Expert Advisors EA are used to render the trading process automatic allowing to exempt the trader from continuous watching the market. All buyers of V4. Initially, I only ran tick data backtests using the Dukascopy data with variable spread but when I noticed I mistakenly ran them with risk 2, making them not easily comparable with the previous backtests, I decided to also run some history center data backtests and some tick data backtests with risk 3, all of which you will find below. The Wallstreet Robot averages about 3. Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions.
But all this rant made me almost forget a very important detail mentioned on the website: The only parameter that you really have to set is the AutoMM. This is basically the risk that the EA runs with and failing to configure it will make the EA trade a constant 0. There is also a RecoveryMode parameter, which I strongly recommend not enabling. While it may lead to apparently higher gains, it will surely increase the drawdown dramatically.
Even the manual makes a similar recommendation. Instead of using the pair defaults, any user can configure the pair parameters manually.
The stop loss, take profit, secure profit and secure profit trigger can be configured, which should give many weeks of busy CPU time to the computers of the people who are into optimizations. The manual also features a backtesting chapter that I carefully disregarded and proceeded to doing it my own way which is almost the same when it comes to history center data anyway. It also contains some really sensible broker advice and no affiliate links, which kind of surprised me, given the product website.
Most importantly, it displays the lots it will trade, the current spread and trade status along with the authentication result. As usual, I began by running history center data backtests on the time range.
I chose an average spread for each pair:. All the backtests performed on history center data were using the default settings for all parameters except the AutoMM which was set to 3. I will definitely not include it in the forward test, but I will run the other backtests on it as well, for the sake of consistency. To save you the trouble of clicking each balance chart, I made a small table with some relevant data for each backtest.
I proceeded to perform some backtests on Dukascopy tick data next, using fixed spreads equal to those used with the history center data above. The foreign exchange market is the largest and most liquid financial market in the world.
Traders include large banks, central banks, currency speculators, corporations, governments, and other financial institutions. The average daily volume in the global foreign exchange and related markets is continuously growing. What is EA Expert Advisor? Expert Advisors EA are used to render the trading process automatic allowing to exempt the trader from continuous watching the market.
Many professional traders have a big amount of trading systems allowing them to work in different markets and under different conditions. EA is robotic script written in MQ4 language. It can work in the Metatrader 4 trading platform.
WallStreet Forex Robot 2. MT4 can be found and downloaded from most brokers' websites. I have no experience with Forex Robots. Is it easy to use? Yes it is easy to use. No need to be professional. Everyone can do it. Yes it is too easy. Just a few steps and you will be ready to use WallStreet Forex Robot 2. You can download detailed installation guide from the download section in the member area.
It will guide you through the setup process. Your copy of WallStreet Forex Robot 2. You should login into your Account: Repeat this procedure for all accounts. Can WallStreet Forex Robot 2. Yes WallStreet Forex Robot 2. You don't need to monitor you trades. It opens only 1 trade per instrument traded.
The robot is compliant with the NFA rules. When you are trading any currency pair with the WallStreet Forex Robot 2. The EA is available for Metatrader version 5. It is recommended not to set the Stop Loss and Take Profit values manually in the robot, although one can do so.
This is because the settings are automatically updated from the server. You can change the SL and TP triggers for each pair if you want to optimize them based on your calculations. As such only the AutoMM parameter needs to be set.
AutoMM value indicates the risk value with which the EA should trade. If this is not configured, the robot will trade at constant 0. The AutoMM value is generally between 3 and 5 for forward tests but can be set to any desired lot size. The robot also provides a RecoveryMode parameter. If enabled, it can provide higher gains. The downside is that it can also result in increasing the drawdown drastically.
Thus, enable this parameter only after due diligence. Basically, if you have reason to believe that your broker is delaying your order execution or cheating you with high spreads or indulging in other unethical behavior, you can enable the StealthMode parameter.
This allows you to monitor the trades every minute. You can also limit the maximum risk per trade. The default value is 20 and is ideal for safety. The robot also features a chart display which shows the lots being traded, the current spread, trade status etc. The robot provides history center data to run backtests. It is essential that your account has lower spreads to get positive performance from the robot.