An Expert Advisor can come in handy for Forex traders who don’t want to make bad decisions that damage their profits. Expert Advisors or EA is a program that automatically executes trades on behalf of the trader or can advise the trader when to trade.
The EA Wall Street Forex Robot is one such program that is considered to be one of the supreme Forex robots ever made. This robot was created by a group of expert traders and software developers that have garnered years of knowledge in their respective fields.
Wall Street Forex Robot trades on scalping methods, uses the 15-minute timeframe and is the first EA to get automatic updates. The recommended currency pairs are GBP/USD and EUR/USD; while it can also trade in other pairs like USD/CAD, AUD/USD, USD/JPY, USD/CHF, and NZD/USD.
WallStreet Forex Robot official works on the MT4 platform and has delivered consistent profit and income throughout the years. Launched in 2011, this is one of the reasons for this EA’s popularity among veteran and amateurs traders.
WallStreet Forex Robot 2.0 Evolution, the latest version of this EA that has an improved Profit Protection System additionally giving users the option to apply Stop Loss and Limit Orders. This newly updated Forex robot has some unique features like:
1. Broker Spy Module
This tool protects a trader’s income from unethical brokers that cheat investors with high pay spreads, high negative spillage, and delayed order execution. Traders can use this tool to observe whether their brokers are stealing from them.
2. Real-Time Update System
With real-time update system, traders can get their settings updated without restarting the program. They can even change how often the robot updates for new settings.
3. Advanced Money Management
EA Wall Street Forex Robot 2.0 Evolution has an algorithm that automatically calculates the risk in a trade to enable traders to take effective money management strategies. It also automatically determines or gives the trader the option to use a fixed amount of capital in each deal depending upon the percentage of account risk per each deal.
4. Profit Protection System
Profit Protection system gives the trader the option to use stop-losses to protect their profits. Additionally, the robot uses different algorithms to calculate the ideal position where the trader should exit a trade.
Beginners can benefit the most from a this EA Wall Street Forex Robot because usually they
May not have any effective risk management strategy,
lack of experience,
insufficient knowledge of using stop-losses,
knowledge of volatile market conditions where the trend goes against them.
WallStreet Forex Robot 2.0 Evolution, a great way to start trading for beginners, works exceptionally well and can provide as high as 584 pips in just 10 months according to the official website.
Traders can purchase this Forex robot and deploy it in their trading strategies. Although the latest version is 2.0, there exists no substantial proof when the WallStreet Forex Robot 5 will release.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.