Waka Waka EA Review (Worth $2,600 Price Tag?)

The Waka Waka EA (by Valery Trading) is getting a lot of attention in Forex robot circles in recent years.

Obviously, with a $2600 price tag this EA is built for traders with large capital.

You’re simply not going to purchase a trading robot for $2600, to use on a $500 trading account.

So, if you have a smaller account, I recommend checking out Forex Fury.

Waka Waka EA Review

The Waka Waka EA is advertised as a robot with a live track record that started in 2018, that offers stable trading and a low drawdown.

For the majority of the 6+ years their live account has offered just that.

But in recent times, the drawdown has increased.

Now that doesn’t mean that this is suddenly a bad robot, not at all, but it is a grid trading system, and historically grid trading robots do have high drawdowns.

So let’s explore the strategy a little further, before we take a look at the trading results.

Waka Waka EA Strategy

The Waka Waka EA uses a grid trading strategy.

This means that the robot will place buy and sell orders at predefined price intervals. When the market is ranging, this trading strategy is incredibly profitable, and as you likely already know “Many financial markets (especially forex) are in range-bound conditions 70-80% of the time and trend the remaining 20-30%.”

So, given that the market is more frequently in a range, than in a trend, the grid trading strategy can be very profitable in the long term.

The only issue, is avoiding major volatility in a single direction.

If the market spikes up, the robot will keep taking trades at the predefined price intervals, but the market will need the price to come down in order to close those trades. If the price keeps going up, and up and up, then the account will incur serious drawdown.

Then, you will be in trades for a significant period of time, like we see above where the Waka Waka EA got caught in drawdown for over 80 days.

Now, this isn’t the end of the world, and in their case, they were able to recover this account smartly.

So let’s take a closer look at their main trading account, and see why so many believe this is the Best Forex Robot on the market today.

Waka Waka EA Results

The main Waka Waka EA trading account is verified on Myfxbook.

They originally deposited $3500, and currently the account balance is over $12,000, making for a solid gain.

They’ve done 3 withdrawals throughout the life of the account as well for a total of $4352, but they did deposit another $3000 when the account went into drawdown in May this year.

Now, I don’t want to make it seem like I’m focusing on this drawdown exclusively here. It’s not for the point of criticism, but it’s the most interesting time in the robot’s history, because it almost collapsed.

They were able to recover this, which I want to keep stressing.

If we look at their equity growth here, we can see it’s been steadily going in the upward direction.

Throughout the 6 years this account has been running, the drawdowns have been very small, so even though there is the 1 large drawdown, I wouldn’t classify this as overly risky.

In terms of grid trading robots, with a history like this, I would put this in the column of one the least risky. As, generally, grid trading robots are known for blowing accounts and not recovering. Which is why I’m so interested in the Waka Waka EA, because it was able to dig itself out of a pretty significant hole.

If this drawdown were to happen in your first few months of using the robot it would likely destroy your account, but because this account had already built up significant equity, it was able to withstand the lengthy drawdown.

As I mentioned earlier though, there really is the only drawdown capable of blowing a trading account in a 6 year span, so it is not of huge concern.

Waka Waka EA Reviews

The client feedback on the Waka Waka EA is very positive.

Overall, the ValeryTrading company has a 4.6 rating with 206 reviews, and in the Forex robot industry that’s incredibly impressive, as there’s many haters.

Here’s a great review explaining that they have support that will connect to your computer and install the Forex robot for you. Now that is not something you regularly see, but at $2600 it does make sense that you get that extra level of service, I do commend them for this.

Of course, I will show a negative review as well, because that’s what I do in my reviews.

This client claims that it took only 3 weeks for the Waka Waka EA to wipe out his account. Even though the client tries to pre-emptively say that he’s “not the problem,” I’m not so certain.

When using a grid trading robot, there is always going to be a chance that you blow the entire account and lose your capital. Though, as I’ve made very clear in this review, this chance is lower with this grid than most other grids I’ve ever used.

ValeryTrading did respond to this negative review as well, and their response does make sense. It really doesn’t feel like they’re passing the buck on this one. They just state the important of money management when using a grid trading robot.

With a grid trading robot you simply need to have a large account, with low risk settings so that the robot has significant breathing room to operate, and withstand any drawdowns.

This simply the cost of doing business.

Conclusion

The Waka Waka EA is clearly one of the best grid trading robots on the market, but grid trading is a very specific way of trading.

It’s not for everyone, and it’s not for the faint of heart, because you have to get used to holding orders, and sustaining drawdowns.

In the end, the goal is to grow trading accounts, and this robot does that quite well.

Is there a risk of losing the account completely? Yes.

Does that mean this is a waste of time and money? No.

It’s a sophisticated robot, and one that’s proven to be stable since 2018.