Introduction to the Wolf Expert Advisor
The Wolf Expert Advisor (EA) is an automated forex trading robot designed to trade the EURUSD and USDJPY currency pairs on the 1-hour timeframe. It uses a scalping breakout strategy to identify potential entry points and take quick profits from small market movements.
Features of the Wolf EA include:
- Fully automated trading, requiring no manual intervention
- Works with market or pending orders
- Incorporates strict stop loss management to protect every trade
- Uses an advanced algorithm to track, modify and close positions
- Can trade with fixed lot sizes or auto-calculated lots based on account balance
In this comprehensive review, we will cover everything you need to know about the Wolf Expert Advisor, including:
How It Works
We’ll explore the trading logic and built-in safeguards that enable the Wolf EA to potentially generate consistent profits.
Backtests and Forward Tests
We’ll analyze detailed backtesting reports over 16+ years of market data to validate the EA’s profitability.
We’ll review real-world trading accounts using the Wolf EA to demonstrate actual results.
Settings and Optimization
We’ll break down all the key settings and provide optimization advice to improve performance.
Pros and Cons
We’ll highlight the main advantages and potential limitations of using this automated trading system.
And much more! Let’s dive in…
How the Wolf Expert Advisor Works
The Wolf EA is designed to capitalize on short-term price movements using a scalping strategy. It works by identifying potential breakout points in the market, entering positions quickly, and closing trades as soon as profit targets are reached.
The entry logic consists of two main components:
- Adaptive Price Action Analysis – Proprietary indicator that detects periods of market consolidation followed by increased volatility. It then predicts the likely breakout direction using complex algorithms.
- Volatility Analysis – Calculates current market volatility and only takes trades when volatility spikes above a predefined threshold. This avoids slow trading conditions.
Once a potential entry point is identified, the EA will immediately place a pending buy stop or sell stop order 15-25 pips from the current market price. This small buffer protects against false breakouts while still capturing a major portion of the impending market move.
After entry, the trade management system takes over with multiple layers of protection:
- Initial stop loss placed 20-30 pips away
- Break-even stop triggered shortly after entry to lock in profits
- Trailing stop trails price action to secure any additional gains
- Multi-step take profit levels close portions of the position at different price points
Thanks to these built-in safeguards, the risk on each trade stays tightly controlled. At the same time, the EA aims to let profitable trades run as long as possible to maximize potential profits.
This combination of adaptive analytics to find high-probability entries coupled with robust trade management is what gives the Wolf EA its edge.
Next let’s analyze some backtest reports to see how this logic performs over extended periods of historical market data.
Wolf EA Backtest Results
Extensive backtesting provides crucial insight into any trading system’s viability. By replaying price data from past years and decades, we can gauge an EA’s profitability across a wide variety of market conditions.
The Wolf EA developer has published backtest reports spanning 16+ years of EURUSD and USDJPY price history.
Key backtest settings:
- Instrument: EURUSD and USDJPY
- Timeframe: H1
- Period: 2003-2019
- Model: Every tick
- Spread: 10 points
- Total net profit: $760,000+
- Max drawdown: Less than 20%
- Profit factor: 5.3+
- Profitable months: Over 70%
These stellar results across over 195 months of combined backtesting demonstrate the Wolf EA’s resiliency in the face of ever-changing market dynamics.
The table below summarizes the trade-by-trade performance over the 16-year period:
With a high percentage of winning trades, sizable average profit per winner, and small average loss size, it’s no surprise the Wolf EA was able to accumulate so much profit over such an extended period.
Now let’s analyze the live trading results to confirm whether actual performance matches these simulated backtests.
Live Trading Results
Seeing is believing when it comes to forex EAs. While backtests provide an indicator of viability, real-world trading results confirm whether an EA can deliver consistent profits month after month.
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Below are two live accounts currently trading with the Wolf EA:
- Broker: Exness
- Start Date: September 2021
- Start Balance: $20,000
- Current Balance: $29,350
- Percent Gain: 46.75%
- Trades: Over 800
- Drawdown: Under 10%
- Broker: IC Markets
- Start Date: December 2021
- Start Balance: $3,000
- Current Balance: $4,280
- Percent Gain: 42.67%
- Trades: Over 240
- Drawdown: Under 5%
These real-money trading accounts confirm the Wolf EA’s ability to consistently extract profits from the market. Key takeaways:
- No overoptimization – Consistent gains across different brokers, account sizes and time periods indicates robust underlying logic.
- Low drawdown – By capping losses on each trade, total account drawdowns remain reasonable.
- High winning percentage – Over 75% profitable trades by primarily entering in the direction of dominant trends.
- Fully automated – No manual intervention needed, allowing hands-free trading.
Now that we’ve seen proof of efficacy, let’s take a closer look at optimizing the inputs for maximum performance.
WOLF EXPERT ADVISOR Settings and Optimization
The Wolf EA comes packed with over 25 adjustable parameters across three main areas:
- Trade Management
- Money Management
- Time Management
While default settings work well, optimization can enhance outcomes.
We’ll break down the most crucial inputs and provide advice on fine-tuning values for your account.
Trade Management Settings
These parameters control entry logic and trade exits.
- TakeProfit_II – Second take profit level. Raise to lock in more profits once in the money.
- TrailingStop – Trailing stop distance. Can increase to give trades more room to fluctuate.
- BreakEvenStop – Break-even level where stop is moved to entry price. Lower to lock profits faster.
Money Management Settings
These settings determine position sizing for each trade.
- FixedLot – Lot size per trade with fixed percentage. Adjust based on account size and risk tolerance.
- MaxSpread – Maximum spread to enter trades. Can raise on ECN accounts with lower spreads.
Time Management Settings
These inputs control trading sessions and schedules.
- CloseFriday – Number of hours before Friday close to stop trading. Useful to limit exposure before weekends.
- StartHour – Hour of day to start trading. Can optimize for more favorable times.
In summary, the Wolf EA is very customizable to each trader’s preferences. Play around with different input values and use backtesting to quantify the impact on performance.
Now let’s summarize the main upsides and potential limitations.
WOLF EXPERT ADVISOR Pros and Cons
- Proven long-term profitability via backtests over 16 years
- Actively traded on live accounts with consistent real-money results
- Over 75% win rate with average winner much larger than average loser
- Incorporates multiple trade safeguards for risk management
- Highly customizable settings for optimization
- Suitable for both experienced and novice traders
- Requires ECN forex broker with low, fixed spreads for best results
- Designed for EURUSD and USDJPY only
- Individual results can vary depending on account size, risk management etc
- Requires monitoring and input tuning for maximum profitability
So in summary, while the Wolf EA requires some effort to implement properly, doing so can provide a hands-off source of trading income for years to come.
WOLF EXPERT ADVISOR Conclusion
The Wolf Expert Advisor provides traders with an automated solution for potentially generating regular profits from short-term forex market movements.
Extensive backtesting over 16+ years and real-money trading results validate the underlying trading logic and demonstrate the EA’s efficacy across different market conditions.
By incorporating robust risk management on every trade, traders can feel confident using the Wolf EA knowing their account is protected from excessive drawdowns. At the same time, keeping losses small while letting profits run allows for significant cumulative gains over weeks and months.
With some input optimization, appropriate account funding and a compatible low-spread ECN broker, the Wolf Expert Advisor provides an appealing option for hands-free trading income.
So in summary, for traders looking for a stable and thoroughly-tested automated trading system, the Wolf EA hits all the marks. Give it a try and unleash the Wolf!