WallStreet Forex Robot Review -Good EA? Bad EA?-
Price and Type of WallStreet Forex Robot
There are 4 types of EA in WallStreet Forex Robot.
The 4 types of EA are not sold separately. If you buy Wall Street 2.0 Evolution for $ 347, you will get 3 other versions for free.
It may seem advantageous to get 4 EAs at once. The account for using this EA is limited to one. So, in practice, only one EA can be operated.
(Please note that it is dangerous to run multiple patterns of EA simultaneously in one account. * WallStreet 2.0 Evolution and WallStreet GOLD Trader can run simultaneously.)
If you want to run WallStreet Recovery Pro or WallStreet ASIA separately, you need to purchase additional licenses.
Features and Transaction analysis about WallStreet Forex Robot
There are four types of EA, so we will explain the features of each.
My personal opinion is that WallStreet 2.0 Evolution is a fascinating EA, but WallStreet Recovery Pro and WallStreet ASIA are not worth using for now.
WallStreet 2.0 Evolution
The first is about the main type, WallStreet 2.0 Evolution.
The time frame is 15 minutes.
Recommended currency pairs are EURUSD, GBPUSD, USDJPY, USDCHF, USDCAD, NZDUSD, AUDUSD.
WallStreet 2.0 Evolution does not use strategies such as martingale and grid trade, which are generally considered high-risk methods.
The EA opens position when price approaches trend line, or at the top or bottom of range market.
The number of pips for take profit and stop loss varies, and stop loss tends to be larger than take profit.
For EURUSD pairs, take profits range from 10 to 15 pips and stop losses vary from a few pips to 70 pips.
It may be ideal that the loss is small and the profit is large, but the closer to stop loss, the lower winning percentage.
“Balance between win rate and stop loss” is important so that profits can be generated over the long term.
So you don’t have to lament that stop loss is greater than take profit.
Since this EA does not use grids or martingales, the risk of sudden account destruction is low.
If you run it according to the recommended settings, your account will not collapse suddenly.
On the other hand, stop loss also occurs relatively frequently.
So there are times when the balance decreases, and there are times when the balance increases.
As a result of being published on Myfxbook, the account balance gradually decreased for about 7 months from August 2018 to February 2019.
If you look at such a drawdown period, it may not look attractive.
However, if it is not grid or martingale, drawdown period will always occur. There is currently no EA that continues to win in any market conditions.
Since February 2019, the account balance tends to rise again beyond the drawdown period.
Considering the above, the result is good enough.
As for trend-following EAs like WallStreet 2.0 Evolution, there are few EAs that are profitable in the forward test.
For now, I think it is a rare and excellent EA.
In Myfxbook, the results have been released since December 2017, but WallStreet Forex Robot has been sold for a long time.
According to information from a user, the account balance grew + 150% as a result of operating from 2011 to mid-2014.
However, market movements change with the years, so it is unclear whether this EA will continue to make profits over the long term.
From the point of view of gaining profits over the long term, the fact that this EA is equipped with “automatic update function according to market conditions” is a promising factor.
WallStreet Recovery Pro
WallStreet Recovery Pro is a modified version of WallStreet 2.0 Evolution.
It works basically the same way as WallStreet 2.0 Evolution.
The difference is that when the first trade has loss, it opens a position with increased lot size (recovery position) and eventually ends up profitable.
In other words, martingale is adopted.
Recovery trade can be customized with the following parameter settings.
WallStreet Recovery Pro also has real account results published on myfxbook.
WallStreet 2.0 Evolution causes stop loss relatively frequently, so there are times when the balance will decrease.
WallStreet Recovery Pro, on the other hand, continues to increase its balance beautifully through recovery trades.
However, recovery trades naturally increase the risk and increase the equity drawdown.
In the public results, up to 62.7% equity drawdown has occurred.
Looking at the public results, if the loss of the first position increases, a 4x size recovery position will be opened and will attempt to cover the loss.
The recovery position can only be opened once for a 4x size position.
The recovery position has no stop loss.
Instead, “MaxAccountDD” parameter setting allows you to specify what percentage of account balance is at risk.
However, although you can specify maximum drawdown percentage, you can suddenly lose a lot.
In the public results, the lot size has not been increased since the start of operation, even though the account balance has increased.
Other vendors’ martingale EAs also tend to operate with fixed lot size in the published results so as not to increase risk.
If it can withstand the relatively large equity drawdown that occurs first and you do not increase lot size, you may be able to expect stable profit every month.
However, unless increase the lot size, we cannot expect a large profit.
WallStreet ASIA is a version that performs scalping trades in Asia session (Tokyo session).
WallStreet 2.0 Evolution works in 15M timeframe, whereas WallStreet ASIA works in 1M timeframe.
Forex market trading hours are divided into four categories: London session, New York session, Asia (Tokyo) session, and Oceania session.
Asia (Tokyo) session corresponds to the time zone from 24:00 to 9:00 when expressed in British summer time, and from 8:00 to 17:00 when expressed in Japan time.
The Asian (Tokyo) session time zone is characterized by moderate price movement compared to the London and New York sessions, and strong trend is unlikely to occur.
No significant price movement can be expected in the Asia (Tokyo) session. However, it can be said that it is a suitable time zone for scalping in the small range market.
However, since it is a scalping EA, the result depends on the trading environment such as broker spread and VPS speed.
Note that some brokers make the spread wide during Asian (Tokyo) sessions
If you use WallStreet ASIA, you need to select a broker that has narrow spread and does not widen spread during the Asian (Tokyo) session.
The results of WallStreet ASIA forward test are also published on myfxbook.
The results were excellent from the start of operations in March 2015 to March 2018, but the results after April 2018 are not good.
Also, the public WallStreet ASIA account is not a real account, it is just a demo account.
In particular, the results of scalping EAs differ greatly between real accounts and demo accounts due to slippage and other factors.
Even if the results on the demo account are good, it doesn’t always give the same results on the real account.
Given the bad results since April 2018 and the forward tests are on the demo account, I cannot recommend using WallStreet ASIA.
WallStreet GOLD Trader
WallStreet GOLD Trader is a version dedicated to the Gold-USD currency pair (XAUUSD) released in 2018.
The transaction logic is similar to WallStreet 2.0 Evolution, and is also run on the WallStreet 2.0 Evolution myfxbook account at the same time.
So far, GOLD Trader has won in total, but since the number of trades is still small, what will happen in the future is unknown.
Countermeasures for Brokers in WallStreet Forex Robot
WallStreet 2.0 Evolution is a type of EA that aims for relatively small profit of 10-15pips in 15M timeframe, and is susceptible to widen of broker’s spread and slippage.
WallStreet ASIA is a scalping EA and is greatly affected by these effects.
In the case of malicious brokers, stop loss hunting, spread widening, and slippage widening may be used to intentionally lose traders.
However, it is difficult to evaluate a broker with constant monitoring of spreads, slippages, stop loss hunting, etc.
Therefore, it is necessary to select a good broker that does not intentionally widen spread, does not intentionally have bad slippage.
However, even if you select a good broker, depending on market conditions, spread may widen and slippage may occur.
WallStreet Forex Robot has various functions to deal with such broker-side problems.
It can be evaluated that it is an EA with the best function as a countermeasure against the broker.
BROKER SPY MODULE
The following information is displayed on the chart screen of MT4, and the performance of the broker used can be confirmed.
In addition, the range of spread and slippage can be set in the settings, and if value outside the range is detected, popup alert of MT4 terminal will be displayed.
If out of tolerance values occur frequently, you may need to change the broker.
Broker Protection System
This is a system that prevents brokers from stop loss hunting.
By turning ON StealthMode, which is prepared as parameter, it is possible to prevent the broker from recognizing take profit and stop loss values.
That is, the original take profit and stop loss values are not recorded on the broker side server, and when the price reaches the specified value, a close order is sent from the MT4 terminal.
Therefore, if the MT4 terminal communication is interrupted or the MT4 automatic trading mode is unintentionally turned off, the stop loss will not function and there is a possibility of suffering an unexpected loss.
As countermeasure against such accidents, emergency stop loss is placed on the broker’s server,
Before emergency stop loss, stop loss that the broker cannot recognize will work.
High-Spread Protection System
You can set the position not to open when the spread becomes wider than the value specified in the parameter.
High-Slippage Protection System
Large slippage may occur when the market volatility is high and price fluctuations are severe. In addition, malicious brokers may intentionally generate slippage depending on the situation.
You can set to avoid entries when slippage is likely to occur that is larger than the tolerance specified in the parameter.
Support and Money Back Guarantee
Purchaser can get 24/7 email support and refund of the purchase price within 60 days.
There are many vendors who say they have support but don’t reply or respond quite slowly.
On the other hand, WallStreet Forex Robot vendors have been operating for a long time, but have not received much bad reviews about support.
I think that you can receive a relatively conscientious support.
It means that it’s more conscientious than other vendors, and we don’t expect EA vendors to provide generous support.
The money-back guarantee period is 60 days after purchase.
In addition, many vendors have restrictions on refunds (for example, if the EA did not work or if you followed recommended settings but suffered significant losses).
On the other hand, Vendor of WallStreet Forex Robot allows unconditional refunds.
However, real account losses caused by the use of EA will not be covered.
I think that the 60-day unconditional money back guarantee for EA purchases doesn’t mean much.
Summary and Conclusion of WallStreet Forex Robot
- At first glance, WallStreet 2.0 Evolution may not be attractive for the total profit and profit curve of the published results. However, considering the trade logic and installed functions, it can be said that it is a rare and excellent EA.
- The martingale and grid-based EAs look attractive because they draw beautiful balance curves, but suddenly lose a lot. WallStreet 2.0 Evolution does not use high-risk methods such as martingales and grid trades. Profits can be expected with the entry method according to the trend.
- Since it has an automatic update function according to the market environment, it can be expected to generate long-term profits.
- It can also be evaluated that measures against brokers such as slippage, spread widening, and stop loss hunting are installed.
- WallStreet Recovery Pro and WallStreet ASIA comes free with the purchase of WallStreet 2.0 Evolution, but it’s not worth using as long as see the trade logic and results.