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What to do… » GridBot

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Posts Tagged ‘GridBot’

FOREX EA update

May 31st, 2009

So, I’m currently using four different Expert Advisers (EAs) that are trading 15 (!) different currency pairs. They are FAP Turbo, Forex MegaDroid, Forex GridBot and Forex Derivative 2.0. The last one is the latest (and greatest?) addition to the line-up. As of this writing it hasn’t done any actual trading yet, but it does very very well in backtests so I am hopeful. FAP Turbo is still the only one that have been profitable over my 5 days of trade, but I will keep MegaDroid and GridBot for a while to see how things turn out. FAP Turbo uses DonnaForex settings for the pairs she trade, and my own for USDCAD.

As for GridBot I’ve analyzed last weeks trades and made some changes to virtually every currency pair. I was considering dropping a few, but resorted to constrict their trading hours instead. This way I can still get more data on them, if last week perhaps just run bad for some pairs. So what settings will I be running this week? Here’s the Line-up:

GBPJPY and USDJPY:  LotSize 0.1, SafetyNet -50, trading between 18 and 3 GMT (Alpari UK offset)

USDCHF: LotSize 0.01, SafetyNet -13, trading between 9 and 18 GMT

GBPUSD: LotSize 0.05, SafetyNet -50, trading between 9 and 3 GMT

EURUSD: LotSize 0.01, SafetyNet -14, trading betweeen 9 and 15 GMT

USDCAD: LotSize 0.01, SafetyNet -20, trading between 11 and 19 GMT

EURGBP: LotSize 0.01, SafetyNet -20, trading between 9 and 14 GMT

EURCHF: LotSize 0.01, SafetyNet -20, trading between 9 and 3 GMT

EURCAD: LotSize 0.05, SafetyNet -80, trading between 9 and 3 GMT

CHFJPY: LotSize 0.01, SafetyNet -20, trading between 12 and 3 GMT

AUDUSD: LotSize 0.01, SafetyNet -14, trading between 10 and 18 GMT

AUDNZD: LotSize 0.1, SafetyNet -60, trading between 9 and 3 GMT

NZDUSD: LotSize 0.01, SafetyNet -14, trading between 11 and 19 GMT

EURJPY: LotSize 0.01, SafetyNet -15, trading between 18 and 3 GMT

GBPCHF: LotSize 0.01, SafetyNet -20, trading between 9 and 15 GMT

So, hopefully it will work out with these settings, and I get more good trades than bad. I’ve tried to stop lingering trades by settings a little tighter working hours and lower safety net on some pairs as you can see. Some I’ve also started trading at bigger lotsizes since they’ve been performing very well. AUDNZD has hit rate of 100% as of now for example, so I’m trading it at 0.1 lotsize. This pair is characterized by often trading in a range, perfect for grid trading. Unfortunately the spreads are somewhat unfavorable, but as long as GridBot keeps getting winners here I’m satisfied.

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/