Waverunner Forex Robot claims to have generated a profit of $55,914 so far this year. The vendor claims that it has a solid track record spanning more than ten years. On the official website, the vendor has shared some performance statistics and a few screenshots of trade setups. We have a brief description of how the EA functions, along with a list of features and pricing details.
Forex Robot Trader is the name of the parent company behind this EA. It is the brainchild of Don Steinitz, an American gambler turned trader who works with MQL programmers. We don’t have the details of the team members and there is an overall lack of transparency. Other robots from this team include Odin, Vader, Ganon, Falcor, etc.
Features
This robot works on all Forex pairs and timeframes. You can run it on MT4 charting software. It works with a 4/5 broker digit pricing automatically. With this EA, you get custom indicators and templates. However, the vendor has not mentioned what these indicators are.
The user can manually exit any trade without causing any disruptions to the system. This EA has optional trailing stop loss capabilities built into it. It also has automatic money management, which means it is capable of calculating the lot size automatically based on the account balance.
You can adjust the EA inputs to suit your trading style. These include the moving average modes and the applied price types. You can also adjust the text and color objects. The robot claims to find automated pips in the market using a unique combination of Zig Zag theory and Elliott Wave theory. Zig Zag patterns consist of sharp declines correcting the price level of the preceding impulse sequence. On the other hand, the Elliott Wave theory involves monitoring and identifying wave pattern repetitions.
How to start trading with Waverunner Forex Robot
You can currently purchase this robot for the price of $49. The original price is $199, but the developer is currently offering the robot at a 75% discount. Compared to other Forex robots on the market, this is extremely cheap. However, there is no mention of a money-back guarantee, so you won’t get any of your money back, even if the EA does not work out for you.
Waverunner Forex Robot works on all timeframes, but the vendor recommends loading the EA on charts for timeframes like M30, H1, and H4. According to them, these timeframes provide the best risk/reward ratio. The EA uses take profit targets and stop losses. For the H1 timeframe, the average stop loss is 60 pips while the average take profit is 150 pips per trade. The EA uses complex calculations to pick market tops and bottoms.
Backtests
It is a common practice for EA vendors to backtest their automated strategies using archival data. Unfortunately, the vendor has not shared the backtesting data for this system. Thus, we have no idea about its long-term performance. Also, we cannot draw a comparison between the backtest and the live statistics.
Unverified trading results of Waverunner Forex Robot
There are verified trading accounts for this Forex robot on third-party websites. Here we have the results for February 2022. In this month, the EA conducted 186 trades, winning 74.19% of them and generating a total profit of $18190.50. Apart from the high win rate, the EA also has an impressive profit factor of 4.66.
The relative drawdown was extremely low at 0.01%, which indicates a low-risk strategy. There have been 28 maximum consecutive wins and 5 maximum consecutive losses during this month.
Here we have the recent trades presented in tabular format. We can see various parameters like trade type, size, stop loss, take profit, opening time, closing time, opening price, closing price, commission, taxes, swap, and profit.
Customer reviews
At this moment, there are no user reviews for this expert advisor on third-party websites like Forex Peace Army, Trustpilot, Quora, and Myfxbook. This tells us that not many people are currently using this system to conduct trades.
Is Waverunner Forex Robot a viable option?
Advantages
- Extremely cheap robot
Disadvantages
- No verified trading results
- No money-back guarantee
- No customer reviews
Waverunner Forex Robot is a cheap automated trading system that promises steady profits. Nevertheless, we cannot verify the vendor’s claims, since there are no trading statistics that show us the real-time performance of the system. Also, there are no user reviews for the robot on third-party websites.
