Grid Master Pro is another software that came in 2019 from FXAutomater developers. The product is positioned as a professional version of the free adviser BF Grid Master EA, where many additional functions have been introduced for productive and more secure Forex trading. Next, we will conduct a review and try to figure out what characteristics Grid Master Pro has and whether it is possible to get the promised profit with it.
Features of the free robot BF Grid Master EA
BF Grid Master is a highly effective trading strategy developed specifically for the GBP / USD currency pair and built on the opening of transactions using the grid method:
- The program determines the current position of the price and then places a series of pending orders above and below the initial positions.
- The price starts moving and takes several orders at once, which are superimposed on each other and provide the trader with daily income.
- If the price changes its position sharply or all previous orders have been worked out, then the adviser automatically forms a new grid, continues to overlap positions on each other and continues until there is something to trade.
The grid method is a controversial trading approach, the representatives of which rely on the theory of “random price fluctuations”, when you can open a series of opposing orders and stop worrying about the quality of trading forecasts. This works well in situations where the price moves for a long time between horizontal levels, makes pullbacks and develops without a pronounced trend movement. The situation immediately changes when a directed trend appears or important fundamental news comes out – in this case, part of the grid orders accumulate a significant loss, add commission spreads to it and lead to a rapid loss of the entire deposit.
The detailed trading logic of the BF Grid Master adviser has not been published on the site, however, there are the following comments:
- The minimum deposit of $1000 is the base amount, below which there is no sense at all, it starts bidding. If you plan to get a margin of safety and a more realistic chance of winning, then the developers recommend starting with $3,000.
- To analyze the chart, you should use only a 15-minute timeframe (M15).
- To reduce the risk level, they advise to adhere to the basic settings and keep the AutoMM parameter at 0.1 — this will allow you to calculate 0.01 lots.
In the case of a favorable market environment and compliance with all the recommendations listed above, the BF Grid Master advisor can bring up to 30% of the account every month.
What has changed in the Grid Master Pro Advisor
Now, let’s go through the main improvements that develop integrated into the paid Grid Master Pro advisor:
- A smart news filter is built into the program that stops the opening of new transactions during the publication of important fundamental events. The filter prevents new losses, but does not know how to close current deals – that is, if you have gathered a grid of orders, got to the news outlet and are against the main movement, then, as in the free version of the adviser, you risk losing everything quickly.
- Integrated additional trading systems, which are not published on the official website due to their difficulty to explain algorithms, enter the logic of placing grid orders (the developers comment on this situation). That is, something is built into the product, but it is unclear what it is.
- At the time of release, the program continues to maintain compatibility with one currency pair (pound/dollar) – expansion is planned in the future and in some of the updates other assets will be connected to the adviser, a list of which is not yet specified.
- In the system settings, there is an additional algorithm that works when there are drawdowns and helps to recover the lost part of the deposit (a detailed scheme of work has not been published).
- There is a separate setting that limits the number of transactions on Friday – this way the program protects the trading account from high drawdowns, which often accumulate due to the transfer of open transactions from Friday to Monday.
Grid Master Pro costs $147 and the period of various sales may fall in price by 50% – we conduct a review on the week of “Black Friday” when the adviser can be bought for $74. The price includes a license for one real trading account and three licenses for tests on a demo account. As an additional service, round-the-clock support and a two-month guarantee of return on investment are offered. In terms of other technical parameters, Grid Master Pro is practically no different from its free counterpart – here you will also need at least $1000 to start bidding.
Grid Master Pro costs $147 and the period of various sales may fall in price by 50% – we conduct a review on the week of “Black Friday” when the adviser can be bought for $74. The price includes a license for one real trading account and three licenses for tests on a demo account. As an additional service, round-the-clock support and a two-month guarantee of return on investment are offered. In terms of other technical parameters, Grid Master Pro is practically no different from its free counterpart – here you will also need at least $1000 to start bidding.
Grid Master Pro is a more profitable and upscale expert advisor that can bring increased profitability with moderate risk over long periods.
User reviews
The Grid Master Pro advisor went on sale on March 18, 2019, and at the time of the review (November 29, 2019) practically did not collect comments – users are reluctant to buy this product and do not risk transferring their money to it. Most of the reviews were found on the MQL5 market, where Grid Master Pro is regarded as an unsafe grid program, which will quickly and guaranteed lead to a drain of the deposit. If you do not agree – in the reviews under the article, share your results.
MQL5 users do not recommend Grid Master Pro and warn of high trading risks.
- The logic of opening deals is based on the grid principle, which allows accumulating insignificant profit during periods of prolonged flat movement. The situation changes when the market goes into the trend stage - one powerful impulse is enough to reset the deposit and depreciate past accumulations.
- A warning has been published in the footer of the site (rule 4.41) that the EA has never been tested on a real deposit and all statistics published are hypothetical - it relates only to the history of the chart and does not guarantee any practical results.
- The adviser places grid orders on an unknown trading system, the details of which the developers do not publish due to its increased complexity. In our opinion, this is an excellent pretext in order not to demonstrate the true performance of the product.
- The development team has a dubious reputation, because it does not disclose its composition, does not provide evidence of its competence and is accused by traders of falsifying trade statistics - on the forums you can find a large number of links to remote monitoring with negative statistics on previously released products. For example, somewhere in 2017, FXAutomater released the highly profitable robot Volatility Factor 2.0, which sold for $347 (now there is a discount and the product can be bought for $174). Several monitoring reports were connected to the adviser, according to which you can monitor statistics - now only those that have a positive result are in the public domain. Monitoring with a real picture is closed.
