Suggestion Waka Waka EA ....

philippe5 · 16 Apr 2024

Jarora said: ↑

Waka Waka's Drawdown [Money & Risk Management]

The last week has been marked by a significant drawdown of the main Waka Waka account. Releasing posts celebrating Waka's milestones and not addressing important events like this one would not be transparent and show a realistic picture of trading with grid Expert Advisors, so that's why I decided to cover it in full.

First things first: if you do not use any risk management with Waka Waka or any other grid system, I recommend setting up proper risk management right now. Here you can find the post about it. This topic is also covered in every EA guide and I frequently remind about it to people (even when their questions aren't directly about risk management)

When you work with any Expert Advisors (especially a grid one), proper money and risk management are the first two things you should care about. If things don't go as planned, you need a plan to work with even in the most difficult of situations. With financial markets, it's pretty easy to get into difficult situations. That's why you should read this post first and only care about anything else later.

If you breach the maximum risk level you have for yourself (either as a % of your capital or as a predefined sum of money) and you find yourself in a situation of not having proper money and risk management, the only sensible thing to do is to close all trades immediately and configure proper money and risk management after that. If you don't do it, you leave your money to chance, and that's the opposite thing to sensible trading.

Now, you may have noticed, the main Waka Waka account I have is pretty small (compared to the "Smart TP" account, for example). That's why the maximum risk I have there is measured in money, not in %, and that's why I will add more funds to this account if necessary. On the other hand, the bigger "Smart TP" account I have has the maximum risk measured in %, meaning that it'll close all trades in case of having a large floating drawdown.

It's crucial to understand that no trading strategy is immune to market fluctuations and potential losses. Even the most well-designed systems can and will experience drawdowns and losses. The key is to be prepared for these situations by implementing a solid risk management plan from the outset. By setting clear limits on the amount of risk you're willing to take, either as a percentage of your capital or a fixed sum, you can protect your investments and minimize potential losses. This proactive approach mitigates potential losses, ensuring a resilient investment portfolio that won't go away with a single market swing.

Best,
Val
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https://www.myfxbook.com/members/MischenkoValeria/waka-waka-ea/8379251
https://www.myfxbook.com/members/MischenkoValeria/waka-smart-tp/9322919

Compared to Smart TP for account size, they have similarly set lots. He is already looking for an opportunity just to add money so that his account does not collapse. I would like to know what their the maximum risk level is and where they close all the trades. DD 58.02% is it probably not. Maybe DD 100%.
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This ea is waste of time.

Francesco60 · 26 Apr 2024

Historic moment... today EA Waka Waka capitulated under the blows of AUDNZD. Today Miss Valery deposited $3000 into her account because she received a Margin Call. It's the martingale EA that lasted the longest, but the end has come.

sdfs33 · 18 Jun 2024

who has the new vison? After update of Mt4, the old waka doesn't work....

Jerry105 · 18 Jun 2024

sdfs33 said: ↑

who has the new vison? After update of Mt4, the old waka doesn't work....
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Hello,
Try this one

NOWASwe · 18 Jun 2024

Jerry105 said: ↑

Hello,
Try this one
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1420 not working!

sdfs33 · 18 Jun 2024

yes, 1420 is not working now!

glosbe · 19 Jun 2024

TRY THIS

sdfs33 · 19 Jun 2024

glosbe said: ↑

TRY THIS
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thank you so much, It's worked.

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Suggestion Waka Waka EA ....

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Waka Waka EA V4.37 (Working 1400 and above).ex4

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Suggestion Waka Waka EA ....

philippe5 Member Credit Hunter

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Attached Files:

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sdfs33 New Member

Jerry105 New Member

Attached Files:

Waka Waka EA V4.37 (Working 1400 and above).ex4

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sdfs33 New Member

glosbe Active Member Credit Hunter

Attached Files:

Waka Waka EA V4.43_fix_1420.ex4

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