GridMeUpFX 2013 Discussion

   gwrigh posted:
   And the sentiment is bullish! Shutting this stupid robot off and closing all its trades before it does any more damage (which it looks like it is anxious to do). Please beware anyone who wants to gamble with this strategy, that it is not intelligent - it cannot adjust to major trends. 0.5% risk (about 0.09 lot sizes) cost me a solid 25%!!! of my account balance which used to be $20K. Dang! I will have to rebuild using something smarter.

its not the bot fault its your fault.
as vendor said most of the time do not over trade.
if you know that its grid plus Martingale system then you have to play with minimum lot size with 1k deposit.
also remember it will not Martingale till it reach 8 order.
and its is the best with this market.
also if you check out the result you can find that it only eat some of your profit not the capital.
so 1st thing i have learned you have to save your capital.
remember not every day is Sunday and for fun.

rock star.😁

wait and see it will cover up the loss at the end of month hopefully.

I m using this system on a demo account, Although there was a drawdown, the ea survive. Better than genial

and another exciting rollercoaster of martingale...

just survived because of positive news

This is a highly risky EA. No matter how long you test it on demo or real account, or how much it made in the past, it has the potential to blowup your account in few minutes. Don't waste your $20. I had margin calls yesterday, had to manually shut down the EA, closed pending orders and positions, eventually lost 75% of my account. I suggest the owner to take this EA off from your website, to avoid more people to suffer losses.

   dwfwmfb posted:
   This is a highly risky EA. No matter how long you test it on demo or real account, or how much it made in the past, it has the potential to blowup your account in few minutes. Don't waste your $20. I had margin calls yesterday, had to manually shut down the EA, closed pending orders and positions, eventually lost 75% of my account. I suggest the owner to take this EA off from your website, to avoid more people to suffer losses.

If you don't use correct Money Management yes you will blow your account. There is a LossStopOut put in place to stop you from blowing your account. Everyone wants to get rich quick and over trades their account and that's what happens. I have many members that are using this EA successfully as part of their trading portfolio.

Exactly. Trading is all about Money Management. If you want to overtrade, trade. But place stops so you're not wiped out on that big move day. Else be conservative and enter with min lots. Thats wat makes you successful.

   dwfwmfb posted:
   This is a highly risky EA. No matter how long you test it on demo or real account, or how much it made in the past, it has the potential to blowup your account in few minutes. Don't waste your $20. I had margin calls yesterday, had to manually shut down the EA, closed pending orders and positions, eventually lost 75% of my account. I suggest the owner to take this EA off from your website, to avoid more people to suffer losses.

loll why dont you read this before
https://gridmeupfx.blogspot.com/2011/07/beware-do-not-over-trade.html

and this by the vendor
'0.1 lot minimum balance would be $10,000
I would recommend using the built in SmartLot feature whereby it chooses the most appropriate lot size for your account balance.'


if there is EA fault then vendor also blow up his live account..

in any system money management is the key for success, and not every day is your winning day.

Good luck

Hi odrisb,

I've watching your another account traded by this EA, as I understand it was blown up few days ago. That account has now gone private. It'll be interesting to hear how you'll explain that.

   dwfwmfb posted:
   Hi odrisb,

I've watching your another account traded by this EA, as I understand it was blown up few days ago. That account has now gone private. It'll be interesting to hear how you'll explain that.

The account that blew up was obviously over traded. I know many members that deliberately over trade their account. They remove their profits then trade with no risk allowing them to continue to over trade. If the account blows up they don't care because they've already made their money and thats how they wanted to play the game.

The max loss that should be incurred in 1 trading basket is 20% of your account if you use correct money management. Look all I'm trying to do is provide forex traders with another forex strategy (grid) they can use in their trading portfolio. If they use it correctly they should benefit in the long term. Don't blame the system if it is misused. There will be no overnight Millionaires using this system. If traders can't accept that then please stay away...

well said...

Now that I've had a chance to calm down and process my loss, I want to say that odrisb is not misrepresenting this system and $20 is not a gouge for this either. This is coming from someone who lost $5K (25%) and wasn't willing to ride it down to the 40% LossStopOut. I'm only commenting to reinforce to anyone looking at the results, that this system only works over a long period of time with very small trade sizes relative to account size. I was using .09 lots with a $20K account and just couldn't stomach the floating drawdown after -$5000. What can I say, I was hoping for more of a profitable run before the first drawdown period and it happened in the first week I started running it. I shouldn't have been running with the 40% LossStopOut. My trade sizes were not relatively too big - .01 per $2000 would equal .1 per $20K, which is what I was doing. 0.1 per $10K is way too risky for the leverage I had (I would have hit the 40% easily). I was floating -5000 pips at one point. Do the math. I'm just posting to reinforce all the over-trading warnings that the author has given here and on his website. Grid+martingale is gambling if you're over-trading. To all the name-callers on this thread, please reconsider your behavior.

what is your leverage? the recomended is 500 but with leverage you could do the trick

leverage 200

Lucky me, I'm using the basic version and never had this big drawdown recently. I was watching the trades on the author's website and really scary for me. I don't think I will have the stomach to let the trades go that far in the negative territory.

   dwfwmfb posted:
   Hi odrisb,

I've watching your another account traded by this EA, as I understand it was blown up few days ago. That account has now gone private. It'll be interesting to hear how you'll explain that.

why you told not that the user trade with 0.25lot in a 2500$ account??????????

@odrisb Do you have back-tests for 2007 and 2008?

   77z3 posted:
   @odrisb Do you have back-tests for 2007 and 2008?

Sorry I only had reliable tick data going back to mid 2009.
A couple of members have tried it and stated that it did not perform very well in 2008.

I'm only concerned about current market conditions anyway. If conditions change the robot may need tweaking again.

   fxtrader76 posted:
   leverage 200

use Hot Forex, they offer high leverage 1:500 and minimum trade lot size from 0.01