Daily Waves EA Review Update: The bot scammed hundreds of traders with false signals.
NB: The best EAs are those tested in the real market by day traders.
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The creator of Daily Waves EA says they built the software to help make the life of a trader easier. The developer first published this trading robot in December 2017.The last update happened in August 2018 when the developer released version 1.7 of the EA. This is good news because when a developer is frequently updating the software, it means they are concerned with the welfare of the trader, and want to patch any problematic areas that may be preventing the software from performing to its optimal level. In addition to this, developers who update regularly tend to provide buyers with long term trading solutions in the market.
We have investigated the publisher of the software and discovered that it is owned by Luis Alejandro Diaz Vidal who lives in Spain. This developer has been trading on a live account since 2009 and has also been creating robots for trading since 2014. We are not sure why they decided to create a robot for trading. They could have provided the best service if they opted for a signal service for instance.
Anyway, whatever route they have decided to take, our job is to reveal the end product. To get in touch with this trader and developer, users can talk to them on Skype or on their MQL5 profile. This is yet another MQL5 software, and generally trading robots that are sold on this platform tend to be pricey. So if you want a cost effective trading solution that performs well and does not drain resources upfront, we suggest that you consider using these robots.
The way Daily Waves expert advisor works is that it times the Tokyo session before opening a series of trades. These trades are managed in terms of risk using the built in intelligent risk manager. The settings of this feature can be manipulated by the user. The developer says that for best results to be realized with this robot, we should invest with brokers who don't publish Sunday candles. In addition to this, we should ensure that they are using GMT+2 timezone.
According to the information which the developer is giving concerning this robot, we tend to think that the robot is quite complicated and does not work right out of the box unlike the trading solutions which we have recommended above. The configuration process for the Daily Waves robot could be complex. However, there is some explanation that Luis has given to show us how the robot works and what trading methodology it is using. He tells us that the robot uses a solid pattern-based Forex trading strategy. He claims that this strategy has been successful since 1993. This strategy allegedly does not depend on scalping or Martingale style of trading. So it is supposed to be safe and profitable at the same time. Also, he claims that unlike other expert advisors in the market place, users of Daily Waves do not require a fast VPS to trade efficiently.
The Daily Waves EA trades EURUSD pair only. The robot is built in such a way that it uses low amount of parameters with a maximum daily risk. What this means is that users will have very little control over how the robot trades. But this is not a bad thing.
The Daily Waves robot has been priced exorbitantly at $30,000 per license. If you thought this is a joke, search the profile on MQL5 platform and you will see that this is the correct pricing for the license. However, there is the option of renting the Daily Waves EA which is quite affordable but again very expensive compared to these Forex robots which are much more affordable and effective.
The Daily Waves Forex robot can be rented for $33 per month, $89 for 3 months, $175 for 6 months and $349 for a year. The good thing, however, is that the developer has allowed us to test the robot for free on a demo account before making up our mind to buy. So we suggest that anybody who is interested in this robot must test it. However, if testing is time confusing (because it can really consume your time indeed), our suggestion is that you should click the link above and purchase any of the robots in that list.
The Daily Waves is an interesting robot because despite the upfront price of the EA, the developer does not provide us with a myfxbook account. Instead, they are showing us the software on the chart and a few back test samples.
In addition to this, we have also realized that the developer is selling a signal service on their MQL5 profile. They are providing a link to that signals service and providing us with some trading results to back their alleged ability.
In the signals service, they show us that Daily Waves EA took 7 trades in total and won all of them. It made a profit of €66 out of an initial deposit of slightly below €400.
Now, the software's price for a year is $349. The vendor does not prove to us with evidence that we can make profits that will recoup the price of the software in question. What this simply means is that many traders will not take them serious if they can't produce any form of proof. We must wait to see how this will end.
Daily Waves EA looks like a serious expert advisor to try given that it is priced exorbitantly. However, without some proof that we can make money, this developer can't be taken seriously. In other words, we will need to wait for a while to see what other traders will say concerning this system. Since many people haven't tried it yet, the best thing to do would be to stay put until we have seen what the community in saying in general. If response is good, we will recommend it. For now, just stick to these trusted robots.
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Im the creator of Daily Waves, and I must say I didnt provide you any demo you to try on DEMO first, that a blatant lie, also I dont aprecciate that you put the scam near my EA without giving any fact that could relate the w**d scam with my product, the only thing you have said its that price is expensive and that people that read this website should by this other bots…