The configuration settings of Waka Waka EA define how the Expert Advisor (EA) behaves in both live and backtest trading environments. Below is a detailed explanation of each critical parameter grouped into categories, followed by an expert conclusion on its trading approach.
📌 1. Money Management & Risk Settings
| Parameter | Value | Explanation |
|---|---|---|
| Lot-sizing Method | Low Risk Set 20% annual | Conservative risk strategy aimed at long-term growth. |
| Fixed Lot | 0.01 | Minimum lot size for small accounts. |
| Deposit Load % | 0.25 | Low deposit load, ensuring minimal drawdown risk. |
| Max Lot per Order | 100.0 | High ceiling, but actual lot size controlled by dynamic load. |
| Dynamic Lot (Balance-based) | Enabled (10,000 base) | Auto-scaling lot size based on balance. |
🟩 Conclusion: This setup prioritizes capital preservation with conservative risk exposure, suitable for both small and medium-sized accounts.
🔁 2. Trading Rules & Execution Logic
| Parameter | Value | Explanation |
|---|---|---|
| Allow Opening New Trade | True | EA will initiate new positions when criteria are met. |
| Allow Trading on Holidays | False | Avoids risky market periods with low liquidity. |
| Only One Symbol If Grid Reaches Level | 0 (disabled) | Allows simultaneous grid trading across multiple pairs. |
| Max Open Lots | 1,000,000 | Very high cap; not limiting performance. |
| Trading Days | Mon–Fri | Trades throughout the full week. |
| Trading Hours | 00:00–23:59 | 24/5 operation, maximizing opportunity. |
🟩 Conclusion: The EA is always active during trading hours, fully automated with grid trading logic allowed on multiple pairs simultaneously.
🧮 3. News & Event Filters
| Parameter | Value | Explanation |
|---|---|---|
| News Filter Enabled | True | Avoids trading before/after economic events. |
| Custom Event | FOMC | Focuses on major market-moving events. |
| Wait Before/After News | 15 minutes | Adds buffer to reduce slippage or volatility risk. |
| Stock Crash Filter | Disabled | Not in use for this setup. |
🟩 Conclusion: Waka Waka EA is news-aware, pausing trades around high-impact news (FOMC) to reduce risk during volatile conditions.
📉 4. Drawdown & Risk Protection
| Parameter | Value | Explanation |
|---|---|---|
| Max Daily Drawdown % | 100% | High tolerance but monitored daily. |
| Drawdown Action | Close trades & stop for 24h | A safety net in case of abnormal losses. |
| Handle Max Drawdown Events | False | Not reacting per-tick, but end-of-day risk control. |
🟨 Conclusion: While max drawdown limits are set high, there’s a 24-hour stop trading mechanism, adding basic capital protection.
📐 5. Grid & Trade Distance Settings
| Parameter | Value | Explanation |
|---|---|---|
| Grid Distance (pips) | 35 | Distance between orders in a grid. |
| Max Trades | 9 | Limits grid size to reduce overexposure. |
| Trade Multiplier (2nd–5th) | 1.0 to 3.0 | Gradual increase in trade size per level. |
| Smart Distance | Enabled | Dynamically adjusts based on volatility. |
🟩 Conclusion: Controlled grid logic with adjustable distances and multipliers for optimized scaling without over-leveraging.
🧠 6. Indicators & Strategy Logic
| Parameter | Value | Explanation |
|---|---|---|
| Working TF for BB and RSI | M15 | Uses 15-minute timeframe for signal generation. |
| Bollinger Bands Period | 35 | For volatility measurement. |
| RSI Period & Max RSI | 20, 15 | For overbought/oversold filtering. |
| ML-based Pattern Recognition | Enabled | Uses machine learning pattern filter for trade signals. |
🟩 Conclusion: Waka Waka EA applies a blend of classic indicators and ML filters, ensuring trades are based on statistical pattern recognition.
🧪 7. Backtest & Environment Settings
| Parameter | Value | Explanation |
|---|---|---|
| Symbols Backtested | AUDNZD, AUDCAD, NZDCAD | Multi-symbol strategy setup. |
| GMT Offset / DST Settings | Manual | Custom-configured for accurate backtesting. |
| News Data in Backtest | Disabled | Filters like news are bypassed in testing for stability. |
🟨 Conclusion: Backtest environment is clean and consistent. However, real-market live performance may differ slightly due to the disabled news filter in backtest mode.
📌 Final Conclusion – Is Waka Waka EA Safe and Profitable with These Settings?
Waka Waka EA uses a smart, low-risk, multi-symbol strategy, combining Bollinger Bands, RSI, and machine learning logic. It is enhanced with:
- Conservative risk exposure (0.25% deposit load)
- News-based trading filters
- Controlled grid logic
- Safety net mechanisms for drawdown and max trades
These settings are well-balanced for long-term, low-risk algorithmic trading, making it suitable for semi-passive income strategies, prop firm challenges, or portfolio diversification in forex.
