Using forex trading bots is an easy way to automate steps in your trading so you don’t have to constantly be watching your charts. Using a forex trading bot like the Grandmaster Expert Advisor you can set your preferred parameters, have the bot watch charts that you’re interested in and automatically enter trades based on your set parameters.
The Grandmaster Forex Robot was developed by the founder of A1 Trading Company, Nick Syiek (also known as “Tradernick” on YouTube). Nick’s motivation behind the Grandmaster EA is to create a system that builds and manages a position before taking profits if they come about. Additionally, the grandmaster is programmed with a focus on risk management.
The Forex Trading Bot is a grid based expert advisor built to adapt with market movements as per the operator’s set parameters. It is designed to work on the Metatrader 4 (MT4) platform only. The robot gives the user the option to set their own preferred grid, set their lot sizes, profit targets, and more.
The trading bot is NOT designed to be 100% automated and do all the work for you. However, it will help automate components of your trading to make your trading process less time consuming.
Who should be using the Grandmaster Forex Robot?
- Forex traders with some experience
- Traders looking to trade with a grid system
- Traders looking to automate components of their trading
- Forex Traders in need of a user-friendly trading bot
How Does the Forex Trading Robot Work?
- The trading robot will take trades in the direction you set it to (long or short)
- A grid of pending orders will be set as per your parameter set
- Additional trades can be taken by the bot if set by the user at designated grid levels (fully configurable)
How You Can Use The Grandmaster to Automate your Trading
- Buy or Sell: Using the botCanBuy and botCanSell variables traders can choose whether they are looking to buy or sell a specific pair
- Lot size: Traders can choose what lot size to give the bot as well as if they would like the lot size to automatically multiple as the trade moves in a given direction
- Grid Level in Distance in Points: Users can choose to program the grandmaster to add a small position every allotted points. In this case the pips was set to 2000 points. Therefore, the bot is set take a small position every 200 pips. (1 Pip=10 points)
- Number of Levels: Choose how many different grid levels pending buy limits where the price will execute a buy if it hits that point.
- Net Profit: Choose what profit you would like each trade to be at for the bot to automatically close out.
- Max Drawdown: By turning this variable to true, you are telling your bot to stop out at the given max drawdown on your account.
The Truth About Forex Trading Bots
Although forex trading bots are excellent tools to help automate components of your trading, the Grandmaster Forex Robot is NOT designed to be “set and forget”. Unfortunately, forex trading bots are not a magical money machines and will require manual intervention from a trader who understands risk management and has an adequate understanding of trading.
In order to use the Grandmaster Forex Trading Bot you will need:
- Access to Metatrader 4 platform on computer or VPS
- At least $500 USD (in our opinion)
- A broker that allows robot trading
- Patience and adequate trading experience
How to Get the Grandmaster Forex Trading Robot
Interested in trying out our forex trading robot? Purchase the Grandmaster Forex Robot here OR get the Grandmaster for FREE with your purchase of the Gold VIP Membership (along with 7 of our other awesome scanners, indicators, & bots!).