medium-term automated trading strategies.
What is the WallStreet Forex Robot price?
WallStreet Forex Robot can be bought for just $247. You get a collection of trading robots included with your purchase, including the WallStreet Forex Robot 3.0, WallStreet Asia, WallStreet Gold Trader, WallStreet Recovery Pro and WallStreet Crypto.
Where can I download the WallStreet Forex Robot?
You can download the WallStreet Forex Robot from the official website.
What kind of customer support does WallStreet Forex Robot offer?
Customer support is available 24/7 via email by the development team, Fxautomater. However, once you have purchased the robot, you can also contact customer support from your members’ area.
What are the best brokers to use with the WallStreet Forex Robot?
You can use any forex broker that has the MT4 or MT5 platforms.
What’s the minimum amount required to trade with the WallStreet Forex Robot?
There is no specified minimum amount required to start using this trading robot. You should only use what you can afford to lose and try it out on a demo account first to see if it meets your expectations.
What is the WallStreet Forex Robot refund policy?
WallStreet Forex Robot comes with 60 Days 100% money back guarantee.
Is the WallStreet Forex Robot a scam?
We do not believe that the WallStreet Forex Robot is a scam. However, the forex market can be extremely volatile and often prone to fluctuations. There are no guarantees on how well the software will perform but that doesn’t automatically make it a scam.
Can I get the WallStreet Forex Robot for free?
There are no trials or free versions provided. You could probably find the WallStreet Forex Robot for free online but it is likely to be outdated and against the terms and conditions. You get the benefit of the latest version, complete service and lifetime future updates only by buying the official product.
What currency pairs does the WallStreet Forex Robot trade?
WallStreet Forex Robot has been developed specifically to trade on the EUR/USD, GBP/USD, USD/JPY, USD/CHF, USD/CAD, NZD/USD, AUD/USD, and EUR/JPY currency pairs. There are also versions for crypto and gold trading. However, you may experiment with other trading instruments if you have the knowledge and experience to do so.
What are the best WallStreet Forex Robot settings?
We believe that the default settings provided by the developer are always the best settings for a trading robot, apart from the lot or risk size which would need to be adjusted accordingly. The Fxautomater team would have spent countless hours over many years optimizing the settings so that users do not need to. However, if you have prior experience with automated trading systems, you can try your own settings.
Can I change the WallStreet Forex Robot settings?
Yes, WallStreet Forex Robot provides flexibility to change the setting as per your needs. The external inputs can be modified but if you are a beginner or an inexperienced trader, you may not want to try and mess with the settings if you do not know what you are doing. If you are confident enough to choose your own settings, you can always try them on a demo account first to see how things go.
What do I need to run the WallStreet Forex Robot?
You will need either the MT4 or MT5 desktop platforms and an account with a forex broker. Most forex brokers will let you open a free demo account and download the trading platforms free of charge.
How much money can I make with the WallStreet Forex Robot?
There are no promises of how good or bad any trading robot will perform. Nobody can foresee what is going to happen in the future since markets are so volatile. You should be aware of all of the significant risks associated with using any automatic trading system, such as the WallStreet Forex Robot.
How WallStreet Recovery Pro Works?
This version of WallStreet Robot was created for people who are prepared to take a greater risk in exchange for a potentially higher level of reward. The WallStreet Recovery Pro Robot tries to compensate for the loss of the first trade with a single carefully positioned recovery trade. Only traders with a high-risk profile should use WallStreet Recovery Pro. It can produce big drawdowns if you are not careful.
How does WallStreet ASIA work?
WallStreet Asia is an Asian session scalper on the market. Its predecessor was developed for the Japanese market in the distant 2007. The WallStreet Asia Robot attempts to take advantage of lower volatility market circumstances after the close of the New York trading session to scalp the market. The trading logic differs significantly from that of WallStreet Robot, although it is said that the two robots can complement each other well.
How does WallStreet Gold Trader work?
The WallStreet Gold Trader Robot is based on the basic, time-tested trading principle of the WallStreet Robot. It anticipates trades in the direction of the present market impulse. It attempts to adhere to the trading logic of smart institutional traders. This trading method is deeply etched in the human psychology that can drive market movements.
How does the WallStreet Crypto work?
The WallStreet Crypto Robot modified the trading approach that is at the heart of Wallstreet Forex Robot for Bitcoin (BTC/USD) and Ethereum (ETH/USD). This helps to keep the software up to date with the latest trending instruments.
Results are based on historical data. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. There is no guarantee of future performance. You should understand the risks involved with trading. Your capital is at risk.