Home > Forex > New GridBot release, now with hedging?

New GridBot release, now with hedging?

July 18th, 2009

It gives me terrible results in backtests. Wiped account on default settings on GBPJPY running from 2009.06.01. Lets hope that it perform better in forward tests…

They use limit orders now, good I think, makes the grid lines visible on the chart and it is more likely that our orders get executed without slippage. But they put sell orders over and buy orders under the price. Where is the hedge in that? A hedged grid puts buy and sell orders on every grid line.

This would give the same behavior as version 2.73, just now they’re using limit orders and we can set the grid spacing. Also, they mentioned some kind of trend awareness, but I don’t see that in backtests either.

I’ll continue some tests now (running a ~40 hour optimization run to figure out optimal grid spacing and max orders) and put it up on demo account (with default settings), but I must say that I am not very impressed right now, can’t imagine it to perform better than the previous version. And in that case I have to go for a refund.

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  1. Dan
    July 19th, 2009 at 23:02 | #1

    One of the forumers stated that the non-hedging version is still better, and said that you must make it so that only one order can be open at a time. I’m trying to get him to share his settings as well, as he seems to have been doing quite well with the bot.

  2. July 19th, 2009 at 23:29 | #2

    I’ve almost given up on it now. Been running backtests with the new version on multiple pairs with grid spacing between 10 and 100, take profit between 10 to 100 and 1 to 10 number of grid order. Still none that can make profit. Guess we’ll see how it does in forward tests tomorrow night.

  3. Dan
    July 28th, 2009 at 23:30 | #3

    Been running it live, not doing well at all. Lost about $150. Looking forward to trialing Ivybot.

  4. July 29th, 2009 at 07:09 | #4

    I’m sorry to hear that. I ran backtests and demo traded for two days before my refund. Don’t believe in the product anymore.

    I am looking on IvyBot also, but there seems to be some small things that is quite weird. Like that it only works with 4 decimal price feeds. Knowing myself I will by it anyway thou ;)

  5. Dan
    July 29th, 2009 at 07:58 | #5

    I was a bit unclear on the 4 decimal price feed bit meant, would you care to explain that one to me? I’m with FXDD and have the bot setup for live trading for about 5 hours now, but no trades as of yet.

    But seems like you’re like me, irresistible to try out the new bots. :)

  6. July 29th, 2009 at 09:34 | #6

    I’m unsure which details FXDD offers since I’ve never traded with them, but if your prices have four decimals (like 1.4125 for EURUSD) it will work with IvyBot. If it has five decimals (like 1.41253) it won’t right now. Read in Donnas forum that they’re working on a update.

    The whole thing seems very strange to me, enough to actually put me off buying it. Can’t imagine why developers that claim they’ve been working on a EA for years wouldn’t have that solved til the release. Makes me distrust their quality in the actual trading logic as well…

    And yes, I really like trying out EAs :D It is actually an at least 15 year old dream of mine to achieve profits from automated trading (I’m kind of a daydreamer).

  7. Dan
    July 29th, 2009 at 16:57 | #7

    Haha well, that’s one heckuva dream to have! Though, looks like we’re reaching the point where this may very well be possible. If only I had the $10K to fund a DukasCopy account, as I do have the software. :/

    I had a feeling that’s what they meant by four decimal places, however, only EURUSD and USDCHF offer four decimal places with my broker, whereas EURJPY and USDJPY offer two decimal places. Either way, the software *should* yield some sort of results for me this week, but as of this writing, still no action.

    And, you have a very good point–why wouldn’t they resolve the four decimal place problem before release? Seems very rushed…

  8. Dan
    July 29th, 2009 at 18:58 | #8

    Just an update, here was their reply to the 4-digit broker issue:

    “For the time being, Ivybot is only supported by 4 digit brokers. This is only for the initial launch period and to make sure everything goes as planned in the optimum environment of 4 digit brokers. The reason behind this is for the appeal of less slippage and the fixed spread environment offered by 4 digit brokers. We are currently in the process of applying the methodology to 5 digit brokers. We believe this download to be available within a few weeks. In the mean time, using one of the recommended brokers from the Ivybot member’s login section will work fine. You will be notified as soon as this change has been made.

    You can download a great 4 Digit broker here http://www.forexmeta.com/bonusn

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