Waka Waka EA performance this month?

[David Hanlon]

Hello, Given the very turbulent market conditions this month could someone who has been running the Waka Waka EA please let us know how things have been going? Has it been in profit or does it get stopped out? Thanks in advance for any info.

[Petko Aleksandrov]

Hey David,

Glad to hear from you. I can share how it performed on the FTMO-funded account. Please, see the screenshot below:

However, I use it with very low-risk settings to stay within the 5% drawdown.

Now, I am placing it in $1500 live account and I will update you with the results.

[David Hanlon]

Thanks Petko. That’s great and very interesting info. It looks like it did very well overall except for that massive drawdown episode. But the fact that low risk setting can balance that risk is important. I will be very interested in future results on a live account. That’s always the acid test. Thanks again.

[Alan Northam]

According to the Waka Waka stats it had averaged 7.18% profit per month and has a maximum drawdown of 26.7%.  It also touts every month for the last five years had been profitable.  Since the average profit per month is 7.18% it stands to reason that some months produce less than 7.18% per month and some months more than 7.18%.  Also it stands to reason, since every month has been a winning month, some months could produce a profit below 1% but greater than 0% with a risk every month of having a 26.7% drawdown.  To adjust the risk so that the maximum drawdown is less than 5% so as not to fail the FTMO drawdown requirement and close the account also means to have a smaller monthly profit to well below 7.18%.  So by reducing the risk therefore would indicate that the monthly profit would be too low to pass the price target to complete the Challenge or the Verification phase.  As a result I don’t see how this EA can be used to pass the Challenge or the Verification phase.  I do see how it can be used in a very low risk / low profit funded FTMO account.  If the funded account performance Petko has shown above is for one month then it represents a monthly profit of about 0.7%.

[Petko Aleksandrov]

Yes, Alan is right. I explained that in one of my videos for the Waka Waka on Funded account.

The chances of passing a Challenge with Waka Waka are less than 30% because you will have to increase the risk, which might lead to more significant drawdown that will break the rules of 5% daily.

However, a funded or live account is quite suitable.

[Petko Aleksandrov]

And here is the video I published yesterday about the Waka Waka performance:

[Kadoski]

Hi

Is this with the lowest risk setting available for the Waka Waka or mid risk?

I have just bought the EA and looking to open it on a $4000 AUD live account.

With this account, I was considering using mid risk settings and allowing for a 30% drawdown. Meaning I would set it up so that it would close trades if they reached 30%. Any thoughts?

And I’m undecided yet whether to use a 1:300 or 1:500 leverage.

Thanks

[netbizint]

Hi,

I started at Pepperstone with USD $4100 with a LIVE account. Was then advised by WakaWaka users from their Telegram chats to not use Pepperstone. I switched to BlackBull markets start of August 2023. Leverage is 1:500.

 

I watched one of Perko YouTube videos on the EA after setthings this up. I changed the settings to mid risk set 40% annual. So far performance for me is

Hope this helps.

 

[Alan Northam]

Just for comparison between using Waka Waka and EAs created by EA Studio here is my results over this last month:

[Rick van Rosmalen]

Hi guys! Which brokers do you recommend for wakawaka on a live account? Unfortunately icmarkets is not working for me, because then don’t allow Dutch people..

thanks 🙏

[sovereignalgotrader]

In reply to 192640.  If you are an Australian resident you are restricted under australian law to a maximum of 1:30 leverage.  Period.  No exceptions unless you qualify as a sophisticated investor which clearly you do not.  Running waka waka on a small leveraged account of 1:30 with on 4000aud is almost pointless.  You would be trading micro lots, and waka waka will be chasing 3 to 10 pip wins.  You will be lucky to make 5$ per day.

[Petko Aleksandrov]

I think any regulated broker with low spreads and fees should work.

Try with any of the brokers we have listed here.

[Petko Aleksandrov]

On my FTMO Funded account I also use the Waka Waka with leverage 1;30: https://www.myfxbook.com/members/PetkoA/waka-waka-10-funded-ftmo/10549404

And it works fine. Never hit the DD until now.

[Jeffrey Farrell]

Hey everyone, I’m new here, I just started, but I do have the Waka Waka.  I’m just curious if I have a 200,000 account with Next Step Funded, and they have a max drawdown of 5%, how would I set this up?  I see the drawdown places in the Waka Waka inputs, but I don’t know which one to put it in.  And will Waka Waka recognize that this is a 200,000 account and increase lot size accordingly?  Any good videos or places I should go to brush up on this info?  Thank you all in advance!  Happy trading!

Jeff

 

[Petko Aleksandrov]

Hey Jeffrey,

Sorry, I didn’t see the post earlier…

The best thing usually is to ask on their website for the right set file according to your challenge rules.

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