WallStreet Recovery PRO is similar forex robot as WallStreet Forex Robot 3.0. Both robots trades the same way but they manage the opened trades differently. There are differences in the robot's settings as well.
This expert advisor works as follow - if the initial trade is not closed and when the price moves away with X pips loss then the EA may open one or more, depending on the currency pair, additional trades with larger lots size. In this manner, the robot will compensate the loss from the initial trade and all the trades will be closed on overall profit. We recommend you to use WallStreet Recovery Pro on EURUSD andb GBPUSD pairs. Of course, you can trade on other currency pairs as well - EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF,USDCAD and NZDUSD - the robot has predefined settings. In case, you want to run it on other unsupported pairs then you have to run your own optimizations.
It is highly recommended to start trading on a demo account before you switch to real-money trading. We do not recommend using WallStreet Recovery Pro, if you are not fully aware and ready to accept the greater potential risk.
However, if you decide to use WallStreet Recovery Pro, we do not recommend risk greater than 1% for the initial trade (0.1 lot per 10,000 account), or AutoMM=1.
In case, you want to make your own experiments with WallStreet Recovery Pro settings then we could give you some tips and recommendations. A combination between very low value of AutoMM 0.5-1, MaxRecoveryTrades 3-5, RecoveryAfter 200-500 and Recovery MMC 1-3, could provide great long-term stability of the system.
Due to trading logic of these two forex robots they don't use any time restrictions. Therefore by default you don't need to make any changes related to the GMT offset. But if you want to enable and use the News filter integrated in these forex robots then you have to make sure that the settings for GMT offset are correct. Here are the settings related to the GMT offset.
Since WallStreet Recovery Pro's trading logic does not include any time restrictions, it is not required to set up GMT Offset parameters. Therefore, you do not need to make changes in teh robot's settings about it. However, if you enable News filter then it is required to make sure the settings for GMT Offset are correct.
Please note that depending on your country, VAT may be charged on package prices. VAT rates vary across countries.
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