The Wall Street 2.0 Forex Robot Evolution is an updated version of the Wall Street Forex Robot, which came out five years ago. This newer version offers some nice new and improved features that most traders will appreciate. Continue reading to learn why this forex robot program earned high marks from traders and investors of all skill levels.
Overview and Features
If you purchase the older version of the Wall Street Forex Robot, then you’ll notice a major difference when you visit the webpage. The site has a very pro look, with an intuitive user interface that makes navigating the site simple.
In terms of quality, the creator claims they’ve streamlined the entire system, so you’ll enjoy a newer version of the program that made a name for itself all those years ago. This bigger and better program has a lot to offer seasoned and new traders.
The program includes a Broker Spy Module. This module is designed to protect the trader from scams and unethical brokers that can hurt a trader with delayed order execution, spreads, and negative slippage. The program works by automatically scanning for new updates and settings. This means you won’t have to worry about restarting the robot. While this is a great feature, it’s also one that’s common among other leading trading robots.
The design team also claims that this version is much better and faster than the original robot. Whether or not this is true remains to be seen, but even the beginner has to admit that the program itself is fast and intuitive. The design team took the best features from the original version and created a new forex robot that’s much faster, more efficient, and much stronger. The best thing about this robot is the fact that it will automatically update and adapt to current conditions in the market. This will allow you to put the program on autopilot during sleep and allow the robot to make solid investments for real profits, around the clock.
As we briefly touched on earlier, this system features a Broker Spy module, which is marketed as scam intervention software. The software is designed to ensure brokers cannot steal your money. The program’s creator claims that this program offers several failsafe features designed to intervene in a manner that doesn’t allow the thieving broker to trick the software using methods such as delayed order executions and spreads. The software will monitor for broker movements and investments at all times. The company guarantees the software can easily sniff out a scam and prevent you from being robbed, twenty-four hours a day, seven days a week.
The system is updated in real time and it’s hands down one of the best features this program has to offer. While many forex trading programs require the user to manually reboot the system in order to refresh the settings, this program will update itself automatically based on the settings you’ve put in place, in terms of refresh frequency.
A Trading Bot that’s Dominating the Market
This new and upgraded program has been said to be more consistent and profitable compared to the original version. While the original version offers sixteen pips, the new and improved program offers twenty-six thousand pips in the same amount of time.
This can mean a huge increase in profit for the trader, and just from upgrading the software program they use.
A Bot that Provides Results
This is a scalper trading program that uses the M15 time frame. The pairs that are recommended by the provider are GBP/USD and EUR/USD, however, AUD/USD, NZD/USD, USD/CAD, USD/CHF ,and USD/JPY are also supported.
While you can manually configure each pair, it’s not the best idea. The program gets updated from the server after it has received authorized access and configures each pair’s preset values. The SL ranges from one hundred and twenty pips on GBP/USD and EUR/USD to as high as one hundred and sixty pips on USD/CHF. The TP is around twenty-five pips, with the exception of GSB/USD where the TP is at fifty and the USD/CAD TO is at fourteen.
While the stop loss isn’t often touched, in many cases when the market moves against it, it’s able to close trades before hitting the average win and loss ratio. The program also has the ability to take profits early before the profit target is hit by its positions. It does this once it determines that is as many pips as the market is going to give.
The strategy this trading bot uses is actually pretty simple. There are a few creative indicators involved, so entry signals are determined. It also uses retry loops for closing and opening orders and denotes a certain degree of experience with live trades. While the DLL programming can seem like an obstacle at times when it’s dealing with a variety of pairs that use the same DLL, with this program it seems completely thread safe.
This program is totally compatible with NFA rules since it opens only one trade once on each instrument traded. Because of this, there is no issue with hedging. However, you’ll still need to be careful if it operates with another EA that’s trading the same pairs using an account that has NFA restrictions.
Auto MM is the program’s most important parameter. This parameter determines the amount of trading risk. It features six settings ranging from zero to five. When you set it to zero the bot will trade with the constant 0.1 pip, which can be adjusted to the desired lot size.
The recovery mode is the second most important parameters setting. Most traders recommend leaving this parameter disabled. While it may seem to offer a higher gain potential, it can also increase the drawdown dramatically.
Each of the parameters is explained clearly in the user’s manual where you’ll find an entire chapter regarding money management. This chapter discusses the right configurations you should use based on risk. This section does a great job of giving users a clear understanding of how the program works, what you can expect in terms of performance and how to experiment with settings, starting off using minimal risk settings.
This forex robot offers plenty of features you won’t get from competing programs, including the following:
- Users can choose to support increased trading frequency
- Pending stop and loss orders
- Risk reduction to the minimum reasonable levels
- Top of the line profit protection system
Losing in the Forex Market
There are many reasons people can lose a lot of money in the forex market. Unfortunately, beginners tend to lose more than the seasoned trader. Not only do beginners not have a deep understanding of how the market works, but they don’t invest in the right forex programs that can scan for market trends and make the right trades at the right time. Programs such as Forex Trendy, combined with the Wall Street 2.0 Forex Robot can provide the beginner with the tools and knowledge they need to make a profit in the market.
Another common reason people lose money in forex trading is a poor trading plan or a general lack of discipline in the market. Again, this is another common issue beginners struggle with. If you’re new to the forex market, click here to read our article on forex tips for beginners. You’ll find out what to do and what not to do in order to enjoy a successful career in the forex market.
Most beginners either decide to study the market on their own and forego a trading robot or they buy the wrong program. Spam trading bots or fraudulent software programs that act more like affiliate marketers can cost you big if you don’t know what you’re doing. The Wall Street Forex Robot works for you, is very versatile, and has an excellent reputation among traders of all skill levels. If you’re not sure which trading or trend scanning program to go with, always read reviews before you buy. You’ll find that the 2.0 Evolution version has received plenty of positive feedback from traders and investors looking for an edge.
Changing the Way You Trade
This program automates all of your forex trades, allowing you to focus on other tasks. It can do just about anything involving placing and managing trades.
If your trading strategy is mechanically based, meaning it doesn’t involve a decision-making process, then you can program this bot to make trades for you twenty-four hours a day.
This trading bot has been around for years. It’s not like other programs that tend to spring up overnight and start selling you the get rich quick dream, only to disappear on you a month later.
The biggest advantage this program offers is the ability to trade day and night. A human forex trader will have many limitations when it comes to how many hours they can devote a day to making trades. A trader has to work, sleep and eat. It’s just not possible for a human to trade twenty-four hours a day. The trader is only able to devote their time to certain times of the day. In doing so, they end up missing out on both exit and entry opportunities that are offered by other time frames. This bot doesn’t need to rest, sleep, all it does it work for you around the clock. It can even update as frequently as you want it to, so it’s always making trades based on market conditions.
Essentially, this program can free up a lot of your time so you’re able to do other things at home and at work instead of staring at your computer all day. When the Wall Street Forex Robot makes trades for you, you’ll no longer be a prisoner to price charts and your computer. You can still spend time researching new trading ideas, but ultimately, this program will do all of the heavy lifting for you.
Since the program operates based on a set of rules, bias, ego, fear, and greed won’t cloud its judgment, which can often happen with new traders.
Fear is usually the biggest obstacles that can interfere with a successful trading career. Fear can often become an irrational force that can prevent the trader from making the right trades. It can also cause the trader to hesitate for too long and miss out on a profitable move.
Additionally, greed can also cause the trader to make poor trade choices or hold onto a position longer than necessary. The human trader is also plagued with bias. When looking at indicators and charts they often see what they want to, looking for any sign or confirmation that will give their gut feelings some validation. These traders aren’t able to see things objectively and critically. As long as there’s money involved it can be very hard for a human to overcome these types of negative feelings.
This program will help you overcome making emotion-based trades by taking you out of the equation and only using tested trading strategies.
This program features parameters that can be optimized and back tested using quantifiable data. In the past, traders never back tested their trading ideas, which is a surefire way to lose big in the market. Before trading bots even existed the trader had to resort to time-consuming research that involved printing off reams of charts and trying to identify the behavior of the rules relating to their indicators and taking note of the gains and losses. Because this process was so time-consuming, traders often failed to back test their strategies, only doing so on higher frame charts, preferring to not go back too far in time. Every change in the parameter or rule of the indicator forced the trader to repeat the process. This made it incredibly difficult to optimize the process. With optimization engines and built-in back testing, programs such as this one can save the traders from wasting several hours a day.
This program is able to react to and identify opportunities much faster than the trader can. The beginner won’t have to worry about missing a profitable trading opportunity just because they’re not using the right chart or staring at the chart closely enough. The won’t even have to waste time manually entering an order.
This program will use the speed of your PC to monitor market conditions and identify and seek opportunities for profit based on set parameters. It will execute a trade based on these rules in just fractions of a second.
The beginner can learn how the market works without having to spend countless hours studying the market. With a forex robot, the beginner doesn’t have to start out being a market expert. Additionally, the program’s simple user interface makes it easy for beginners to navigate the site, check out market conditions and set parameters.
This trading robot can consistently carry out trading plans. The majority of traders don’t even have a trading plan in place. If they do, they usually fail to follow them. This bot is designed to stick to your trading plan without any exceptions. Using this bot will force you to stick to your trading plan, increasing your trading discipline overnight.
It can monitor several currency pairs at the same time, so you’ll have more trading opportunities compared to when it was up to you alone to monitor the market. You won’t have to worry about missing out on a trade while you’re at work. This program will give you the power to monitor dozens of charts and currency pairs more efficiently.
When you make trades manually, you really have to do a lot of work to become a good trader. Do your market research daily, watch the market closely, enter a trade carefully, then spend a lot of time babysitting the trade. This tedious process has to be repeated for each and every trade, every day. This heavy workload can be very stressful, especially if you have a full-time job and trade in your free time.
What are the Drawbacks?
This program must run on a decent computer. You also have to have a reliable internet connection. Ideally, the program should run twenty-four hours a day in order to allow it to take all the orders it’s designed to.
Manually intervening is not recommended, considering the program’s creator has a much better understanding of the program’s inner workings and has done all of the appropriate optimizations and back testing. A trader who wants to alter an exit trade will usually end up hindering the program’s full potential.
This program works best on trending markets so it can be vulnerable when the market becomes sideways. This program tends to get chopped up when the market enters into the low pipe range. Unfortunately, it’s very difficult for program developers to design and plan a bot that won’t be negatively impacted by certain market conditions.
How this Trading Bot Can Help You Avoid Common Trading Mistakes
This program can prevent you from making common rookie mistakes because it’s based on a low-risk scalping system following medium term trends. The program acts like an unemotional, unbiased decision-making software program, so emotion will not cloud its judgment. A beginner is not able to remove their emotion from the equation when trying to determine when to execute a trade. Beginners will often sell off their currency once they notice even the smallest changes in the market. This program removes emotion and makes trades based on parameters that have been set in place by the trader.
It features a risk calculation feature that measures the trading volume using risk percentages. Traders can also toggle on current drawdown compensation.
A trade will be made using proven methods of profitability. This program only opens a position against daily movements based on that method. It also has defensive stop loss orders in place, which is something that works well to protect against losses.
Other Program Perks
- You can sign up for a demo account which is unlimited and allows newbies to test drive many of the program’s top features that can be found in the real version. This will give traders the opportunity to see how the market really works and how the software performs in the live market.
- Once you purchase this program, it’s yours for life, unlike other bot programs that require an ongoing monthly service fee. This system also automatically updates itself, so it’ll work forever.
- The program features a multi-tiered security system that ensures your money is safe.
- There are no limits regarding trading times, which means you can make trades all day, every day.
- The custom settings allow the trader to control the strategies used and the amount of risk.
- Also included is lifetime customer support.
- Free demo account allows beginners to check out what this program has to offer and how it acts in a live market
- Lifetime customer support
- Automatic updates
- Allows you to trade any time of the day or night based on custom settings
- One-time fee
- Compared to other leading forex bots, this program is pretty pricey