Have you ever heard of a robot that can make over 6,000% profit? Well, I came across such a robot called Waka Waka on MQL5 Marketplace, and I decided to test it out. To my surprise, the results were impressive. In this blog post, I will take you through my journey of discovering Waka Waka, what it is all about, and its live performance, and why it may just be the Best Robot for Forex.
What is Waka Waka?
Waka Waka is an advanced grid system that has been trading on a real account for years. It supports AUDCAD, AUDNZD, and NZDCAD. It has received positive reviews on MQL5 Marketplace, with a 4.8 rating out of 5, except for one reviewer who gave it a 1-star review because of a private Telegram group issue.
The installation process is simple and straightforward. It works on the M15 chart and is recommended to be placed on the AUDCAD. The EA has a solid backtest, and there are different risk settings that traders can control to determine the risk they want to take. The maximum drawdown percent is a solution for traders who are afraid of using grid systems and Martingale systems. The seller recommends using only 130 leverage, and not to use higher than lower settings on an account less than 6K.
Best Robot for Forex: Live Performance
Waka Waka has a verified track record on MyFXBook and MQL5 Marketplace, showing a consistent profit for 58 months, starting from May 2021. The live performance shows a growth rate of over 6,300%, which is an impressive feat. After May 2021, there was less percentage growth because the risk was lowered to ensure traders using the EA do not blow their accounts.
The account started with $500, and there were withdrawals of about $4,000, with a profit of $9,578.20. However, there was a drawdown of over 20% at one point, which reduced to not exceeding 12%. This means that the EA becomes riskier when used for FTMO challenges or any other prop trading firm challenge, where the maximum drawdown allowed is 5 or 10%, depending on the conditions.
The live performance of Waka Waka shows that the robot can generate consistent profits over an extended period. The fact that it has been trading profitably for 58 months is a testament to its effectiveness. Traders who use Waka Waka can expect to see their account grow consistently over time.
Why Waka Waka is the Best Robot for Forex on MQL5 Marketplace
Waka Waka is the best Forex EA on MQL5 Marketplace because of its verified track record, positive reviews, and the fact that it has been trading on a real account for years. The robot uses an advanced grid system, which has been tested and proven to be effective in generating profits.
Installation
It is easy to install and comes with different risk settings that traders can control to determine their preferred risk levels. Traders can start with a $1,000 account if they use higher leverage and do not exceed the significant risk setting.
Best Robot Forex : Select the Right Broker
Before continuing, let’s first talk about how to use it. You will need to have a trading account with a broker that supports MetaTrader 5 (MT5). If you don’t have an account yet, you can sign up with a trusted broker like BlackBull Markets. Once you have your account set up, you can download and install the MT5 platform.
Next, you will need to navigate to the Market section of the platform and search for the Waka Waka EA. Once you have found it, you can test it out in the Strategy Tester. We recommend testing it on a demo account first before using it on a live account.
Testing the Best Robot Forex
When testing the Waka Waka EA, you can select the AUDCAD currency pair and a custom period of one year. You can also choose a modeling type of “open prices only” and use a leverage of 1:100. You can then start the backtest and observe how the EA performs.
Indicators and Risk management
The Waka Waka EA uses standard deviation, RSI, and two times ADR with different parameters to enter and exit trades. It employs a grid system that adds new positions whenever the price goes against the trader, with the goal of improving the average price. Eventually, when the price recovers, the EA aims to hit the take profit level.
In our testing, the Waka Waka EA performed well, generating a profit of over 10% on a 10K account. However, we also tested it on other brokers to verify its performance with different quotes and spreads. We also checked the trades that were opened in the verified account from the seller, and they matched with the trades we had on our VPS with the robot.
The Waka Waka EA comes with several inputs, including the lot sizing method and risk level. You can choose between low and mid-risk settings to achieve different levels of profitability.
Best Robot for Forex: Conclusion
In conclusion, the Waka Waka EA is an excellent choice for traders looking to automate their Forex trades and maximize their profits. It has a verified track record, positive reviews, and impressive live performance. The Waka Waka EA is a powerful tool that can help traders of all levels succeed in the Forex market.
However, it is important to remember that Forex trading carries risks. Traders should always use proper risk management when using any trading system or robot. With the right approach, the Waka Waka EA can be a valuable addition to any trader’s arsenal.