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FOREX GRIDBOT

 

Price: $149.00
Optimism Rank:
Sold by:   ClickBank





Description:

Forex Gridbot trades the GBP/JPY and USD/JPY in a grid-style strategy. It only trades from 16:00-2:00 GMT in an attempt to avoid fast-moving times of the day. The latest version has a profit-target and max drawdown feature to prevent an account from running away in losses.


Scott's Notes:

July 24th, 2009 - While pure performance doesn't make up 100% of my decision for Optimism Rankings, it does play a large part. Gridbot has absolutely stunk so far, only being active for 6 weeks with a 61% loss. How in the world are we taking such big losses while the FPA demo finishes the week with a small gain? I don't know and I no longer care - this bot just got dropped to 1 star.

Aug 7th, 2009 - After seeing 5 weeks of results now, I am going to guess that the GBP/JPY is NOT the best pair to run this robot on. However, some other pairs like the GBP/USD, EUR/AUD, CHF/JPY, EUR/JPY, USD/CAD, AUD/USD, and GBP/CHF all finished this period of time in profit (combined net +1,813 pips). I am going to leave the optimism rank at 1 star but I'm keeping my eye on this "all pairs" account and after a few more weeks I may pull out some selective pairs and create a new demo with them. We will see.


Links:


Account Updates and Memos

07/23/10 - Update:
After testing GridBot for a year, we have concluded that the system doesn't work very well, and have ceased testing. Here is the overview from the last demo account:

Recommended Pairs Demo: Traded from 05/05/10 to 07/23/10
Total trades: 268, Total pips: -2,198
Account started with: $5,000, Account ended with: $97
Pairs traded: GBP/JPY, USD/JPY, Risk setting traded: 0.20 fixed lots

05/05/10 - A new demo account was created:
The Alpari account expired, so we had to create a new one. Here is the overview from the old demo account:

Recommended Pairs Demo: Traded from 02/04/10 to 04/30/10
Total trades: 257, Total pips: -344
Account started with: $5,000, Account ended with: $4,229
Pairs traded: GBP/JPY, USD/JPY, Risk setting traded: 0.20 fixed lots

02/03/10 - Update An Old FXDD demo account expired so we had to create a new one. Here is the overview from the old demo account:

Traded from 11/02/09 to 1/29/10
Total trades: 292, Total pips: +153
Account started with: $5,000, Account ended with: $5,282
Pairs traded: GBP/JPY, USD/JPY, Risk setting traded: 0.20 fixed lots

10/30/09 - A new demo account was created:
Old FXDD demo account expired so we had to create a new one. Here is the overview from the old demo account:

Recommended Pairs Demo:
Traded 7/1 - 10/23, 412 trades, 59% Winners, -2165 pips