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Author Topic: Wall Street Forex Robot  (Read 1508052 times)

Offline compujock

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Re: Wall Street Forex Robot
« Reply #15 on: March 23, 2011, 01:20:23 PM »
Yes, there is a possibility to use your own Stop Loss or Take Profit value.
The default SL for GBPUSD and EURUSD is 120 pips.
Can you tell us what the deal is with the -320 pip drawdown mentioned in post #7 above?  It shouldn't be possible to have a drawdown greater than 120 pips if it's using a 120 pip hard SL, right?

Offline FXsavvy

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Re: Wall Street Forex Robot
« Reply #16 on: March 23, 2011, 01:29:23 PM »
Hello!

My name is Chris and I am one of the developers of WallStreet FOREX Robot.

I will try to answer on your questions.

Hey there

so you are experienced enough to develope a trading robot but enough to realize that there is no forex trading in wall street?

Anyways, lets just cut the crap shall we?

It's a simi hold and hope- simi martingale system

why is it a simi hold and hope?
not all positions used a stoploss on their one and only live real money test,, drawdown can go to more than -300 pips

Why is it a simi martingale?
Instead of increasing the lot size after a loss it simply increases the trade frequency (it's the same sh*t as martingale style)

Is it dangerous?
Yes, absolutely is

Can it blow-up your account?
F*ck yeah!
   

Offline jsp

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Re: Wall Street Forex Robot
« Reply #17 on: March 23, 2011, 01:53:42 PM »
so you are experienced enough to develope a trading robot but enough to realize that there is no forex trading in wall street?


"Wall Street" is a pretty nebulous term, so I'm not sure what you mean.  But if you're suggesting the big traders, hedge funds, banks, etc., don't hedge against or trade against the U.S. Dollar, you're wrong...very, very wrong.  And yes, it occurs on the spot FX as well as the futures markets.

Now if you're saying they don't use inexpensive Clickbank and Plimus EAs that most of us are limited to using, you're probably right...

Offline Trader@Home

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Re: Wall Street Forex Robot
« Reply #18 on: March 23, 2011, 02:40:16 PM »
hi chris,

warm regards and wellcome to donnaforex forum.

people here have got burnt enough and many times....so thats why you see some of the posts here not friendly.we hope you will not loose your head while trying to solve/address some  of the genuine concerns of potential buyers.

we have seen some developers getting into this without addressing the real issues. 8)

we appreciate your stay here will be a longterm.

Also appreciate you will be limiting the no of copies to 200 max. hope you can keep the word of promise, without getting greedy to earn a fast buck like some other developers and vanish in to thin air. ???

we have no idea how long you have taken to develop this bot, all forward tests do not go past february this year.thats a little concern.

The name is immaterial for me, its the results and robustness that matters after all name earns nothing its the bot. for people who do not like the wall street name should  be able to change it without a big fuss by adding a feature to change the name according to their wishes.........jus kidding
 
to be honest with you i have been looking for a bot that trades around the clock,however the longer the forward test the more it carries weight.

the price seems a bit high 249-299 would have been reasonable.hope you will come with something special for exclusively donnaforex members

appreciate your feedback :) 

thanks in advance...happy trading
« Last Edit: March 23, 2011, 02:47:45 PM by trader@home »
"A man must believe in himself and his judgement if he expects to make a living at this game, that is why I don't believe in tips."

Offline wallstreet.forex.robot

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Re: Wall Street Forex Robot
« Reply #19 on: March 23, 2011, 03:52:01 PM »
Yes, there is a possibility to use your own Stop Loss or Take Profit value.
The default SL for GBPUSD and EURUSD is 120 pips.
Can you tell us what the deal is with the -320 pip drawdown mentioned in post #7 above?  It shouldn't be possible to have a drawdown greater than 120 pips if it's using a 120 pip hard SL, right?

Hello, there is one position in GBPUSD with about 200 pips drowdown and one in EURUSD with about 250 pips drowdown. Up to this moment, the SL for all currency pairs was 300 pips with "Stealth mode"=true. After that moment, the SL was reset to the default and you can check - there is a position in GBPUSD with 120 pips SL hit.
This is the official donnaforex profile of the WallStreet Forex Robot team. If you have support issues or questions, please use our support system, because we cannot guarantee we will be able to monitor our topics in donnaforex all the time.


Offline trader_john

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Re: Wall Street Forex Robot
« Reply #20 on: March 23, 2011, 04:14:17 PM »
Average win is 9.54 Pips (Source: http://www.myfxbook.com/members/forexwallstreet/wallstreet-forex-robot-real/95290)
SL: 300 Pips

Quote
Up to this moment, the SL for all currency pairs was 300 pips...

That means the RR (risk|reward) ratio is 30.80|1.00 ? :o  :o

Offline compujock

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Re: Wall Street Forex Robot
« Reply #21 on: March 23, 2011, 05:40:27 PM »
Average win is 9.54 Pips (Source: http://www.myfxbook.com/members/forexwallstreet/wallstreet-forex-robot-real/95290)
SL: 300 Pips

Quote
Up to this moment, the SL for all currency pairs was 300 pips...

That means the RR (risk|reward) ratio is 30.80|1.00 ? :o  :o
Sure, but with the 120 hard sl it's a more respectable 12:1 RR.  The question is how profitable is it with 120 SL?  Were all of the tests done with the 120 sl all the way through?  If some trades used 300 sl and others used 120 that makes it hard to analyze the results.

Offline compujock

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Re: Wall Street Forex Robot
« Reply #22 on: March 23, 2011, 09:48:29 PM »
I'm really confused, because when I look over the EurUsd strategy tester report I see 120 pip stoplosses hit throughout the report.  However, the statistics section shows a $2366.10 relative drawdown even though lot size is fixed 1.0 lot throughout.   Can you please explain how this can be?  Based on a 120 pip hard stop, we should not have a drawdown greater than $1200.

Offline wallstreet.forex.robot

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Re: Wall Street Forex Robot
« Reply #23 on: March 23, 2011, 10:02:05 PM »
I'm really confused, because when I look over the EurUsd strategy tester report I see 120 pip stoplosses hit throughout the report.  However, the statistics section shows a $2366.10 relative drawdown even though lot size is fixed 1.0 lot throughout.   Can you please explain how this can be?  Based on a 120 pip hard stop, we should not have a drawdown greater than $1200.

There is nothing strange in this, because we could have a series of losing trades.
« Last Edit: March 23, 2011, 10:04:39 PM by wallstreet.forex.robot »
This is the official donnaforex profile of the WallStreet Forex Robot team. If you have support issues or questions, please use our support system, because we cannot guarantee we will be able to monitor our topics in donnaforex all the time.


Offline kjen17

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Re: Wall Street Forex Robot
« Reply #24 on: March 23, 2011, 10:03:12 PM »
The price for Wallstreet Forex is not realistic. With a poor SL strategy it should be priced at 97USD like the Forex Overdrive which uses a  SL of 328 pips which is rarely hit.

The risk reward ratio is awful. It is better you invest that amount of 479USD into your trading account.

Who knows maybe it is the same crap as Forex Overdrive but in another package.

I agree its too high. Instead of only selling 200 copies (haha) at $479, it should be 600 at $160. This would mean they earn the same, lol, and 3 times as many people become rich - how about it WSFR?

Offline NedimHad

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Re: Wall Street Forex Robot
« Reply #25 on: March 23, 2011, 10:18:04 PM »
This EA is overpriced.

It has no news avoidance filter.

Enough said on safety features missing on the EA, something I would expect from an EA in this price class.

Those full SL will occur news driven only and any serious trader knows that.

It is marketing bullshit that the EA learns from its mistakes... come one do you really believe that.

Hunting for 10 pips is okay if you risk 20 pips and your win ratio is above 80%. Lets guess what your win ratio needs to be if you hunt for 10 pips by having a 300 pip SL. Yeah, it should be well above 95%.

Its no rocket science, profitable trading is the right balance between greed and fear!

Offline kjen17

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Re: Wall Street Forex Robot
« Reply #26 on: March 23, 2011, 10:32:42 PM »
This EA is overpriced.

It has no news avoidance filter.

Enough said on safety features missing on the EA, something I would expect from an EA in this price class.

Those full SL will occur news driven only and any serious trader knows that.

It is marketing bullshit that the EA learns from its mistakes... come one do you really believe that.

Hunting for 10 pips is okay if you risk 20 pips and your win ratio is above 80%. Lets guess what your win ratio needs to be if you hunt for 10 pips by having a 300 pip SL. Yeah, it should be well above 95%.

but its not 300 but 120??

Offline NedimHad

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Re: Wall Street Forex Robot
« Reply #27 on: March 23, 2011, 11:00:23 PM »
Chris, I guess it would be great confidence in your product if you could give a promo code for Donna users offering a discount of e.g. 100 USD for the next 7 days.

As more users test it, the word would spread around if this EA has potential or not.

1) I would be interested in it if it would have a news avoidance filter, any chance to add it?

2) What is the probability of having 2 losses in a row on all 4 different currency pairs (combined SL of 960)?

3) I am wondering, who guarantees that 200 copies limitation and that you dont open another sales slot like many other EA developers did just like those GPSForex scammers?

--------------------------------------------------------------------------------------------------------------

kjen17: If you trade 4 pairs you could have a potential loss of 480 pips, hunting for 40 pips, right.

How sounds that? So worst case scenario in backtest was 2 losses in a row, your risk should be 960 pips of potential loss combined for 4 pairs. That event might never happen, so I cannot judge about the strategy as I havent seen one single line of the code and I can only judge on looking at those backtesting results.

I really appreciate that developers have not used MoneyManagement to increase lot size and are limiting copies.

You get a MT5 version of the EA which is good news.

Overall I would love to get more insights from developers on entry and exit strategy.

On the quote that this is a semi martingale, I havent seen yet that it is increasing lot size or flipping trade direction or adding to losers.




« Last Edit: March 23, 2011, 11:35:58 PM by NedimHad »
Its no rocket science, profitable trading is the right balance between greed and fear!

Offline flamenco

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Re: Wall Street Forex Robot
« Reply #28 on: March 23, 2011, 11:32:28 PM »
I bought this today.  Their User's Guide is a complete nightmare to make sense out of.  About 17 different settings you can tweak, with only a brief explanation (usually only a sentence) of what the setting does, but no further info on how to use them.  Been waiting over 12 hours for a response from their 'support team' so I don't have the faintest idea whether to use default settings or what.  At this rate it's going to take me 30 days just to get it up and running to try and duplicate their reported success.  ???
It is not the man who has the most that is wealthy, but the one who needs the least!

Offline kjen17

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Re: Wall Street Forex Robot
« Reply #29 on: March 23, 2011, 11:50:20 PM »
I bought this today.  Their User's Guide is a complete nightmare to make sense out of.  About 17 different settings you can tweak, with only a brief explanation (usually only a sentence) of what the setting does, but no further info on how to use them.  Been waiting over 12 hours for a response from their 'support team' so I don't have the faintest idea whether to use default settings or what.  At this rate it's going to take me 30 days just to get it up and running to try and duplicate their reported success.  ???

backtest the default settings - is it in line with the published results?

 

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