Using forex trading robots 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 robot 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 Robot 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 robot 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 robot 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.
Although forex trading robots 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 robots 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 Robot 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!).
Last week’s selloff was brutal for investors in the US stock market: the Dow Jones Industrial Average closed at its lowest level since late 2020, falling to 29590.41, losing 1.6% on Friday alone. With the S&P 500 currently down a whopping 23% from January’s highs this year, and other indexes close behind percentagewise, stock market […]
Yesterday, the Federal Open Market Committee (FOMC), the Federal Reserve’s policy-making body, implemented yet another 75 basis point interest rate hike. While this move was perfectly in line with market forecasts, Chair Powell’s comments following the subsequent press conference, in which he discussed the FOMC’s new set of economic projections, were significant. He continued to […]
Statistics Canada released a surprising new batch of inflation data this morning: month-over-month CPI failed to meet market forecasts, declining by 0.3% instead of the anticipated 0.1%. Rather than being an outlier, the other measurements of CPI mostly followed suit, as both year-over-year Trimmed CPI and Median CPI likewise failed to meet expectations. Trimmed CPI’s […]
DISCLAIMER: All comments made by TraderNick’s Forex Group, LLC are for educational and informational purposes only. All comments should not be construed as investment advice regarding the purchase or sale of any securities or financial instrument of any kind. Please consult with your financial adviser before making an investment decision regarding any securities or financial instruments mentioned by TraderNick’s Forex Group, LLC. TraderNick’s Forex Group, LLC assumes no responsibility for your trading and investment results. All information on any of the platforms utilized by TraderNick’s Forex Group, LLC was obtained from sources believed to be reliable, but we do not warrant its completeness or accuracy, or warrant any results from the use of the information. TraderNick’s Forex Group, LLC, its employees, representatives, and affiliated individuals may have a position or effect transactions in the securities and financial instruments herein and or otherwise employ trading strategies that may be consistent or inconsistent with the provided strategies. Trading of any type involves very high risk and may not be suitable for all investors. TraderNick’s Forex Group, LLC, its subsidiaries and all affiliated individuals assume no responsibility for your trading and investment result. Read our full disclaimer here