Since January 2021, the signal behind Waka Waka EA has booked exactly one losing month: April 2024, at minus 0.03 percent. In every one of our measurements since 9 September, the same account carried open losses of 20 to 66 percent, and from 17 September to 14 October more than 40 percent each time. From 9 to 12 October the product held rank 1 on the MT4 bestseller list; on 23 October it was at rank 9. It has 54 reviews, averaging 4.25 stars (as of 24 October).
The monthly table counts closed trades only. The balance rose by 34 USD to 15,905 USD between 9 September and 22 October, and September shows plus 0.29 percent in the table. Over the same period the equity, open positions included, fell as low as 5,377 USD on 14 October and stood at 9,637 USD on 23 October. The trade list fits that pattern: winning trades stay open for just over four hours on average, losing trades for 58 hours.
This has happened before. In March and April 2024 the equity fell by up to 72.4 percent, while the monthly table books plus 0.75 and minus 0.03 percent for those two months. AlgoCheck classifies the position management as grid and martingale: 2,471 entries added at a worse price, 1,571 of them with a larger size, and up to nine positions open at once. The signal started with 500 USD at 1:300 leverage, with 3,000 USD deposited in total.
Where the field stands today
How the products we have classified spread across the four risk classes.
Based on 821 classified products.
Gone from the market, still on file
These products left the market while we were watching them. Our classification stands.
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- Tradefxlast classification: Open tail risk