There are many people who are writing reviews about different forex robots in the market and a lot of them are professionals who have tested multiple softwares.  They are the experts who may have been earning money through manual forex but they tried these software to see how they actually work for them. 

 There are many types of forex robots found in the market and these experts exert time just to try each and every one of them.  This will allow them to experience first hand the different features of these robots.  After trying them out, they write reviews and keep the best software for them in doing their forex trade business.  They will find out which among the forex trade robots in the market have the best trading strategies and lesser risk. 

 In terms of finding the best forex robots when it comes to strategies, they are looking for whether the strategies of the forex robot can really earn them money or not.  They will check the profit percentage that they will get in using the software. 

 In terms of the risk management, they will compare whether the percentage of winning or losing the trade.  This will help them know whether the forex robot can identify the winning trades from those that are not.  For example, if the percentage of winning a trade is almost the same as the percentage of risk, then the software may not be beneficial for the users.  The risk should always be lower with higher accuracy rate. 

 Another thing to find the right forex robots for your needs is to compare the features that they have.  If you will notice, there are some software that work as one trading application.  However, there are software that can help you do more in trading.  These are the software that can do more specific for its trading strategy.  This means that different software can open up more trading opportunity and increasing your chances to be successful on it.

 When you are ready to get your forex robot, you may want to test it for yourself.  You can test it using a dummy account but it’s essential for you to test it with your own account so you will see how it actually works in a live trading setting.  If you are a first time trader, you will find these forex robots helpful for you since you may let emotions get in the way of your trading investment.  This means that feelings like greed and excitement can make your judgment biased or improper, which may lead to possible loss instead of gains.

 If you are not that confident in doing trading alone, you may want to look for reviews made by experts who tested these forex robots on their own so you can take note from their experiences.  But of course, you have to look for unbiased reviews so you will get reliable information instead of hoax coming from developers.  This will help you get the right software that will help you earn money through trading.

The first impression it had on my mind was like- “omg lolz! What a boring name because there is no one on the Wall Street who trades Forex”. And I was a lot more than harsh about the fact that it was “uninspired”. It seemed to be another scalper of the Asian session and I thought “there is possibility that this may be just a copy of an existing scalper or something like that”. But I have to admit that after inspection, my mind changed drastically because this does a lot more than Asian session scalping. And this is because the trades were not only limited during the Asian session, but they were open around clock in the forward tests. Now it is difficult to believe that it is a unique scalper which trades 24/5 as the numbers of such scalpers are very limited. So my first thought was that it is a scam. And I have seen many sellers who finally get caught with fake statement and results. Therefore to be sure about this one, I requested for a Wall Street Forex Robot review copy to the developer. And to my surprise, with a prompt replay they responded to my request.

So this review about the robot is the clear indication that it is not a scam in any way, because if it was, I will not proceed with this article. After inspection I found that it is an original scalper which trades several currency pairs around the clock and still manage to make a nice profit out of it. It runs of five currency pairs which are- EURUSD, USDCHF, USDJPY, GBPUSD and USDCAD in a lesser extent. But in their manual they did not mentioned about the fifth pairs but I learned if from the author. Like most other scalpers it also runs on M15 timeframe.

Strategy

So the key facts about this Wall Street Forex Robot are that- it’s a scalper that runs on M15 time frame and trades 24/5. Recommended currency pairs for this scalper are the EURUSD, USDJPY, USDCHF, GBPUSD and USDCAD which is actually not mentioned in their manual.

People may find the “supported pairs” topic a little confusing as there are some irregularities present there. For example at the beginning they have mentioned about the three currency pairs (EURUSD, GBPUSD and USDJPY) but stay silent about other two. At the end of that, they also mentioned about USDCHF. You can also find if in their backtests as well as in the live forward test performed by them.

So let’s talk about few other things that everyone needs to know. And I will also try to be brief about it. The configuration of the SL & TP can be set manually for each pair but it is better not to do it. The reason behind is that, it has an auto-update options which enable the EA to update the settings from the server after authentication. There are also options for configuring the preset values. The stop loss setting is also different for example 120 pips for EURUSD and GBPUSD or 160 for USDCHF. The TP is usually 25 pips but in case of USDCAD it is 14 and 50 in case of GBPUSD. The EA rarely hit the stop loss. And this is probably because it can sense when the SL is going to be hit and stop the trades before that. So it is a sensible scalper that can read the market direction. Average ratio for the win: loss is 1:2.75 for this scalper. It also has the early take profit ability just before it hit the TP target. So it took as many pips from the market as available to give.

This EA has a rather simple strategy. It determines the entry signals with few indicators shipped with Metatrader. It is surely creative that is rare in other scalpers. I have also noticed that it has used loops for opening/closing orders repeatedly which is surely an indication that it has some experience with automated live trading. You can also see by checking the order sending of this EA. On several occasions we have found that it produces problems when an EA runs on multiple pairs with same DLL. But surprisingly here this problem is not present. And running multiple pairs with same DLL is a lot safer.

The average trades are about 3.5 per day but if you run it on all five currency pairs that it will be around 5 per day. So from this point of view this is actually a frequent trading EA. For that reason there is no GMT setting and this allow you to trade round the clock. So Wall Street Forex is better in this case.

During trading it can’t open more than one trade at once so it is compliant with NFA rules. It also does not go against the FIFO and hedging. But don’t open it with other EAs that trade the same pairs on an account, because then one of the EAs will fail to open trades because of the NFA restrictions. So you should take care about this matter.

Website

I am going to be rough this time. It may be heard to listen but, I am sorry because I can’t like the Wall Street Forex website. It is because it is not a genuine attempt. It is more like a mixture of ordinary marketing staffs with colourful fonts and sizes. But I am not blind and probably it is the reason why I thought it was a scam at the beginning of this article.

But be patient because there are also some interesting things in this website too. There are several backtests with 1999-2011. Actually there are four of them and all of them were performed with a low starting balance and large lot size. The balance curve is also interesting. There are some ascending steep as well as some large drawdowns. Another interesting thing is that a live Alpari account is also present which is running since December 2010. You could see three Alpari demos in this website but, actually there is no difference between them except they started on different dates. But all these accounts are stamped and verified independently by the myfxbook. There is also HTML abominations encompassing the scrolling account statement in a graphic frame and it is displayed with a large screen. If you scroll down further, then there are also live results. So this website has a lot of things and all of them are important to understand this EA. And it is not possible to get directions without them. So here is the myfxbook widget from this website:

At the top of the page they have mentioned that only 200 copies of this product will be available for sell. But like other marketing stuffs, it is also difficult to believe. However, it is not wise to just let go this product because the marketing style is bad. This product is otherwise good and there is no reason why you should dismiss it. And who knows you may like their marketing strategies because your opinion and taste must be different than me.

I almost forgot to tell an important news which is mentioned on their website and it is that the EA is now available for MT5. So this means if you buy the MT4 version, then you are also gaining access to the MT5 version. And you can download it from the member’s area.

Parameters

There are several parameters but most important of them that are required to be set is the AutoMM. Actually it is the risk lot setting and if you fail to configure this parameter, then there is a possibility that you will end up trading with a constant lot size of 0.1. For my forward test I feel comfortable with AutoMM set to 3. But I also know that there are lot of people who will make it 5. And if you are not going to trade with fixed lots, it is better to change the default lot size (which is 0.1) according to your desire.

You will also find a Recovery Mode parameter which is said to help gaining higher profit, but I strongly suggest against it. It is because at the same time it will increase the drawdown rate. And if you read the manual you will find that they are also saying the same thing. Another parameter is also there to limit the risk per trade. By default it is set to 20 and I think it is better not to touch because of safety reason.

A StealthMode parameter is also present in this Wallstreet Robot. While some may think it useful in case of a misbehaving broker, I suggest that you should disable it before trading. It is because recently I have found several cases of heavy losses because of similar setting (but the EA was different).

Now the pair parameters are changeable. But it depends completely upon the user. Any user can use the default pair settings or can change it. All of them including the stop loss take profit target, secure profit and secure profit trigger can be changeable. But it also means that you have to spend a lot of time in front of the CPU for such optimizations.

The user manual is very descriptive and there is discussion about all the parameters. And there is also a full chapter about the money management. You can find all the explanation and tips about how to configure the parameters correctly. Here I want you to remember that, each currency pair has some inherent risk. Therefore when you are running multiple pairs at a time, the drawdown is usually smoothed out. But sometimes you may face combined drawdowns too. So let’s back to the manual, there is also a page about the back tests. But I didn’t take it into account and proceed with my own backtests. Well it is mostly because of the history center data. Surprisingly there are some sensible broker advice and no affiliate links available in the manual which is quite unexpected.

There is also a HUD which is almost like the Kangaroo EA. It displays limited information including the trade lots, current spread and the trade status. The authentication result is also shown in this chart.

Backtesting

I ran 1999-2011 history center data backtests with average spread for each of the pair:

• EURUSD: 2.0 pips
• GBPUSD: 2.0 pips
• USDJPY: 2.0 pips
• USDCHF: 2.5 pips
• USDCAD: 3.0 pips

So for the ECN broker account the spreads will be lower and surely it will positively affect the performance of this EA. This also indirectly express that fixed spread broker where the spreads are higher, it is not a good idea to run Wall Street Forex Robot in these account.

My backtests were performed on history center data with default settings. But in case of AutoMM it was set to 3. For all the backtests and FXT file creation I have used the GO Market terminal.

Conclusion

If you ask my personal opinion about Wall Street Forex Robot, I will say I like it. Well, probably you already have a clue about it because I would not have written a review otherwise. Although there are some higher drawbacks, bad marketing style and also a steep price of $479, still it is the fact that it is licensed to run on three live accounts and there is also an MT5 version- that what attracts me. And not to mentioned that the price is rather cheap when all of these are considered together. But still it is not a cheap product. And I believe this product has come to stay in the market for long time. This is because if someone starts with $1000 with risk set to 3, it requires almost half a year to earn what he has invested during purchase. We can also assume that, this EA is asking larger account sizes at the same time.

I have already mentioned earlier that, this is the only scalper that is not limited to any particular trading session. It opens positions whenever possible and is a profitable scalper. So I think somehow it justifies the high price for this reason. The forward test that is available in their webpage is almost similar with my backtest results. From every point of view I find it promising. There is also a 60 day refund policy if it does not satisfy you with the profit.

Edit 25.05.2010: An exciting offer is available for a limited time period. A single license version is available for only $299 which runs on a single live account. And like I mentioned earlier, the price of the full version has increased and it is now $599. So with a half price you can have this. Therefore you should not miss this opportunity to purchase this Wall Street Forex Robot Single license.

Forex Roboteer requires optimization and many of the users feel uncomfortable and face troubles about how to optimize, when and what to optimize. But it is comparatively easier because you just need to install the new configuration and then apply it for your current settings. This optimization is necessary to keep your Forex Roboteer functional with every change of the Forex market trends. If you don’t optimize regularly then you may face periodic losses. So for your safety you need to optimize it.
There are several factors which are essential for the optimization of the Forex Roboteer. These are discussed below.
We knew that the most accurate accessible data can be found from the 1 minute Forex trading charts. And Forex Roboteer employs this to increase the accuracy.
It is also essential to prevent extreme optimization to avoid loss. And Roboteer optimization method has self limitation to avoid this. Otherwise there is chance that the profit exit price may exceed the spread. For the same reason it also a bad idea if someone keeps a trade open for months for profits.
Forex Roboteer optimization includes both limited and frequent optimization. There are several technique configurations that do not need to be optimized but only require during installation. But on certain occasions it frequent optimization is required. But the Roboteer can update the optimizing frequency automatically.
Forex Roboteer has a unique parameter for trading. This is calculated by multiplying expectancy and the opportunity and then they are optimized. Here expectancy is the expected return for each dollar that is risked and opportunity is the frequency of trading over a period of time.
Data collected from the market places through MetaTrader, Interactive, eSignal data suppliers and at least twenty other sources are used to create information set for optimization. It updates the buying and selling programs of the Forex Roboteer.
This information is again compared with the historical information stored in the system. Info of Metaquotes and Alpari are used to test the collected data because, they are extremely shut to matching standard market data. This comparison also validates the product’s accuracy.
Forex Roboteer is available at a special discounted price of $97. The retail price of this product is $297. So for the interested parties this is an opportunity to purchase this Forex Robot. Now with the retail price, there is also another additional cost of $47 per month which is the subscription fee for getting updates from the system. You can continue using Forex Roboteer without subscribing for updates, but this probably will make your version less effective after a month. Therefore to maintain the performance of the program the updates are essential.
So at the end we can assure you that Forex Roboteer will be a nice selection if you truly want to walk in to the forex market for long term. All you need to do is installation and regular optimization; the rests will be done by this software automatically without any problem.

Forex Bling Reviews & Factsheet

Unique features in comparison to other products:

• Forex Bling is the only automated trading program that allows 4 types of trading methods including Trend Following Trade, Scalping, Breakout and Grid Trade.  F
• You will get total of 6x expert advisors with Forex Bling containing scripts about different trading methods. For example:
• Freedom EA – for trend following trading
  Evolution and Fractal Wizard EA – for the breakout trading
  Thunderbolt and Thunderstorm EA – scripts about scalping
  Grid Specialist EA – for grid trading

• You can select any of these trading methods simultaneously or one after another according to your strategy.
• You can allocate the capital resources to different expert advisor for trading.
• Step by step trading manual in PDF format (total26 pages).
• You will have a free membership of the forex coaching club.
• Updates and review services for life time.

What are the Advantages of Forex Bling:

• Diversity of the trading system keeps you protected with strong risk management so that your portfolio can stay secure.
  Multiple trading methods allow you to overcome any kind of market conditions and increase adaptability of your system.

• There is no need to test the program as there is live proof of gaining $19,000 from $10,000 within 3 months. Therefore there is no confusion about its accuracy.

• Forex Bling is continuously under evaluation. Therefore you can improve your version by subscribing monthly membership plan.

• Join the user form to get continuous support and winning tips.

Overview of Forex Bling

Forex Bling is a complete automated forex trading tool that helps you to increase your profit. This automated software is an improved and strategically sound system which gives you the following benefits:

• Calm and stress free mind to start trade with.
• Makes your trading calculated and disciplined.
• Gives you confidence about your trading decisions.

Forex Bling has a great adaptability, therefore even if there is change in the market trend, it can run with it and keeps your profit growing. For this reason it is profitable when the market is volatile.

To keep your account balance safe and it trades by keeping a healthy risk/reward ratio. Therefore it is suitable for long term trading.

Unique features of Forex Bling

First and most important feature of the Forex Bling is that here you can practice several trading strategies like-

• Trend Following Trading
• Breakout Trading
• Scalping Trading
• Grid Trading

You have the freedom to use these techniques simultaneously. You can also split your trading balance to trade all together.

There is a unique Trailing method by which you can assume the profit target and the stop loss.

How to use Forex Bling for profit: 

If you want to get best results from the Forex Bling and want to win again and again then you should use it appropriately. Here are some guidelines:

• Let it trade automatically. It is capable of adjusting itself with the market trends using 6x expert advisors.
• You must read the training guide and contact with the support center every now and then.
• You should not trust other vendors or their statistics. You can get live trading results of the Forex Bling from the vendor to evaluate.
• Try to spend minimum amount of money at a time.

Forex Autopilot System is a unique forex trading program, which works by combining a series of 8 expert advisor script or EA and a core/ blueprint style documentation. Therefore it works just like an experienced trader automatically.

The EA script functions as the brain of this program. After plug in to the MetaTrader4, it starts to analyze the available trade options and calculate the probability with the help of EA script. And when there is any good opportunity, it goes for it automatically without your involvement. Thus this automatic trading system earns you money repeatedly.

Now the reason behind the creation of the Forex Autopilot is because there were no other effective forex trading robots which can handle multiple currency pairs at a time. You can only trade with a single currency pair at a time. As a result you are not only missing opportunities but at the same time success rate of the system also degrading. Therefore to present a flexible system in front of the forex traders, Forex Autopilot have been created with 8 scripts so that it can trade with multiple currency pairs simultaneously.

Forex market millionaire, Marcus Leary has launched the system for the potential forex traders after he has successfully tried it for several years. This system contains his signature and style of trading. He uses all of his wisdom to make it a perfect Forex Autopilot over the years.

Forex Autopilot system works automatically while you install the system and find out most profitable trades and starts trading on behalf of you. The selection process is based on the current trends, pointers and indicators which are programmed by Marcus Leary. Therefore you can enjoy trading with Marcus Leary, every time you are trading with this automatic forex pilot.

Details about the package

With each purchase you will have following products with the complete package:

# The Forex Autopilot Robot

Forex Autopilot system trades with the help of 20 or more indicators like Alligator, Fractals, DeMarker or William’s percent rate. Although there is no such independent stop loss strategy with the program but, it close trading internally when there are losses.

# A Bonus Non Farm Payroll Robot

During the monthly non farm payroll figure announcement, there is huge opportunity to catch lots of pips because forex market stays volatile at that moment. And you will get a non farm payroll robot as a bonus with your purchase, so that you can successfully catch killer trades. Expert Advisor of this program is very accurate about decision making to utilize non farm payrolls.

# Combined Ultra Trend Indicator

Combined ultra trend indicator analyzes direction and strength of a trend. It presents you a detail instruction manual and trading setup which you can follow. It also keeps the resistance and support system so that you can stay safe.

# Core documentation

Learning is the best way to stay alive in the Forex market for the long time. And you can find detailed step by step guide and lots of trading information with the system which are enough to make you an expert. Popular techniques like Scalping, Martingale and account management strategies etc are the key headings that you should study about.

Before writing the Forex Autopilot review, I have studied about the comments of the users about this system. There are several negative reviews that say they did not find it actually profitable. But in my opinion this is not actually the fault of this program. It is because the users were so inexperienced and impatience about success that they didn’t read the instruction manual properly. At least I can assure you that if you follow the instruction manual properly, you will definitely succeed in the long run.

But there is something really inappropriate which is- there is no specific stop loss. As a result you never know when to stop. But you can avoid this by stopping it manually at the end of the month.

Review by Mark, Massachusetts, USA. Quoted from forexpeacearmy.com

I believe people who wrote that Forex Autopilot is not accurate; they actually didn’t understand the system. It is not the fault of the system when you see some losses. If you can wait and show some patience, then at the end of the month you can see that your profit is growing. I suggest you to contact with the Forex Autopilot User Group (FAPUG). You can solve your problems there.

Ryan, a Forex Autopilot customer.

Forex Autopilot Review Summary:
Before starting you should spend some time to set the Forex Autopilot system properly. You can use a good broker and trade with demo account for several times to find out the best setting. Trading single currency pair is usually more profitable. Fore example EUR/USD pair is the most profitable trade on a minute time frame. And don’t forget to turn off the autopilot when you are trading manually.

How does Forex Autopilot System Works:

Forex Autopilot system has three different parts. The Forex Autopilot or Forex Robot, EA scripts and set up instructions. It is obligatory that you read every piece of its instruction manual before using the autopilot. It supports MetaTrader4, so you need to find a broker who has this framework.

Installation is very easy. Just follow the step by step installation guide and you can do it easily. Once it is done, it will automatically connect itself with the broker’s account to start trading. Be sure to complete the setting before trading seriously. As the system is reliable, so you can let it run without being concerned about it.

Is Forex Automoney is a true or just another scam?

 Forex Automoney is in forex trading businesses for more than ten years. It is an automated forex signal provider which is working long before our knowledge about Forex market. Today the numbers of such automated systems are few thousands. Therefore it is difficult to determine which of them is true. There is no doubt about the fact that most of these robots are scam. Let’s examine this system we have at hand and see if it is a scam or not.

The Company

Origin of the Forex Automoney is the United Kingdom. We all know how tough the regulations are there in UK. And this company is been there for over ten years. We can find a lot of trusted descriptions also. Therefore if someone is looking for a trusted company, then it is surely will be a top candidate. They have also increased their capacity and now you can trade most of the major currency pairs here. This additional feature also makes it more capable than the rests.

The Forex Signals

I am always sceptical about trading signals as a newbie in Forex trading. I want to be sure before I put my money on it. It is because we all heard about the shady system, shady brokers etc. Therefore I tried the demo trading first. And you know what I got? Their signals were 94% accurate for the EUR/USD pair. And I am not saying this after trying several times. I tried two hundred trades and managed to get this result. I have not tried other pairs yet, but I am convinced about the result I got.

The system is also easier to use. You can get the signals up to six times a day or once a day or once a week. You can also select all of them. Signals are available in the member’s area. But you can have them delivered via email, SMS or special pop up software.

The Performance

I can assure you that the Forex Automoney’s performance is very impressive (at least for EUR/USD which I have tried). You can see the proof of their member’s income to be sure about their performance. Even you can also find the proof which indicates that they are getting profitable by trading GPY/JPY, which is actually almost impossible to trade successfully. So I have to give them a plus for their performance.

Bottom line is that, if you are serious about learning Forex trading and want to be successful over and over again, then you should not miss this opportunity. This autopilot is earning huge every day. But don’t be a fool and slip this opportunity out of your hand.