AW Double Grids EA Review – A Powerful Grid Trading Robot

The AW Double Grids EA is an aggressive grid trading robot designed for the MetaTrader 4 (MT4) platform. With over 15 activations and consistent updates from the developer, this expert advisor aims to deliver consistent profits using a straightforward grid strategy. But does it live up to its promises? Let’s dive into this review and find out.

AW Double Grids EA

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Overview of the AW Double Grids EA

The AW Double Grids EA is developed by AW Trading Software Limited and trades using a simultaneous two-sided grid strategy. It opens two opposing orders to start, then multiplies the volume in one direction after closing each profitable trade.

Some key features of this forex trading robot include:

  • Fully automated grid trading strategy
  • Dynamic take profit levels that adjust based on order count
  • Built-in risk management with customizable settings
  • Informative trading panel for monitoring performance
  • Easy one-click installation process

The developer claims that this simple yet effective approach can lead to reliable profits over time. However, as with any grid EA, proper trading conditions and risk management are vital for success.

How the AW Double Grids EA Works

The AW Double Grids EA enters trades by placing two opposing buy and sell orders simultaneously. For example, if the current market price is 1.1500, the EA could open a buy order at 1.1480 and a sell order at 1.1520.

After one of these orders closes profitably, the EA re-opens two new orders in the same direction while multiplying the order volume. So if the buy order closes with a profit, two new buy orders would open with a larger total lot size.

The expert advisor adjusts take profit levels dynamically based on the number of open orders. For instance, if you have three open buy orders and one open sell order, the take profit for the buy orders increases to lock in a larger profit.

This approach of pyramiding orders aims to compound gains over time. However, the risk also increases if trades move in the opposite direction. Appropriate stop losses and risk management settings are essential.

Performance and Backtests

Independent backtests indicate that the AW Double Grids EA can produce steady profits when used properly. Here are some key metrics from a 5-year backtest on AUDUSD:

  • Total net profit: $20,954
  • Profit factor: 2.29
  • Max drawdown: 5.98%
  • Largest profit trade: $87.59
  • Total trades: 975

These backtests show decent performance across over 900 trades on AUDUSD. The drawdowns remain reasonable despite using an aggressive grid strategy.

However, past performance does not guarantee future results. The market conditions, risk settings, and account equity can significantly impact results when trading live. Extensive testing is recommended before using this EA or any automated trading system.

Benefits of the AW Double Grids EA

Some benefits of using the AW Double Grids EA include:

Profit potential

  • Grid trading can generate reliable profits in ranging or volatile markets
  • Pyramiding order volumes helps compound gains

Customization

  • Flexible settings allow customization for any trading style
  • Autolot calculation feature automates position sizing

Ease of use

  • Ready-made trading strategy eliminates manual analysis
  • Informative panel clearly displays trading activity
  • Suitable for beginners through advanced traders

When used properly, the unique mechanics of the AW Double Grids EA provides a hands-off approach to potentially profitable grid trading.

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Risks and Drawbacks

However, there are some downsides to consider with grid EAs:

  • Higher risk from pyramiding order volumes
  • Potential for larger drawdowns during trends
  • Requires extensive backtesting for optimal settings

The AW Double Grids EA also lacks advanced features like artificial intelligence or sentiment analysis to adapt to changing market conditions. The fixed grid levels may perform poorly during strong trends.

Careful risk management is crucial, and this EA may not suit all trading styles. Extensive testing on demo accounts is strongly recommended before risking real capital.

Conclusion

The AW Double Grids EA provides traders with an easy-to-use, grid-based trading solution for MetaTrader 4. The simultaneous two-sided order strategy shows promise in backtests and aims to compound gains through pyramiding order volumes.

However, the highly aggressive grid approach also comes with inherent risks. Appropriate risk and money management are vital for managing drawdowns. We recommend thorough demo testing across various market conditions before using this EA or any automated trading system.

While past results are no guarantee of future performance, the AW Double Grids EA may be a powerful addition for traders looking to leverage the profit potential of grid trading strategies.

Author: Dominic Walsh
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I am a highly regarded trader, author & coach with over 16 years of experience trading financial markets. Today I am recognized by many as a forex strategy developer. After starting blogging in 2014, I became one of the world's most widely followed forex trading coaches, with a monthly readership of more than 40,000 traders! Make sure to follow me on social media: Instagram | Facebook | Linkedin | Youtube| Twitter | Pinterest | Medium | Quora | Reddit | Telegram Channel

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