WallStreet FOREX Robot was developed especially for the GBPUSD, EURUSD, and USDJPY currency pairs.
WallStreet FOREX Robot is compatible with all MetaTrader 4 brokers, as well as with brokers using ECN-type order fulfilment. You do not need to change any settings.
WallStreet FOREX Robot is entirely compatible with NFA-regulated brokers applying No Hedge and FIFO.
WallStreet FOREX Robot automatically recognises whether your broker offers four or five-digit quotes. You do not need to change any settings. On no account multiply TakeProfit and StopLoss values by 10 if your broker offers five-digit quotes.
We do not recommend that you launch and close your trading terminal too often. Ideally, it ought to work without interruption from market opening on Monday to closure on Friday.
For problem-free operation, use a computer with a minimum configuration: 1.5 GHz processor, 1 GB RAM, and Windows XP, Windows Vista, or Windows 7 operating system.
Maintaining a stable internet connection is of the essence to ensure reliable WallStreet FOREX Robot operation.
It is the spreads offered by your broker that chiefly determine how much profit you can make by using WallStreet FOREX Robot. The recommended spread for EURUSD is under 2 pips, for GBPUSD under 3 pips, and for USDJPY under 3 pips.
Be on the lookout for brokers who steal pips and who try to fulfil each order at a price which is less favourable to you by 1 or 2 pips. This way, advertised 1 pip narrow spreads can easily work out at 3 or 5 pips, thus reducing profits made by WallStreet FOREX Robot. Be particularly cautious of new brokers who advertise aggressively on the internet.
Risk management is of fundamental importance in attaining optimum forex trading results. It pays to think carefully before deciding what percentage of your account to expose to risk in each individual transaction. If your account is significant in extent and importance and if you do not wish to take unnecessary risk, then you ought to settle for AutoMM values between 1 and 5 per cent risk per individual transaction. In such case, you may expect a return on investment in the order of 10 to 100 per cent on an annual basis.
If your account is not significant in extent or importance, and if you can afford to assume significant risk, then you may select AutoMM values between 10 and 20 per cent per individual transaction. In such case, you may expect a return on investment in the order of 200 and 1000 per cent on an annual basis. Bear in mind, however, that the level of risk assumed means that the chance of losing the entire account increases. In reality, perhaps the most widely assumed risk per individual transaction is 5 per cent (AutoMM=5), and for a good reason. Assuming 5 per cent risk and applying a good trading strategy, your chances of steady long-term profit are significant, while the risk of losing the entire account is minimised.