WallStreet Recovery Pro Review – A Detailed Look at This Automated Trading Software
WallStreet Recovery Pro is an automated trading software designed specifically for Forex trading. It was created by the developers of the popular WallStreet Forex Robot to be a higher risk, higher reward version of their original robot.
In this comprehensive review, we will take an in-depth look at how WallStreet Recovery Pro works, its features and performance, and whether it is worth the investment for Forex traders.
How WallStreet Recovery Pro Works
WallStreet Recovery Pro works very similarly to the original WallStreet Forex Robot. It uses an automated strategy to identify potentially profitable trades and then enters and manages the trades automatically.
The main difference is in how WallStreet Recovery Pro manages open trades compared to the original robot:
- Higher Stop Loss – Recovery Pro uses a larger stop loss, giving the trade more room to become profitable before closing out at a loss.
- Recovery Trades – If the initial trade goes into loss by a certain amount, Recovery Pro will open one or more additional trades in the same direction but with a larger lot size. This allows it to “recover” the loss from the initial trade.
- Close Only at Stop Loss – The original WallStreet robot had an option to close trades at a profit. Recovery Pro removes this option, instead only closing trades if the stop loss is hit.
By using a higher stop loss and the recovery trade system, WallStreet Recovery Pro aims for larger wins at the risk of larger losses. It is optimized for more aggressive trading than the original robot.
Key Features of WallStreet Recovery Pro
Here are some of the standout features that WallStreet Recovery Pro offers:
- Automated Trading – Fully automated strategy that identifies trades, enters, and manages them without the need for manual intervention.
- Recovery System – Unique recovery trade logic to recoup losses from initial trades.
- Multiple Currency Pairs – Optimized for EUR/USD and GBP/USD but works on other major pairs too.
- No Time Restrictions – Trades 24/5 without time-based restrictions.
- Risk Management – Options to limit risk by setting stop loss and lot sizes.
- Backtesting Data – Detailed backtests available to evaluate performance.
- Support and Updates – Active customer support and updates to the software.
The combination of automated trading, risk management, and the recovery system aims to provide consistent profits over time.
Performance and Backtesting Results
Extensive backtesting results are available for WallStreet Recovery Pro, providing statistics on its historical performance across different currency pairs and timeframes.
Here is a summary of the backtesting results:
- EUR/USD 2012-2019 – 65% net profit, largest drawdown 28%.
- GBP/USD 2012-2019 – 55% net profit, largest drawdown 18%.
- USD/CHF 2012-2019 – 25% net profit, largest drawdown 23%.
- USD/CAD 2012-2019 – 34% net profit, largest drawdown 19%.
The best performance was seen on the EUR/USD and GBP/USD pairs with steady profits and drawdowns between 18-28%. Other pairs had positive results too but with lower profitability.
These backtests give traders confidence that the robot has been thoroughly tested and optimized across different market conditions. Live results have also been largely consistent with the backtesting.
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Using WallStreet Recovery Pro
WallStreet Recovery Pro works on the MetaTrader 4 trading platform. It is very simple to set up and get running:
- Download and install MetaTrader 4
- Purchase WallStreet Recovery Pro
- Add the robot to a chart in MetaTrader 4
- Set risk management options like lot size and stop loss
- Let the automated trading begin!
The developers recommend starting on a demo account first to observe the robot in action. Traders can also run their own backtests to optimize settings before going live.
The robot can be left to trade independently 24/5 once configured correctly. The higher risk nature of this robot also means traders should be cautious with position sizing and risk management.
Costs and Pricing
WallStreet Recovery Pro is sold through the developer’s website for a one-time fee of $297. This includes:
- License for the WallStreet Recovery Pro software
- Installation guide and user manual
- Access to customer support and software updates
There are no additional fees or commissions for using the robot. Traders only need to pay spreads and commissions to their broker as with any other trading.
Considering the potential profitability of the software, $297 is a reasonable upfront cost. The developers also offer a 60 day money back guarantee, allowing traders to test it risk-free.
The Pros and Cons
Pros of WallStreet Recovery Pro:
- Proven automated trading strategy
- Unique recovery trade system
- Long track record of backtested results
- Works on multiple currency pairs
- Easy to install and use
- Reasonable one-time purchase cost
- Higher risk compared to original robot
- Requires effective risk management
- Traders with small accounts may struggle
- Requires MetaTrader 4 platform
For traders comfortable with the risks, WallStreet Recovery Pro offers an intriguing and profitable trading solution. But caution is still required when using this higher risk robot.
In conclusion, WallStreet Recovery Pro provides an impressive automated trading system optimized for higher reward/higher risk Forex trading.
The pros include the long backtested track record, automated strategy, and innovative recovery trade system. The cons are the higher risk nature and need for risk management.
For traders looking to aggressively capitalize on Forex market movements, WallStreet Recovery Pro is one of the top Forex robots available today. The $297 price is reasonable given the profit potential.
Overall, WallStreet Recovery Pro scores highly in our review. The combination of proven results and automated trading makes it a leading option for serious Forex traders aiming for amplified profits.