Support has been good. There are not a lot of updates as the bot works pretty well as is.
It is making me pips on my live account, even through the tough month of Aug.
Hi guys,
I am testing this EA on a thinkforex demo account at the moment and have been for about 4/5 weeks. I really want to get it going as a lot of you guys are having a lot of success with it. I have to say for me it has not been too good so far but I know it is August. I think so far EU is in a slim profit of pips while the others are all losers and I have hit quite a few full 120 pip stop losses.
I was wondering if people would chip in with which broker they are using this EA and how succesful it has been for them. I know a lot of people are using hot forex but I am ideally looking for a broker that I can have my base currency as GBP. I know that this EA can be profitable as it is for a lot of you guys but I think I might have to change broker to get this one to trade profitably.
Anyway, hope this one continues to be succesful for everyone. Good luck and happy pippin,
Chris
I have not needed support yet, so i guess thats a good thing?
In regards to WSFs performance for me, I kicked it off on the 4th Aug, and am now sitting at about +0.5%, i was down -12% at one point. Im sticking with it though, no big deal, its part and parcelā¦
Hi guys,
What would you say is the Average Stop Loss of this bot?
I am really thinking about buying it, anybody using it on FXopen?
Any myfxbook graphs that I can look into?
Thanks
The good days of this bot are over? What are your thoughts guys? I think it has been started to decline. Maybe the latest patches improved the situation? Anyone compared? Would really like to hear some input. Thanks,
I do not have this EA.
It is August so I believe it is not going so good.
Anyway I will wait for a myfxbook to see if I will buy it or not 
Well, I rather think that a good EA should be tested in difficult conditions! So, now I try Wallstreet Forex Robot in August to see how it manages the trading in difficult market conditions and I see that is doing very well, as if it were a human beingā¦
Wally has been doing great. I have no complaints at all about her performance and its only going to get better and better.
Johnny what about the RecoveryMode? Should I have it False or True?
Thank you
Have been running this ea on two pairs, eurusd and eurjpy for about 2 weeks. So far ive got a 4%+ gain. Iām using fairly conservative risk so thatās not a bad start so far.
Hi Johnnykanoo,
I want to thank you for all the info you post on this board, itās much appreciated.
Anyhow, when you say āForex Morning trade x 3ā what does that mean?
Does it mean that you are using 3 copies of the Forex Morning bot?
Furthermore, do you use the services of a VPS to run your trading
platform and your botsā¦and if so, what service do you use?
Any Forex knowledge you would enlighten us with would be very
deeply appreciated and I thank you.
Yours,
pipsaregood
I donāt undertand and have a clear picture of what exactly the āSecure Profitā and āSecure profit Triggerā are doing in THIS EA? Especially the units? Are these ābreak even points? If so, how are they to be determined? The two seem to be somewhat redundant: with the āSecure Profitā in $ and then the āSecure Profit Tripā must becalculated in Pips to mach this?
Some clarification would certainly be appreaciated.
I agree about the very hefty StopLoss points. Not realistic unless one has a huge equity and keeps the trade sizes very conservative. Iām currently trying 2% with 4% Max and alreafy feel that this is over exposed with allowing 8 trades (Per Chart or Per account?) and at 200/1
11 losing tardes in a row with a SL of 100 ~ 200 pips is great: for teh broker and some other trader that is vacumming up your money! This scenario is getting into theāsucicdal rangeā. If one is just ging to ādonateā and willingling give away such loses, why not buy soemthings you like that you will have long after or at least throw a good party? Seems a more sensible prospect than perhaps taking an unbroken loss of up to 2200 pips
Hi Dough,
with these settings, you can assure, once the trade runs into profit, and it comes back to close in positive terrain (to prevent minus). So within Pips in Profit (Secure profit trigger), you can set a minimum positive pips (Secure Profit) which he should realize to prevent running into neagative.
Hi,
Thanks for your response.
So it is like a āBreak Evenā setting as I suggested? Will it close out the trade as soon as it hits this pips value in profit or is it more like a āTrailing Stop Lossā that will go past the ābreak evenā point and then close the position out if it drops back down to this āBreak Even Pipsā level?
Regards,
DougRH
Hi Dough,
the functionality takes effect if your trade goes initial positive x pips and above, but then it turns and goes negative. Right before your trade will become negative x pips before the trade will be liquidatet to prevent a loss. Itās more kinda Airbag 
Some people use this to get a few pips before diving down :8:
Hi fellas/ladies,
There is one thing I dont get about WSFR and that is that the TP is between about 17 and 30 pips as default on the 4 different pairs yet a full stop loss is 120 pips and it hits these fairly reguarly (at least 1 a week for me) so each pair needs to hit 5/6 full TP in order to break even against a full stop. This just doesnt seem to make sense with me.
I may well be missing something here guys but I am now running this with 3 different brokers on demo accounts (ThinkForex, Alpari UK, and HotForex) and although HotForex seems to perform better than the other two hitting a full stop still seems to make it very difficult for the robot to stay in the green. Anyones thoughts and opinions would be appreciated.
Chris
Hi,
I couldnāt agree more. It seems the huge SL eliminate most of the gains achieved by WSFR. Perhaps this behaviour should be modified because otherwise it seems like a good EA.
[B][I]Hi Chris et al,[/I][/B]
All to many, probably the majority of commercial SPAM EA garbage that only makes any money for those that write &/ormarket and sell them rely on this so heavily that they are not really any legitimate trading algorithm at all. I have seen all to numerous instances of this including one of the top rated supposedly best commercial EA of ALL time that has the SL set 25 TIMES higher than the TP Most EAs by a long stretch donāt have this kind of accuracy. I woke up one day to find that this āmiracle makerā had eloped overnight and was now wedded to a trade that was -450 pips in the Hole ! )< 8( Weeks later I managed to get out with a loss of ONLY 300 pips! Some miracle bot that is.
I had another one that actually had exceptional accuracy: 100% for almost 6 months! Its problem? It was supposed to trade on three different currency pairs but only ever traded on one and then only a couple of times a month. It likewise had the SL set MANY times higher than the TP. SO that one losing trade wiped out over 6 months of 100% accurate trades and then some! )< 8( If it never trades, it is never going to make any money. If it gets into far more losing trades than (potential) winners: same thing. Their is just no way that any Bot is going to 'filter out 80% of the trades that are losers and make a profitable bot out of it.
Their are a small percentage of EAs that can and will do well with a SL set (appreciably) higher than the TP. But they are few and far in between. In most cases, the EA has no valid inherent and profitable trading system encapsulate within them so they just jack up the SL with the idea that it is 'so high that it will never be hit!" HA! With the market volatility these days? It just aināt so! If it ever was!
Trading bots which tend to be much more static than the smart, flexible and adaptive EA between are ears to start with. So no trading program/bot isnāt going to be some āwunderkindā just because it is now a program! If there isnāt a PROVEN winning trading strategy behind it before it gets made into a bot, then automating it most suredly is NOT going to make it into the āHoly Grailā of FOrEx trading. Quite the contrary. Take the same trading system and manual trade it versus an automated trading bot and it is very difficult to get it to perform as well as when it is manually traded, usually by a very wide margin.
Next time you are getting suckered into some no āinstant, overnight āBank BREAKERāā take a look at the TP to SL ratios. They are usually quite telling: GIGO = 'Garbage In, Garbage Outā
I for one am VERY glad that ClickBank is outlawing the heaps of sickening āget it now before it expires/runs outā tactics that are totally undermining the credibility of the ForEx trading bots slew! I mean I am getting to the point of being 'literally āsickenedā by the āaversion therapyā that we get bombarded with of all the garbage in the ForEx (and web marketing persay) OnLine marketing.
ForEx trading bots have the dubious distinction of having the HIGHEST RETURN RATE of ANY and ALL Digital DownLoad products GLOBALLY! )< 8( Do Tell! I wonder what THIS is indicative of? DUhhhhā¦ These days the ForEx trading GIGO Bots are being delivered by the train load to all of us. What profuse and stinking piles of CRAP!
For those NuBs that havenāt yet found these things out the hard and expensive way yet: Learn to recognize MQL4/5 āBack Testsā which are totally and completely meaningless and are absolutely worthless as far as being proof of 'amazingly profitable ForEx EAs. If this is all some schtick is throwing at you as proof, hit the SPAM button and put it where it belongs: in the mountains of GIGO garbage piles along with 99% of almost all of the rest of commercial retail ForEx trading bots.
[B]Buyer BE VERY WARY INDEED![/B] When you pay for a FX trading bot that turns out to be nothing but garbage, DEMAND A REFUND. The more that more of us do this, the better it will be for all of us!.
[B]Being forewarned is to be forearmed! [/B]
[B][I]DougRH[/I][/B]
Thanks for the reply DougRH.
I understand what you say it makes perfect sense but what confuses me further is that there are people on this forum and others reporting good, consistent success with this EA including johnny who started this thread and in all of his threads that I have read he always gives a very frank and honest opinion of the EAās he tests. I just cant figure out why I cannot get this EA to trade profitably if others are.
Chris
[I][B]Hi Chris et al,[/B][/I]
Iāve had FapTurbo from a short while after itās release and it is widely touted as being the āworldās most successful EAā It likely is: at least in sales! This was the EA that āelopedā on me over night and I awoke to it being ~ [B]-450 in the red[/B] and finally got out of it with ONLY a [B]300 pip loss![/B] )< 8( Iāve NEVER been able to make any money with it and I spent a LOT of time and energy on numerous occasions trying to do so. They have just released a new version of their scalping pairs based on the Ichimoku indicator. While it is better than their previous versions on a number of levels, so far it has still proved to be more bother that it is worth. )< 8(
What was the other one that fell into this same classification? A yes: MegaDud (MegaDroid) it hardly ever traded and most definitely was not profitable on the long haul. Or in the fairly short term really either as far as that goes.
.
[B]Brokers DO make a difference![/B] Iāve got some good documentation on this and how to do some ātestingā on them that came with what may be a good EA that I havenāt got around to trying yet. If Iām able to, Iāll post the relevant excerpt from it here later. Also different EAs will perform differently with different brokers. Again, their is NO substitute for your OWN first hand experience and confirmation. Alas almost the entire retail ForEx market has virtually NO credibility and by and large their is an almost total lack of integrity and honesty. )< 8(
Like so many other traders before me, I jumped into Live trading almost immediately. So for quite some time now I have hardly done any live trading but a LOT of demo trading /forward testing. Iām on permanent disability now and live WAY below the poverty line (& yes it is true what they say: Poverty SUCKS big time!) so Iāve had very little discretionary income for quite some time now. Relative to this, in spite of what many (brokers) and EA shysters say, if one doesnāt have a large enough opening balance to handle the drawdowns AND the drop in equity in open trades. Most systems are not going to survive and become profitable with $50 or $500 etc. The latter is an often overlooked important factor. Donāt go live with ANY trading systems including bots until you are very familiar with itās performance in forward testing and only then when you have enough money in your account that you have a very high degree of certainty from this first hand experience that you KNOW that the opening balance is going to make it into profitability and start growing without getting wiped out. (Under my circumstances) Alas I can personally attest to this hence my current ForEx āTradingā activities. If you are starting out with any trading system, manual or automated, I suggest that you only put it on on the account at least until you have it well built up into the safety zone and have another winner that you have first hand experience with that you can add into it. Though not always financially feasible, if you can I very strongly suggest setting up separate accounts, including with different brokerages for different trading systems/bots. Just like any investing: diversification is an important factor to long term success. If you have real strong winner that has brought in a good return, then spread it around onto a couple of different brokerages as well. I know of successful traders that use up to 5 different brokers for any one profitable āsystemā.
[B][U]Be patient, persistent, sensible and conservative[/U].[/B] This IS investing and NOT gambling! If gambling has itās hook in you, turn away from the ForEx market as quick as you can and run as fast and as far as you can from it and donāt ever look back! Unlike all of the hype about the retail forex market being a āget rich quickā scheme. ForEx traders that are successful over the long haul are VERY conservative. They donāt usually utilize the really highly leveraged rates either: it cuts both ways. Youāre probably going to be a whole lot more successful over the long haul trading at 15 to 1 than at 100 ~ 400 to one. Remember: 1% ~ 2% per trade at the very most.Even with this, I donāt recommend ever having more that 10% total in play at anyone time; and these figures are on the HIGH side! If you are over leveraged, you may not be able to place trades with low enough lot sizes so that you are not over leveraged and at to high a risk level. Better to have more trades at lower leverage than the other way around. Only if and when you have a proven trading system that you KNOW for certain is a rock solid performer with VERY low drops in open equity and DrawDowns and losers, then go for some higher leverages if you want. But donāt put anything else at these kind of leverages until you do. Again, under such circumstances I strongly suggest a separate account for each such product/system.
[B]U Optimizing[/U]:[/B] I picked up some good tips recently on this:
[B]1)[/B] Donāt pick the top, but isolated ābest performerā In the MT4 results graph. Use the 2 dimensional graphic results. Pick settings from the REGION that is profitable. If it is a very selective performer that wonāt make anything except under the EXACT optimization results, it is going to fair a lot better if it is still going to make at least some money whenever it is in the ball park rather than the occasional āBullās Eyeā big winner but with a LOT more losers because it missed the very tiny mark.
[B]2) [/B]Divide your optimization periods up into 4 quarters. Optimize on the first 3/4 of the data and then run the strategy test with these setting on the final 1/4 and see how it does.
[B]3)[/B] One very successful automated trader [B]optimizes his EAās EVERY weekend on the last two weeks of data.[/B]
Again; rely on your OWN testing, experiments and experience before going live with anything including such optimizations.
When Iām choosing which optimization results to utilize, I sort it by DrawDown: lowest to highest. Then I start from the top and work down and look for the best balance in a region that has similar results with different settings and pick the āMotRā (Middle of the Road) settings from this region.
[B](8 >) Prosperous trading to one and all (< 8)[/B]
[B]Regards,
[I]DougRH[/I][/B]