Grid King can run on multiple currency pairs. The algorithm has been stress tested for 18 years with no significant drawdown. It can only work on a hedging MT 5 account. Our article will cover all the features of the trading robot and discuss if it is profitable or not.
Features
The robot has the following features:
- It can run with a minimum capital of $1000 on XAUUSD or EURCHF
- It is not sensitive to spread and account types
- It uses a unique spread equalizer algorithm which dramatically decreases the impact of spread and slippage
Strategy
The developer states that the robot uses grid trading for getting out of positions that run in a loss. It runs on volatility breakout and return to mean strategies. The former is where the algorithm will trade in the direction of momentum, while in the latter it will exploit the fact that price always returns to the mean. The algorithm has different modes that increase or decrease the risk as per the choice of traders.
How to start trading with Grid King?
The robot can be downloaded from the MQL 5 community after paying the costs. Traders can then head over to their MetaTrader 5 platform and download the product from the market section. Drag the EA to respective charts and enable auto-trading to start the robot.
It can run on the H1 chart with a $3000 recommended balance and work best with ECN brokers. It has been optimized for multiple currency pairs.
The asking price for the algorithm is $390. Traders can also rent it for 3, 6 months, and one year for $199, $249, and $299, respectively.
Backtests
Backtesting results are available for EURUSD, GBPUSD, and EURGBP only. There is no detailed statement present which is a turn-off. The duration of all the tests is 2007-2018. The developer presents backtesting results by showing multiple images on the MQL 5 marketplace. For EURUSD, auto lot size enabled the robot to have a maximum drawdown of 52.98% and turned an initial deposit of $3000 into $218540.54. It had a winning rate of 61.85%, with a profit factor of 1.92. The average amount of profitable trades was $133, while the average amount of losing deals was -$112.30. There were a total of 5544 trades executed during this period.
Verified trading results of Grid King
Live trading results are available on MQL 5 marketplace at different brokers. For our analysis, we selected the one on Infinox Capital Limited, which shows performance from August 2019 till the current date. Since then, the robot has had an average monthly gain of 0.17%, with a drawdown of 36.17%. There were 10474 trades in total, with an average holding time of 3 days. The expert advisor trades with a winning rate of 61.55% with a profit factor of 1.13. The best trade was 1895.18 Euros, while the worst one was -1827.35 Euros.
Vendor transparency
Wim Schrynemakers is the developer of the expert advisor. He is from Matla. Wim has 20 products published in the MQL 5 marketplace and has 8+ years of experience. He has a total of 19280 subscribers. The developer does not share a portfolio of his statistics which raises some red flags. He should share his qualifications or extensive market data that could be used for authentication of the statements.
Is Grid King a viable option?
Grid King robot has a high drawdown value of 36.17%, which does not make it a viable option. The stated drawdown means that it loses nearly half of the account balance during trading.
Advantages
- Available at the noted MQL 5 marketplace
Disadvantage
- It has a high drawdown
- The robot uses a risky grid strategy
- No money back guarantee
Conclusion
Grid Trading can be extremely risky as the market continues to trend significantly in one direction. It is possible to receive a margin call on your account using this method. Therefore it is better to stay away from algorithms utilizing grid trading strategy.
