Mood EA is an automated trading system that comes with a variety of settings. For instance, it has money management and stop loss features that help traders prevent losses. A take profit is also available, and this allows the EA to maximize profits on trades. We will analyze the other characteristics of the robot in this Mood EA review.
Mood EA was created by Vasiliy Strukov. Other systems in this developer’s portfolio include, but are not limited to, Status, CheckPoint, EA Antivirus, and Isolation. There’s no more information provided about Vasiliy. His trading experience, qualifications, credentials, achievements, etc., in Forex hence remains a mystery. This may, in turn, create room to doubt his credibility.
Mood EA overview
The few features of the robot are outlined in this section:
- It supports manual orders.
- The system can trade in both directions-buy and sell.
- A DD reduction algorithm is incorporated to minimize drawdown.
- A dynamic distance multiplier is used.
- It works on the MT4 chart.
Pricing
The price of Mood EA is $199, which falls within the average price bracket for Forex robots in this market. But if you are not ready to invest real money, you can test the system for free. If you are satisfied with the results produced, then you can purchase it.
How it works
Being an EA, Mood works by handling trades for you automatically. Your main role is to set the parameters as advised by the vendor. The system then uses the settings to find trading opportunities and consequently opens and closes orders. The goal is to make profits from those orders.
Trading strategy
Mood EA’s strategy is based on the Momentum indicator. So, to enter a position, the system utilizes the oversold or overbought conditions of this indicator, catching the “mood” of traders. This strategy description is not satisfactory. The developer needs to expound on it for the public to fully comprehend how the system really scours for trades. Otherwise, it will be hard to convince traders that the approach can benefit them.
Trading results
We have the backtest report, but it doesn’t reveal the testing period. The modeling quality, the currency pair, as well as the timeframe used are unknown. An initial deposit of $500 was used to complete 1600 trades. The success rates for the short and long positions were 67% and 71%, respectively. A net profit factor of $3531.91 was realized as a result.
There was a big drawdown of 81.88%. It tells us that the EA used a risky strategy while trading. The average profit trade was $6.51, whereas the average loss trade was -$7.04.
The vendor fails to post verified trading stats. We only have the screenshot above, and it is not even informative enough. As per the image, the EA has enabled the account to attain a 2316% growth. The drawdown is insanely high, which tells us that the robot also engages in risky trading activities in the real market. If Vasiliy wants his product to be taken seriously, he needs to step up and provide us with detailed records.
Customer reviews
All the customer reviews on mql5 for this robot are positive. According to the traders, Mood EA is an excellent product that brings them substantial profits. However, we don’t believe these testimonials. They appear biased. The vendor could have either paid the customers to leave favorable feedback or manufactured them to meet his marketing needs.
