As you know, griders are quite popular in the market of trading robots, but due to the fact that it’s impossible to come up with something really new in this direction, most of them repeat each other, and sometimes even duplicate. Forex Grid EA is no exception to this rule and is, apparently, a result of Bunny EA evolution.
It makes no sense to compare them, so let’s focus our attention only at the features of the EA under consideration. First of all, it should be noted that the authors created nothing new – it is a regular two-way Martingale, even less developed than any other, because it does not support two-way operation on the same chart, thereby it requires to apply the Forex Grid EA to two windows for the same currency pair – the first is strictly to buy, with its own magic number, and the second is to sell, also with a unique "magic".
Forex Grid EA and its settings for proper work
An important thing is that the developers recommend using the robot solely on minute chart with GBP/USD pair. Most of the settings are intuitive and familiar from other advisors, so we will list the main ones responsible for risk:
- Show Trade Comment: activate the information display on the chart, which will reflect the information on the work of the algorithm;
- Lots: value of the first lot in a series of orders;
- Multi Lots Factor: the multiplier factor in each new series of orders;
- StepLots: grid spacing, specified in pips;
- Max Open Orders: allowable number of orders the EA can open in a series;
- SafeEquityStopOut and SafeEquityRisk: respectively enable and set a limit in percentage on the potential loss of the deposit.
The Forex Grid EA contains an additional block of settings to control trailing and profit margin, which provides a number of nuances associated with the peculiarities of the software:
- Take Profit: value of take-profit in a series;
- Use Trailing and TrailStop: turn on a trailing stop and set its value;
- Trail Start: minimum profit that should remain if in the process of trail the position is stopped;
- Slippage: the value specified in pips and sets the maximum possible slippage;
- MagicNumber: the magic number that was mentioned at the beginning of the article.
Analysis of monitoring of the account running the Forex Grid EA
It was noted earlier that the robot is not intended for trading in both directions in the same window, so we do not recommend spending time on trying to optimize it for use on other instruments using the strategy tester, as there will be no objective picture of the results, because the basic meaning of two-way averaging is insurance, which will not be achieved in this case. Moreover, it will use the same logic as other limit griders.
Given the above, and in order to really get relevant information, let’s pay attention to the "live" monitoring of the account with the author's settings, whose funds dynamic at the time of the analysis is shown on the picture below:
Of course, the last drop of balance is nothing but the profit withdrawal, while February shows a noticeable substantial drawdown of 32%, seeing which, any competent trader and investor would start to doubt whether they can trust the capital to this robot. However, let’s comment on the basic statistics for the five months of trading:
- absolute increase is 80.1%, i.e. average monthly increase is just over 16% – not bad, but in this case is not comparable to a possible drawdown;
- profit factor is 5.1 – it is strong enough for an Ilan relative;
- average profit per pip in a profitable deal is $1.95, compared to an average loss per pip in unprofitable order of $0.42 is the result of averaging, refills and lack of stops, therefore, such positive indicator confuses.
In conclusion, it should be noted that not all versions of this EA work correctly in the new 600th build of the terminal, so it is easy to notice that problems with it exceed the potential benefit from its use – especially when there are freely available competitive analogs out there.Social button for Joomla