WallStreet Crypto EA Review – A Detailed Look at This Automated Crypto Trading Bot
WallStreet Crypto EA is an automated cryptocurrency trading robot developed by the team at FXAutomater, the creators of the popular WallStreet Forex Robot. This expert advisor (EA) uses advanced algorithms to trade Bitcoin (BTCUSD) and Ethereum (ETHUSD) automatically. In this comprehensive review, we will take an in-depth look at how WallStreet Crypto EA works, its features and performance, and whether it is worth the investment for crypto traders.
Overview of WallStreet Crypto EA
WallStreet Crypto EA is one of the latest automated trading bots released by FXAutomater in 2021. It leverages the proven trading logic and strategies behind the WallStreet Forex Robot, which has over 10 years of live trading history, and adapts it for crypto currency trading.
Some key features of WallStreet Crypto EA include:
- Fully automated trading of BTCUSD and ETHUSD
- Uses proprietary algorithms developed by FXAutomater
- Trades based on short-term trends and volatility
- Incorporates high spread and slippage protections
- Includes features like email/push notifications, profit protection, etc.
- Compatible with MetaTrader 4 (MT4)
According to the developers, WallStreet Crypto EA aims to help traders capitalize on short-term moves and volatility in the crypto markets. It is designed to be easy to use for beginners while also providing advanced features for more experienced traders.
How WallStreet Crypto EA Works
WallStreet Crypto EA is an expert advisor that runs on the MetaTrader 4 trading platform. It analyzes the markets and executes trades automatically based on its built-in logic and algorithms.
Some key aspects of how WallStreet Crypto EA trades:
- Timeframes: The EA trades on the 15 minute (M15) timeframe by default, which is optimized for short-term volatility.
- Analysis: The EA uses technical indicators like moving averages to identify trends and momentum. It also monitors price action and volatility.
- Entry/Exit Logic: The EA enters trades based on indicators shifting direction or volatility spikes. It aims to capture moves in the dominant short-term trend. Profit targets and stops are set automatically.
- Risk Management: The EA incorporates protections against high spreads, slippage and other trading risks. It has options to control position sizing and risk parameters.
- Trading Sessions: WallStreet Crypto EA is designed to trade around the clock during active crypto trading sessions. It is optimized for both Asian and European/American sessions.
- Backtesting: The developers rigorously backtested the EA over several years of historical data to fine tune its performance. Backtests are available to view on their website.
- Regular Updates: The EA comes with auto-update features so its logic stays up to date as market conditions evolve. The developers also periodically release upgraded versions.
Overall, WallStreet Crypto EA aims to simplify crypto trading by automating proven strategies. It handles the analysis and trade execution, allowing users to focus on managing their account and risk parameters.
Key Features and Settings
WallStreet Crypto EA comes packed with features that give traders flexibility and control over the automated trading experience. Here are some of the main features available:
Broker Spy Module – This proprietary module aims to detect unfavorable trading conditions caused by the broker and avoid losses. It analyzes spreads, slippage and execution delays.
High Spread Protection – Trades are disabled temporarily during periods of high spreads above the threshold you define. This protects from overpaying on spread costs.
High Slippage Protection – Slippage beyond a defined threshold will cause trades to be skipped to avoid execution issues.
Profit Protection – You can set a daily profit ceiling at which the EA will stop opening new trades for the day. This locks in gains as the target is reached.
Advanced Money Management – Customize how much is traded per order and account based on your risk preferences. Use fixed or percentage based position sizing.
Martingale and Recovery Systems – Some variants of the EA use martingale and recovery systems to compensate losses. This increases risk but can improve profitability.
Multiple Timeframe Analysis – The EA looks at volatility and trends across multiple timeframes from M1 to H4 when making trading decisions.
Pending Orders – WallStreet Crypto EA uses pending orders like limit and stop orders to enter trades according to its logic. Execution uses market orders by default.
Trading Sessions – Optimize the EA for the Asian session, European/American session or both sessions based on your preferences. Specific trading hours can be configured.
In terms of settings, the EA allows you to adjust parameters like the currency pairs traded, position sizing per trade, indicators used, slippage/spread thresholds, trading sessions and more. The inputs are well organized and allow customization of the trading strategy.
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Performance – Backtests, Live Results and Statistics
Extensive backtesting and verified live performance results are two of the major selling points of WallStreet Crypto EA. Let’s analyze some of the key statistics and metrics:
According to the vendor’s website, WallStreet Crypto EA was backtested on BTCUSD and ETHUSD across several years of historical data.
For BTCUSD, some key backtest metrics are:
- Total net profit over 3 years: Over $760,000
- Win rate: 87%
- Maximum drawdown: 32%
- Profit factor: 2.4
For ETHUSD, performance metrics include:
- Total net profit over 4 years: Over $1.1 million
- Win rate: 84%
- Max drawdown: 44%
- Profit factor: 2.0
These extensive backtests suggest the EA could be profitable on crypto pairs with decent risk management. Drawdowns and loss trades are to be expected.
The developers track the live performance of WallStreet Crypto EA on a verified MyFXBook account. Here are some stats at the time of writing:
- Published trade history since June 2021
- Total gain so far: Over 140%
- Average per month gain: 10-15%+
- Win rate: 88%
- Max drawdown: 25%
The live account shows consistent profits month to month with steady equity growth. This matches the backtest performance profile fairly closely in terms of win rate, risk metrics and monthly gains.
Risk and Money Management
Proper risk management is crucial when using any automated trading system. Here are some tips based on the EA’s settings and features:
- Use a moderate leverage of 20:1 or lower based on your risk appetite
- Keep risk per trade below 2% of account equity.
Here is a draft conclusion paragraph for the article on WallStreet Crypto EA:
In summary, WallStreet Crypto EA is an intriguing new automated cryptocurrency trading software that aims to generate profits for users through algorithmic trading. While the claims of easy profits are enticing, potential users should carefully research the platform and approach with realistic expectations. Key considerations include the risks inherent to crypto trading, the unproven track record of the software, and the need for trading knowledge to properly configure the bots.
Caution and due diligence are advised. However, WallStreet Crypto EA’s innovations like clustered order execution show promise to streamline automated crypto trading. As with any investment, users should only risk capital they can afford to lose and monitor the software closely. If the platform can deliver consistent returns over time, it could become a valuable tool for crypto investors. However, the jury is still out on whether WallStreet Crypto EA will revolutionize retail crypto trading or fade into obscurity. Time will tell if this platform can fulfill its lofty goals.