Waverunner Forex Robot uses the zig zag theory to identify automated pips. As per the vendor, the automated system has generated $57,953 in 2022 so far and $34,710 in the last 30 days. This ATS does not need manual intervention for finding accurate trades. It works on all timeframes but provides the best results when the M30, H1, and H4 timeframes are used.
To buy this FX robot, you need to pay $49. The original price of the system was $199 which has been reduced to $49 after the vendor has offered a 75% discount. We could not find details on the features included in the package. There is no money-back guarantee present for the product which raises doubts regarding its reliability.
Waverunner Forex Robot trading strategy
It uses the advanced Elliott Wave Theory for identifying the market peaks and bottoms. As per the vendor, the system also uses the Zig Zag indicator for identifying sharp declines that result in price level correction of a previous impulse sequence. The vendor claims that this FX EA can find the market peaks and bottoms based on the two methods and the advanced calculations made by the robot. It uses SL and TP levels and the timeframes of H4, H1, and M30 for a good risk to reward ratio. An average SL of 60 pips and an average TP of 150 pips per trade are used by the system on the H1 timeframe.
Waverunner Forex Robot features
Some of the key features that make this FX robot competitive as per the vendor are:
- It works on all currencies and timeframes.
- It is compatible with the Metatrader 4 application.
- The MT4 tool works automatically on 4- or 5-digit broker pricing.
- A manual option for closing the trades is present.
- For complete transparency, a custom indicator is drawn on the robot’s chart.
- An optional trailing SL is integrated into the system.
- It uses an inbuilt money-management system.
- Users can adjust settings like price types, moving average, color object, and text.
Waverunner Forex Robot backtesting results
No backtesting results are present for the system. The vendor fails to provide strategy testing reports which make it difficult to analyze the efficacy of the approach used. It is true that backtests cannot predict the future performance of an FX EA. However, they are important for knowing about the approach and getting a better insight into the system.
Waverunner Forex Robot live trading results
No verified trading results are present. But the vendor provides monthly performance reports. Here is the report for February 2022.
From the above stats, we can see that the system has generated a total net profit of 20,229. For a total of 202 trades, the profitability of 75.25% and a profit factor of 4.66 are present. The maximum drawdown for the account is 0.01%. From the stats, it is clear that the account has grown steadily and profits are high with the low drawdown indicating minimal risk. However, since the report is not verified by a reputed third-party site like myfxbook or FXBlue, we are unable to do a proper evaluation.
Waverunner Forex Robot reputation
The Forex Robot Trader is the company that develops and promotes this FX robot. Don Steinitz is the founder of the company. He and his team of expert programmers have created several other systems besides the Waverunner. Odin, Vader, Falcor, Ganon, etc. are the other products of the company. We could not find further details on the company. The vendor does not provide info like founding year, location address, phone number, etc.
We found 270 reviews for the Forex Robot Trader company on the Forexpeacearmy site with a rating of 2.262/5. Here are a few of the recent feedback:
As per the user testimonials, we can see that users are not happy with the product. The feedback indicates that the products of the company are not working and produce big losses. The users complain about poor support and ineffective performance.
Waverunner Forex Robot review summary
- Strategy – 4/10
- Functionality & Features – 4/10
- Trading Results – 3/10
- Reliability – 5/10
- Pricing – 7/10
Waverunner Forex Robot claims to provide a solid track record for ten years. While the trading stats provided in the monthly performance report look good, they are not verified results. We prefer stats that are verified by a reputed third-party site like Myfxbook, FXBlue, or FXStat. Further, the lack of backtests, negative user reviews, and the absence of a money-back guarantee are other downsides you should consider while purchasing this FX robot.
