Is The Most Wanted EA on MQL5 Worth Your Investment?

TL;DR

The Most Wanted EA claims to use AI for trading and has shown some potential profitability, with two live signals reporting growth. However, the seller's limited experience and the EA's recent performance on a new account raise concerns. Caution is advised before investing, as the backtest results may be overly optimistic.

Transcript

Hey listen hey welcome back to another video on this channel and today I will do another E8 test and it is about the Most Wanted EA in the mcre5 market and it is funny because this EA is not only named The Most Wanted EA but it is currently ranking at the second place and it was at the first place before so this is a really interesting EA to look a... Read More

Key Insights

• 😜 The Most Wanted EA is ranked second on MQL5 Market, suggesting it has potential for profitability.
• 🤨 The seller's limited track record and creation of a new account for the EA raise concerns about commitment and accountability.
• 🎰 Claims of AI and machine learning should be evaluated skeptically, as they are often used for marketing purposes in trading.
• 🏃 Live signals show positive growth and reasonable drawdown, but caution should be exercised before purchasing the EA.
• 🤨 Backtest results on the sales page showing unrealistic profit factors may raise doubts about the accuracy of the tests.
• 🫒 Monitoring the live signals for a few more months would provide better insight into the EA's performance.
• 🍉 Reviews of the EA are generally positive, but they are based on recent success and may not reflect its long-term performance.

Questions & Answers

Q: Does the seller have a track record with expert advisors?

No, the seller created a new account specifically for the Most Wanted EA, which raises concerns about commitment and potential account deletion if the EA fails.

Q: What technology does the EA use?

The EA claims to use AI and machine learning, but these terms are often used for marketing purposes. The actual effectiveness of these technologies in trading should be evaluated.

Q: Are there any backtest results provided?

The backtest results shown on the sales page indicate a 100% winning rate and unrealistically high profit factors, which may raise skepticism about their accuracy.

Q: Are there any reviews or live signals available for the EA?

The EA has positive reviews and two live signals showing growth and reasonable drawdown. Monitoring these live signals for a few more months would provide more insight into its performance.

Summary & Key Takeaways

• The Most Wanted EA by Vitaly Kozov is the second-ranked EA on MQL5 Market, showing potential for profitability.

• The seller has limited track record with expert advisors and created the account specifically for this EA, which raises some concerns about the commitment.

• The EA claims to utilize AI and machine learning, but the effectiveness of these technologies in trading should be considered.

• Two live signals show positive growth and reasonable drawdown, indicating potential success.