Wall Street Scalper EA Review – A Next Generation Scalping Solution

The Wall Street Scalper EA is an expert advisor designed specifically for scalping the US Wall Street 30 index (US30). This trading robot aims to capitalize on small price movements using an artificial intelligence-powered strategy. I analyzed the EA’s features, performance statistics, and risk management approach to provide an in-depth and unbiased review.

Wall Street Scalper EA

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Overview of the Wall Street Scalper EA

The Wall Street Scalper EA is marketed as a next generation scalping solution developed using advanced AI technology. As per the sales page, it has undergone rigorous backtesting on historical data and live testing on both demo and real money accounts.

The developers claim their expert advisor is already used successfully on multiple accounts with varying risk appetites. It is customizable with adjustable inputs for take profit, stop loss, max spread, and risk/reward ratio.

Key features include:

  • Specialized for scalping the US30 index
  • Uses pending orders to enter trades
  • Incorporates stop loss and take profit for every trade
  • Fully optimized out of the box
  • Compatible with all brokers with low spread

Strategy and Logic

The Wall Street Scalper EA uses an undisclosed proprietary strategy for entering and exiting trades. As a scalping EA, it aims to profit from small price movements and thus requires a high-pace market like the US30 index.

I analyzed the limited information available about the logic and found no evidence of risky tactics like martingale, grid, or order averaging. Each trade appears to have a predefined stop loss and take profit level based on the risk/reward ratio setting.

Overall, the EA seems to utilize a sound strategy for scalping even though the lack of transparency about the exact logic raises some concerns. More details would help users understand how trades are opened and managed.

Historical Performance and Statistics

According to the WallStreet Scalper sales page, the EA has passed months of backtesting on historical data. However, no verified backtest reports are publicly available to ascertain the claim.

I examined the myFXbook account statistics shared for live performance tracking. The WallStreet Scalper seems profitable on a small $500 account but the track record is only around 2 months long. Statistical relevance typically requires at least a year of live trading data.

The lack of long-term verified performance makes it difficult to gauge consistency and reliability. More transparency through detailed account statements would help establish credibility.

Key statistics:

  • 2 months live performance
  • $500 account size
  • No verified backtests available
  • Risk/reward ratio and max drawdown not posted

Risk Management Capabilities

Risk management is a crucial aspect I analyze in any EA review. The Wall Street Scalper makes the right statements about avoiding risky tactics like martingales and grids. However, details on the stop loss approach are limited.

The EA allows users to set a preferred risk/reward ratio. This suggests a correlation between the stop loss size and take profit target. However, the exact logic is unclear.

There are also inputs to control max spread allowed before trading stops. This can prevent excessive slippage during high volatility. Overall, the EA seems to offer reasonable risk controls but more transparency would be reassuring.

Ease of Use

The Wall Street Scalper EA appears simple to install and use straight out of the box. Traders only need to attach it to a US30 M15 chart in MT4 or MT5 to initiate automated trading.

The input panel provides multiple presets so users don’t need to change individual settings. I would still recommend testing different risk profiles in the strategy tester before going live. Ensure you understand each parameter even if using a preset.

The developers recommend using a broker with very low spreads to maximize scalping performance. So ensure you choose a compatible broker before purchasing this EA.

Wall Street Scalper EA Pricing and Support

At the time of writing this Wall Street Scalper review, the EA is priced at $650 on the vendor’s website and reseller shops. This is reasonable considering the specialized focus on scalping the US30 index.

I could not find details on any recurring fees or additional costs. The pricing seems to be a one-time charge for a lifetime license. Make sure to clarify before making a purchase.

Customer support options include email and contact forms on the developer’s site. Additional resources in the form of setup guides and FAQs are also provided for self-help.

Wall Street Scalper EA Final Verdict

The Wall Street Scalper EA shows potential as a scalping solution tailored specifically for the US30 index. The focus on risk management and ease of use are also positives. However, the lack of verified backtests and long-term trading statistics makes it impossible to validate performance claims.

As with any EA, I recommend thorough testing in a demo account for at least 3 months before risking real capital. Never risk money you cannot afford to lose. Use prudent position sizing and monitor the EA closely in the beginning.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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