Wild Side EA Review: A Comprehensive Analysis

Table of Contents

Wild Side EA is an automated trading software designed for the MetaTrader 4 and MetaTrader 5 platforms. This expert advisor (EA) claims to generate consistent daily profits with a low-risk approach, utilizing unique algorithms and the author’s indicator. In this comprehensive review, we will examine the key features, performance, pros, and cons of Wild Side EA to determine if it is a worthwhile investment for traders.

Overview of Wild Side EA

Wild Side EA is marketed as a secure automated software for trading forex. The EA uses its own price action algorithms in combination with the author’s indicator to identify high-probability trading opportunities across various currency pairs. Some of the key features of Wild Side EA include:

Fully automated trading system
Works with multiple currency pairs
Low drawdown capabilities
Easy to use and set up

How Does Wild Side EA Work?

Wild Side EA is programmed with a set of trading rules and logic to identify high-probability trading opportunities across various currency pairs. It utilizes custom-built indicators along with standard technical analysis tools like moving averages and envelopes to determine market direction and momentum.

Once a trade setup is identified based on its strategy, the EA will automatically place a pending buy or sell order. It then manages the trade according to predefined parameters until the take profit target is reached.

The EA is capable of opening both market and pending orders. It also includes features for closing trades at breakeven and trailing stops to lock in profits.

Risk management is handled through automated stop loss placement on every trade. The stop loss levels are optimized to allow enough room for price fluctuation while limiting potential losses.

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Pros and Cons of Wild Side EA

Pros

Fully automated trading system, requiring minimal user intervention
Compatible with multiple currency pairs
Low drawdown capabilities
Easy to use and set up

Cons

Limited information on the developers and the inner workings of the EA
No verified live trading results available
Requires monitoring and human supervision for optimal results

Performance and Backtesting Results

According to the vendor’s website, Wild Side EA has been extensively backtested across multiple currency pairs and timeframes. On the EUR/USD pair alone, it was able to generate over 16,000% returns in just 5 months of backtesting from 2020 to 2021. However, there are no verified live trading results available to confirm the EA’s performance in real market conditions.

Verdict – Should You Use Wild Side EA?

Wild Side EA shows potential as an automated trading system based on its backtest statistics. However, the lack of verified live trading results and limited information on the developers and the inner workings of the EA raises concerns about its reliability and performance.

Before deciding to use Wild Side EA, it is crucial to conduct thorough research and testing. If you choose to use this EA, ensure proper risk management and monitor its performance closely to achieve the best results.