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?
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.
- The presentation is featured by a list with all settings.
- 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
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
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%.
The trading has ended with one sky-high drawdown.
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.
As we can see, only a SELL direction was profitable ($1960.75).
The EA traded during all sessions equally, having scalped before Midnight in addition.
The less traded day was Friday (210 deals).
The EA stopped running the account with the highest possible risk.
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 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
The developer has three products in total in his portfolio. His account has 1699 friends and a 11960 rate.
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.
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