Waka Waka EA Review

Oct 7, 2021 08:20 AM ET
Waka Waka EA Review

Waka Waka is a trading advisor that has been existing for several months. It was published in the mid of August 2021. Since then, there have been many updates applied. The current version is 1.96. It gets some attention from the community - 1373 demo downloads occurred. 

Waka Waka EA

Type

Expert Advisor

Price

$549

Strategy

Grid

Compatible Platforms

MT5

Currency Pairs

AUDCAD, AUDNZD, and NZDCAD. 

Timeframe

M15

Recommended Min. Deposit

$1000

Recommended Deposit

$6000

Leverage

1:100

Trade length

24 hours

Trading strategy explanation

Let’s talk about details that we could manage to find and group up in the following list for your comfort. 

  • The advisor can work automatically on a terminal for us. 

  • There’s a live track record provided by the dev. 

  • The MT4 version is also available. 

  • There’s a single copy left from ten for $549. 

  • The next price will be $599. 

  • “Waka Waka is the advanced grid system which already works on real accounts for years. Instead of fitting the system to reflect historical data (like most people do), it was designed to exploit existing market inefficiencies.”

  • It uses market mechanics to be profitable. 

  • We can work with AUDCAD, AUDNZD, and NZDCAD. 

  • The time frame is M15. 

  • It has a “One Chart Setup” feature. 

  • It adjusts GMT offsets for us. 

  • The system is simple to use. 

  • The advisor has an affordable offer. 

  • The robot is already updated. 

  • We are informed that the system is not sensitive to spreads and slippage. 

  • We have to use it on the ECN broker. 

  • A VPS service is a good option for this robot. 

  • The leverage should be from 1:30. 

  • The low-risk accounts require $6000. 

  • The medium-risk accounts need $1000 and 1:100 leverage. 

Backtest data analysis

Waka Waka EA’s backtest report.

Waka Waka EA’s backtest report.

The robot was tested on the mix of pairs AUDCAD, AUDNZD, and NZDCAD. It has 100% historical quality. An initial deposit of $1,000. The total net profit has become $5,055,039. We see the profit factor was 2.21. The maximum drawdown was 9.91%. There were 7890 orders traded. The win rate was 75-77%. 

Live trading data analysis

Trading Results

Myfxbook Account

Real (USD), IC Markets

Started

June 04, 2018

Deposit

$500

Balance

$3,132

Gain

3,426%

Daily

0.29%

Monthly

9.17%

Drawdown

26.70%

Profitability

1.75

Waka Waka EA’s trading results.

The developers share with us trading results. So, now, we know that the system is profitable on the market after seeing verified data. The robot works on a real account on ICE-FX automatically with 1:300 leverage on MT4. The account was created on June 04, 2018, deposited at $500, and withdrawn at $4,532. Since then, the absolute gain has become 3426%. An average monthly gain is 9.17%. The maximum drawdown is 26.70%. 

Trading statistics of the robot.

It closed 2394 orders with 8291 pips and 180 lots. An average win is 14.60 pips when an average loss is -28.08 pips. We have an accuracy rate between 73% and 75%. An average trade length is one day. The profit factor is 1.75. 

Currency pairs the robot trades on.

The most traded and most profitable symbol is AUDCAD with 856 orders and $2693. 

Hourly activities of the robot.

The system focuses on trading during the end of the European trading session. 

Daily activities of the EA.

The same picture we have on the weekly chart. The robot works equally during the week. 

Trading risks.

The system works with low risks to the account balance. 

Closed orders.

The EA closes orders using a trailing feature. By default, it works with deep SL levels. 

Monthly profits of Waka Waka EA.

We may note that profitability went twice lower after April 2021. 

The company

Customer feedback.

Not everyone could manage to set the system well. 

Two products the dev sells on mql5.

There are two robots in the portfolio with MT4 and MT5 versions: Night Hunter Pro and WakaWaka EA. 

The dev’s profile on mql5.

The developer is Valeriia Mishchenko from Russia. Her rate is 4363. The products have a 4.8 rate based on 64 reviews. 

Pricing

The price is $549 for a single copy package. We have no rental options provided. The system is available for demo download. There are no refunds supported. 

Review summary

Pros

  • Trading results provided 

Cons

  • No settings explanations provided 
  • The profitability went down in 2021
  • The robot uses a Grid strategy
  • Lack of people testimonials
  • No rental options provided 
  • No money-back-guarantee existed

Waka Waka EA is a trading solution that has been working on the market for several years. Trading results show that it uses a risky strategy and even with it, the system decreased profitability twice. We are sure that the robot should be updated before we can even discuss purchasing it. 

Rating: 4/10


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