New to the market, Wall Street Forex Robot is an expert advisor that is NOT an Asian scalper EA. And that’s about all I can tell you about this robot, other than the heap of proof they have provided on their site.
Wall Street Forex Robot Essentials:
- One licence for three live and unlimited demo accounts
- Not a scalper, so can opens positions at any time
- MetaTrader5 (MQL5) version available free of charge
- Uses a unique risk management algorithm
- Five built-in intelligent protection systems
- Opens 90% of trades during periods of low spread and high liquidity
Here’s how it performed in the lab…
Test 1: Independent Strategy Testing
1999 – March 2011 EURUSD Strategy Test results risking 1 Lot per trade.
View full 1999 – March 2010 EURUSD Strategy Tester results
1999 – March 2011 GBPUSD Strategy Test results risking 1 Lot per trade.
View full 1999 – March 2010 GBPUSD Strategy Tester results
1999 – March 2011 USDJPY Strategy Test results risking 1 Lot per trade.
View full 1999 – March 2010 USDJPY Strategy Tester results
1999 – March 2011 USDCHF Strategy Test results risking 1 Lot per trade.
View full 1999 – March 2010 USDCHF Strategy Tester results
Test 2: Demo Test
Previously ran Wall Street Forex Robot on Alpari UK, testing started on 26th March 2011. Final results were as follows:
Test 3: Demo Test – Updated Settings
Currently running Wall Street Forex Robot on Alpari UK Demo, testing started on 23rd April 2012. Current results are as follows:
| Current Floating Profit ($) | Total Balance ($) | |||
| 0.00 | 5025.31 | |||
| View our Wall Street Forex Robot Demo Test Statement | ||||
Lab Result:
Update 18th April 2011:
- Version 3.8 running as at 14th April. Lot size accidentally reduced to 0.01 Lots and not 0.1 Lots. This has resulted in a flat curve this week. Lots now back to 0.1.
Update 19th April 2011:
- Due to Lot size change as mentioned above, WSFR appeared to lose connection with the active 08:46 EURUSD trade, when compared to the same trade on my live account. I therefore closed this trade manually.
Update 21st July 2011:
- USDCHF currency pair has been turned off due to poor performance.
Update 1st September 2011:
- USDJPY & GBPUSD currency pairs has been turned off due to lower than expected performance. EURUSD pair remains.
Update 23rd April 2012 (moved to Live Trial):
- After searching a few forums it appears that there may be long term profitable settings for this EA.
- New test started with the following settings:
- EURUSD, NZDUSD, USDJPY & GBPUSD currency pairs
- CloseOnlyOnProfit = true
- RecoveryMode = true
- All other settings default
Yeah i got it too.. -120 pips!! oh well, let’s hope it doesn’t happen again eh!
No trades for me today. I guess I’m lucky (Broker: MB Trading)
I guess a lot of people got it, I am with AAAfx on this account but Cam, got it with GOForex and Alpari UK it seems
I am running this bot also on an Alpari UK Classic 2 account, and no trades today with WS Bot….
Me too I’m lucky No trades today.
I got the GBPUSD trade and SL on one account, but other accounts did not take the trade…
Well I just got the worst luck!…Broker FIBO…
Two trades open
EURUSD near to SL and GBPUSD already in SL
Does anybody have a EURUSD trade still open with WS?
No EUR/USD on aaafx for me except for the one pip gain yesterday
Hi guys,
Yes, I also received the SL hit on GBPUSD. Nothing for EURUSD.
Now I got hit on the GBPUSD. Just before the weekend …. 120 pips loss
I Think I change the SL manually. To 40 or something
Now I see the order has not been closed.
I am now in the GBPUSD the whole weekend?!
Very dangerous
So the WS has no protection to go overnight into the weekend. A disappointment. Very dangerous
So the WS bot has no protection close positions overnight into the weekend. A disappointment. Very dangerous
Can anyone tell me what happens if Monday the symbol quote opens far below the hard programmed SL. Does the position than closes with a mega loss? Can I still prevent this from happening? Anyone?
I’ve had hard-to-take losses before in Wall Street, but the GBPCAD took the full 143 pip stop-out on its spike during the news on Friday…. on two accounts.
Cost me over $1800 total on Risk setting 1. Hate to think what I’d have sustained on risk setting 5 (that I’d previously been using).
I will be turning off all EA’s during the duration of the US debt ceiling debacle next week… Too easy for the news to whipsaw the market…
I try USDJPY, and action 2 times, all closed in profit, but..yes, got knock down in GBPUSD
Hi Cam,
are u facing losses today on gbp/usd, eur/usd and usd/jpy on ur live go markets account? i faced it on my think forex live…. whats ur settings in news period that u off the ea during news days and such choppy market conditions or u let it run?
I let it run, but in hindsight it would have been better to turn it off last week. No losing trades open at present.
Hi Cam,
I purchased it four weeks ago and had a reasonable first week, but the choppy conditions severely affected the performance and I should have turned it off sooner. Not traded with it for a week and a half. How is it performing for you at the moment?
See live trial chart above.
Cam, just wondering your opinion on this EA as it is not looking very good recently. I like you have removed USD/CHF and as of yesterday I have reduced my risk on USD/JPY tp just 0.5% as it looks like it isn’t working to well on that pair either.
Do you think that Wall Streets recent performance will get better?
Hi Steve,
I share your sentiments exactly. EURUSD is looking like the strong consistent performer while the other three have all had hiccups along the way. It’s hanging in my live trial by the skin of it’s teeth.
All I can say is thank god for Megadroid. I have them running on the same account and thanks to megadroid I am still breaking even despite the bad losses recently on Wall Street. I will give Wall street another month and see what happens but it isn’t looking hopeful.
I am done with wall street…its been a joke lately…what i earned in 2 months,50% of it gone in one week.threw this robot in the recycle bin
Another bad trade, time to say goodbye to wall street.
I agree Steve. I removed mine from my live account an hour ago. It has also been moved back into the lab. I’ll add the other pairs on again and monitor it for a year before making a final call.
Lots of EAs are doing bad lastly. So it it not particular this EA. Has to do with the interventions taking place the last months. As long as this takes place it is very hard to make the right trades. My two cents…
http://sgtreport.com/2011/09/teetering-on-the-brink/
I agree, lots of EAs are not working as expected of late, if this had been an ea that i had been using for a year or more I might be tempted to suffer a bit of loss but unfortunately I took this EA live at the end of September. As you can see, the worst time to start trading live. Oh well, it is a shame but we soldier on.
..
So glad I got out of this when I did!!!
Thank you for the new setting!
Is everyone using EUR33 setting that we have announced from WSFR last Nov?
Below is excerpt from their email. (10/19/11)
“2. We have developed an alternative and low risk set of settings for the EURUSD pair. The stop loss is reduced to only 33 pips and the drawdown is very low. If you like to load these settings, you should change “UseCustomPair”=TRUE and “UseSettingsFrom”=EUR33 in the EA input parameters. Restart your MT4 terminal after this (just in case).”
Please be careful on the new setting. It was a big big mistake that I loaded the new setting to my live account! I made big loss from it!
I had some DD on the last trade, but it came back round and closed out in small profit on live. Could be the broker or another different setting overriding the ones above.
In my opinion, if an EA doesn’t work out of the box and continuously needs tweeking then it is useless. I understand that markets change an EAs don’t work in all conditions but in my mind the EA creators should release updates that make it work in the current environment. It should not be up to EA users to update setting (except certain risk setting), if a user is competent enough to correctly analyze current market conditions they can make far more money manually trading.
I got out of this ea in September of last year, it failed and therefore will never make it back.