Waka Waka is probably the most famous EA in our catalog, known for a public live signal running for many years. So we put it through the same protocol as everything else and got the prettiest numbers we have ever measured: end-of-day Sharpe 14.23, maximum end-of-day drawdown 0.3%, profit factor 1.63, not a single scary month. If you stopped reading here, you would buy it today.
Those numbers are also the most useless in our catalog, and the reason is the finding of this audit: the test window barely exists.
Our protocol requests 2020-01 to 2026-08. The tester accepted the request and the report head duly prints that range. But the broker feed we test on carries usable AUDCAD tick data only from September 2025. Just 13% of the window runs on real ticks, and the EA's first trade appears ten days after the real ticks begin. Everything before that is silence. What the report actually contains is 10.5 months of trading: 530 trades across 170 trading days.
So the famous multi-year record is not confirmed by this run, and it is not refuted either. It simply cannot be tested on this data. We flag that honestly instead of quietly printing six-year statistics from a ten-month sample, because the report head would have let us.
Here is why the pretty numbers deserve suspicion rather than applause. Structurally, this is the riskiest profile in our catalog: our forensics count 193 entries added against an open losing basket versus 112 with the move, up to 11 positions open simultaneously, 235 moments with long and short open at the same time, and a martingale-like tendency (volume increased after 41.7% of losses versus 25.7% after wins). Grid, hedge and sizing flags all fire. This is exactly the architecture that produced the dead account in our Quantum Queen X dissection.
Run that architecture through 10.5 months in which its pairs mean-reverted nicely, and you get a Sharpe of 14 and a drawdown of 0.3%. The window never contained the one thing that kills grids: a sustained move that does not come back. A short quiet sample does not just fail to reveal the risk. It actively manufactures the opposite impression, because every basket got rescued quickly and cheaply. The smoother the short-window curve of a grid EA, the less it tells you.
Even inside this friendly window, the per-position loss limit of the IQ Capital profile was breached by 7 trades at full size, and 2 still breach it at one-third size. On a $1,000 account the run netted +$166 before anyone asks what a countertrend quarter would have done to an eleven-position basket. The audit's structure section, the sizing matrix and the honesty labels spell out what can and cannot be concluded from a sample this short.
And the reconstructed floating equity makes the point sharper still. The balance curve of this run drew down all of 0.3%. The open baskets behind it sat as much as 14.3% underwater intraday, a factor of 48 between what the closed-trade curve shows and what the account actually lived through. Even in the calmest ten months this pair family had to offer, the grid was quietly doing what grids do. You just cannot see it on the line most reviews plot.
This audit is in our free tier precisely because its main finding is methodological. Before you believe any backtest metric, yours or a vendor's or ours:
The honest way to test this EA is a broker whose tick history actually covers the years the reputation rests on. That rerun is in progress on a vendor-recommended broker with long AUDCAD tick history, following our protocol update for vendor-recommended brokers. When it lands, this catalog entry gets the long-window audit next to the current one, same EA on two data windows, published side by side. Until then, the free sample audit shows exactly what 10.5 months can and cannot say.