Is Mood EA reliable for your trading account? Should you buy this system for a better trading experience? Read this review to find out if this forex robot is worth your money or not.
Table of Contents
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About Mood EA
Mood EA is a forex robot available on MQL5 website. The developer of the system is Vasiliy Strukov from Russia. It is an automatic trading robot that opens and closes orders.
According to the vendor, the product can be purchased at the rate of $199, but without a rental option.
Mood EA claims to give advantage in the financial market with its expert strategy. Here, the vendor provides a list of settings that shows DD reduction algorithm, SL and TP options.
Mood EA: Reasons to Avoid this Expert Advisor
Firstly, Mood EA is a forex robot that fails to pay attention to details. The sale pitch of this Expert Advisor shows some transparency issues with the product.
Secondly, the system has no cash back for the product. There is no guarantee that your money will be refunded if the product does not work as it is claimed to be.
More so, the customers’ feedback is pretty worrisome. There are many customer reviews on MQL5 where the product is sold of which they are all positive. However, we don’t want to trust those reviews as they can be twisted in favor of the system.
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Accounts
Free Trial
Projects
SSL
2
Strategy: Scalping
Time Frame: M1, M5, M15 and M30
Currency Pairs: All Pairs
License fee: $147
30 Day Money-back Guarantee
1
Strategy: Stop and Reverse
Time Frame: All time frames
Currency Pairs: EUR/USD, EUR/GBP and USD/CHF
License fee: $149
60 Day Money-back Guarantee
3
Strategy: Scalping
Time Frame: M1, M5, M15
Currency Pairs: All Pairs
License fee: $147
30 Day Money-back Guarantee
Mood EA Trading Strategy
Mood EA works on the Momentum indicator which uses oversold or overbought to enter a trade. Further, the vendor explains that indicator catches traders’ moods.
The system discusses nothing on currency pairs and timeframe.
Mood EA Trading Results
From the result presented, the EA traded on a deposit of $500 with a risky approach that caused a draw down of 81.88%.
The vendor further presented a trading stat that had no third party verification which could be twisted. According to the stat, it shows a total return rate of 2316%, however, the system still proved to be risky as the maximum drawdown was (84.3%).
Conclusion: Is Mood EA a Reliable Forex Robot?
Mood EA does not seem like a reliable forex robot for traders even though it promises offers that look good to be true.
More so, not guaranteeing forex traders a refund for their money if the system does not prove trustworthy as it claims is a con.
Because this EA does not consider it necessary to provide information, we do not recommend this forex robot for trading.
Kindly share your comment about this broker in the comment section.
