Grid Master PRO EA Review – A Powerful and Profitable Automated Trading Solution
The Grid Master PRO EA (Expert Advisor) is a powerful and fully automated trading system designed specifically for the MetaTrader 4 (MT4) platform. It is the professional version of the highly popular BF Grid Master EA created by the renowned FXAutomater team.
Grid trading is a controversial yet potentially very profitable trading technique that aims to make money from the market’s volatility. It works by placing buy and sell orders at predefined price levels to benefit from the inevitable ups and downs of the market.
In this comprehensive Grid Master PRO review, we will cover everything you need to know about this expert advisor including its features, setup process, trading logic, performance statistics, pros and cons, and more.
Key Features of the Grid Master PRO EA
The Grid Master PRO comes packed with many useful features to provide a smooth and profitable automated trading experience:
- Overbought/Oversold Trend Filter – Helps determine the overall market direction to avoid trading against the prevailing trend
- Long Only and Short Only Options – Allows trading only long or short as per your strategy
- Add On Reverse Option – Option to add positions in both directions to maximize profits
- Second Line Recovery System – A unique feature to open more recovery trades to cover losses
- Advanced News Filter – Avoid trading during high impact news events for reduced risk
- Improved Trading Logic – Enhanced trading algorithms for better performance
- Email/Push Notifications – Get updates about your trades directly on your phone/email
- Advanced Time Management System – More control over trading sessions and schedules
- Friday Exit System – Option to close all trades before weekends to limit exposure
- Detailed Statistics – In-depth stats to analyze performance
These features make the Grid Master PRO a versatile grid EA capable of generating steady profits in the right hands.
How Does the Grid Master PRO EA Work?
The Grid Master PRO has been optimized for the GBP/USD currency pair on the M15 timeframe. However, it can also trade other pairs like NZD/CAD if used properly [4].
It uses an advanced grid trading algorithm to place buy and sell orders at predefined price levels. The expert advisor attempts to determine optimal entries and targets based on current market conditions.
The unique second line recovery system kicks in when the price moves strongly in one direction. It opens more trades in the opposite direction with bigger lot sizes to cover the accumulating losses. This mechanism attempts to bring the trades back to profit when the price eventually starts moving in the profitable direction.
The Grid Master PRO provides multiple configurable parameters so you can fine-tune it as per your risk appetite and market environment. You can tweak settings like grid distance, max spread, trade comment, risk percentage, etc.
It also comes equipped with useful features like a news filter, time management system, email alerts so you can monitor your trades even when away from the computer.
Performance Statistics and Backtest Results
Extensive backtesting is absolutely essential before committing real money to any forex EA. Thankfully, the vendors provide detailed backtest reports with reassuring gain figures:
Backtest 1 (GBP/USD):
- Gain: 909.46%
- Profit Factor: 1.97
- Maximum Drawdown: 20.15%
Backtest 2 (GBP/USD):
- Gain: 705.93%
- Profit Factor: 2.21
- Maximum Drawdown: 13.25%
These stellar backtest results certainly seem very enticing. However, it’s pivotal to understand that live trading results can differ drastically from backtests. Slippage, spreads, swaps, and execution lags can significantly impact profits. So don’t get swayed just by the backtest metrics.
Live Performance
It’s encouraging to see that Grid Master PRO has been performing reasonably well in live trading too as per the statistics on MQL5 signals:
- Account 1 – 111.83% gain in 455 days
- Account 2 – 111.98% gain in 637 days
The live accounts seem to be doing around 3.6% in monthly gains on average while keeping the drawdowns under control. Do note historical results don’t guarantee future profitability.
Broker and Hardware Requirements
To realize the full potential of Grid Master PRO EA, you must use an ECN/STP broker with:
- Tight variable spreads
- Low commissions
- Minimal slippage and requotes
- High leverage and good liquidity
Some ideal brokers worth considering are IC Markets, Pepperstone, XM, Tickmill, etc.
You also need a VPS service with minimal latency for the best experience. Avoid using Grid Master PRO EA on a slow home computer due to execution lags.
Advantages of Using Grid Master PRO
Profitable and Optimized Trading Strategy
The Grid Master PRO uses an intelligent grid trading algorithm optimized specifically for GBP/USD. The automated strategy seeks to extract steady profits from the typical price cycles seen in the volatile forex markets.
Effective Loss Recovery System
The unique second line recovery feature kicks in when the trades move in the wrong direction. It opens more trades to compensate the losses. This mechanism attempts to push the trades back in profit when the price starts reversing.
Flexible Customization Options
The expert advisor provides multiple adjustable input parameters so you can fine-tune it as per your risk tolerance and trading style. You are not limited to a rigid system.
Suitable for Various Account Sizes
Grid Master PRO only risks a small percentage of the account balance on every trade. So you can use it effectively with accounts of all sizes – big or small.
Active Development and Updates
The FXAutomater team keeps improving the EA with new features, enhancements, and bug fixes. So you gain access to an expert advisor that continues to evolve and improve.
Check our advanced Forex Scouts Gold V9 Robot
Disadvantages of Using Grid Master PRO
High Trading Frequency
Due to the inherent nature of grid trading strategies, the Grid Master PRO tends to execute a high number of buy/sell orders in a short time. This can quickly rack up trading costs in some brokers.
Lag and Execution Issues
If you use Grid Master PRO with a slow broker or PC, lags can cause failed orders or slippage leading to losses. You must use a quality VPS and ECN broker.
Potential Account Blow Ups
If markets move strongly and rapidly against the grid trades, the accumulating losses can wipe out the entire account before the recovery mechanism can kick in. This is an inherent risk in grid EAs.
Mediocre Returns
The average monthly returns seem to around 3% based on current live results. So don’t expect to become rich quickly with this EA. The income stream is relatively slow and steady.
Grid Master PRO EA Pricing
At the time of writing this review, the vendors are selling licenses of the Grid Master PRO EA for $127 on the MQL5 marketplace. This is an excellent deal considering all the features you get access to.
Do keep in mind that this is a temporary discounted price for the holiday season. The regular price is $367. So it’s best to grab it while the Christmas deal is still active!
Verdict – Is Grid Master PRO Worth Trying?
The Grid Master PRO is a well-developed automated trading system equipped with advanced features and detailed customization options. If used prudently, it can be a great addition for bringing in secondary income from forex trading.
However, expecting it to make you rich overnight would be unrealistic. The average monthly returns seem to be around 3% based on current statistics. But it manages to keep the drawdowns reasonably under control.
So if you have a sizable trading account and want to leverage the power of algorithmic trading to generate reasonable passive income, Grid Master PRO EA is definitely worth trying, especially at the hugely discounted price of $127.
Just make sure you use an ECN broker and VPS service to avoid execution issues. And don’t risk more than 1-2% per trade until you have gauged its performance across different market conditions.