WallStreet ASIA is one of the best Asian session scalpers (forex robots) in the forex market. Although it comes with the default settings which are good we can make a little bit additional configuration and improve its overall performance.
In this article we will explain how to improve WallStreet ASIA's performance by touching only a few parameters.
Just to note that these tips and tricks are already explained in the Recommendations page in WallStreet ASIA official website. So they are not something new but we guess some users don't know about them. The idea of this article is exactly to show to users these tips and tricks. Continue reading below to learn how to improve WallStreet ASIA performance in 3 steps.
1. Let WallStreet ASIA trades on every tick.
There is a parameter called TicksTrade. By default this parameter is FALSE (disabled) because WallStreet ASIA is developed to check for trading opportunities on M1 bar closing. All optimizations and tuning we made are based on M1 bar closing. This strategy is good, tested and proven over time. But sometimes in real conditions checking for trading opportunities at every tick could be better. Our tests in real conditions showed that TicksTrade=TRUE also shows very good results and sometimes even better.
However, the TicksTrade mode could provide very aggressive and profitable trading, but this depends greatly on the broker's trading conditions.
2. Avoid Monday morning gaps
As everyone knows, keeping the trades open during the weekend is risky due to big Monday morning gaps which may lead to big losses. To avoid such big losses you can configure WallStreet ASIA to stop trading on Friday evening and on Monday morning. This can be easily done by the following parameters: MondayStartHour, FridayExit, LastTradeHour and ExitHour. Below you can find an example:
For more secure trading you can use the above settings!
3. Optimize MaxDailyRange parameter
Here is the official explanation of MaxDailyRange parameter in the user guide of WallStreet ASIA:
MaxDailyRange: If the daily bar height is greater than MaxDailyRange value the robot will not open a trade.
This parameter is kind of an additional filter for better results. The default value of this parameter is 35. Which is good. But we have made some optimizations and we have found some interesting values for different currency pairs. Actually these values can be found in the Recommendations page on our website. Here are these values:
MaxDailyRange recommended values are:
In case that you don't want to use this parameter you can disable it by setting some big value such as MaxDailyRange=1000.
As we said this is a kind of an additional filter. You can use it or just disable it. Do your own optimizations and decide whether to use it or not.
IMPORTANT: The above tips and tricks work well. But they are not enough to get good results. Good results may be achieved with good broker conditions. If your broker is a mediocre one that uses various tricks to cheat you, no matter what optimizations you are doing, you may not get good results. Open your eyes and if you detect such a broker switch to another one.
We hope you find this article useful. If you have any questions about the above tips and tricks don't hesitate to contact us.