Analysis of the Waka Waka EA
Table of Contents
For this analysis I will take the 2 tutorials, I made for this purpose. There will also be additional criteria that I did not put on the tutorials, because they are not important.
Analysis Criterion and Strategy test analysis.
I would like to emphasise that it is your responsibility to purchase the product, you will have 7 days to withdraw and be reimbursed. Gains and losses are not the author’s responsibility, all the criteria to avoid a bad decision are present, it’s up to you to be careful.
As explained in my tutorial, I will start by preparing my backtest on the Metatrader 5 software by downloading the demo.
Waka Waka EA is made by Valeriia Mishchenko, this EA uses grid and martingale system. It also uses AUDCAD, NZDCAD and AUDNZD pairs which are known to work well with reverse systems, several authors provide a similar trading system, but with differences. In this case, the EA uses filters on market news.
The EA does not meet the criterion, which is why the analysis will be different from the classic template.
I just wanted to test the EA in the maximum period with a start of $10,000 and leverage at 1:500. I left the default settings.
As said in the introduction there is a grid and martingale system, which means that the profit factor and sharpe ratio figures are distorted.
There are different ways to control the batch size. Choose from this drop-down list.
The test over the entire period is satisfactory, there is no big drawdown but we must not forget that the grid and martingale systems are dangerous. It is recommended when you use this kind of EA to withdraw regularly, hoping to save your initial investment quickly.
You are not immune to your account balance being at 0 in just a few hours if the market is not in line with Waka Waka EA.