Waka Waka EA
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. Therefore it is not a simple “hit and miss” system which only survives by using grid. Instead it uses real market mechanics to its advantage to make profit
Leverage and broker
- The EA is NOT sensitive to spread and slippage. But I advise using a good ECN broker
- The EA should run on a VPS continuously
- With only 1:30 leverage I advise not to use higher than low risk settings on a less than $6000 account, otherwise you might have problems with free margin. With 1:100 leverage it should be fine with up to significant risk setting on a $1000 account
Expert Advisor settings
Strategy
- Symbols – symbols separated by comma (custom if empty)
- Bollinger Bands Period – period of BB used to calculate the upper/lower levels
- RSI Period – period of RSI used to filtering out trades with small potential.
- Maximum RSI Value – value for the RSI filter
- TakeProfit for Initial Trade, in pips – take profit for the initial trade (if no grid trades opened)
- TakeProfit for Grid, in pips (weighted if zero) – take-profit for the grid. If zero, then TP is weighted, i.e. it is equal to TP of the initial order in money (not in pips!)
- StopLoss for Grid, in pips (1000 pips if zero) – stop-loss for the initial/grid trades
- Hide StopLoss – on/off stop-loss hiding
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Conclusion for this robot
Waku waku EA is currently one of the most popular expert advisors. Especially grid traders love it. Although grid trading can show amazing results, it is important to understand how grid strategies work. Therefore it is highly recommend to first trade this robot in a demo account.
5/5