ForexEzy
No Result
View All Result
  • Home
  • Getting Started with Forex
  • Forex Education
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
  • Top Forex Brokers
  • Top Forex Robots
  • Commentary
  • Blog
  • Home
  • Getting Started with Forex
  • Forex Education
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
  • Top Forex Brokers
  • Top Forex Robots
  • Commentary
  • Blog
No Result
View All Result
ForexEzy
No Result
View All Result
Home Forex Tools Forex Robots

Grid Hero Review

by Tim Baudin
January 14, 2021
in Forex Robots
0
Grid Hero
0
SHARES
11
VIEWS
Share on FacebookShare on Twitter
Grid Hero Characteristics

Today, we’d like to talk about a Grid Hero robot in our review. It’s designed by Chock Hwee NG and published on the MQL5 site on March 10, 2017. The last version is 9.8. The EA received the latest update over two years ago, on October 13, 2018.

Table of Contents

  • Is this robot a viable option?
  • How to start trading with Grid Hero
  • Grid Hero backtests
  • Trading results
  • Other notes
  • People feedback
  • Wrapping up

Is this robot a viable option?

No, trading results and the endless wall of comments tell that Grid Hero is a scam for a long period.

How to start trading with Grid Hero

Let’s talk about its features and strategy:

  • The robot works fully automatically.
  • It runs an “updated” Grid with a Price Action strategy. All of this is featured by a self-educated algorithm.
  • It was developed, tested, and optimized using the “Reversed Sampling” development methodology based on the “In-Sample” phase (2012 to 2017) and “Out-Of-Sample” phase (2004 to 2011).
  • The period of backtesting was from 2004 to 2017.
  • The EA has passed the Monte Carlo Robustness Test and Delayed Slippage Test.
  • There’s a scalping strategy on the board.
  • The system can detect trends by checking several time frames.
  • The system is featured by Time, Volatility, and Spread Filters. They prevent the system from opening trades at the wrong time.
  • There’s a High-Impact News filter that helps to avoid opening trades in these hours.
  • The main symbol to trade is EUR/USD.
  • The robot trades only the H1 time frame.
  • Grid Hero requires an ECN account, low spreads, and low commissions.
  • The leverage should be set at 1:400.
  • The robot doesn’t support FIFO and NFO rules.
  • The minimum deposit is huge – $4000. It means the EA sits inconsistent and huge drawdowns.
Grid Hero parameters
  • The presentation is featured by a list with all settings.
Grid Hero price
  • The EA costs $488 for a copy. There’s no money-back guarantee. As usual, we can download it for free to check settings and other details.

Grid Hero backtests

Grid Hero backtests

We’ve got a EUR/USD backtest. The modeling quality was 99.90%. An initial deposit was $3000. The total net profit has become $120.8k. The Profit Factor was 2.72. The maximum drawdown was 5.98%. The EA closed 16942 trades with 73%-75% of the win-rate. 

Trading results

Grid Hero Myfxbook

The EA ran a demo USD account on IC Markets with 1:500 leverage on the MetaTrader 4 platform. The account has a verified track record. It was created on January 21, 2018, and deposited at $3000. Since then, the absolute gain has become -89.06%. An average monthly gain was -12.80%. The maximum drawdown was 95.23%.

Grid Hero drawdown

The trading has ended with one sky-high drawdown.

Grid Hero advanced statistics

The robot closed 1278 deals with -404.8 pips. An average win was 7.91 pips when an average loss was -18.30 pips. The win-rate was 65% for Longs and 71% for Shorts. An average trade length was over fourteen hours. The Profit Factor was 0.61.

Grid Hero trading results

As we can see, only a SELL direction was profitable ($1960.75).

Grid Hero trading results

The EA traded during all sessions equally, having scalped before Midnight in addition.

Grid Hero trading results

The less traded day was Friday (210 deals).

Grid Hero trading results

The EA stopped running the account with the highest possible risk.

Grid Hero trading results
Grid Hero trading results

It’s how Grid trading results may occur. For less than a week, the EA has blown the account balance, having closed 22 from 23 deals with losses.

Grid Hero monthly gain

Grid Hero was stopped over a year ago after significant losses.

We’ve googled for the robot’s live trading results, but couldn’t find them. So, even users don’t reveal public trading results to compare. The developer hasn’t relaunched one of his Grid Hero accounts after showing positive profitability in October 2019. At the same time, the vendor keeps selling the scam Grid Hero. 

Other notes

Grid Hero - developer portfolio

The developer has three products in total in his portfolio. His account has 1699 friends and a 11960 rate. 

People feedback

Grid Hero People feedback
Grid Hero People feedback
Grid Hero People feedback
Grid Hero People feedback
Grid Hero People feedback
Grid Hero People feedback

There are several pages of comments from real customers that the EA has become a scam. There’s no reason not to trust them. We’ve seen the blown account almost at the same period. As a result, the developer has lost nothing because it was a demo account but has received $488 for each client without a need for a refund.

Wrapping up

Advantages

  • No advantages

Disadvantages

  • The last update was two years ago
  • Horrible trading results
  • The EA zeroed the account
  • The developer stopped updating and responding in the comment section
  • Insane pricing
  • No money-back-guarantee provided

Summary

Grid Hero is a scam EA for over a year. A Grid trading strategy can easily halve the account or even zero it. Many traders use default settings, enjoying profits right before significant losses. It’s because they don’t understand what the strategy is on the board. The comments and trading results showed that this EA is a scam and can’t be an option in the investing plans.

ShareTweet
Previous Post

An Introduction To Forex Trend Indicators

Next Post

Crude Oil Price Approaches $60 After a Series of Good News

Related Posts

Forex Progress Bot

Forex Progress Bot Review

by Chintan Patel
January 18, 2021
0

Automated systems in Forex have become very popular now. Whether you are a beginner or an experienced trader, an automated...

Forex Scalping EA

Forex Scalping EA Review

by Adam Stanley
January 12, 2021
0

We’ve prepared a review of Forex Scalping EA. It’s a trading robot that scalps little profits on many currency pairs,...

Standard FX

Standard FX Review

by Tim Baudin
January 11, 2021
0

Standard FX is a company that provides PAMM services for everyone. The main statement says about 20% of the weekly...

Night Hawk

Night Hawk Review

by Chintan Patel
January 10, 2021
0

Today’s robot to review is Night Hawk. The expert advisor was designed by the DaVinci FX Group company from Russia....

Siphon-X

Siphon-X Review

by Tim Baudin
January 5, 2021
0

Siphon-X is another robot of the Trading Strategy Guides company. The main statement tells us that Siphon-X can make solid...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Best Forex EA

  • ROFX 9/10
  • Forex Fury 8/10
  • FXgoodway 7.5/10
  • Z Trader FX EA 7/10
  • Forex Incontrol Reborn 6.5/10

Popular News

  • The Best RSI and CCI Combination Trading Strategy for Optimum Returns

    The Best RSI and CCI Combination Trading Strategy for Optimum Returns

    2 shares
    Share 2 Tweet 0
  • Rofx Review – High Profitability and Stable Performance Analysis

    29 shares
    Share 29 Tweet 0
  • The Best Forex Scalping Strategy – Using 3 Popular Technical Indicators

    0 shares
    Share 0 Tweet 0
  • The Best MT4 Indicators & Expert Advisors For Forex Trading

    2 shares
    Share 2 Tweet 0
  • How to check if the indicator is repainting?

    2 shares
    Share 2 Tweet 0

Trading

Footer

We are dedicated to demystify the world of forex trading for you – no matter what level you are on.

Categories
  • Automated Trading
  • Day Trading
  • Forex Basics
  • Forex Brokers
  • Forex Education
  • Forex Forecasts
  • Forex Indicators
  • Forex Market Commentary
  • Forex Robots
  • Forex Signals
  • Forex Tools
  • Forex Trading Strategies
  • Fundamental Analysis
  • Money Management
  • News
  • Risk Management
  • Social Trading
  • Technical Analysis
  • Top World Traders
  • Trading Psychology
  • Uncategorized
Tags
arbitrage atr bollinger bands cci chart patterns classics copy trading courses day trading forex brokers forex charts forex ea forex education forex forecasting Forex Indicators forex software reviews grid trading hedging ichimoku macd market cycles news trading oscillators price action trading rsi social trading strategies tips & tricks trading bots trading platforms trend trading Video
  • Terms of Use
  • Privacy Policy
  • Compensation Disclosure
  • Risk Disclosure
  • About Us
  • Contact Us

Copyright © 2020 by ForexEzy.com

No Result
View All Result
  • Home
  • Getting Started with Forex
  • Forex Education
    • Forex Basics
    • Forex Trading Strategies
    • Money Management
    • Risk Management
    • Technical Analysis
    • Fundamental Analysis
    • Trading Psychology
    • Social Trading
    • Automated Trading
  • Forex Tools
    • Forex Robots
    • Forex Indicators
    • Forex Signals
  • Top Forex Brokers
  • Top Forex Robots
  • Commentary
  • Blog

© 2020, Forexezy.