Grid Master Pro EA Review

Jun 10, 2020 07:00 PM ET
Grid Master Pro EA Review

Grid Master PRO EA is a forex expert advisor that is produced and distributed by the fxautomater team. According to the description available on the website, Grid Master PRO is the professional version of another of their very popular EAs, called BF Grid Master, which is available for free. The EA comes with three additional strategies to increase profitability. It comes with some added features as well, such as a notification system, advanced time management system, Friday exit system, and an advanced news filter. 

Upon visiting the website, it is clear that it is professionally designed and organised, similar to other EAs under the fxautomater line. They have provided detailed descriptions and trading account statistics which will be discussed later. 

Grid Master Pro EA is available for $117 at the moment. The purchase comes with a real account, 3 demo accounts, a support system, and a 60-day money-back guarantee. 

Grid Master Pro EA

Type

Fully-automated EA

Price

$117

Strategy

Grid

Compatible Platforms

-

Currency Pairs

EUR/USD, GBP/USD

Timeframe

M15

Recommended Min. Deposit

$1000

Recommended Deposit

$3000

Leverage

-

Trading Strategy Explanation

It is evident from the name of the EA that Grid Master PRO implements a grid trading strategy. It works on the GBP/USD and EUR/USD currency pairs. It opens transactions by determining the current position of the price. It subsequently places a series of pending orders, both below and above the initial positions. 

When the price starts moving and taking several orders at once, they are superimposed on each other. This provides the trader with an almost guaranteed daily income. The EA automatically forms anew grid if the price changes sharply. It continues to overlap positions on each other and continues trading until any opportunity comers up. 

The developers have also discussed why the Grid method is perceived as dangerous and controversial by many traders but they go ahead and describe some of the advantages of this trading strategy. 

However, Grid Master PRO also contains a second feature which allows it to perform safe, high-frequency scalping, performed when the price is in the narrow range. It also introduces a second line of drawdown compensating trades. 

Back-test Data Analysis

When providing back-tests, the vendor has included a comparison between Grid Master PRO and the previous BF Grid Master EA.

Grid Master PRO EA Back-test Data Analysis

While they haven’t provided any links to verify this, Grid Master PRO EA is shown here to generate almost double the profit as compared to the free, BF Grid Master EA. The drawdown is however, higher.

It should be noted that they include three additional back-tests for the GBP/USD pair as well as provide instructions on how to back-test the EA. It gives an opportunity for potential buyers to test out how the system works over historical data. 

Live Trading Data Analysis

Grid Master PRO has provided us with links to two separate accounts, both of which are hosted on myfxbook. We will take the statistics for the real account for the purpose of this review. 

Trading Results

Myfxbook Account

Real(USD) FX Open

Started

Aug 08, 2019

Deposit

$10000

Balance

$19597.59

Gain

95.98%

Daily

0.23

Monthly

7.86%

Drawdown

39.36%

Profitability

72-75%

 

Grid Master PRO EA Myfxbook

The above account has amassed a profit of almost 96% with a drawdown of 39.36%. While the other numbers are satisfactory, the high drawdown rate is certainly something to take note of. It may be an indication that the strategy applied may carry some substantial risks with it. 

Review Summary

Pros

Cons

  • Detailed description

  • Back-tests not verifiable

  • Reasonably priced

  • Live statistics are not satisfactory

Conclusion

There are certainly several aspects of the GRID Master Pro EA which are appreciating. These include the detailed descriptions, the attempt to explain the strategy, and the live statistics from a real account. However, the live trading statistics prove that this EA still isn’t delivering at the level it has promised.


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