Mood EA Review

Nov 19, 2021 01:05 PM ET
Mood EA Review

Mood EA is an FX Robot developed by Vasiliy Strukov. It uses the Momentum indicator for identifying trade entries and exits accurately. For entering orders, the ATS capitalizes on the overbuy or oversell indicator conditions and grabs the mood of traders. The developer does not reveal much info on the FX EA. 

From the profile info on the MQL5 site, we find the developer is based in Russia and has two years of experience in the industry. He has created 16 products and 7 signals. There are no further details on the developer. We cannot find a location address or contact number. To contact the developer the message board on the MQL5 site can be used or via the website link provided on the profile page. 

Mood EA

Type

Fully-automated EA

Price

$149

Strategy

Momentum indicator

Compatible Platforms

MT4/MT5

Currency Pairs

Multiple pairs

Timeframe

N/A

Recommended Min. Deposit

N/A

Recommended Deposit

N/A

Leverage

N/A

Trading strategy explanation

Other than mentioning the use of the momentum indicator we could not find much info on the strategy. The lack of strategy details raises a red flag for this EA. A list of settings is provided by the developer which includes info on the use of a hedge account. 

Money management, lot multiplier, TP, SL, DD reducing algorithm, and more. We find the lack of transparency in the features and recommendations for this EA suspicious. The failure of the developer to reveal even the basic details of the system makes us suspect this is not a reliable MT4/MT5 tool.

Backtest data analysis

Backtesting report of Mood EA.

A backtesting report is present on the MQL5 site. From the screenshot shown above, we can see the backtesting had generated a total net return of 3521.91 for an initial deposit of 500. For a total of 1600 trades, the profitability was 68% and the profit factor was 1.99. 

A maximum drawdown of 67% was present for the account. From the high drawdown and low profits, it is clear that the approach is not effective. Further, the test does not reveal info like the duration of the test, the modeling quality, and other relevant info.

Live trading data analysis

Trading results

MQL5 signal

Demo (USD), RoboForex

Started

November 02, 2021

Deposit

$1000

Balance

$6651.17

Gain

565.12%

Daily

N/A

Monthly

565.12%

Drawdown

75.3%

Profitability

66.5%

A live demo account is present for this FX EA on the MQL5 site. Here is a screenshot of the trading results for the account that started on November 2, 2021.

Growth curve and trading stats of Mood EA.

From the above trading stats, we can see the demo account uses a leverage of 1:2000. A total of 12 trading days is present for the account with an average of 97 trades per week. For an initial deposit of $1000, the account has generated a profit of $5651.17.  

Profitability is 66.52% and the profit factor is 5.59. A maximum drawdown of 75.3% is present for the account which is very high and indicates high risk. Further, the high growth percentage of 565% also points to a high-risk strategy. With such a high drawdown in a short trading span, you can lose your entire capital.

Pricing

Pricing package of Mood EA.

You can purchase this FX EA for $149. A free demo account is offered by the developer. We could not find further info on the features available with the package. There is no money-back guarantee present which raises suspicion on the reliability of this EA. When compared to similar expert advisors in the market, we find the price is not expensive. However, considering the risky approach used by the FX robot as seen in real trading results, we find it is not worth the money.

Customer reviews

There are 51 reviews for this FX EA on the MQL5 site with a rating of 5/5. The high rating is not surprising. As the MQL5 site promotes the product, there is a high chance of the reviews being manipulated. We prefer feedback from reputed third-party sites like Forexpeacearmy, Trustpilot, etc. These sites provide an unbiased perspective of the performance, support, and other relevant details of a trading tool. The lack of reviews makes us suspect this is not a reliable product.

Review summary

Pros

  • Fully automated system

  • Price is affordable

Cons

  • The strategy used is not disclosed

  • High drawdown indicating a risky approach

From our evaluation of Mood EA, we can see this FX Robot uses a high-risk approach that can put your capital at risk. While the developer provides backtesting and demo trading results, the stats reveal a high drawdown that makes this an unreliable product. Further, the lack of strategy disclosure, insufficient info on the features and recommendations, the absence of feedback, and no refund offer are downsides that confirm the unreliability of the EA.

Rating: 4/10


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