Mood EA has multiple settings that traders can tweak. Some of them include adjusting the starting lot and enabling or disabling hedging. The developers provide the images to backtest records that have caught our eye, and we will review them in our article. In the end, you will know if the system is profitable for your portfolio or not.
Mood EA: characteristics
The robot can work on your platform if you follow the following steps carefully:
- Purchase the system from MQL 5 and log in on the marketplace on the MT4 or MT5 platform
- Download the expert and enable live trading
- Attach the robot to the charts to start trading
The EA has the following features:
- Traders can enable or disable hedging.
- There is an option to adjust the lot size.
- The drawdown reduction algorithm keeps the downside on the check.
- It is possible to adjust the maximum spread value under which the robot can trade.
Currency pairs, strategy, and time frame
The robot uses a momentum indicator, which is one of the leading algorithms. Then it will use it to gauge the overbought and oversold conditions in the market and enter accordingly. Unfortunately, there is no live record or backtesting statement that can be used to know the robot’s strategy.
Mood EA trading performance
Backtesting results are available for an unknown currency pair. The relative drawdown was around 81.88%. This value of relative drawdown is quite high, showing that the system nears a margin call while trading.
The winning rate was 68.2%, with a profit factor of about 1.99. The test was done on an unknown time frame with a starting balance of $500. The robot tanked a total profit of $3531.91 during this period. There were 1600 trades performed at which the best trade was $425.72, while the worst one was -$132.83.
There are no verified trading records present. The developer shares an image where the system’s total gain was 2316%. The relative drawdown stood at 84.3%, again a quite high value. We can not trust such output without proper tracking. The author shared a link that is supposed to take us to the live records, but there is nothing present. The account must have incurred a margin call while trading, due to which the developer removed them from the MQL 5 website.
How much does it cost?
The robot is available for an asking price of $199 for one account. There is no money-back guarantee as per the rules of the MQL 5 marketplace. There are no renting options present right now.
Reviews from customers
Customer reviews are only available at the MQL 5 marketplace, where the algorithm scores 5 for a total of 53 feedbacks. It is interesting to note that all of the comments are positive. There is a chance that the developer himself has written them. One of the customers states that he has tested the robot for a week and now is experiencing an upcurve.
Should you use Mood EA?
Mood EA does not have satisfactory results or records that can convince us to use it. The backtesting performance is on an unknown currency pair and shows us that the system has a high drawdown.
- Multiple configurable settings
- Hedging strategies are in use
- It does not provide detailed backtesting results
- There are no live records
Mood EA is not a reputable system to use in our accounts as it has a high drawdown. There is no transparency on multiple factors that make our investment’s bad choice. Traders have to be attentive at all times so as not to receive a margin call.