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Business / Finance

Wall Street Bot or “how to milk hamsters on Forex with the help of the Monkey”

Portal Forex trader 17.03.2019 at 10:55

Forex trading strategies, expert advisors, indicators, video training trade

Hello friends Forex traders.

Today we will talk about WSB Wall Street Bot — forgery under famous Advisor Wall Street Forex Robot. Sellers WSB robot just renamed free Advisor, slightly optimized and pushed to unsuspecting beginners. It would seem, anything interesting, there are dozens of these scams every month. But then the guys moved PR boundaries. It got to the point that even quite intelligent traders asking about this podeli. So today — overview WSB Wall Street Bot (not to be confused with the original from FX Automater).

the Forex market is a constant and inexhaustible source for a "food" variety of clever rogues living by the precepts of Ostap Bender. This helps them aggressive advertising "easy money" on currency speculation from brokers, and high demand among the newcomers for the services of "How to become rich right now, doing nothing".

the Idea is to make money out of suckers as old as the world – created the next training course or supersniper strategy based on free, widely-used principles of trade, and sold to the thirsty five days to learn trading in Forex. This sustainable model of fraudulent earnings even got its own slang called "coloring" uniting any useless knowledge about trading with the purpose of earning and not learning traders.

Among near-market guru is also high competition, so you need a large promotion costs. There is a risk that investments can not be justified, as the growth in the number of "merged" trained traders wave of negative reviews and accusations of quackery will grow.

as a result coaches who will not be able to respond to multiple claims personal, real achievements in trading can go into oblivion, ruined, while not one hundred adherents, followers.

the First 19 years of this century have changed the "face" of the trading and Colorino increase in the percentage of automation. Novices no longer afraid and surprised by the use of trading robots because of the development of gadgets. However, with the advent of algorithmic trading has simplified the business of okololegochnykh.

more recently, scammers have found a way not to complicate your life by learning the basics of trading and subsequent long processing beginners knowledge. Grafting future traders trading skills requires proper teaching and training, but you can build near-market business much easier.

Wall Street Bot — mimicry, or the recipe for a successful business

In the middle of the 2018 team has not designated persons decided to use the idea of selling extra profitable robot. Based on "machines for making money" was taken by the algorithm with ohotnika Trio Dancer described on our website and distributed via the Internet absolutely free.

To successfully promote the Scam and "could not sleep" on the code, after minor changes of the algorithm, the developers "hid under the roof" of the brokers under the guise of "big names and brands" while promoting "miracle robot" through affiliate programs.

According to insider information, "the founding fathers" — it's three people living in Central Russia. The team is working smoothly, the weakness of the "encoder", which can not reach the optimal settings and complete automation of the trading algorithm, is covered with an unusual approach to aggressive marketing and active development of the partner network.

Partners shoot a similar video:

Here are examples: one, two, three.

Really there are so stupid people, that leads to such "evidence" of success ? Apparently there is...

is responsible For this direction of the person using the "promotion casino style". The robot named Wall Street Bot is almost identical to the successful product of the company Fxautomater. Developed by its programmers Advisor Wall Street Forex Robot has a lot of positive feedback, which repeatedly published on the discussion forums in the Russian segment of the Internet. The developers are copying not only name, but and updates, releasing new versions with almost the same numbers. Why the authors of the original has still not condemned the clown on the Bank, still not clear. Maybe next time.

Wall Street Bot distributed marketing network, through the "key" representatives who sell the robot for about 20 thousand rubles. The high price of "justified":

"Guaranteed", frequently unsubstantiated, daily earnings; Opportunity to earn on the resale of another "simpleton"; "Lifetime" earnings on commissions of the attracted referrals; Promise "to give money" in trust. Duplex kidok in the style of Wall Street Bot

Wall Street Bot is a relatively young project, wave spam distribution is just beginning to gain momentum. The organizers have opened Youtube and Telegram channels, three affiliate website, two "ground" points (Moscow and Ufa), the two groups Vkontakte and try to open a representative office in Kazakhstan.

the Target audience is beginners, the time matched perfectly. People are hungry for earnings and splurging on the recent topic of cryptocurrency, wants to take revenge on the "traditional" currency speculation, or to try to trade Bitcoin with Wall Street Bot.

the Problem is that they propose an algorithm martingale, "breakeven" which is based on the averaging of damages with the constant increase in the size of the transaction. The strategy works until the first recoilless trend. Looks like "flight of the hamster on Wall Street Bot", you can see in the picture below:

martingale strategy, born of gambling: the player increases the bet, hoping that every loss brings the possibility of "victory", and grew up to this point, the bet will cover the loss. The Forex market is not a roulette, the pulse rise or fall may lead to increase of the gross loss multiplied by a constant increase in position. This is demonstrated by the results of another adept Wall Street Bot, "parasiteware" loss for the first time, and ruined in the second case, because of the many open orders.

Such examples of dive start quite a lot, but complaints on the Internet yet, thanks to the "two-tier system kidka", — follow the logic:

the Buyer immediately warn that no one will teach the beginner the basics of trading (for an explanation of the Seller – there's no time); user unload many independent settings, the meaning of which is messy due to once; After discharge of the Deposit novice (for a fee) offer to transfer funds in the management of, and to seek referrals.

in Fairness, it should be noted that the team is trying to recruit managers from followers who were able to hold in positive territory, using money management and continuously optimizing the settings.

the rest of the developers are trying to avoid bankruptcy customers not optimizing the settings of the robot or the power martingale, and the publication of advice like:

turn Off the robot manually; Delete the part of the trading pairs; do Not trade on certain days (etc).

Given the imperfection of the robot and the lack of evidence for the existence of at least one not fused for half a year account, it's safe to assume that money given to management, will disappear, like the lost client's first Deposit.

Why Wall Street Bot Scam?

the makers of the robot is introduced to mislead users by claiming on websites and in advertising that the robot always makes. Marketing focuses on finding customers among those who are not familiar with the Forex market and has no idea how dangerous tactics of more losses on the martingale system.

Speaking with numerous sellers Wall Street Bot has identified financial illiteracy, lack of basic knowledge of technical analysis understanding what is incorporated inside the robot, but, nevertheless, they are ready to provide "technical support".

After starting the robot the user is faced with a whole list of recommendations for "support" in the plan:

to adjust the time of work; "Manual adjustment" timeframe, Deposit, etc.

In the result, instead of the promised "quiet observation of the process of making money," beginners who invest more than $1000 must constantly do on your trading platform action, 90% of which to them seem like mystical rituals.

Conclusion

Wall Street Bot and similar projects – not a new type of threat to the Forex market, the commercials in 2012 was a project vsignale and a couple of dozen-hundreds like him. If carefully and competently approach to the creation and dissemination of EAS on the basis of the martingale, the network business can survive for several years, gaining many customers and followers who have invested, in aggregate, a lot of money. But the only monkeys to control — also need a lot of skills and knowledge. And their marketers are usually not very much.

A strategy to increase the Deposit to "recapture the losses," in a mass execution can lead to huge losses and scandal, as it was in history Stanislav Chuvashov, described in the review of PAMM-accounts for the first quarter of 2019.

Wall Street Bot Creators used the tactics of advertising of guaranteed automatic income on the Forex market. It is somewhat a new theme, very similar to many available in 2017, Bitcoin bots, whose creators also promised customers investment income from speculation.

This flow of advertising is not a priori provides for fixation losses on transactions and, therefore, the adviser will, by definition, sold with built-in power of martingale. With all the imperfections of the ideas she lives for six months, the community has several thousand followers, open up subsidiaries that distribute the "robot" from fixed points. Naturally, they will find a sink.

PS for those who crave to download EA — download the original, there is no errors in the code, which may contribute to the sink.

With respect, Alexey Vergunov

TradeLikeaPro.ru