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Forex GridBot

May 26th, 2009

Bought another Expert Advisor (EA) to the MetaTrader 4 platform this morning, before going to work. Read some very interesting reports on a forum about the Forex GridBot, where people where running it in broad daylight (most successful EAs run only at night, during the Asian trading session) with remarkable results. So I just had to test it. It is a ClickBank product so they offer 60 day money back guarantee, so if it doesn’t perform I just give it back (just as with my previous EAs, MegaDroid and FAP Turbo).

I put it to work immediately on all (!) 14 major currency pairs. I’m letting it trade 8am - 3am GMT, which is extreme of course, but since it’s a demo I’m pushing it. The GridBot started trading straight away and is racking up orders as crazy. I obviously used a too large lot size (default 0. 2) since I’m hitting my margin all the time today, but when there isn’t margin calls the bot really does well. I will reduce the lot size to 0.05 on the Demo account. I’m tempted to run it live as soon as I get back from work. Of course I’ll start with micro lots live (0.01) if I do that and I will probably only trade 2-4 pairs.

You can watch my demo account at Alpari here, but be warned I run four different EAs now with extreme settings and working hours, this is really a playground: http://patrickbateman.mt4stats.com/

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